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Scott Wachsler
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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
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  • Performance - Week Ending 08/28/2015

    The Wax Ink Portfolio was down 7.1% for the week.

    By comparison, the Dow was up 1.1%, the Nasdaq was up 2.6%, the S&P 500 was up 0.9, the Russell 2000 was up 0.5%, and the Volatility Index, commonly known as the VIX, was down 7.1%.

    Year to date, the Wax Ink portfolio is down 5.2%, the Dow is down 6.6%, the Nasdaq is up 1.9%, the S&P 500 is down 3.4%, the Russell 2000 is down 3.5%, and the VIX is higher by 89.9%.

    The portfolio breakdown is roughly 57% cash, 43% equities, and 0% bonds. The total number of shares held changed increased by 4000 with the addition of Marathon Oil.

    Weekly Winners
    This week's portfolio winners were offshore oil rig contractor McDermott International (NYSE: MDR), up 25%, agricultural chemicals company Agrium, Inc. (NYSE: AGU), up 6%, and independent oil company Marathon Oil Corporation (NYSE: MRO), up 6%.

    Weekly Losers
    This week's portfolio losers were chicken grease king Darling Ingredients (NYSE: DAR), down 2%, and refiner HollyFrontier Corporation (NYSE: HFC), down 2%, down 9%.

    Portfolio Duds
    The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 8% (down 0.06% for the week) since being added to the portfolio, and municipal construction company Layne Christensen (NASDAQ: LAYN), down 54% (up 1% for the week) since being added to the portfolio, and offshore supply company Tidewater, Inc. (NYSE: TDW), down 4% (down 9% for the week) since being added to the portfolio.

    Fair Warning
    As noted last week, I concentrated on adding at least one stock to the portfolio this week, and was able to add 4000 shares of Marathon Oil Corporation with an average cost basis if $14.52. Also as noted over the past several months, I think it is time for Darling Ingredients to go. I will be watching for opportunities to close my position over the coming weeks.

    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.

    AeroVironment, Inc. (NASDAQ: AVAV) - FYE 04/2015

    Marathon Oil Corporation - FYE 12/2014

    TransOcean, Ltd. (NYSE: RIG) - FYE 12/2014

    Dorman Products, Inc. (NASDAQ: DORM) - FYE 12/2014

    Ampco-Pittsburgh Corporation (NYSE: AP) - FYE 12/2014

    Tredgear Corporation (NYSE: TG) - 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 AeroVironment at $23-$31, Marathon Oil Corporation at $53-$58, TransOcean at $78-$79, Dorman Products at $43-$52, Ampco-Pittsburgh at $32-$39, and Tredgear Corporation at $24-$30.

    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

    Aug 29 9:41 AM | Link | Comment!
  • Performance - Week Ending 08/14/2015

    Performance - Week Ending 08/14/2015
    The Wax Ink Portfolio was down 2.0% for the week.

    By comparison, the Dow was up 0.6%, the Nasdaq was up 0.1%, the S&P 500 was up 0.7, the Russell 2000 was up 0.5%, and the Volatility Index, commonly known as the VIX, was down 4.2%.

    Year to date, the Wax Ink portfolio is up 6.5%, the Dow is down 1.9%, the Nasdaq is up 6.6%, the S&P 500 is up 1.6%, the Russell 2000 is up 0.7%, and the VIX is lower by 6.5%.

    The portfolio breakdown is roughly 58% cash, 42% equities, and 0% bonds. The total number of shares held changed with the sale of Kaman Corporation and the addition of Tidewater, Inc.

    Weekly Winners
    This week's portfolio winners were chicken grease processor Darling Ingredients (NYSE: DAR), up 12%, refiner HollyFrontier Corporation (NYSE: HFC), up 5%, and tire and rubber king Goodyear Tire and Rubber Company (NASDAQ:GT), up 5.0%.

    Weekly Losers
    This week's portfolio losers were cigarette paper maker Schweitzer-Maudit International, Inc. (NYSE: SWM), down 4%, offshore oil rig contractor McDermott International (NYSE: MDR), down 3%, and offshore supply company Tidewater, Inc. (NYSE: TDW), down 1%.

    Portfolio Duds
    The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 5% (down 1% for the week) since being added to the portfolio, and municipal construction company Layne Christensen (NASDAQ: LAYN), down 58% (up 3% for the week) since being added to the portfolio.

    Fair Warning
    As noted several weeks ago, I closed my position in Kaman Corporation this week, selling 2000 shares with a cost basis of $24.29, at $39.52 for a 63% return over a 2611 day hold. In addition, I have added Tidewater, Inc. to the portfolio, purchasing 3000 shares with a cost basis of $17.77 including fees.

    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.

    Tidewater, Inc. - FYE 03/2015

    Modine Manufacturing Company (NYSE: MOD) - FYE 03/2015

    Orbital ATK, Inc. (NYSE: OA) - FYE 03/2015

    Patterson Companies, Inc. (NASDAQ: PDCO) - FYE 04/2015

    Triumph Group, Inc. (NYSE: TGI) - FYE 03/2015

    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 Tidewater at $67-$70, Modine Manufacturing at $19-$21, Orbital ATK at $17-$23, Patterson Companies at $37-$45, and Triumph Group at $44-$47.

    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

    Aug 15 9:11 AM | Link | Comment!
  • Performance - Week Ending 08/07/2015

    Performance - Week Ending 08/07/2015
    The Wax Ink Portfolio was down 0.3% for the week.

    By comparison, the Dow was down 1.8%, the Nasdaq was down 1.7%, the S&P 500 was down 1.2, the Russell 2000 was down 2.6%, and the Volatility Index, commonly known as the VIX, was up 10.5%.

    Year to date, the Wax Ink portfolio is up 8.6%, the Dow is down 2.5%, the Nasdaq is up 6.5%, the S&P 500 is up 0.9%, the Russell 2000 is up 0.2%, and the VIX is lower by 2.4%.

    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 winners were refiner HollyFrontier Corporation (NYSE: HFC), up 4.0%, rubber and tire king Goodyear Tire and Rubber Company (NYSE: GT), up 3.0%, and offshore oilfield contractor McDermott International, Inc. (NYSE: MDR), up 2.0%.

    Weekly Losers
    This week's portfolio losers were cigarette paper maker Schweitez-Maudit International, Inc. (NYSE: SWM), down 7%, chicken grease processor Darling Ingredients (NYSE: DAR), down 4%, and maker of damn near everything General Electric, down 1%.

    Portfolio Duds
    The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 4% (unchanged for the week) since being added to the portfolio, and municipal construction company Layne Christensen (NASDAQ: LAYN), down 50% (down 4% for the week) since being added to the portfolio.

    Fair Warning
    I had intend to close my position in Kaman Corporation this week, but I was simply too busy at work to worry about it. Regardless, it is still on the chopping block.

    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.

    WESCO International, Inc. (NYSE: WCC) - FYE 12/2014

    Xerox Corporation (NYSE: XRX) - FYE 12/2014

    BestBuy Company, Inc. (NYSE: BBY) - FYE 02/2015

    Airgas, Inc. (NYSE: ARG) - FYE 03/2015

    Hawkins, Inc. (NASDAQ: HWKN) - FYE 03/2015

    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 WESCO International at $57-$60, Xerox Corporation at $21-$27, BestBuy at $50-$56, Airgas at $68-$70, and Anixter International at $67-$75.

    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

    Aug 08 9:15 AM | Link | Comment!
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