Last post of the week from the Amateur Investor. Quite a quiet week by recent standards.
Just a few more trades to note.
Thursday 29th September
Yesterday I added to my Game (GMG) holding. Average buying price now stands at 22.97p per share. With a dividend of 1.8p due to be paid on 17th November this means the shares are yielding almost 8% based on the interim dividend alone!
Forecast dividend for year ending 31 January 2012 is 4.71p, a yield of 20.5% based on my average buying price!
GMG are in the speculative/risky section of my portfolio as I’m not convinced that it’s going to be smooth sailing for them over the next 12 months. Yes, there are a raft of new consoles and high-proflie games to be released, but how many “gamers” still buy from a “bricks and mortar” retailer rather than the likes of Amazon and Play??
Friday 30th September
The final four trades this week consisted of purchases of Pendragon (PDG), iShares FTSE 100 (ISF), Ocado (OCDO) and Lloyds Banking Group (LLOY).
Yes, you read that right. Ocado and Lloyds Banking Group!
You can’t seem to pick up a paper or read a financial website at the moment without seeing a negative comment about Ocado shares. Since my first purchase of OCDO the shares have been going downhill like a downhill skier. But my holding isn’t huge so I’m prepared to stick with them. Today’s purchase reduced my average buying price from 138.5p to 124p, still well above the prevailing share price though.
Lloyds Banking Group is a pure punt. We could all be looking back in a couple of years marvelling at how cheap bank shares were. If that’s the case then I want to look back in fondness knowing that I was savvy enough to buy some banking shares at rock bottom prices. If the banks go bust then feel free to well and truly ridicule this decision to buy into Lloyds!
As regular readers of the Amateur Investor may know, I recently became a customer of Lloyds TSB, and apart from a slightly rocky application process I have been pleased with the service so far. And a 3% (gross) interest rate on my current account is very welcome in these low interest rate times.
The Pendragon and iShares FTSE 100 purchases reduced my average buying price to 9.811p and 533.93p respectively.