Trimming Back on FNGS and MGK

Recently, the Fed, economists, and business leaders have been looking at the chances of a recession in 2022 or 2023 as being higher than they were.

Even the price of oil is falling on fears of a global slowdown. Also, it appears the effect of the Russian sanctions are largely being avoided when it comes to oil. Russia is now selling its oil to India and China, and the rest of the world will in turn buy their oil from the usual suspects. So it’s just the dance partners are being switched.

With FNGS back to breakeven, I decided to reduce my exposure to it by 20%. It was my biggest individual holding, and it brings it back in line with others like MFC and VTI.

I also sold off all my MGK shares. The price has recovered to almost breakeven, and I exited with just a few cents per share loss. I regretted not selling that when transferring over to FNGS.

I’m tempted to reduce my exposure to ZLU/ZLB. I may have been too hasty to get into that. Since they don’t pay dividends, I am not sure what benefit these holdings are. I know I wanted somewhere to place my money besides in cash, but these holdings are rising and falling with the market! I might as well have invested in an index fund. I’m looking for something that is stable with a bit of growth.

I would love to transfer that money into my other holdings but we’re coming to the end of a green week, and I’ll wait for a big red day to do that.