Well, the first half of 2017 did not make me a rich man. The portfolio performance is disappointing. Actually, on average the portfolio is down 28.8 % since New Year. This in a period were the broad Stockholm index (SPI) is up almost 8 %. Luckily, there are stars among the shares with great performance. Still the number of shares with huge losses are very high.
It is increasingly difficult for a share to get any upwards momentum after an issue. Often the share hovers around the issue price. Then starts sliding downwards. BrainCool is the latest example. The issue price were 5 SEK and now a month later, the share is almost 10 % below the issue price at 4.59 SEK. For the winner in the first half of 2017, Phase Holographic, it took 14 months before the share started moving upwards after an issue. The overall portfolio performance you can see above. Here follows comments on the three best and the three worst performing shares. Continue reading