Monday, July 16, 2007
Wednesday, February 28, 2007
However, there may be a silver lining. The cause of this market drop was mostly due to a slowdown in China and a forecasted slowdown here in the U.S. This may cause the fed to lower interest rates by late spring or summer which would be a boon for the market. I'm still very bullish on the markets as valuations are not far from there mean.
Friday, February 23, 2007
My best gainers were MHJ and GYI which both reported stellar earnings which boosted their stocks. The portfolio was dragged down by RAND which lost most of the gains I unrealized over the past 3 months. Most other holdings were slightly up or slightly down. The funds did well, especially the Fidelity Leveraged Company Growth which has done remarkably well over the past 3 years.
A new holding to report: Key Tronic. I came across this stock off another blog and did some digging of my own. It has everything I normally look for in a micro cap stock. Low Price to Book and Price to Sales. Enterprise value greater than market cap. Strong ROE and low institutional ownership. Current Ratio over 2. The company makes computer peripherals and other electromagnetic manufacturing services.
Thursday, February 22, 2007
The portfolio finished up 0.09% (just over $230) as it swung wildly through the day. At one point, the portfolio was up nearly 1% and down nearly 1%.
Wednesday, February 21, 2007
Its hard to decide which benchmark is most appropriate for my portfolio. I do own many micro cap stocks which would suggest I should use the Russell 2000. However, the mutual funds I own are most representable to the Russell 1000 Growth or maybe even the Russell Mid Cap Growth Index. Of course, I own a few larger cap stocks that are most represented by the S&P 500. When I have time, I'll have to develop a blended index that is highly correlated to my portfolio. To be continued on that....
Getty Images jumped another 7.21% and Man Sang Holdings jumped again today over 9%. TAIT again dragged down the portfolio.
Tuesday, February 20, 2007
The portfolio finished up $1,657.97 on the day, up 0.66%. The portfolio was weighed down by my fund holdings Wasatch Core (up 0.23%) and Fidelity International Discovery (-0.08%) and Fidelity Leveraged Co. and Low Priced (0.55 and 0.52%, respectively).
Also notable is the potential merger between Sirius and XM satellite radio. When satellite radio was first born, the government issued just two licenses for satellite waves. Both of these companies were formed within a year of each other but both have remained unprofitable. Capital intensive and marketing initiatives have cost both companies. Sirius gave Howard Stern $100 million a year for the next 5 years.
I bought Sirius with some spare cash back in 2003 for $1.60 a share. The stock then went up to $9, a 465% increase in the course of a year and a half. It then slid down to $4 a share over the next 18 months where it has been ever since.
This merger will not help profitability much in my mind. In the end, it is going to take several years for the benefits of this merger to be realized on the bottom line.
Friday, February 16, 2007
I finally sold off my energy fund as it recovered nicely from the December lows when oil was down near $50 a barrell. I hope to find some nice micro caps this weekend to roll this capital into.