With all of the furor over the past quarter, I did not update my actions on my portfolio. Today I do so.
- Archer Daniels Midland (ADM)
- Chevron Texaco (CVX)
- General Dynamics (GD)
- Mosaic (MOS)
- Noble Energy (NBL)
- Oracle (ORCL) (can you believe it?)
- iShares Brazil ETF (EWZ)
- Charlotte Russe (CHIC)
- Cimarex Energy (XEC)
- Kapstone (KPPC)
- CRH plc (CRH)
- Devon Energy (DVN)
- Tsakos Energy Navigation (TNP)
- Japan Smaller Capitalization Fund (JOF)
My candidates list was smaller than usual, as I strictly limited candidates to be solvent in severe scenarios, such as we are facing now. Nonetheless, here was my list of replacement candidates:
My favorite of those I did not buy was Stancorp (SFG). If I could add more insurers, I would add them. Stancorp is a very well run firm.
I traded Brazil for Japan, and cleaned up my portfolio, trading away names with weaker balance sheets for those with stronger balance sheets, and aimed for industries that were not heading into reverse.
Full disclosure: long ADM, CVX, GD, MOS, NE, ORCL, EWZ, AIZ, IBA, LNT, NUE, NTE, RGA, SAFT, SBS, SCVL, VLO, and VSH.