THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: +7.5% in 2012 (my actual IRR, including cash balance) Dow Jones Industrial Average:+8.6% Nasdaq: +19.8% S&P 500: +12.8% DJ Wilshire 5000: +13.4% Russell 2000: +13.3% With the exception of the Dow, the major indices are doubling my YTD returns (tripling in the case of the NASDAQ). Not only is [...]
THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: +7.3% in 2012 (my actual IRR, including cash balance) Dow Jones Industrial Average:+6.1% Nasdaq: +13.3% S&P 500: +8.5% DJ Wilshire 5000: +9.1% Russell 2000: +8.5% As I have often mentioned, my primary investment objectives are to outperform in down markets and keep within shouting distance during up years. 2012 [...]
I opened a position today at $4.26 per share. Share prices have fallen drastically due to continued customer losses, declining revenue in its higher margin businesses, a large debt load over 3x EBITDA and concerns about the recent Verizon transaction that more than doubled the company’s size. Its current yield of 17.5% suggests the market [...]
THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: +6.1% in 2012 (my actual IRR, including cash balance) Dow Jones Industrial Average:+4.1% Nasdaq: +9.3% S&P 500: +5.3% DJ Wilshire 5000: +6.2% Russell 2000: +9.3% Yikes! With my large cash position, I am going to find it hard to maintain this pace if market keeps this up. No reason [...]
Yesterday I sold out of my ExxonMobil (XOM) position and bought Total SA (TOT). XOM is approaching my estimated fair value so my selling discipline forced me to sell. TOT is definitely one of the uglier houses on the energy block but the market seems to be over discounting the company just on a reserves [...]
With markets remarkably resilient in the face of continued euro region troubles, an anemic US economic recovery and growing concerns of a crash in China, investors may want to consider deep value stocks for possible investment. While cheap stocks can always get cheaper, true value stocks (as opposed to value traps) will probably fall less [...]
