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February, 2018: 4 24
Disclaimer - IMPORTANT - Read this first!
Investor's Journal is a diary focused strictly on investments and personal finance issues, primarily from a contrarian and retiree point of view. Follow along with an average guy's failures and successes as he learns, by trial and error, the fine art of value investing.


2/4/18-Since the prior entry (1/16/18), GLAD and MD have been sold and replaced by NLY and WBA. Our basic 15 holdings thus include: AEG; AMGN; ANAT; BRK/B; CVS; EXPD; FL; IPG; MCK; NLY; SLB; T; WBA; WPP; and VZ.

Also since 1/16, liquid assets have increased $8622, or 0.61%, to $1,432,142. Our total equities' yield continues to be at least 2.0% of the equity portfolio market value and is on target to achieve the 12/31/18 goal of $33,350.

Since 12/31/17, net total assets have increased $52,338, or 3.11%, to $1,737,542.

Despite a modest drop recently in major market averages, stocks are overvalued. Thus, as our equity portfolio increases $10,000 or more above the current day's target, as has occurred five times this year, I sell shares in the holding with apparently worst risk-adjusted prospects. Reserves are thus rising as a percentage of liquid assets, even as our total net worth has so far been going up a bit as well.


2/24/18-Since the prior entry (2/4/18), there have been no changes to our basic 15 holdings. They therefore remain: AEG; AMGN; ANAT; BRK/B; CVS; EXPD; FL; IPG; MCK; NLY; SLB; T; WBA; WPP; and VZ.

Our liquid assets have gone down 1.42% or $20,270, to $1,411,872 since that last entry. The total equity portion's yield continues to be at least 2.0% of the stock portfolio market value and on target to achieve a 12/31/18 goal of $33,350.

Since 12/31/17, net total assets have increased 1.92% or $32,278, to $1,717,482.

The market has rallied fairly well after an earlier correction and so, in my opinion, remains at risk due to substantial overvaluation. We are, accordingly, keeping the cash reserves allocation of liquid assets high, and I plan to invest only very gradually in carefully selected stocks until the Wilshire 5000 total market value to Gross Domestic Product (GDP) ratio is more favorable.

I expect to be on vacation most of next month, so this will be my last entry till probably late March.


Disclaimer and Disclosure Statement
Much as I'd love it to be otherwise, I receive no payment of any kind for disseminating investment information unless, by some fluke, millions of folks, on the strength of these entries, start buying shares of stock I own, a possibility only slightly less likely than our being destroyed by a large meteorite. Do not follow any suggestions made in Investor's Journal as if I were a professional.

Neither I nor Investor's Journal will be responsible for losses by anyone who obtained ideas from this site.

This diary is intended for personal interest and general information only. You are advised to do your own research (as well as to consult highly compensated professionals) before spending money on anything.

I know of no reason anyone should take my financial musings seriously. At best I am a dedicated amateur providing a bit of investment-related insight and entertainment, at worst an amusing diversion.

My wife, Fran, and I may at times own shares of some of the assets mentioned here. But neither of us receive any benefit from reference to them, unless you count the mutual misery when we get it wrong, or the opportunity to gloat when we get it right.

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