We have all made mistakes and there is no exception in the stock market (hopefully you have made some good decisions as well). To avoid making the same mistakes over and over again, and to replicate your successes, you have to track your investment decisions and the reasoning behind your choices. If you in retrospect are unable to tell what went wrong, you will most probably not make a profit in the long term and this is why you should keep an investment journal!
In part 1 of my mini series I gave you a step-by-step guide on how I apply my set of rules to the investment decisions that I make and in part 3 I explained some of the rational reasons for when to sell a stock. These parts are vital for your investment journal and here you can find my “investment-journal-landing page” where you can find quick links to all my transactions.
The Investment Journal: The format of your investment journal is not that important, and you can change and improve upon the format as you gain more experience. The journal should at least contain your initial purchase decision, cost price, dates and your sell decision.
I prefer a tabular format organised chronologically, based upon the transaction date. Below you can find my journal with quick links to the investment decisions.
|Sparebanken Vest||Buy: Low PB compared to peers||21.1.2020|
|Scatec Solar||Sell: Pricy at 130 NOK per share||21.1.2020|
|Valmet Oyj||Buy: Out of the woods||17.1.2020|
|Eolus Vind AB||Sell: Double-bagger sold||16.1.2020|
|NIBE Industrier||Sell: EV/EBIT: 31.8 / PE 40||15.1.2020|
|Wärtsilä Corporation||Buy: IMO 2020-deadline||17.1.19|
|Eolus Vind||Buy: Nordic wind power developer||25.1.19|
|Equinor ASA||Buy: Cheap, value stock||14.8.19|
|Scanship Holding||Sell: Volatile, growth stock||20.8.19|
|Mowi ASA||Buy: High quality||28.8.19|
|Castellum AB||Buy: Sector downgrade, buy opportunity?||5.9.19|
|Securitas AB||Buy: Stabile growth outlook||10.9.19|
|TransAlta Renewables||Buy: High monthly dividend income machine||11.9.19|
|Eolus Vind||Sell: Sold 25% of my holdings||25.9.19|
|Boule Diagnostics||Buy: Adding MedTech to my holdings||1.10.2019|
|Aker ASA||Buy: ~ 20 % discount to NAV||2.10.2019|
|NIBE Industrier||Buy: Acquisition machine||2.10.2019|
|Nekkar ASA||Buy: Time to unveild value||4.10.2019|
|Tomra Systems||Buy: Increased position||9.10.2019|
|Eolus Vind||Sell: Sold an additional 25 %||16.10.2019|
|Eolus Vind||Buy: Added after 10% decline||22.10.2019|
|Biotage AB||Buy: High organic growth in Q3||5.11.2019|
|Nekkar ASA||Sell: Alternative investment||5.11.2019|
|Lerøy Seafood ASA||Buy: Discount to peers||15.11.2019|
|Hemfosa AB||Sell: Takeover bid||21.11.2019|
|Sparebanken Vest||Buy: 10% bonus, low PB, high ROE||22.11.2019|
|Ocean Yield||Sell: Capital intensive and low ROIC||28.11.2019|
|Biotage AB||Buy: Added to full position||2.12.2019|
|Visa Inc||Buy: New position||2.12.2019|