$TRB – closing Tribal +57% / +200%

Closed the last of my Tribal at about 79.  This is over 200% of my entry cost, however I only made 57% over the total position.

This is somewhat mitigated by the large size – at peak this was 20%+ of my portfolio.  This pretty much made it that I had to sell all the way up.  I have a rule that I dont go above 20-30% weights. Might be one to think about as it means I am not enjoying the full result of rapidly compounding shares but on the other hand it manages risk…  I think improving this aspect of my investing should be a focus going forwards.

It was very large when I started so I sold out all the way up.

I think at the current prices a recovery is very well priced in.  Even if we believe there is going to be a good recovery in margins to 10% – which they have struggled to reach then we get to a multiple that’s pretty high.  I should have looked at this / sold in the 90s and to some degree am reacting to the recent dip in the share price…

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