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Strategies & Market Trends : Value Investing
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From: Paul Senior3/1/2017 5:15:27 PM
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I am still heavily cash-weighted although I would like to be less so. Very difficult now for me to commit money to stocks with the market up to new highs, +303 in the Dow to 21,115 today.

Seems to me it's obviously safer to hold back and wait for a correction and better opportunities. Maybe more profitable too, to wait for the good pitch or pitches. I have no real need to press for obtaining more gains (more money) through more dividends or capital gains increases - it's just that I don't like feeling left behind with so much cash when the market is in full bull mode.

So I risk losing my hand or arm, and I reach out for more stocks.

I punch up my few shares of reit WPC to a full position (WPC a 6% yielder and dividend increaser)

On the presumption that banks and other financials will do better with slightly higher interest rates (or so say the pundits) and such stocks might continue to advance, I add just a little to my positions in ALLY, FII, and DFS.

I add a bit to AGN. Not any competition for Botox that I see, and it's a cosmetic (in my view), so it's not likely to face government scutiny regarding prices. Maybe Botox is part of what represents a margin-of-safety for investors. (Seth Klarman added to his position 4q '16.) Company says it has several potential $billion drugs in phase 3, so the pipeline is maybe ok.
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