With markets generally rising after a very brief, small drop last week, there hasn’t been much buying on my end. Some gold stocks have dropped a little & are starting to look attractive. In the meantime, I continue to do screening and research, most of which is published on Seeking Alpha: Can GE Help Chesapeake [...]
Chesapeake Energy (CHK) preferred stock is one of the largest positions in my portfolio and with the recent sell-off in energy names, I considered adding CHK common stock but instead chose to open a position Devon Energy (DVN). The two companies share a similar profile: Headquartered in Oklahoma, operating in the onshore North American market [...]
Just took advantage of this market drop to buy Devon Energy (DVN) at $56.75. Market action feels like stocks could drop further but I’m less concerned about timing than insuring I get these shares selling too cheaply. Hopefully it does drop further so I can average down into a large position. I briefly laid out [...]
A few weeks back, I penned an article questioning Chesapeake Energy’s (CHK) management and their ability to deliver value for shareholders, despite amassing a wealth of assets. While these doubts do not preclude me from holding my long position in CHK preferred D shares, I hesitate to add to my position, as CHK already comprises [...]
To my knowledge, it was Seth Klarman who first invoked the classic 80/20 rule as it pertains to investing: 80% of useful information to an investor will come in the initial 20% of research. Beyond that, investors face diminishing returns in terms of knowledge affecting an investment. The success of an investment usually hinges on [...]
THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: +7.2% through August 1st, 2011 (my actual IRR, including cash balance) DJIA: +4.8% Nasdaq: +3.5% S&P 500: +2.3% DJ Wilshire 5000: +2.2% Russell 2000 (smallcap): +1.2% I must admit some pleasure at walking away from the portfolio for a month only to return to YTD results showing us outperforming [...]
