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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (51175)	3/27/2013 12:03:14 AM
From: E_K_S	3 Recommendations of 78870

My mistake it's a .7% position. I probably will sell the rest as I agree w/ you that maybe a fewer larger positions (ie 3% portfolio bets) may move the needle a bit more as long as I can find the values. My past success was/is to plant seeds that are 1%-2% portfolio positions and let them grow to 5% positions before I start to sell. I typically can get to that size w/ about three separate buys. With the market near a top and values hard to find, for now I am more apt to sell my marginal gainers and hold the cash. I still keep the majority of my long term capital gains in the portfolio as core positions. 25% of the portfolio are long term "unrealized" capital gains that I peel off from time to time to off set losses and/or use for income. As long as the stocks generate income and continue to perform, there is no need to generate a tax event. For example, COP is my No. 3 holding w/ a cost basis around $30.00/share. I continue to hold and plan on adding more shares below $50.00/share. COP just closed above $60.00/share. Therefore, my strategy is to sell off my marginal gainers as the market makes new highs. These are typically my last buys or recent additions to my core positions. Unless there is a significant misstep by management (like MHR perhaps), will I work on closing the entire position. FWIW, I am still finding my average holding period 36 months or more especially w/ my large core holdings. I consider myself an investor in stocks not a "renter" of stocks. 80% of my gains are long term capital gains held one year or more. This past strategy may change especially in a significant correction. News buys may turn out to be quick sell candidates if things sour. EKS

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