Yikes! The first four days of the month saw the stock market heavyweights - the likes of BHP, CBA and Woolworths - slump by 4-5 per cent. That confirmed October's reputation as a nervous month for financial punters and long-term investors alike.
The Punter's portfolio slipped 0.8pc. That's not enough to make him hit the panic button or pour himself a stiff one, though he would not be surprised to see the market fall significantly.
He has, however, sold half his holding of Crop Logic (ASX code CLI), mainly because he has doubled his money on this one.
It locks in a modest profit and brings his cash in the bank to 50pc of his original investment fund.
A third of his current portfolio is cash, which gives him a bit of an umbrella against any October storms.
Crop Logic is an agricultural technology outfit, using the latest computer and satellite technology to monitor soil and crop performance.
It has expanded to grow hemp on a trial farm in Oregon.
Harvesting is expected to start this month, with processing and sale to follow next month.
The Punter decided not to sell his entire holding, mainly in the hope of positive news before the end of the year. He may regret that decision, because the company has been under a cloud since early last month when the ASX queried the appointment of one of its non-executive board members, Stephen Silver.
The ASX is not happy CLI appointed Silver without informing shareholders that in the past he had twice, without admitting or denying any wrongdoing, agreed to pay fines for alleged breaches of the rules of the US Financial Industry Regulatory Authority.
The ASX has put CLI on its naughty boys' watchlist, which means any CLI announcement will be delayed while the ASX scrutinises it before releasing it to the market.
- The Punter has no financial qualifications and no links to the financial services industry. He owns shares in a number of companies featured in this column.