The Wax Ink Portfolio was down 2.9% for the week.
By comparison, the Dow was down 5.8%, the Nasdaq was down 6.8%, the S&P 500 was down 5.8, the Russell 2000 was down 4.6%, and the Volatility Index, commonly known as the VIX, was up 118.5%.
Year to date, the Wax Ink portfolio is up 3.5%, the Dow is down 7.6%, the Nasdaq is down 0.6%, the S&P 500 is down 4.3%, the Russell 2000 is down 4.0%, and the VIX is higher by 104.3%.
The portfolio breakdown is roughly 58% cash, 42% equities, and 0% bonds. The total number of shares held changed was unchanged.
Forget it. There were no winners this week. Probably won't be any next week either.
This week's portfolio losers were offshore oil rig contractor McDermott International (NYSE: MDR), down 14%, refiner HollyFrontier Corporation (NYSE: HFC), down 9%, and rubber and tire king Goodyear Tire and Rubber Company (NYSE: GT), down 9%.
The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 8% (down 4% for the week) since being added to the portfolio, and municipal construction company Layne Christensen (Nasdaq: LAYN), down 54% (down 12% for the week) since being added to the portfolio. In addition, offshore supply company Tidewater, Inc. (NYSE: TDW) joined the list of duds this week, down 10% (down 9% for the week) since being added to the portfolio.
The high speed computer traders are moving the markets. Huge positions are being sold off in under a second. I would expect this trend to continue over the course of the next several weeks. Since cash is roughly 58% of my portfolio I am actively looking for stocks to add to my portfolio instead of increasing positions in stocks I already own.
Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.
Worksheets updated last week may be downloaded by clicking on the links (company name) below.
Layne Christensen Company (Nasdaq: LAYN) - FYE 01/2015
Abaxis, Inc. (Nasdaq: ABAX) - FYE 03/2015
Graham Corporation (NYSE: GHM) - FYE 03/2015
RPM International, Inc. (NYSE: RPM) - FYE 05/2015
Please note that worksheets are updated basis the most current SEC 10-K ANNUAL filing.
Reasonable Value Estimates
Reasonable value estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease in accordance with their individual risk tolerance and investing philosophy.
Reasonable value estimates were established or revised this week for Layne Christensen at $6-$6, Abaxis at $31-$40, Graham Corporation at $34-$42, and RPM International at $30-$31.
Have a great week.
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