We do, however, have last year’s portfolio, and the returns show that the 57th year of the Uncommon Values portfolio was probably one of its worst. Overall, the portfolio declined by 4.6% vs. a 2.6% gain for the S&P 500. On an individual basis, the results were even more forgettable, as only one of the ten stocks in the portfolio rose in price.
Turning our attention to this year’s portfolio, we looked to see if there were any stocks from last year’s portfolio that were also included in this year’s. After all, if the stocks were all such great values last year, they should be even better values this year. However, the appearance of Phelps Dodge on the list again this year surprised us given that it was not only the only stock to rise last year, but also because it was up over 65%.