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Portfolio tweaks
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I've done a little tinkering with my sloport since the end of round one. Mostly trading around positions and easing cash into the market - a.k.a. catching falling knives. Good news is I'm beating the S&P, bad news is NAV has dropped below par. I cashed out my Rocky Mountain Chocolate Factory position at a loss, they reported a weak quarter and seem like the kind of discretionary company that will have trouble in a soft economy. The market hammered Graham Corp (GHM), my biggest winner from round one, down to an attractive buy point. I closed out near 60 in late Oct on a run-up after a blow-out quarter. The company has since split 5-for-4 and is trading in the low 40's, a nice discount to where I sold out. They make heat exchangers and similar equipment for refiners, oil sands operations, etc. Fwd PE is a little pricey at 21, but growth has been strong. I think this company is a buy below 45 and, if they continue the trend of strong earnings reports, the stock could trade up to the mid-50's / low 60's. I've done a little more work researching divvy payers, but haven't had time to dig down enough to make any picks. A few that look pretty attractive so far are MCD, GE and CAG. If I ever finish the screening and research, I'll write up the results. In my real portfolio, I've put some cash to work over the last few days. Added a little bit to WFC at 27, RIG in the low 128's and opened a small position in BUD in the low 51's. Still have some dry powder in reserve. Wells has been painful over the past several months, but the quarter they just reported showed increasing revenues, enough earnings to easily cover the dividend and continued good management. Still some ugliness ahead, but as long as the dividend looks safe, it's tough to see it dropping from here (famous last words). RIG - what's not to like at this price, oil companies will need to keep going to deeper water for new finds, that demand will keep dayrates going up, and RIG is king of deepwater drilling. If they maintain the current PE and meet earnings estimates, the stock will be near 170 by year-end. Don't know if Duff drinks any of BUD's stuff, but it seems to have a floor just under 51 and pays a dividend about equal to treasuries after taxes. I've decided to continue into SLO-2 in the 'long term' category. Looking forward to trading comments with friends from round one and making new friends in round two. | ||
Comments (2)
Hi Russ,
Glad to hear you've decided to continue into SLO-2 in the long term category. My decision is the same. Screening and research results and writing up about are very helpful!
Armin
Posted by astuk | January 17, 2008 6:47 AM
Russ, welcome back my friend, I am in for SLO 2 !!!!
I have been a tinkering with my portfolio and the NAV really got clobbered . This will be a feat to return it to positive land.
Armin 's ships are still afloat !!!!
GE to me is like owning a mutual fund. It just may be
the correct stock for this round. You guys have convince
me about DIVIES and their importance, I now pay attention
to that in my personal selections. MCD is getting al ot of attention !
Over the holidays Mrs Duff and I saw the new fangled mickey D's
in Oakbrook just down from their headqtrs. They soon will be going a bit upscaled . The theme will mix in some healthier food. They will be hitting up that hungry customer for a couple more dollars for that buffalo burger.
I do think we play both LT & ST , great -- some more accounting !!!
I do not drink bud never did gave me a head ache and I am really a 2 beer man. Many do approve in that rice grain beer so I am all for it if you can make money and drink beer !!!!!!!!!!!!!!!!!!
Funny you should mention this because in SLO 1 I was fooling around with beer stocks and going to add some but they faded and never were added. I mentioned this to Warrior and he went crazy found all sorts of them for me to explore.
Warrior and I and we invite you and Armin to chime in. They are sin funds that actually do pretty well. Warrior and I have started to assemble a list of names that could be considered for our sinful creation. Booze, gaming, women, smoking, chocolate, protective devices ,organ enhancements , beautification, radar detectors , see what I mean .
We could be zillioniers up at our buddy Dishwashers level !!!!!!
You have me thinking remember I did go to Beer College and I have the empty beer cans to prove it.
I am going to give BUD another try !!
Russ good health and good stock picking to you.
Cheers, DuffBeer
Posted by | January 17, 2008 9:22 AM