Trade Initiation: Disney (DIS)
On Thursday, I purchased approximately one third of a full position in Walt Disney Corporation (DIS), otherwise known as Disney. This expands my portfolio into the entertainment space, given I currently hold shares of Cedar Fair (FUN). The purpose of this purchase is to begin a transition away from Cedar Fair. The company and the stock has not been performing up to expectations as of late. Despite the strong dividend of over 5%, the company lost all of the capital gains I had in it and then some. This was poor management on my part. Regardless of what I did or didn't do right with Cedar Fair, I still have faith in the Entertainment industry. However, I felt it would be more appropriate to diversify myself outside of just amusement parks. I feel the timing of this switch is ideal too. Besides the theme parks which Disney has and are doing well, they have TV via ABC channels and ESPN, which is starting to turn itself around with it...