I always laugh at small fry around here who buy a few shares, don't make much or any money and then say "I'm Out". . .so typical of Americans (I AM an American) as a multi-millionaire with a 3.6M portfolio, PGH is a small percentage of my entire holdings, but it amounts to about $7000USD a year. . .pays for my lift ticket at Whistler. . .at least!! As Warrent Buffet says - "my favorite holding period is forever.". . .wake up people and quite giving Wall Street commisisons - just buy and hold for life.
why bother with the bs? at $7K per day youd have 17million shares and your portfolio would be worth far more that the measly 3.6M you claim. however, i do agree with buy and hold on this one - too much tax headache to do otherwise. and besides, good economy or bad, oil is precious. and iran is a wildcard that will only help this oil trust.
PGH is part of my 2.1m portfolio and pays for my lift tickets at Telluride and Snomass. My biggest monthly distribution comes from BNPUF that I bought in July 2003. HTE and CNE are close seconds. PMGYF used to be second but the distribution has gone from .24 to .14 but I'm holding along with several other Canroys. Careful on the double blacks!!!!!
You and I are in the same boat, from a standpoint of investible assets and being Americans. But, I have 15,500 PGH shares and receive about 6 times more dividends than you do.
I agree with your investment sentiment, except for one thing:
Why is your PGH position so small?
You must have 20 or more investment positions. I just don't see how you can keep track of them all.
I have 14 positions, including a healthcare fund and an investment grade corporate bond fund. I have a hard time staying on top of everything myself.
Perhaps, you might clue me in, as to how you manage things.
I actually have about 45 or so stock positions, and then about 15 corporate bonds, the rest in a few funds, and about 30% in California Muni Bond fund (my cash). . .I am retired at 56, so I have all the time in the world to watch my portfolio - when I am not out skiing or doing other stuff. . .my day starts around 6:30 Pacific, and I check MArketwatch, Yahoo (for any press from my companies) then my Fidelity account - Read the Financial Times (paper edition) and about 10 online publications during the day, from Rigzone (oil) then Tradewinds (shipping), and even some of the better blogs. . .I tell friends that I am NEVER not working - I notice everything from what people are talking about on ski lifts, to what cars they are driving, etc. My portfolio is kind of my life at this time, but I love it. . .but spend lots of afternoons and weekends with family. . .as for small holding in PGH, I will likely buy some more when price dips, but I have more holdings in the usual Chevrons, Exxons, etc.
I have usually 20 high yield stocks that I track daily plus 10 Bonds, unless I'm on a ski trip and my lap top does not work! Spending about 3-4 hours every day will give you plenty of time to do DD. I do not watch Cramer, very little CNBC but catch Nightly Business Report. Also get WSJ! Still find time to golf 4-5 times a week as well! Set your priorities I guess!!!!
I have 38,500 shares of PGH with an average cost of 13.58US. I also have 33000 shares of PWI and 114,000 shares of google. And.....................I own half of the Queen Mary. And...............they're taking me to dinner now.