Baseline equity research, all cap value, Long Only, Value
Contributor Since 2007
I manage Wax Ink, an equity research firm comprised of individual investors not licensed or registered with any government agency. I have been an all cap value investor and independent equity researcher for the past 30 years.
The Wax Ink Portfolio was down 1.7% for the week.
By comparison, the Dow was down 1.5%, the Nasdaq was down 0.7%, the S&P 500 was down 1.6%, the Russell 2000 was down 1.3%, and the Volatility Index, commonly known as the VIX, was up 13.9%.
Year to date, the Wax Ink portfolio is down 3.8%, the Dow is up 0.2%, the Nasdaq is up 4.0%, the S&P 500 is up 0.6%, the Russell 2000 is up 1.1%, and the VIX is higher by 10.8%.
The portfolio breakdown remains roughly 55% cash, 45% equities, and 0% bonds. There was no change to the total number of shares held.
This week's portfolio losers were infrastructure supplier LB Foster (Nasdaq: FSTR), down 24%, chicken grease king Darling Ingredients (NYSE: DAR), down 15%, and refiner HollyFrontier (NYSE: HFC), down 10%.
The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 10% since being added to the portfolio, and municipal/industrial construction company Layne Christensen (Nasdaq: LAYN), down 60% since being added to the portfolio.
Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.
Worksheets updated last week may be downloaded by clicking on the links (company name) below.
Amphenol Corporation. (NYSE: APH) - FYE 12/2014
Bemis Company (NYSE: BMS) - FYE 12/2014
McDermott International (NYSE: MDR) - FYE 12/2014
Kaman Corporation (Nasdaq: KAMN) - FYE 12/2014
HollyFrontier Corporation (NYSE: HFC) - FYE 12/2014
Please note that worksheets are updated basis the most current SEC 10-K ANNUAL filing.
Reasonable Value Estimates
Reasonable value estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease based on their individual risk tolerance.
Reasonable value estimates were established this week for Amphenol Corporation at $33, Bemis Company at $35, McDermott International at $5, Kaman Corporation at $41, and HollyFrontier Corporation at $49.
Have a great week.
Wax Ink is a baseline equity research company not licensed or registered with any government agency
Copyright © 2015 Wax Ink
Disclosure: The author is long MDR,KAMN,HFC,SWM,FSTR,DAR,GFF,LAYN.