TBT 2017

The year has ended on a high note for my portfolio. Turning Point Brands´ value increased almost 20% over the days between Christmas and New Years. It seems like the market has suddenly woken up to recognise what the Trump administration´s tax cuts will do to a business that generates almost all of its profits in the U.S. Further, dialysis services provider Davita announced the sale of its Healthcare Partners division for USD 4.9 bn. which has been a drag since its acquisition in 2012. This was rewarded by the market with a 30% run. An allocation of these proceeds to share buybacks and debt retirement should push the value of Davita´s equity further up towards USD 90 per share.

Incorporating this stretch towards the finish line of the old year Investing0711 returned 13.57% for the full year. Continue reading

Advertisements