I sold half my position in Fairfax Financial (FFH/NYSE) on Monday (10/29/07) at $259.92 per share.
Regular readers will recall that I first mentioned Fairfax Financial on this blog in May 2005 at $132.50 per share. I boosted my share count by 30% in June 2006 when the shares hit the bargain price of $92.00. Then in October of that year I sold those shares for $145.74.
Now enough Fairfax stock has been unloaded to get the original capital investment back (pretty much a hard-and-fast rule for me), yet the share price has appreciated so that the company remains a full portfolio position.
Cash levels are higher in the portfolio than I'd like -- I prefer to be fully invested. Having cash is the byproduct of a couple of things.
One is the good fortune of having some investments that have actually worked out, or are working out. The other is a lack of new investment ideas. I'm looking to put some cash to work in the near future, either through averaging down some existing positions or establishing new positions. As always, I'll post any portfolio movements here. So stay tuned.
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