Here is a quick update on Portfolio One for December, 2014.
Some of our oil companies have taken a beating with the tumbling price of crude. We own Exxon Mobil (a “double” position in terms of weighting, Sasol (a South African Oil company which also is impacted by the rising US dollar), Statoil (a Norwegian oil company also impacted by the rising dollar), and TransAlta (a Canadian energy / electric company which also is impacted by the rising dollar). We will look at all of these companies and develop thoughts on what to do next.
The rest of the portfolio seems to be doing well and mostly offsetting these issues up above.