The Wax Ink Portfolio was down 1.1% for the week.
By comparison, the Dow was down 3.2%, the Nasdaq was down 3.0%, the S&P 500 was down 3.4, the Russell 2000 was down 2.3%, and the Volatility Index, commonly known as the VIX, was up 6.7%.
Year to date, the Wax Ink portfolio is down 6.2%, the Dow is down 9.7%, the Nasdaq is down 1.1%, the S&P 500 is down 6.7%, the Russell 2000 is down 5.7%, and the VIX is higher by 102.6%.
The portfolio breakdown is roughly 57% cash, 43% equities, and 0% bonds. The total number of shares held was unchanged.
This week's portfolio losers were maker of lots of stuff General Electric (NYSE: GE), down 5%, agricultural chemicals company Agrium, Inc. (NYSE: AGU), down 4%, and cigarette paper maker Schweitzer-Maudit International, Inc. (NYSE: SWM), down 3%.
The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 10% (down 2% for the week) since being added to the portfolio, municipal construction company Layne Christensen (NASDAQ: LAYN), down 53% (up 0.4% for the week) since being added to the portfolio, and offshore supply company Tidewater, Inc. (NYSE: TDW), down 9% (down 5% for the week) since being added to the portfolio.
My plan was to close my position in Darling Ingredients this week. That did not happen as my job got in the way. Needless to say, the stock is still on the for sale bubble.
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 EOG Resources at $89-$99, Occidental Petroleum at $94-$104, Pitney Bowes at $21-$24, AGCO Corporation at $56-$65, and Honeywell at $57-$59.
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 MDR,GE,AGU,SWM,GFF,LAYN,TDW.