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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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Wax Ink
  • Performance - Week Ending 04/26/2013 0 comments
    Apr 28, 2013 9:42 AM

    I mentioned last week that one of the main disadvantages to managing your own portfolio was, at least to me, absenteeism.

    As I noted, the duties of work, and hearth and home occupy our time leaving little room for portfolio management.

    Some of us of course are a bit head strong and believe we can do a good job of managing those few dollars we are able to save...all by ourselves.

    As I hope I have demonstrated by now, while there are those of us that have the time and can indeed manage our own investments, it is not without numerous challenges.

    The trick of course is to pick great companies and add them to the portfolio when they go on sale. And that is not an easy chore, as those that follow this page certainly know by now.

    What defines a great company? What is a fair value for the stock? When do stocks go on sale? With little time, what stocks should I be researching? Lot's of questions, very few answers.

    Throughout the course of the week, I post a new Daily Alert every day, which may be of some assistance in answering the prior questions. At least I hope it is.

    Hi. My name is Wax, and I am an individual investor, a working class investor, just trying to do the best I can in a world that was never intended for investors like me.

    Every week (or so) in this space I let the world see how I am managing the The Wax Ink Portfolio, and I do so in hopes of helping other working class investors avoid the investing pitfalls that found me when I was starting on my investing journey.

    Markets
    The Wax Ink Portfolio closed up 2.3% for the week. By comparison the Dow was up 1.1%, the Nasdaq was up 2.3%, the S&P 500 was up 1.7%, and the Russell 2000 was up 2.5%.

    The Volatility Index, commonly known as the VIX, was the big loser for the week, closing closed at 13.61, down 9.1%. The VIX is now down 10.7% for the year.

    Year to date, the Wax Ink portfolio is up 2.3% while the Dow is up 12.3%, the Nasdaq is up 8.6%, the S&P 500 is up 10.9% and the Russell 2000 is up 10.1%.

    Breakdown
    The portfolio breakdown remains the same, with 70% of the portfolio in equities, 30% of the portfolio in cash, and 0% of the portfolio in bonds.

    Research
    I paid little attention to the research list last week, there just wasn't any time to devote to it.

    Holdings
    This week's moving on up stocks were ultra-capacitor maker Maxwell Technologies, Inc. (Nasdaq: MXWL), up 19%, iron ore company Cliffs Natural Resources, Inc. (NYSE: CLF), up 14%, and aerospace engineering and manufacturing company Ducommun, Inc. (NYSE: DCO), up 11%.

    This week's turd in the bunch bowl stocks were government engineering and construction company URS Corporation (NYSE: URS), down 3%, garage door/telephone headset maker Griffon Corporation (NYSE: GFF), down 3%, and agricultural chemicals company Agrium, Inc. (NYSE: AGU), down 1%.

    Not Performing
    The top non-performers remain communications equipment company Tellabs, Inc. (Nasdaq: TLAB), down 63% since being added, Cliffs Natural Resources, Inc. (NYSE: CLF), down 40% since being added, garage door/telephone headset maker Griffon Corporation (NYSE: GFF), down 44% since being added.

    Wax

    Wax Ink is a baseline equity research company comprised of individual investors NOT licensed or registered with ANY government agency. Always obtain the advice of a registered investment professional BEFORE believing any information contained herein.

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