Seeking Alpha

Scott Wachsler's  Instablog

Scott Wachsler
Send Message
I manage Wax Ink.net, a baseline equity research company comprised of individual investors not licensed or registered with any government agency. I have been all cap value investor and independent equity researcher for the past 30 years, and believe that patience is the key to successful... More
My company:
Wax Ink
My blog:
Wax Ink
View Scott Wachsler's Instablogs on:
  • Performance - Week Ending 07/24/2015

    The Wax Ink Portfolio was down 1.1% for the week.

    By comparison, the Dow was down 2.9%, the Nasdaq was down 2.3%, the S&P 500 was down 2.2, the Russell 2000 was down 1.1%, and the Volatility Index, commonly known as the VIX, was up 15.0%.

    Year to date, the Wax Ink portfolio is up 8.0%, the Dow is down 1.4%, the Nasdaq is up 7.4%, the S&P 500 is up 1.0%, the Russell 2000 is up 1.8%, and the VIX is higer by 0.1%.

    The portfolio breakdown is roughly 57% cash, 43% equities, and 0% bonds. The total number of shares held remains the same.

    Weekly Winners
    This week's portfolio winner was refiner HollyFrontier Corporation (NYSE: HFC), up 0.17%.

    Weekly Losers
    This week's portfolio losers were offshore construction company McDermott International (NYSE: MDR), down 11%, maker of lots of stuff General Electric (NYSE: GE), down 5%, and rubber king Goodyear Tire and Rubber, (NYSE: GT), down 4%.

    Portfolio Duds
    The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 13% (down 3% for the week) since being added to the portfolio, and municipal construction company Layne Christensen (NASDAQ: LAYN), down 46% (down 4%for the week) since being added to the portfolio.

    Fair Warning
    As I noted last week, I closed my position in Worthington Industries selling 600 shares with a cost basis of $15.34, at $27.91 for an 82% return over a 3216 day hold.

    Worksheets
    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.

    Owens Corning (NYSE: OC) - FYE 12/2014

    Aegion Corporation (NASDAQ: AEGN) - FYE 12/2014

    Orion Marine Group, Inc. (NYSE: ORN) - FYE 12/2014

    Clean Harbors, Inc. (NYSE: CLH) - 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 Owens Corning at $35-$42, Aegion Corporation at $25-$33, Orion Marine Group at $16-$23, and Clean Harbors at $50-$58.

    Have a great week.

    Wax

    Wax Ink is a baseline equity research company not licensed or registered with any government agency
    Copyright © 2015 Wax Ink

    Jul 25 9:44 AM | Link | Comment!
  • Performance - Week Ending 07/17/2015

    The Wax Ink Portfolio was up 0.7% for the week.

    By comparison, the Dow was up 1.8%, the Nasdaq was up 4.3%, the S&P 500 was up 2.4, the Russell 2000 was up 1.2%, and the Volatility Index, commonly known as the VIX, was down 29.0%.

    Year to date, the Wax Ink portfolio is up 7.5%, the Dow is up 1.5%, the Nasdaq is up 10.0%, the S&P 500 is up 3.3%, the Russell 2000 is up 5.2%, and the VIX is lower by 12.9%.

    The portfolio breakdown is roughly 56% cash, 44% equities, and 0% bonds. The total number of shares held remains the same.

    Weekly Winners
    This week's portfolio winners were rubber and plastics king Goodyear Tire and Rubber Company (NYSE: GT), up 5%, and maker of almost everything General Electric (NYSE: GE), up 4%, and refiner HollyFrontier Corporation (NYSE: HFC).

    Weekly Losers
    This week's portfolio losers were offshore construction company McDermott International (NYSE: MDR), down 5%, steel cylinder maker Worthington Industries (NYSE: WOR), down 4%, and chicken grease recycler Darling Ingredients, (NYSE: DAR), down 3%.

    Portfolio Duds
    The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 10% (unchanged for the week) since being added to the portfolio, and municipal construction company Layne Christensen (NASDAQ: LAYN), down 44% (up 3%for the week) since being added to the portfolio.

    Notice
    I will close my position in Worthington Industries, selling at the open on Monday.

    Worksheets
    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.

    Kulicke and Soffa Industries (NASDAQ: KLIC) - FYE 09/2014

    Gulf Island Fabrication, Inc. (NASDAQ: GIFI) - FYE 12/2014

    Olympic Steel, Inc. (NASDAQ: ZEUS) - FYE 12/2014

    Albany International Corporation (NYSE: AIN) - FYE 12/2014

    The Dixie Group, Inc. (NASDAQ: DXYN) - 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 Kulicke and Soffa Industries at $26-$34, Gulf Island Fabrication at $30-$37, Olympic Steel at $43-$51, Albany International at $34-$40, and The Dixie Group at $7-$10.

    Have a great week.

    Wax

    Wax Ink is a baseline equity research company not licensed or registered with any government agency
    Copyright © 2015 Wax Ink

    Jul 18 9:44 AM | Link | Comment!
  • Performance - Week Ending 07/10/2015

    The Wax Ink Portfolio was down 0.4% for the week.

    By comparison, the Dow was up 0.2%, the Nasdaq was down 0.2%, the S&P 500 was unchanged, the Russell 2000 was up 0.3%, and the Volatility Index, commonly known as the VIX, was up 0.2%.

    Year to date, the Wax Ink portfolio is up 6.8%, the Dow is down 0.4%, the Nasdaq is up 5.5%, the S&P 500 is up 0.9%, the Russell 2000 is up 3.9%, and the VIX is higher by 22.4%.

    The portfolio breakdown is roughly 57% cash, 43% equities, and 0% bonds. The total number of shares held decreased by 1000 this week with the sale of LB Foster Company.

    Weekly Winners
    This week's portfolio winners were specialty chemical maker WR Grace and Company (NYSE: GRA), up 1%, and refiner HollyFrontier Corporation (NYSE: HFC), up 1%.

    Weekly Losers
    This week's portfolio losers were chicken grease processor Darling Ingredients (NYSE: DAR), down 4%, tire and rubber king The Goodyear Tire and Rubber Comapny (NYSE: GT), down 4%, and steel cylinder maker Worthington Industries, (NYSE: WOR), down 3%.

    Portfolio Duds
    The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 10% (up 1% for the week) since being added to the portfolio, and municipal construction company Layne Christensen (NASDAQ: LAYN), down 46% (down 1% for the week) since being added to the portfolio.

    Notice
    I closed my position in The LB Foster Company, selling at $33.83 for an 18% gain. I still believe the reason for the purchase, replacement of America's infrastructure, was sound. Where this holding went south, was my reliance on the government since TARP money was supposed to pay for much of this work. So for me the lesson is to remember that the government consists of 537 primary players, all of whom are worthless souls.

    Worksheets
    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.

    RigNet, Inc. (NASDAQ: RNET) - FYE 12/2014

    SPX Corporation (NYSE: SPW) - FYE 12/2014

    Tennant Company. (NYSE: TNC) - FYE 12/2014

    The Timken Company (NYSE: TKR) - FYE 12/2014

    Snap-On Incorporated (NYSE: NCR) - 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 RigNet at $36-$44, SPX Corporation at $73-$83, Tennant Company at $48-$55, Timken Company at $43-$50, and Snap-On at $78-$82.

    Have a great week.

    Wax

    Wax Ink is a baseline equity research company not licensed or registered with any government agency
    Copyright © 2015 Wax Ink

    Jul 11 8:33 AM | Link | Comment!
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.