Scott Wachsler's  Instablog

Scott Wachsler
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I manage Wax, 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
  • Performance - Week Ending 05/17/2013 0 comments
    May 18, 2013 9:30 AM | about stocks: GT, GFF, LAYN

    It has been a very long work week for me, a common occurrence for many petro-chemical industry working folks.

    And while most of us are glad for the overtime, the smart ones among us know two things; the overtime won't last, and always live on your 40 hour pay and save the overtime.

    I can only imagine what such a statement sounds like to a white collar worker. Rather primitive I suppose.

    But that's okay. They earned their socio-economic positions and they should be proud of what they have accomplished.

    Over the years I have taken my lumps from this group of folks, all the while extracting from their brains the information I needed to make me better at my job.

    Also over the years I have practiced what I preached, which is to always live below your means. As I said earlier, live on your 40 and save the rest. And that is exactly what I have done.

    Today, I have a few bux in the bank, a few bux in savings, and I own a share or two of stock. Not bad for a working guy.

    I also have many of those well educated white collar workers asking me for investing advise.

    First of all, I do not give investing advise. I am simply not qualified to provide such advise and I have no desire to become qualified.

    What I do is provide information, information that I use to determine if I think a particular company is worthy of my time to research.

    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.

    Throughout the course of the week, I post a Daily Alert, which is my review of an individual equity.

    The other thing I do, is let the world watch as I manage the The Wax Ink Portfolio.

    Perhaps watching me make the mistakes I make will help other blue collar investors avoid the investing pitfalls that seem to find me.

    The Wax Ink Portfolio closed up 2.1% for the week. By comparison the Dow was up 1.6%, the Nasdaq was up 0.8%, the S&P 500 was up 2.1%, and the Russell 2000 was up 2.2%.

    The Volatility Index, commonly known as the VIX, was again the big loser for the week, closing at 12.45, down 1.1%. The VIX is now down 18.3% for the year.

    Year to date, the Wax Ink portfolio is up 9.9% while the Dow is up 17.2%, the Nasdaq is up 14.7%, the S&P 500 is up 16.9% and the Russell 2000 is up 17.3%.

    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.

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

    However, changes are coming.

    I am considering dumping the research list altogether and replacing it with a tracking list, which would be a list that tracks certain Value Alerts. Anyway, that's what I am considering.

    This week's moving on up stocks were tire and rubber company The Goodyear Tire and Rubber Company (NYSE: GT), up 15%, garage door/telephone headset maker Griffon Corporation (NYSE: GFF), up 7%, and industrial and heavy construction company Layne Christensen Company (Nasdaq: LAYN), up 7%.

    This week's turd in the bunch bowl stocks were iron ore company Cliffs Natural Resources, Inc. (NYSE: CLF), down 12%, ultra-capacitor maker Maxwell Technology, Inc. (Nasdaq: MXWL), down 4%, and grease and chicken parts recycler Darling International, Inc. (NYSE: DAR), down 2%.

    Not Performing
    The top non-performers remain communications equipment company Tellabs, Inc. (Nasdaq: TLAB), down 60% since being added, iron ore company Cliffs Natural Resources, Inc. (NYSE: CLF), down 38% since being added, and garage door/telephone headset maker Griffon Corporation (NYSE: GFF), down 36% since being added.


    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.

    Copyright © 2013 Wax Ink

    Disclosure: I am long GT, GFF, LAYN.

    Stocks: GT, GFF, LAYN
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