Sold Teck

I sold half of my position in Teck Resources today. The reasons why I bought Teck was a bet on the assets that the company owns. The bet was Teck's management team will be able to monetize value of its assets to repay debt and manage the upcoming debt maturities, that resulted form the Fording Coal aqusition.

The bet worked beyond what I expected with the sale of equity to Chinese Government. I thought the controlling family won't dilute their ownership but being pragmatic they did the deal. So that the debt issue was resolved the reason of the initial investment is gone so should my position in Teck.

I have not been active recently as I do not want to chase anything at the moment. I could not find any thing interesting to research but that may be mostly due to time limitations. It will be interesting once September rolls in. I think things might change then.