Where to from here?

[THRESHOLD]

SKAAPTJOP - Some fundamentals. Had a fatastic run. Still looks cheap and has maintained its bull trend, BUT.. If there is a recession then motor parts companies will be hit hard. They have a HUGE workforce - and who wants that in South Africa. They are up against imported competition for as long as the Rand stays strong. They rely on an artificial, government subsidised system that supports local secondary motor industry suppliers to the car makers. The primary industry players are largely subsidised through obscene markups in the local market. Theirs' is also an "artificial" industry. You can buy their "made in SA" products for far less overseas, including shipping and duties than you can here. They are also protected from imported competition by outrageous duties and tarrifs. Arrangements like this can lead to nasty downside shocks. So - I have disposed of a large chunk of mine - and moved into more conservative stocks. It has allowed me to effectively add to my NTC, PFG, NPK at an 80% discount. Now - knowing my luck, MTA will surge (although it has come off since I disposed of it,) and my new picks will drop.

[#2]

I am still holding. The basis for selling would be the premise that global resessions are looming. I am not going to let the doom and gloom affect my decision, as the investment community seems to be sticking in there. Even if we come off by 10%, there should still be a decent enough dividend based on the last sens and profit expectations. Import substitution is always a problem, but if I recall, the new revision to the MIDP is supposed to sort this out. I don't think I would be adding right now, but I still see upside.

[THRESHOLD]

Still looks good on paper. As far as my decision goes - I want/need to bank some profit - and avoid a repeat of my 2008 experience. Following the "no one ever went broke taking a profit" philosophy for a change. That said, I still have some - and would start picking them up again if there is a decent pullback.

[#4]

Threshold - check out my little project that I started some time ago - http://ciforum.wikia.com/wiki/Metair. In it, I summarized all my notes for Metair. Was hoping to attract some other contributors to edit, but I guess that will take some time. Looking back, I am happy with my decision to stick to this share.

[THRESHOLD]

Don't get me wronh - I have liked this company for some time. The "problem" is that I took a fair-sized position at R5. This has grown fairer still. Given the current market mess, I want to reduce the risk profile of this portfolio. I looked into this entity in some detail before I invested in the first place. Nothing has changed, except for the macro-environment.