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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 11/08/2013 0 comments
    Nov 10, 2013 9:31 AM | about stocks: CLUB, ULTI, UIS, QEP, VOCS, KEG, MYE, AGU, AIR, LAYN, SWM, FURSF

    It is truly amazing to me what passes for investing reality these days. For example, I saw an article titled The Three Worst Stocks You Could Own Last Week. I mean really? Last week? No wonder people loose money in the stock market, they pay attention to dribble like this.

    What really made my head spin though was on the same site as the previous mentioned article was an article titled The Only Dow Jones Stocks That Growth Investors Need and in the article were some of the stocks the previous article said were a piece.

    Must be a Republican website.

    The simple fact is, none of what is in those articles matters. To be honest, what you are reading here doesn't matter. What does matter is that you as an individual investor are comfortable with what you own and what you paid to own it.

    There is no magic formula for success. There are several components that will improve the probabilities for success such as research and patience, but they are no guarantees. What works for the masses on Monday may not work for the same masses on Tuesday. The vigorish of the markets is never in the investors' favor.

    But if you are willing to take the time to develop a discipline that works for you, one that you are intimately comfortable with, and one that you will not deviate from, then over the course of a lifetime of investing you should never have the desire to become a lying piece of crap called a politician.

    Hi. My name is Wax, and I am an individual, 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 Value 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 working class investors avoid the investing pitfalls that seem to find me.

    Enjoy your weekend

    Wax

    Markets
    The Wax Ink Portfolio was down 1.2% for the week. By comparison, the Dow was up 0.9%, the Nasdaq was down 0.1%, the S&P 500 was up 0.5%, the Russell 2000 was up 0.4%, and the Volatility Index, commonly known as the VIX, was down 2.9%.

    Year to date, the Wax Ink portfolio is up 28.8%, the Dow is up 20.3%, the Nasdaq is up 29.8%, the S&P 500 is up 24.1%, the Russell 2000 is up 29.5%, and the VIX is down 15.4%.

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

    Research
    Town Sports International Holdings (Nasdaq: CLUB) - No Investment Interest based on a recent price of $12.92 and a fair value estimate of $15-$20.

    The Ultimate Software Group (Nasdaq: ULTI) - Negative Investment Interest based on a recent price of $152.04 and fair value estimate of $26-$38.

    Unisys Corporation (NYSE: UIS) - No Investment Interest based on a recent price of $25.86.XX and fair value estimate of $24-$30.

    USANA Health Sciences (Nasdaq: UNSA) - Negative Investment Interest based on a recent price of $71.16 and fair value estimate of $56-$65.

    Vascular Solutions (NYSE: QEP) - No Investment Interest based on a recent price of $19.41 and fair value estimate of $23-$27.

    Vocus, Inc. (Nasdaq: VOCS) - Negative Investment Interest based on a recent price of $8.28 and fair value estimate of less than $1.

    Key Energy Services (NYSE: KEG) - Positive Investment Interest based on a recent price of $7.70 and fair value estimate of less than $24-$27.

    Holdings
    This week's moving on up stocks were container maker Myers Industries (NYSE: MYE), up 5%, agricultural chemical company Agrium (NYSE: AGU), up 5%, and airplane repair company AAR Corporation (NYSE: AIR) was up 4%.

    This week's floaters in the bunch bowl were industrial construction company Layn Christensen (Nasdaq: LAYN), down 18%, cigarette paper maker Schweiter-Maudit International (NYSE: SWM), down 15%, and technical services contractor URS Corporation (NYSE: URS), down 5%.

    Not Performing
    The top portfolio choke and puke stocks are, soon to be taken private communications equipment company Tellabs, down 55% since being added to the portfolio, industrial construction company Layne Christensen, down 38% since being added to the portfolio, and garage door and telephone headset maker Griffon Corporation, down 29% since being added to the portfolio.

    Copyright © 2013 Wax Ink

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

    Disclosure: I am long MYE, AGU, AIR, LAYN, SWM, URS.

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