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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Dan Meleney who wrote (38053)	5/26/2010 9:54:04 PM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 78717

To be honest, if someone says "I have 50% concentrated portfolio in 10 names and the rest diversified", I would not call this a real concentrated portfolio. :) This just means that you would have 10 5% positions and a bunch of smaller ones. Heck, then MY portfolio is also concentrated. ;) Yeah, it is. :) No. In my definition, concentrated portfolio is when at least 50% of portfolio is in positions exceeding 10% of total investment portfolio. This means 5 10% positions or 2 25% positions or some other variant. Preferably the remaining 50% is not spread out over 100 positions either. Yeah, I just made up this definition, so sue me. :)

To: Dan Meleney who wrote (38053)	5/26/2010 9:57:51 PM
From: Dan Meleney	Read Replies (1) \| Respond to of 78717

Excluding illiquid positions that I'm trying to grow/shrink, here are my largest holdings: Value plays (lots of cash ready to invest here when better opportunities show up): AMPH EDAC FVE GLUX LTB&H (I'd like to get this list down to 10-12 companies): AAPL BRKB DD FDX GE HD JNJ KO MMM MSFT ORCL PG TJX UPS UTX XOM Small positions, from old LTB&H portfolio, to be sold when hedge funds start shrinking their positions in them: AMGN AXP BAC DELL HOG LIZ PFE Growth plays (small allocation into what may become a huge gorilla): AMZN Recently closed positions, primarily to concentrate LTB&H portfolio: CSCO EBAY IBM LUV WFMI (I'd have kept WFMI if the valuation hadn't gone through the roof)