Happy New Year and best wishes, everybody!
I am pondering still how to align my portfolios for '07. Envisioning a scary year in the USA markets, I hope it won't be too tumultuous.
I keep adding to dividend/distribution paying oil/gas, real estate stocks. I have much more of a focus and emphasis now on companies (including trusts) that pay a good or rising dividend (or distribution). This could be a result of my concerns about the market, my age (old), my portfolio, and/or my fears of permanent capital impairment.
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I'm not sure where we are in the business cycle, and not only am I still holding all my bank/finance stocks, I'm adding a little more. I like the ethnic banks, and on Fri. I initiated small buys of CATY (Chinese American) and HAFC (Korean American). I am still trying to define my metric for buying banks. It looks to me, that roughly the p/bk and roa ratio for these two is what I'm am looking for, for a buy point. Additionally, I suspect these banks will continue to do good business in their operating environment even should the USA general economy lose strength.
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In spite of my concern today that there will be a decent size correction in the market (USA) in '07, with a consequent drop in stock speculation, I have made (Fri.) a very small exploratory buy of brokers TRAD and OXPS. These two fit my criteria for a buy. However, that's because business is good for them now. They are risky: I suspect if the market drops, these two will be at least cut in half.
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