Bank of America (BAC) - [current holding] Well, it's not like I did anything special on this one this year. Basically, I have a dividend reinvestment program [DRIP] with BoA through Computershare, and just kept that going. It was a good year for the company and the stock and the stock was up over 18%. Not to mention I picked up a 4.3% dividend on top of that.
Duke Energy (DUK) - [current holding] Similar to BoA, I've got a DRIP with Duke (though this one is directly with the company). Duke's stock also had a good year and ended up 24% (along with a 4.4% dividend), part of that coming when higher volatility stocks were turning south over the summer and some further gains coming as the company was getting ready to realize some value by spinning off its Spectra Energy (SE) subsidiary.
Suntech Power (STP) - [current holding] This was probably my best stock of the year, but a lot of my gains were gotten by trading around a core position. As with most of the stocks that could be lumped under the heading of "alternative energy," Suntech had a pretty volatile year, though sentiment swings were seemed relatively predictable for Suntech. Besides, I had confidence in my valuation of Suntech and felt pretty good about buying on its dips. I'm still holding some Suntech because I think it is a well-run company and has some room left, but I've pared back my holdings significantly. Though it's jumped around, Suntech was up 26% for 2006.
Marvell Technology Group (MRVL) - Ouch. Blew it on this one. Admittedly I got a little caught up in how well the market was doing at the beginning of '06 and picked up this at a price that I shouldn't have. I also wrote a couple articles on Marvell, which were likewise off-the-mark. Overall, Marvell ended the year down 34%. My moral from Marvell? Be careful when using forward P/E multiples along with forward growth projections -- that's one too many estimates to be really safe.
Kongzhong (KONG) - Ouch part II. As opposed to Marvell, where I just shouldn't have bought, Kongzhong I needed to hold on to. I didn't pick it up at the peak of the year, but I also sure didn't pick it up at the trough either. KONG finished the year down 22%, but at its bottom-most point it was down 55%. There are still some concerns that I have around KONG's business, including the customer concentration, but I think it's a pretty nice stock.
Western Refining (WNR) - [current holding] There aren't many refiners in the U.S., and so the IPO of Western Refining in early '06 seemed like a good opportunity to pick up some decently priced shares of one. So far it has paid off -- shares bought on the day of the IPO were up 34% for '06. Of course, when the stock dipped well under the IPO price a few times during the year, I took advantage of the opportunity to add to my position.
Goldman Sachs (GS) - [current holding] My thinking behind holding Goldman isn't that complex: high-end asset management and i-banking are good, profitable businesses and Goldman is at the top of the heap. On top of all of that, the company's prop trading makes it like holding a publicly traded hedge fund. Up 56% for the year, apparently there were a few others who thought the same way.
True Religion (TRLG) - [current holding] It's not like True Religion was down much for the year (~2%), but investors who got in in the first half of the year certainly can't be happy. Third quarter results cratered the stock, sending it down 27%. I wasn't happy about the quarter, but I didn't see sufficient reason to shed the stock so it's still in my portfolio.
Dell (DELL) - [current holding] Dell was down 18% for the year, but it wasn't until toward the end of the year that I bought some for myself. The company didn't do anything that really made me think "wow Dell is really back on the right track" -- it was more that the price just got too low while the company continued to do reasonably well and churn out cash. I finished the year up, but it remains to be seen whether I made a good call on this one.
All in all, 2006 was a decent year; I pulled in 15.2% versus the S&P's 11.8%. Large caps played a pretty significant part in my 2006, but looking out into '07, I think I'll probably be looking more towards smaller caps ($5 billion and under). This isn't because I think that small caps as a group are undervalued vis a vis large caps, but more that I see small caps in general as having more opportunity. It's likely I'll hang onto Goldman because I like Goldy so darn much, but the other large caps in my portfolio will likely get dropped off.
That's it for the review - it didn't cover every stock I held/bought/sold in '06, but it did get most of 'em. Before you go, be sure to check out the Average Joe store that I added over on the right hand side. It's all kinds of fun stuff customized through CafePress.com. The t-shirts in particular are great, they're American Apparel shirts and very comfy (just note that the "organic" shirt is an off-white color). Anyway, that's it for now.