The Wax Ink Portfolio was down 3.8%for the week.
By comparison, the Dow was up 1.0%, the Nasdaq was up 0.5%, the S&P 500 was up 1.0%, the Russell 2000 was down 3.8%, and the Volatility Index, commonly known as the VIX, was down 11.3%.
Year to date, the Wax Ink portfolio is down 8.1%, the Dow is down 7.6%, the Nasdaq is down 0.6%, the S&P 500 is down 5.2%, the Russell 2000 is down 7.5%, and the VIX is higher by 52.6%.
The portfolio breakdown is roughly 56% cash, 44% equities, and 0% bonds. The total number of shares increase by 2000.
This week's portfolio winners were refiner Marathon Oil Corporation (NYSE: MRO), up 6%, cigarette paper maker Schweitzer-Maudit International (NYSE: SWM), up 3%, and really big company General Electric (NYSE: GE), up 2%.
This week's portfolio losers were ag chemical company Agrium, Inc. (NYSE: AGU), down 2%, offshore contractor McDermott International (NYSE: MDR), down 3%, and rubber king Goodyear Tire and Rubber (NYSE: GT), down 2%.
The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 10% (up 2% for the week) since being added to the portfolio, municipal construction company Layne Christensen (Nasdaq: LAYN), down 56% (up 14% for the week) since being added to the portfolio, and offshore supply company Tidewater, Inc. (NYSE: TDW), down 7% (up 3% for the week) since being added to the portfolio.
As I noted I last week I would be doing, I was able to increase my position in Tidewater during the week, adding 2000 shares. Over the past several years I have been positioning the portfolio in a manner consistent with exiting the markets altogether, given that my working life is nearing its end. But I am now rethinking that decision, and considering adding some longer term additions to the portfolio. Stay tuned.
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.
Myers Industries, Inc. (NYSE: MYE) - FYE 12/2014
Sonoco Products Company (NYSE: SON) - FYE 12/2014
Gilead Sciences, Inc. (Nasdaq: GILD) - FYE 12/2014
Under Armour, Inc. (NYSE: UA) - FYE 12/2014
BorgWarner, Inc. (NYSE: BWA) - FYE 12/2014
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 Myers Industries at $6-$11, Sonoco Products at $32-$38, Gilead Sciences at $69-$70, Under Armour at $28-$40, and BorgWarner at $38-$45.
Have a great week.
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