STOCKS I'M SELLING
It is harder to sell a stock than to buy one.
There are three stocks that I'm currently selling and it is for three different reasons.
1. UNFI $UNFI
I bought UNFI in early 2021 and it became the largest position in my portfolio. I took some profits but still believed that the stock was undervalued and kept holding. Unfortunately, I made a mistake and the fundamentals of the company changed. At the current price, UNFI is fairly valued.
2. Essent Group $ESNT
This one is undervalued but I want to focus on my investment in Genworth Financial $GNW which has a better risk-reward asymmetry.
3. Prosus $PRX.NV
I invested in Prosus since it was buying Tencent $0700.HK at a discount. Tencent is no longer undervalued and the spread between Prosus NAV and price has mostly vanished. Therefore, it is better for me to take profits and focus on Alibaba $BABA .