Seeking Alpha

Scott Wachsler's  Instablog

Scott Wachsler
Send Message
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
My company:
Wax Ink
My blog:
Wax Ink
  • Performance - Week Ending 07/26/2013 0 comments
    Jul 27, 2013 10:53 AM | about stocks: CPLA, CSL, CE, CLS, COH, FDML, HSII, CLF, HFC, LDOS, GRA, LAYN, GFF

    The following drama unfolded in the markets last week. I have no idea what difference it makes, but many investors are soiling their pants.

    May existing home prices fell 1.2%.
    Mr. Bernanke, the Federal Reserve Chairman, is leaving on January 31, 2014.

    Durable goods orders were unchanged.
    Mr. Bernanke, the Federal Reserve Chairman, is leaving on January 31, 2014.

    SAC Capital was indicted. Finally someone realizes that retail investors could be getting screwed.
    Mr. Bernanke, the Federal Reserve Chairman, is leaving on January 31, 2014.

    Long-term interest rates went from less than nothing to almost less than nothing.
    Mr. Bernanke, the Federal Reserve Chairman, is leaving on January 31, 2014.

    Japan's Nikkei Index fell 3.2%.
    Mr. Bernanke, the Federal Reserve Chairman, is leaving on January 31, 2014.

    Quarterly (unaudited) earnings were reported by 157 S&P 500 companies. Top line financial statement growth was lackluster.
    Mr. Bernanke, the Federal Reserve Chairman, is leaving on January 31, 2014.

    I have no idea how, or even if, these events impacted your portfolio. One can only hope that Ms. Claus does not give birth to triplets.

    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

    Wax

    Markets
    The Wax Ink Portfolio was down 1.1% for the week. By comparison the Dow was up 0.1%, the Nasdaq was up 0.7%, the S&P 500 was unchanged, and the Russell 2000 was down 0.3%.

    The Volatility Index, commonly known as the VIX, was up 1.4% for the week, closing at 12.72. The VIX is down 16.5% for the year.

    Year to date, the Wax Ink portfolio is up 15.8% while the Dow is up 18.7%, the Nasdaq is up 19.7%, the S&P 500 is up 18.6% and the Russell 2000 is up 23.3%.

    Breakdown
    The portfolio breakdown remained unchanged with roughly 69% of the portfolio in equities, 31% 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.

    Capella Education Company (Nasdaq: CPLA) - No Investment Interest

    Carlisle Companies Incorporated (NYSE: CSL) - No Investment Interest

    Celanese Corporation (NYSE: CE) - Loss of Investment Interest

    Celestica, Inc. (NYSE: CLS) - Initial Investment Interest

    Coach, Inc. (NYSE: COH) - Loss of Investment Interest

    Federal-Mogul Corporation (Nasdaq: FDML) - No Investment Interest

    Heidrick and Struggles International, Inc. (Nasdaq: HSII) - No Investment Interest

    Holdings
    This week's moving on up stocks were iron ore company Cliffs Natural Resources (NYSE: CLF), up 11%, oil refiner Holly Frontier Corporation (NYSE: HFC), up 5%, and technical services company SAIC, Inc. (NYSE: SAI), up 5%.

    This week's floaters in the bunch bowl stocks were specialty chemical maker W.R. Grace and Company, Inc. (NYSE: GRA), down 11%, heavy construction contractor Layne Christensen Company (Nasdaq: LAYN), down 6%, and building materials and telephone headset maker Griffon Corporation (NYSE: GFF), down 4%.

    Not Performing
    The top portfolio non-performers remain communications equipment company Tellabs, Inc., down 59% since being added to the portfolio, iron ore company Cliffs Natural Resources, Inc., down 41% since being added to the portfolio, and garage door/telephone headset maker Griffon Corporationdown 33% since being added to the portfolio.

    Wax Ink is a baseline equity research company not licensed or registered with any government agency.

    Disclosure: I am long CLF, HFC, SAI, GRA, LAYN, GFF.

    Themes: Investing Ideas Stocks: CPLA, CSL, CE, CLS, COH, FDML, HSII, CLF, HFC, LDOS, GRA, LAYN, GFF
Back To Scott Wachsler's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.