Contrarian Investor UK invests mainly in UK FTSE and AIM listed shares. Like famous contrarians, Warren Buffett and Anthony Bolton, he likes to take a different view to the crowd of investors. He prefers the short term, possibly speculative trade, to the long term hold and takes the view that it's about "buy and research" not "buy and hold"! This blog tracks Contrarian Investor UK's thoughts on the stockmarket and his portfolio's trades. Move against the herd with the Contrarian Investor UK!
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Monday, February 14, 2011
Happy to have exited ARM Holdings short last week at a profit, after it hits ten year high
ARM Holdings (ARM) rose 6.5% or 40p to a ten year high today as Goldman Sachs raised its price target to 800p saying a valuation of 23 times 2015 earnings was justified for a “strategic asset”. Goldman said that whilst ARM was earning 1 per cent royalties at the moment, newer deals had a charge closer to 2 per cent. Looks like the directors sold their shares at the wrong time last week and a relief for me that I closed my short at a profit at less than 590p with the shares hitting 651p today.
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