The Wax Ink Portfolio was up 4.9% for the week.
By comparison, the Dow was down 1.2%, the Nasdaq was down 1.4%, the S&P 500 was down 1.2%, the Russell 2000 was down 2.5%, and the Volatility Index, commonly known as the VIX, was up 19.8%.
Year to date, the Wax Ink portfolio is up 4.5%, the Dow is down 0.5%, the Nasdaq is up 5.8%, the S&P 500 is up 0.9%, the Russell 2000 is up 3.6%, and the VIX is higher by 22.4%.
The portfolio breakdown is roughly 55% cash, 45% equities, and 0% bonds. The total number of shares held decreased by 2000 this week with the sale of ArcBest Corporation.
This week's portfolio losers were offshore engineering and construction company McDermott International (NYSE: MCD), down 5%, tire and rubber king The Goodyear Tire and Rubber Company (NYSE: GT), down 4%, and infrastructure supplier LB Foster Company, (NASDAQ: FSTR), down 4%.
The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 10% (down 1% for the week) since being added to the portfolio, and municipal construction company Layne Christensen (NASDAQ: LAYN), down 46% (down 1%for the week) since being added to the portfolio.
I am currently considering closing my position in infrastructure company The LB Foster Company.
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.
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 in accordance with their individual risk tolerance and investing philosophy.
Reasonable value estimates were established or revised this week for Lawson Products at $12-$16, Forward Air Corporation at $46-$52, Matson at $32-$39, Kansas City Southern at $56-$61, and NCR Corporation at $20-$26.
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: I am/we are long HFC,AGU,MCD,GT,FSTR,GFF,LAYN.