Q: Good Morning all.
I currently have a portfolio weighting of 18.1% financials versus the recommended 15%. Individual stocks at 1/2 to full positions include the 4 banks, SLF, ING, MA, TSU, ONEX, BN and BAM. (I do need to consolidate I think).
All have been doing more or less what I would expect; except ONEX. It has been a frustrating stock to own, with a downtrend for the years, in my view, a management enrichment program.
The question - would it make more sense to shed this stock and perhaps one of the banks, then roll the funds into a BN or BAM.
Thanks as always!
Dave
I currently have a portfolio weighting of 18.1% financials versus the recommended 15%. Individual stocks at 1/2 to full positions include the 4 banks, SLF, ING, MA, TSU, ONEX, BN and BAM. (I do need to consolidate I think).
All have been doing more or less what I would expect; except ONEX. It has been a frustrating stock to own, with a downtrend for the years, in my view, a management enrichment program.
The question - would it make more sense to shed this stock and perhaps one of the banks, then roll the funds into a BN or BAM.
Thanks as always!
Dave
5i Research Answer:
Without getting personal, we think ONEX is 'OK' but BN is much better company overall. In a consolidation we would be very comfortable moving an ONEX position to more BN.