Portfolio Performance [Update #3]

Changes :
1] Added position in Eastern Silk
2] Reduced position in ICSA
3] exited from Agro Dutch at a loss ( Company had a high debt and I had invested inspite of this fact)

Learnings :
1. Say not to companies with debt.
2. Do not expect any company to turnaround easily
3. Do not buy stocks just because you have money to spare. Buy only if you find a great opportunity. Having money in your bank account is better than losing money in stocks.
4. Limit your holdings to 5-6 companies. I do not have the time nor the resources to keep tracking each of these companies.
5. Do not spend more than 12 hrs per month on stocks. I have more important things to do. Invest the time in improving myself.

Cals Refineries Annual Report

Cals refineries is in the process of setting up a petroleum refinery.
It has bought second hand refinery equipment in Germany and Canada and is in the
process of assembling it in Haldia, WestBengal. The location of the refinery on the East Coast would add $2 per barrel in Shipping costs.
Negligible profits at present, and money would start flowing only after 2010.
The board of directors looks impressive, but I'd like to wait till I get more information on this company. This could be a turnaround story.

I mailed the company requesting the annual report and received it promptly.
Nothing interesting in the Annual Report, but I am uploading it here for record.