First the bad news. iGate (IGTE) which is about 5 % of the BIA Global Strategy Model Portfolio, got hit for a 19.4% loss yesterday on news the company is making a bid for a much larger rival.
The good news (I know this is a bit of a stretch), the decline represented mostly a give back of what was an unrealized gain. Coming into this morning, the position was slightly underwater from the original purchase. If the stock can mount a bit of a “dead cat” bounce, we might hold on for a bit, but there is no denying that the position in the BIA Global Strategy Portfolio is on “Double Secret Probation,” and could very well taken out of the model soon.
DISCLAIMER: Nothing in this article should be construed as a personal recommendation or advice. Nor should anything in this article be construed as an offer, or a solicitation of an offer, to sell or buy any investment security.
The BIA Global Strategy Model Portfolio engages in short term aggressive, speculative strategies with an appropriate portion of an investor’s overall investable assets. Investors should conduct their own due diligence and seek the advice of a financial and/or investment professional before making any investment decisions.