Closing Fiat (Italy: FCA)

Today I sold out of my position in Fiat Chrysler at a price of €14.10. I established the position on July 28th of last year and enjoyed an 80% gain in 7 months. The company is benefiting from an improving European economy, a weaker euro, and the upcoming spinoff of Ferrari.

Although I see nothing wrong with the stock other than it is 80% more expensive than it was half a year ago, I am seeing better opportunities to play a European market melt up. Also, the stock is close to the €16.50/share fair value estimate presented by 2014 Ira Sohn Contest winner Michael Guichon.

I will remove the stock from my open positions.

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