Quiet Contrarian. Ep64: Trades for Jan-Mar 2025

Just a big catch up post for the last few months. 2025 has been exciting, and painful. I haven’t seen many things that I have found particularly compelling, but that seems to be shifting a bit recently. Maybe more on that in coming months…

Buys

Civmec Ltd – CVL.ASX – Their Revenue was up, but profit down. The description they gave was the very generic “timing of revenue recognition of profits”, which really doesn’t explain anything to me. Price was punished severely, with them trading at dirt cheap PEs (~7-8x). Interested to see if they can clear the water and improve the market sentiment. Added more to my position.

Star Entertainment Group – SGR.ASX – This was a moment of weakness, picked them up on a hot tip from a friend I trust, and his investment hypothesis (basically they were too big to be allowed to fail). So jumped in for a bit of a short term trade to see how things went.

Sells

Jupiter mines – JMS.ASX – I finally managed to unload JMS, having been bag holding for years. This was one of the biggest failures of my portfolio for the longest time. Took a hosing on the share price, but the dividends largely made up for it over the years. My nett position was something like 7% down, despite a ~55% share price drop. What I learned, patience is important, and purchase price matters. Also, if something runs hard over a short time frame (e.g. doubles in 3 months), just get out. Timing is hard. Crystallise your wins!

Star Entertainment Group – SGR.ASX – I sold out of my SGR trade 2 weeks after the purchase. I didn’t put much in, and had a minute loss, even if it was 4% of the whole. A good reminder never to trust the hot tip.