I’ve already sold Rayonier (RYN) out of the Jubak Dividend Income Portfolio today, May 28. And now I’m selling it out of Jubak Picks as well. Nothing wrong with the stock—when the real estate market does finally turn, this timber and real estate REIT will do quite well. But I think that turn is still a long way away and that investors will see better places to put their money to work—most likely in the world’s emerging stock markets—before then.
I’m looking at a 2% drop in the price of a Rayonier share since I added it to the portfolio on November 9, 2007. On a total return basis—that’s capital gain (or in this case loss) plus dividend payments—I’ve got an 8.4% profit.
With this sell Jubak’s Picks will be about 33% in cash. I’m still looking to add a little more to my cash position as we move into summer and as we get closer, I believe, to the time to buy emerging market stocks. But my cash position is getting near to where I want it.
Full disclosure: I will sell Rayonier out of my personal portfolio three days after this is posted. I will also be selling Rayonier out of my Jubak Dividend Income portfolio today.