DESERT DIRT INDEX VALUES AS OF DECEMBER 31, 1997:
NOTE: None of the Desert Dirt/Clay/Sand companies has made any announcement since the last update on Dec 12. Quarterly and Yearly returns appear below.
I will begin another set of indices for 1998 based on the Dec 31, 1997 closing stock prices and using the latest numbers for shares outstanding for each of the 5 companies to distribute the initial investment on the basis of the Dec 31 Market Capitalizations.
None of the 5 stocks had a positive performance in the 4th Quarter: GPGI was -6%, NAXOF was -11%, CHIP was -40%, MXAM was -55%, and IPMCF was -78%.
For the year: MXAM was +134%, NAXOF was +79%, GPGI was +15%, CHIP was -61% and IPMCF was -71%.
Note, a basket of these five stocks purchased at their Dec 31, 1996 closing price, with an investment into each on the basis of their relative market capitalizations, would be up 9.5% for the year. Buying an equal number of shares in each of the 5 companies would have resulted in a loss of 6.8%, while investing an equal dollar amount into each of the 5 would have returned 19.3% for the year.
DATE__________"DDI-CAP"________"DDI-SHR"_________"DDI-DOL"
DEC 31___________1095_____________932________________1193
DEC 12___________1152_____________965________________1220
DEC 5____________1353____________1128________________1616
OCT 31___________1433____________1276________________1685
OCT 24___________1832____________1597________________2039
OCT 10___________1552____________1360________________1896
SEP 30___________1684_____________1501________________2096
SEP 19___________1696_____________1526________________1950
SEP 12___________1560_____________1414________________1829
SEP 5____________1581_____________1444________________2010
AUG 29__________1635_____________1501________________2070
AUG 22__________1383_____________1248________________1813
AUG 15__________1230_____________1110________________1835
AUG 8____________976______________905________________1595
AUG 1____________964______________884________________1637
JUL 25____________947______________866________________1863
JUL 18____________862______________839________________1521
JUL 11___________1041_____________1005________________1698
JUN 30___________1085_____________1026________________1854
JUN 13___________1112_____________1064________________1898
JUN 6____________1004______________963________________1697
MAY 30__________1128_____________1070________________1910
MAY 23__________1400_____________1338________________2288
MAY 16__________1472_____________1420________________2431
MAY 9___________1472_____________1425________________2225
MAY 2___________1451_____________1394________________2158
APR 25__________1604______________1566________________2191
APR 18___________1617______________1577_______________2366
APR 11__________1555______________1523________________2286
MAR 31__________1493______________1467________________2383
MAR 21__________1601______________1563________________2489
MAR 14__________1712______________1583________________3466
MAR 7___________1979______________1797________________4188
FEB 28___________1387______________1278________________2042
FEB 21___________1177______________1093________________1768
FEB 14___________1226______________1129________________1721
FEB 7___________1177_______________1118________________1419
JAN 31___________1087______________1053________________1411
JAN 24___________1003_______________988________________1266
JAN 17____________817_______________818________________1022
JAN 10____________954_______________940________________1001
JAN 3_____________982_______________980_________________920
DEC 31___________1000______________1000________________1000
BACKGROUND
Market Indices for the basket of 5 "Desert Dirts" have been calculated for three different investments.
(1) MARKET CAPITALIZATION (DDI-CAP) - Assumes $1000 invested equally in the 5 stocks on the basis of the market capitalization of the stocks as of 12/31/96.
(2) EQUAL SHARE AMOUNTS (DDI-SHR) - Asssumes $1000 invested by buying equal number of shares in the 5 stocks based on their 12/31/96 closing prices.
(3) EQUAL DOLLAR AMOUNTS (DDI-DOL) - Assumes $1000 invested by buying equal dollar amounts of the 5 stocks at their 12/31/96 closing prices.
Initial values for the three investments were calculated as follows, using estimated shares outstanding as of Dec 31, 1996:
STOCK__________CHIP______GPGI______IPMCF_____MXAM______NAXOF
MM SHARES ________8________20__________18_________45___________25
12/31 PRICE_______1.44_______1.63_________4.38_______0.16_________3.50
"CAP" SHARES___36.79______91.98________82.78______206.94_______114.97
"SHR" SHARES___90.11______90.11________90.11_______90.11________90.11
"DOL" SHARES__139.13_____123.08________45.71_____1250.00________57.14
With these share amounts, index values were calculated as above. |
