That Barrack Obama is President of the United States of America is a tragedy. That Barrack Obama is an outright liar means he is a politician. That the majority of the American electorate voted for Mr. Obama speaks volumes about the gullibility of Americans generally.
Ted Cruz lost his political rear-end during the budget show down. Yet because he is equally as profane as Mr. Obama, playing on the gullibility of the beyond ignorant American voter, a recent poll of the GOP electorate revealed that Republicans think is the leader of the GOP.
Incredible. No wonder Harry Reid believes Americans want to pay more taxes.
Believe it or not the point here is not political, it is intellectual. Americans simply refuse to think for themselves. They are eager to believe anything they read on the internet, never considering for one minute that what they are reading is a fabrication of the truth, simply intended to separate them from their vote.
For some reason, Americans refuse to believe that our elected officials would actually tell a lie. Not once do we as a society ever stop to consider that if politicians don't lie to the voters, how do they ever get elected in the first place?
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
The Wax Ink Portfolio was down 0.7% for the week. By comparison, the Dow was up 0.3%, the Nasdaq was down 0.5%, the S&P 500 was up 0.1%, the Russell 2000 was down 2.0%, and the Volatility Index, commonly known as the VIX, was up 1.5%.
Year to date, the Wax Ink portfolio is up 30.4%, the Dow is up 19.2%, the Nasdaq is up 29.9%, the S&P 500 is up 23.5%, the Russell 2000 is up 29.0%, and the VIX is down 12.9%.
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.
I was in NYC the entire week so there was no research completed.
This week's moving on up stocks were iron ore company Cliffs Natural Resources (NYSE: CLF), up 9%, semiconductor maker International Rectifier (NYSE: IRF), up 8%, and oil refiner HollyFrontier Corporation (NYSE: HFC) was up 6%.
This week's floaters in the bunch bowl were ultra-capacitor king Maxwell Technologies (Nasdaq: MXWL), down 6%, tire tycoon Goodyear Tire and Rubber (NYSE: GT), down 6%, and container maker Meyers Industries (NYSE: MYE), down 5%.
The top portfolio choke and puke stocks remain soon to be taken private communications equipment company Tellabs, down 55% since being added to the portfolio, iron ore company Cliffs Natural Resources, down 19% since being added to the portfolio, and garage door and telephone headset maker Griffon Corporation, down 31% since being added to the portfolio.
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