I’ve written about my small position (5000 shares) in CODAF here and here. My cost basis was $0.78 AUD ($0.72 USD in 06/2014).

Currently the stock trades at $5.58 AUD.

It has been a 7x bagger so far (in AUD). A strengthening dollar has meant a more modest increase from $0.72 to $3.74 USD. Still, a 5x return in 5 years is nothing to sneeze at. The $3.6k original stake is now worth nearly $19k.

These numbers don’t include dividends. The $1840 (USD) of dividends paid out is more than 50% of the original cost basis. Inclusive of dividends this is a 40% CAGR!

Illiquidity of the US listed CODAF is one of the big reasons I have been able to hold on. The stock has gone past my estimate of intrinsic value a few times. Given the small size of the position (although it is now a respectable 2.4%), it would have been a good candidate to cut during a periodic portfolio cleanse.

Makes me wonder how the $0 commissions at TD and ETrade will influence my behavior.


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