AIR

I have today 19/08/2016 reduced my holding in AIR from 10.3% of portfolio to 5% of portfolio.

Thanks to Imran Khan (Twitter Handle @immikhan) I now remember why I bought this stock. It is one of Lord John Lee’s core holdings and at the time that was good enough for me.  It was good value and did run up nicely to 600p+ but since then has declined as low as 260p . Recovering now to as high as 438p but again has steadily declined to 370p at the time of writing.

My puchases have been

Date Shares Price Cost
10/10/2012 1080 275.00  £  2,970.00
16/10/2012 341 287.86  £     981.60
08/11/2013 353 560.00  £  1,976.80
14/05/2014 388 509.00  £  1,974.92
29/01/2015 721 274.00  £  1,975.54
30/01/2015 650 304.00  £  1,976.00
08/09/2015 1127 440.00  £  4,958.80
25/01/2016 538 367.15  £  1,975.27
 £18,788.93

The share price is annoyingly irrational up 7% one day and down 7% the next for no reason.  So to reduce the impact on the portfolio I have decided to reduce my exposure to 5% of portfolio and may well look to exit if price strengthens from here to anything above 600p unless it looks like the stock is going to be permanently re-rated.

The proceeds will be re-deployed to cash and possibly another purchase or top up.

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