Monday, February 6, 2017
Bought BP, Inc, Public Storage
My British asset buying spree continues as long as the British Pound remains in the dumps. I continue to see the Pound as a fundamentals safehaven, at least vis a vis the Euro. Therefore, I've continued buying Pound-denominated assets. I've bought my fill of British Telecom, and so this time I added shares of BP, Inc (NYSE: BP). I've written articles about this several times, and I am very confident in this company's much-needed turnaround as well as its low capital expenditure on brownfield projects. The dividend is solid, and the price is dirt cheap when measured in Dollars.
For a family member's account I added shares of Public Storage (NYSE: PSA). I added Public Storage because this person has less risk tolerance than I do. I like PSA, it is trading at around its average valuation, and this is an excellent dividend growth business.