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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
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Wax Ink
  • Performance - Week Ending 06/28/13 0 comments
    Jun 30, 2013 10:28 AM | about stocks: TNC, WWW, XRX, ALGN, CR, CTG, ARCB, LDOS, GFF, CLF, LAYN, WOR

    The proliferation of financial articles in the news is at an all time high. It seems everyone that has ever invested a nickel in the stock market is now an expert at predicting the financial future of the world.

    Last week it was all about how at long last, the markets were finally going to start correcting and the "smart" money was advising everyone to move to cash.

    Then this week, as if by some miracle, all of the financial blabbers that were advising everyone to get out of the market to avoid the slaughter the correction was going to create, were telling anyone that would listen to get into the market so they didn't miss the coming run up.

    No bad when you think about it. A market correction, and the start of a new bull market, both within 5 days. Impressive.

    If listening to the predictive babble that won't do one thing for your portfolio is your thing, there are truly some kings out there that can you can choose to focus on.

    Just understand that when you implement that advice, you are going to be in and out of the markets and numerous individual stocks many times over the course of a year.

    And that jumping in and out, moving all about, is going to cost you in two ways. The first of course is additional trading fees. That may not seem costly, but multiplied over a lifetime of investing, it will be significant.

    The second way it will cost you is that during all of that in and out, you are going to miss the start of a new bull market run, and by the time you are actually able to establish the positions you want, you are going to be behind the rest of the market by 15 or more percent.

    Factor that in over a lifetime of investing and it will become an enormous sum of money.

    I'm just saying. It happens, and it is something the Wizards of Wall Street, won't tell you because it is something they never consider!

    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. It is intended to help the reader decide if that particular equity is worth their time to research.

    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.

    Enjoy your weekend and have a great 4th!

    Wax

    Markets
    The Wax Ink Portfolio was up 1.3% for the week. By comparison the Dow was up 0.7%, the Nasdaq was up 1.4%, the S&P 500 was up 0.9%, and the Russell 2000 was up 1.4%.

    The Volatility Index, commonly known as the VIX, was down 10.8% for the week, closing at 16.86. The VIX is now up 10.6% for the year.

    Year to date, the Wax Ink portfolio is up 8.5% while the Dow is up 13.8%, the Nasdaq is up 12.7%, the S&P 500 is up 12.6% and the Russell 2000 is up 15.1%.

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

    Research
    I finished baseline equity reviews on the following companies during the course of the week. My rating follows the ticker symbol.

    Tennant Company (NYSE: TNC) - No Investment Interest

    Wolverine World Wide, Inc. (NYSE: WWW) - Loss of Investment Interest

    Xerox Corporation (NYSE: XRX) - Exploratory Investment Interest

    Align Technology, Inc. (Nasdaq: ALGN) - No Investment Interest

    Crane Company (NYSE: CR) - Loss of Investment Interest

    Computer Task Group, Inc. (Nasdaq: CTGX) - No Investment Interest

    Holdings
    This week's moving on up stocks were trucking company Arkansas Best Corporation (Nasdaq: ABFS), up 21%, government and technical services contractor SAIC, Inc. (NYSE: SAI), up 7%, and garage door and telephone headset maker Griffon Corporation (NYSE: GFF), up 6%.

    This week's floaters in the bunch bowl stocks were iron ore/coal company Cliffs Natural Resources (NYSE: CLF), down 5%, industrial and municipal construction contractor Layne Christensen Company (Nasdaq: LAYN), down 4%, and steel cylinder maker Worthington Industries, Inc. (NYSE: WOR), down 3%.

    Not Performing
    The top portfolio non-performers remain communications equipment company Tellabs, Inc., down 63% since being added to the portfolio, iron ore company Cliffs Natural Resources, Inc., down 52% since being added to the portfolio, and garage door/telephone headset maker Griffon Corporationdown 37% since being added to the portfolio.

    Wax Ink is a baseline equity research company comprised of individual investors NOT licensed or registered with ANY government agency.

    Disclosure: I am long ABFS, SAI, GFF, CLF, LAYN, WOR.

    Themes: Portfolio Management Stocks: TNC, WWW, XRX, ALGN, CR, CTG, ARCB, LDOS, GFF, CLF, LAYN, WOR
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