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Performance - 10/18/2013

Recs

3

October 20, 2013 – Comments (0) | RELATED TICKERS: ABFS , DAR , CLF

Admittedly I am irritated. Thanx to the government shutdown, I had actually begun to think that the band of 537 would continue to walk around with their hands in each other’s pants, affording me the opportunity to take advantage of the market’s reaction to a government default on U.S. debt.

I recognized that the odds were long that a default would occur, just as I recognized that the entire group I was betting on were all felines of the highest order, unable to do the right thing for all of their entire political lives. But still; I was hopefully.

In the end of course, the party with all of the stones ended up with no stones, the other party got what they wanted, government workers got a 16 day paid holiday, and the American electorate, the voters for you following at home, got the green weenie.

And that my friends will bring us to contrition time. You know the drill. The band of 537, less two, will now go back to their constituents, the folks back home that actually voted for these spineless pukes, and apologize. And then, they will blame everyone but themselves for the ineptitude that is American politics.

In the end of course, you already know what will happen. Good job! Yep that’s right. To a person, every single one of the group of 535 will be returned to office, and it will be as if none of this ever happened.

And why will they be returned to office? Because the vast majority of the American electorate is lazy, unable to think for themselves, eager to line up at the cow paddy trough, anxious to suck in all of the air warmed in the bowels of those they elect.

No; you think me to harsh in my assessment? Then how did the group of 535 get to be the group of 535?

Hi. My name is Wax, and I am an individual, working class, investor just trying to do the best I can in a world that was never intended for investors like me.

Throughout the course of the week, I post a Daily Alert, which is my review of an individual equity. It is intended to help the reader decide if that particular equity is worth their time to research.

The other thing I do, is let the world watch as I manage the The Wax Ink Portfolio.

Perhaps watching me make the mistakes I make will help other working class investors avoid the investing pitfalls that seem to find me.

Enjoy your weekend

Wax

Markets
The Wax Ink Portfolio was up 2.5% for the week. By comparison, the Dow was up 1.1%, the Nasdaq was up 3.2%, the S&P 500 was up 2.4%, the Russell 2000 was up 2.8%, and the Volatility Index, commonly known as the VIX, was down 17%.

Year to date, the Wax Ink portfolio is up 30.5%, the Dow is up 17.5%, the Nasdaq is up 29.6%, the S&P 500 is up 22.3%, the Russell 2000 is up 31.2%, and the VIX is down 14.4%.

Breakdown
The Wax Ink Portfolio breakdown remains unchanged with roughly 70% of the portfolio in equities, 30% of the portfolio in cash, and 0% of the portfolio in bonds.

Research
iRobot Corporation (Nasdaq: IRBT) – No Investment Interest

ITC Holdings (NYSE: ITC) – No Investment Interest

Life Technologies (Nasdaq: LIFE) – No Investment Interest

Manhattan Associates (Nasdaq: MANH) – Negative Investment Interest

Holdings
This week's moving on up stocks were trucker Arkansas Best (Nasdaq: ABFS), up 19%, chicken grease collector Darling International (NYSE: DAR), up 7%, and iron ore company Cliffs Natural Resources (NYSE: CLF) was up 7%.

This week's floaters in the bunch bowl were ultra capacitor maker Maxwell Technologies (Nasdaq: MXWL), down 4%, small tool maker L.S. Starrett (NYSE:SCX), down 1%, and pill maker Cubist Pharmaceuticals (Nasdaq: CBST), down 1%.

Not Performing
The top portfolio choke and puke stocks remain communications equipment company Tellabs, down 57% since being added to the portfolio, iron ore company Cliffs Natural Resources, down 31% since being added to the portfolio, and garage door and telephone headset maker Griffon Corporation, down 29% since being added to the portfolio.

Copyright © 2013 Wax Ink

Wax Ink is a baseline equity research company not licensed or registered with any government agency

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