PORTFOLIO UPDATE MAY 23:
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 trades are recorded for the thread.
The market continues to drift, and the 50% portfolio is following. As Warren Buffett described his trading efforts in 1998, we would all be better off sometimes if we just went to the movies instead of following the ticker.
New additions: SBTV, MSFT, RIG, IFSX, TGLO, more LWIN, more CYPLF/CRY.TO.
Out: NVLS, CBUK, IACO, DIAL, half my URBN and half my SILK, all May options.
Cool move of the week: None.
Exited KEA and CBUK too soon. Once again, nothing truly stupid last week. That's five weeks in a row!
Now holding 55% non-techs and 45% tech stocks. Time to look on the tech side if I add anything.
Portfolio currently ahead 60% YTD, down from +63% last week. Dow is up 18%, NASDAQ 14% and S&P about 8% (the averages didn't move much at all).
According to the Bloomberg Mutual Fund Center, the 50% Gains portfolio would rank 6th among all US mutual funds for YTD performance. The one-year performance (92%) ranks 14th. bloomberg.com
Core holdings: AOL, BRKB, CMGI, EGRP, FNDTF, MFNX, MSFT, MSGI, RNWK, SILK, VRIO, WCOM: 48%.
50% Gains Candidates: AMG, BINC, BNGO, BTGC, CYPLF, DIAL, FRNT, IACO, IATV, IFSX, IMCL, LWIN, LPAC, LPGL, MMPT, RIG, SBTV, SCOT, TGLO, TVGIA, URBN, VUSA: 41%.
Sector Funds: TTF, JOF: 4.6%.
Tradin' Trash: NRAG: .4%.
Options: T January 2001 56.6 LEAP calls, PIXR July 50 calls, PAIR July 15 calls, HMK Sept 16.6 calls, BTIM September 12.5 puts, WMB January 2001 40 LEAP calls: 6%.
Cash: 0%.
Current shorts: DIA, ENMD, VLNC, RACE and ICCSA. Equals 20% of portfolio value long, up from 18.5% last week. The short portfolio is underwater to the tune of 2.5% of the total portfolio right now. ICCSA will collapse when the discount convertible holders start to dump their shares. ENMD offsets my IMCL long position.
SECTORS: Communications taking a clear lead as the Internuts take a break, along with Financials. Energy moves up a bit with the addition of RIG. Options holdings are included.
Broadcasting/Communications: WCOM, IATV, MFNX, TVGIA, LWIN, PIXR calls, LPAC, T calls, SBTV (24.5%)
Financial/Insurance: AMG, BRKB, EGRP, LPGL, SCOT, IFSX (21.2%)
Internet Services: CMGI, RNWK, VRIO, MMPT, MSGI, VUSA, TGLO (20%)
Biotech: BINC, IMCL, BTIM puts, BTGC (7.4%)
Software: FNDTF, SILK, MSFT (7.1%)
International: TTF (Thailand), JOF (Japan) (4.65%)
Energy: WMB calls, RIG (4.4%)
Gaming: NRAG, CYPLF, BNGO (3.5%)
Travel: FRNT (2.3%)
Retailers: URBN (1.86%)
Hardware: PAIR calls (.75%)
Comments, questions and suggestions more than welcome as always. |
