Performance - Week Ending 08/07/2015
The Wax Ink Portfolio was down 0.3% for the week.
By comparison, the Dow was down 1.8%, the Nasdaq was down 1.7%, the S&P 500 was down 1.2, the Russell 2000 was down 2.6%, and the Volatility Index, commonly known as the VIX, was up 10.5%.
Year to date, the Wax Ink portfolio is up 8.6%, the Dow is down 2.5%, the Nasdaq is up 6.5%, the S&P 500 is up 0.9%, the Russell 2000 is up 0.2%, and the VIX is lower by 2.4%.
The portfolio breakdown is roughly 57% cash, 43% equities, and 0% bonds. The total number of shares held remains the same.
This week's portfolio winners were refiner HollyFrontier Corporation (NYSE: HFC), up 4.0%, rubber and tire king Goodyear Tire and Rubber Company (NYSE: GT), up 3.0%, and offshore oilfield contractor McDermott International, Inc. (NYSE: MDR), up 2.0%.
This week's portfolio losers were cigarette paper maker Schweitez-Maudit International, Inc. (NYSE: SWM), down 7%, chicken grease processor Darling Ingredients (NYSE: DAR), down 4%, and maker of damn near everything General Electric, down 1%.
The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 4% (unchanged for the week) since being added to the portfolio, and municipal construction company Layne Christensen (NASDAQ: LAYN), down 50% (down 4% for the week) since being added to the portfolio.
I had intend to close my position in Kaman Corporation this week, but I was simply too busy at work to worry about it. Regardless, it is still on the chopping block.
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.
Airgas, Inc. (NYSE: ARG) - FYE 03/2015
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 WESCO International at $57-$60, Xerox Corporation at $21-$27, BestBuy at $50-$56, Airgas at $68-$70, and Anixter International at $67-$75.
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,GT,MDR,SWM,DAR,GE,GFF,LAYN.