Put the truck back in gear
For the past few years I've been making some "back up the truck" calls in this space. If you paid attention and followed suit, today you were rewarded with a one-bagger in CMG and a two-bagger in GHM.
I'm 97% in, about 75% in US equities, 10% in foreign equities, and the rest junk bond and convertible funds.
I am still turning over rocks, like I always do, but as occasionally occurs, I am not finding a lot of juicy bugs. Valuations are starting to look appropriate-to-high. If you've been following this blog, you know I think that GHM at a price of 39 is overpriced for future growth; CMG at a P/E of 44 is still a great long-term (20 years) growth story, but I think the next few years - maybe 5 years - of comp and same store growth may be priced in!
Peter Lynch always used to advise that you not take advice from your cabby or shoeshine boy - "Do you think he'll tell you when to sell?" was his complaint.
Well, I don't tell people what to do, but if you bought those stocks because I told you they were going to go up, and you want to know when I think you ought to sell them:
I sold half my GHM - a stop-limit kicked in; I let the CMG be; and I am keeping a pretty close eye on things. If the S+P starts nearing 1920 I am going to start getting out of things just with a market-timer's eye to getting back into them at more reasonable values.