I am closing a long held position in
Diamond Hill Investment Group (DHIL). This is a quiet little asset management company (mutual funds, long-short funds, etc) that I almost never blog about. There is normally very little news about the company, and it trades very few shares each day. I've never had a huge position but generally have held a 1-1.25% stake in the fund with this stock and have managed a $2100 gain (about a 6.2% gain), so I am going to exit at this point. While I am still bullish for the very long run, I am not sure if an extended bearish or even "volatile but making no real progress" type of market will be great for this firm, as queasy investors might just get sick of things and go into money markets. I just don't have a strong enough opinion one way or the other on the company at this point ... so I'm tightening up the portfolio and becoming more concentrated this week.
From a technical perspective... well, the same level of inconclusiveness. In fact it's been nearly as range bound as the market overall.
With the stock up 4% today, I am selling the remaining 150 shares near $75. I've held this position since August 10, 2007. [
Edit: Due to light volume in this name, the order only partially filled today, so I will consider it officially "closed" but sell the rest at market on open Monday morning]
No position
