As stocks drop today, it looks like a day to be getting fills...or to be suckered into the rally's correction.
From 5/'09's AAII Journal of companies passing their (Ben)Graham Defensive Utility Screen, I've chosen two companies and added them to my other utility positions. From EGN, OKE, DTE, FE, AGL, D, OGE, UGI, AVA, and SRE in that screen, I bought first tranches in AVA and UGI.
finance.yahoo.com
Continuing to add to my commodity (agriculture) positions. A tad more DBA today, and a starting small exploratory amount in Jim Roger's RJA.
etfconnect.com
Insurance companies. Starting up a very few shares of ACE.
si.advfn.com^ACE
Stock sells at about stated bv ($43, although per SI, tangible is $32) Whereas 1x bv seemed to me about the bottom for most insurance before 6/'08, that seems to be now closer to the top where they sell. Otoh, a positive for ACE, they reported a good quarter,
finance.yahoo.com,
and next year's (12/'10) p/e projection from Yahoo is 5, which is low based on ACE's past ten year history (with one unprofitable year in past ten). Of course, giving much credence to earnings projections, especially for insurance companies, is very risky indeed. I like ACE for its size (15,000 employees) and geographical and product diversity. It 'should' be a survivor.
Reits: Added a little to my position in FPO. I like FPO for its location in Washington DC and environs. Not thrilled though that they recently cut the div from .34/q to .20/q. I presume that that's now accounted for by the stock price. |
