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Performance - Week Ending 12/04/2015

|Includes: ASH, ATW, CBT, The Greenbrier Companies, Inc. (GBX), GFF, GT, KMG, MDR, MRO, NTR, TDW

The Wax Ink Portfolio was down 10.8%for the week.

By comparison, the Dow was up 0.3%, the Nasdaq was up 0.3%, the S&P 500 was up 0.1%, the Russell 2000 was down 1.6%, and the Volatility Index, commonly known as the VIX, was down 4.3%.

Year to date, the Wax Ink portfolio is down 16.3%, the Dow is up 0.1%, the Nasdaq is up 8.6%, the S&P 500 is up 1.6%, the Russell 2000 is down 1.8%, and the VIX is higher by 7.9%.

The portfolio breakdown remains 55% cash, 45% equities, and 0% bonds. The total number of shares was increased this week as I added 5000 shares of Tidewater to the portfolio.

Weekly Winners
This week's portfolio winners were building materials company Griffon Corporation (NYSE: GFF), up 4%, agricultural chemicals company Agrium, Inc. (NYSE: AGU), up 2%, and rubber and tire king Goodyear Tire (NYSE: GT), up 0.2%.

Weekly Losers
This week's portfolio losers were refiner Marathon Oil Corporation (NYSE: MRO), down 8%, offshore supply boat company Tidewater, Inc. (NYSE: TDW), down 8%, and offshore rig contractor McDermott International, Inc. (NYSE: MDR), down 7%.

Portfolio Duds
The portfolio's worst performing stocks remain municipal construction company Layne Christensen down 63% since being added to the portfolio, and offshore supply boat company Tidewater, down 33% since being added to the portfolio.

Fair Warning
I have added my Baseline Valuation Estimates for each stock in the portfolio. Remember that baseline valuations are just that, estimates of the intrinsic value of a stock, and as such they will change. I update mine on an annual basis in accordance with the financial data filed with the U.S. Securities and Exchange Commission.

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.

The Greenbriar Companies, Inc. (NYSE: GBX) - FYE 08/2015

Ashland, Inc. (New) (NYSE: ASH) - FYE 09/2015

KMG Chemicals, Inc. (NYSE: KMG) - FYE 07/2015

Cabot Corporation (NYSE: CBT) - FYE 09/2015

Atwood Oceanics, Inc. (NYSE: ATW) - FYE 09/2015

Please note that worksheets are updated basis the most current SEC 10-K ANNUAL filing.

Baseline Valuation Estimates
Baseline Valuation 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 or investing philosophy.

Reasonable value estimates were established or revised this week for Greenbriar Companies at $77-$79, Ashland at $36-$38, KMG Chemcials at $27-$34, Cabot Corporationat $46-$52, and Atwood Oceanics at $84-$89.

Have a great week.


Wax Ink is a baseline equity research company not licensed or registered with any government agency
Copyright © 2015 Wax Ink

Supporting Documents

  1. Wax_Ink_Portfolio_-_120415.pdf

Disclosure: I am/we are long GFF,AGU,GT,MRO,MDR,TDW.