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Joseph P. Porter
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I am a retired college faculty in Philosophy, with specializations in Ethics, Socio-political Theory and Rational Choice/Decision Theory. My teaching focus was on Business Ethics, Medical Ethics and Logic. After retirement I freelanced as a Grant Writer/Fund Raising Consultant. I have taught at... More
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  • Dogging It: Week 35 - The Summer Swoon 3 comments
    Aug 31, 2013 2:45 PM

    So both the Dow and S&P 500 have had their worst months since May, 2012. The portfolios have performed fairly miserably since around May 17; I can't even begin to figure when (or where) this will all end, but Q3 2013 is shaping up to be a major downer.

    Some off-the-cuff observations (going by performance):

    the PICs of the S&P are at their lowest point since week 17 (April 26);

    the Dogs of the S&P are at their lowest since July 19, but they've been on a roller coaster for the past few months, and were at 9.84% on April 26 (3 bps higher than this week);

    the PICs of the Dow are at their lowest point since April 26;

    the Dogs of the Dow are at their lowest point since April 19.

    So, for all intents and purposes, the past four months have amounted to squat. This is the worst summer I've had, next to the summer I spent with my in-laws.

    The Dow:

    (click to enlarge)

    The PICs were down by 168 bps, while the Dogs were down by 157 bps. (The Dow itself was down 153 bps.) Big loser: Microsoft Corp (NASDAQ:MSFT)(down by 498 bps!). Only stock in all four portfolios to move up: Chevron Corp. (NYSE:CVX)(up by a whopping 83 bps!).

    The S&P 500:

    (click to enlarge)

    The PICs are down by 293 bps for the week, while the Dogs are down 355 bps. (The S&P 500 is down 214 bps.) No companies were up for the week; the biggest loser for the PICs was Seagate Technology PLC (NASDAQ:STX), which dropped 595 bps; Seagate was overshadowed by the two hottest members of the Dog portfolio: Pitney Bowes Inc. (NYSE:PBI), which was down by 950 bps, and R.R. Donnelley & Sons Co. (NASDAQ:RRD), which dropped 890 bps.

    (In case anyone was wondering, although both indexes had significant drops in July, for all intents and purposes, their current position is pretty much the lowest since April 26 -for the Dow - and May 3 - for the S&P.)

    Disclosure: I am long PFE.

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Comments (3)
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  • Miz Magic DiviDogs
    , contributor
    Comments (5151) | Send Message
    Condolences. . . on the stocks, the summer and the in-laws.


    2 Sep 2013, 07:36 PM Reply Like
  • Joseph P. Porter
    , contributor
    Comments (918) | Send Message
    Author’s reply » Thank you, Miz.


    It has been a frustrating few weeks, hasn't it? The in-laws thingy was decades ago, but I haven't fully recovered yet. I don't know if there is any recovering one can do for a dysfunctional marketplace, though.
    2 Sep 2013, 09:45 PM Reply Like
  • Miz Magic DiviDogs
    , contributor
    Comments (5151) | Send Message
    It certainly has been a volatile summer! Mr Market has always been bipolar, got to have a strong constitution to play with him. :)


    Glad the in-law thing was a while ago. Maybe in another couple of decades you'll be over it!


    2 Sep 2013, 10:25 PM Reply Like
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