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SELL CVY AND HALF OF GGN

May 23, 2019. We bought CVY way back in the early days of this blog-January 2014.

It has been mediocre at best, diving in 2016, pulling back in 2018, diving again and now coming back to $21.81 and giving us a stinky 3.7%. We had hoped to reach the price we originally paid (to break even) but that will not happen. This is dead money.

We are selling with a positive small Total Return. The price is actually lower than we paid, but with the dividends, we get a profit.

It is doubtful many followers even own this thing, but it is time to SELL CVY.

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SELL HALF our position in GGN Gamco Global Gold, another long time holding.

We held GGN collecting the dividends (over 13% today), all the while expecting gold to drive higher. The opposite has happened. Also GGN has reduced it dividend payment amounts several times over the years, and it looks like another reduction is coming this year. It is time to take this dead money and get it into something paying us decent dividends.

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As a reminder, a single position in the Core Portfolio should run around 2% of total. A single position should NEVER exceed 4% of the total portfolio. This greatly reduces your loss risk if positions go bad.

LADR has pulled back and is a good position to add new money.

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