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Performance - Week Ending 05/17/2013

|Includes: GFF, Goodyear Tire & Rubber Co. (GT), 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.

Markets
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%.

Breakdown
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.

Research
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.

Holdings
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

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.