Week 11 Trades
I had high hopes for my original investments, but come the end of the first week, my portfolio was down nearly $80. Clearly, I needed to change something, and I didn't waste any time dropping my worst investments and reinvesting that money in stocks that I thought would perform well. I sold most of First Solar, which had been very successful, because I feared it was overvalued and would come down soon. Its P/E ratio was over 100, so I decided to "sell high" as the invaluable saying goes. I also sold my entire holding of Molson Coors Brewing Co. because it had fallen due to poor management and I had no reason to believe that it would turn around. With the money freed up from these stocks, I invested around $1,700 in Telefonos de Mexico, which is a popular telephone company in Mexico, much like Comcast in America. I was really impressed with its management, and from what I could tell, it would only go up in value. It had a relatively low P/E ratio, its CEO had recently been recognized for outstanding leadership, and developing Mexico would only increase demand for telecommunications.
