Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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From: KyrosL	7/15/2008 12:47:20 PM
	Read Replies (3) of 74559

Today I reduced my cash position from around 60% to around 40%. I was waiting for VIX to go above 30 before reengaging in equities. I bought: VLO -- the premier NA refiner is now selling below book. MCGC -- a business development company with stakes in a bunch of small and medium US firms. Substantial junk bond component. Added substantially to existing small position. NCC/PA -- junior bond of a Midwest bank. TWX -- Time Warner, TV, movies, entertainment HD -- Home Depot ALD -- another business development company investing in USA firms. AFC -- the bonds of ALD TICC -- yet another BDC. Substantial junk bonds like MCGC. CMO -- a mortgage REIT. Agency mortgages leveraged about 8:1. Added substantially to existing small position. GLO -- a global equity (emphasis on US) CEF. ASI -- a small insurance firm. FAX -- Aussie/Asian bond fund added to existing position. AIB -- Irish bank NBG -- Greek bank PS. Almost all of these sell at or below book value, some substantially so, and have hefty dividends.

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