Briefly about the reason for sale:
I am afraid that the current rally will not be sustainable or that it is just an advance praise for Paul Singer of Elliott Management. Even if he delivers, I am not sure whether this will simply "justify" the price increase to date or whether there is further potential on top.
Singer wants to make the company more efficient and use the cash reserves more sensibly. That's all well and good, but he can't conjure up demand for air conditioning technology and heat pumps either.
I also have some flashbacks to PayPal. This is where I first came across Elliott Management. They also did a good job and saved costs. But nevertheless, in the long run, Singer repaired the balance sheet but not the share price.
In terms of my portfolio, this is now the third exit this year. This means that the plan to concentrate the proportion of individual shares in the portfolio continues to take shape. I have now identified around eight further candidates for sale, four of which I am already actively preparing to sell. There are currently 33 stocks in the portfolio, the medium-term target is 25-30. Let's see if there are still such good opportunities to get out of the positions painlessly.
