Portfolio performance

Time for a little reflection on the current performance of my growth portfolio.

I have totally re-worked my portfolio this year, taking a nice short-term profit in British Airways, selling out of Vodafone at about break even and ditching my Centrica shares for a small profit.

Most of the money went into Internet companies: Google, eBay and Ask Jeeves. I also put some money into UK small cap. Big Yellow Group for some diversity and education in investing in small companies. When ASKJ shot up on the IAC acquisition news I sold out as the share price will probably go nowhere until the acquisition is complete. I have just put the proceeds into Frontline Ltd - an oil tanker company!

All four companies are showing a loss at the moment!

BYG - down about 7% on low volume. I am not worried about this one. The share price is reasonably dynamic but the overall trend is positive. This is one for the long term.

EBAY - down about 10% (this is after a strong recovery over the last few weeks!) I have said a lot about eBay and don't need to say much more. Suffice to say that I am not losing any sleep about the current share price. The price has shown significant strength over the last few weeks in a falling market. I plan to hold on to these shares until they become massively overpriced again (P/E over 100 for example.) If this means I hold on to them for another 10 years then that is fine.

GOOG - down about 6%. There seems to be a lot of support for GOOG at the $180 level. This is a fantastic company and one I would be happy to hold for years or alternatively sell if it becomes massively over-hyped and then buy back in at an opportune moment.

FRO - just bought in and down slightly. Frontline is a wild card in the pack. Almost anything could happen to this one but it is run by a very clever man and is paying outrageous dividends so I think the risk is balanced in my favour.

The future is bright.