Since about 2013 I've been more than fully invested. Lacking any capital I borrowed money, and then in 2016 I borrowed more money (and sold half my portfolio) to buy a house near the Bellinger River. That loan is worth about 70% of my portfolio. Although this kind of leverage isn't really that dangerous (since I can pay it off slowly if I choose), I prefer pay off my debts early.

As a result, over the next couple of days or weeks I intend to liquidate 10%-20% of my portfolio. This will involve selling part of my positions in some stocks that I remain generally positive about, and have commented on favourably.

This article does not take into account your individual circumstances and contains general investment advice only (under AFSL 501223). Authorised by Claude Walker.

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