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First Ever Portfolio Update

As promised in the 2 year review, here comes the first ever portfolio update.


As a self pat on the back, I have beaten the 2 year fixed GIC, however I would've been much better off buying either the NASDAQ 100 or the S&P 500 index. However, if all the commission I paid over the years were added back, I would be in the same ball park as the 2 indices.

Portfolio Break Down

My 2 cents:

AGNC: mREIT's have been hit hard due to the recent self off in agency MBS. It maybe a bargain right now, however the worst might still to come.

ARNA: My portfolio saver, also waiting on 12 weeks of script data to see if the weight loss pill is truly "block buster" as many claims.

BBRY: My heart breaker. Bought into the Blackberry Z10 & Q10 story, what a mistake that was. However currently very depressed valuation compared to book value justifies a small position.

EFC: Hit hard like other agency mREIT's. However EFC buys mostly non-agency subprime mortgages, where credit / prepayment risk plays a much larger role than interest / basis risk. With the economy supposedly in good shape, this should benefit EFC. EFC's book value decreased slightly (last reported July 8th) even though treasuries and agency MBS sold off.

GTAT: Pure speculation play that Apple will use sapphire as the new iPhone cover, which according to managment "will consume all of GTAT's production capabilities".

LINE: Recent sell off due to SEC inquiry relating to its accounting of derivatives related gains. However, there's many good analysis on LINE on Seeking Alpha, from which I concluded that LINE is not a ponzi-like scheme and can sustain its current distributions.

SZYM: Pure speculation play on bio oil. With large potential markets to tap into, and many interested partners, it seems SZYM is on the right track to profitability.

VRNG: I don't know why I still have it in my portfolio, probably because I am waiting for a pop to get rid of it because I want to save on commission. Price not likely to move in the near term unless something dramatic happens.