Decision to sell taken

A decision to sell a number of shares in the portfolio was taken by the board on April 4th. The reason for selling is the different signs we have seen which indicate that a probable dip is approaching during the coming year.

The following shares have been sold as of today:

• Alfa Laval (+4,6% in 29 days. Very good!!)
• Atlas Copco (+5,8% in 29 days. Very good!!)
• Sandvik (+10,1% in 29 days. Excellent!!)
• Apple (-1,4% in 73 days. Not good. Partly explained buy a weakened Dollar.)
• Clas Olsson (+5,2% in 84 days. A good investment and >the bank account in a year.)
• Tieto Enator (+5.2% in 76 days. A good investment and >the bank account in a year.)
• IBM (sold 25%), (-5,2%. Embarrassing. It is a long term investment but we chose to decrease.)
• SCA (sold 30%) , (+38,7% since a couple of years. Very good investment.)
  

The sale resulted in a SEK4.613:- profit which is taxable in 2008 (-SEK1.384:- or SEK154.- per person). The average Return On Investment (ROI) was 8.5%. However, 66% of the ROI is related to SCA, which value has been built up over a couple of years. Still a positive contribution to A.f.f.e wealth development.

After having sold these shares, about 25% (SEK101.000:-) of the assets in A.f.f.e are now in cash. The current plan is to keep about 25% of the portfolio's value outside of the stockmarket until a dip comes. This money will be invested at a later stage when the individual share prices are more attractive.

Thomas and Patrik