PORTFOLIO UPDATE: POUR SOME SUGAR ON ME
During the trading day, I tweeted the following:
There comes a time in the life of every investor when they must admit satisfaction with a certain position, trimming that position down in an act of reverence for the profits allowed. IWSY has grown in the portfolio into a large position as a result of the 130% gain that it has seen since the position was taken in late February. That position size, given the volatility exhibited by IWSY, makes me a bit uncomfortable. I certainly do not want to see the portfolio overwhelmed by the volatility in one name, which is what tends to happen when positions swell in size due to appreciation. As with everything, the decision to take profits in IWSY was a risk management move today.
Again, I am holding a majority of the position for what I believe will be higher prices into Q3 and Q4.
I'll provide further details into my thoughts on IWSY and the remainder of the names in the portfolio in the June monthly performance summary due out this coming Sunday.
