PORTFOLIO UPDATE DECEMBER 31:
For new lurkers, I update my portfolio from time to time so you can see how I have distributed my holdings among sectors, and track the winners and losers. This is a real portfolio – no smoke, mirrors, newsletters or other hype jobs. All of my position trades are recorded for the thread (daytrading is not included – follow the thread for those).
This is a diversified, medium risk portfolio aimed at aggressive growth without undue risk to the original capital. The largest single position is less than 15% of the total portfolio. Position plays are augmented by regular intraday and overnight trades.
In dollar terms, the portfolio closed at an all-time high for 1999.
New additions (since 12/24): Long – CONV, IDC, BWEB, IARC, SPLI. Short – RHAT, JWEB.
Out (since 12/24): Long – CNC calls, HEAR, INPH. Took profits in half-positions in BTGC calls.
Now holding 81% techs and 23% non-tech stocks (with 4% cash margin). Plan to sell BWEB, CONV and LINK on January 3.
Portfolio finished +150% YTD, up from +131% on December 24. Dow is up 25% (up from 24%), NASDAQ 85% (up from 79%) and S&P about 20 (up from 19%). The Internet Index finished up 188% YTD.
According to the Bloomberg Mutual Fund Center, the 50% Gains portfolio ranked 19th in the top 25 US Technology mutual funds for YTD performance. It took +137% YTD to make the cut. bloomberg.com (select Technology Funds)
Core holdings: AREM, AOL, ASDS, CMGI, COMS, DCLK, FFTI, IMCL, ISWCX, LPAC, MGIC, MSFT, MSGI, NSATF, RNWK, VRIO, WPNE: 60%.
50% Gains Candidates: BINC, BOSC, BWEB, CONV, CYPLF, ESHR, FORTY, GENE, HUMC, IARC, IDC, LDP, LINK, OPAY, PFSW, SFP, SGNT, SPLI, WORK, WAXS: 36%.
Tradin' Trash: None
Options: ZIXI Jan 35 puts, BTGC April 10 calls, SRCM April 7.5 puts, PETM May 5 calls, THQI June 30 calls, T January 2001 56.6 LEAP calls, WM Jan 2002 25 calls: 8%.
Cash: -4%.
Current shorts: ZIXI, RHAT, JWEB. Equals 9% of portfolio value long, up from 2.6% on December 24.
SECTORS: The portfolio is now overweighted with tech stocks and Internet stocks for the year-end rally. Options holdings are included. After January 1, I plan to return to a better tech/non-tech balance and hedge the portfolio with some index puts.
Internet Services: AOL, CMGI, RNWK, VRIO, DCLK, BOSC, MSGI, WPNE, ASDS, ESHR, CONV, BWEB, PFSW (35.6%)
Broadcasting/Communications: ISWCX, LPAC, T LEAP calls, NSATF, IDC, WAXS (21.5%)
Software: HUMC, THQI calls, MGIC, MSFT, AREM, SGNT, IARC, FORTY (15.3%)
Biotech: BINC, IMCL, BTGC calls, GENE (8.1%)
Business Services: FFTI, OPAY, WORK (7.2%)
Hardware: COMS, SPLI, LINK (5%)
Gaming: CYPLF/CRY.TO (4.3%)
Financial: LDP, WM calls (3.5%)
Retailers: PETM calls, SFP (2.3%)
Currently 27 winners and 10 losers, or 30 and 10 if you count shorts (options are too volatile to include week to week).
Comments, questions and suggestions more than welcome as always.
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