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March, 2014: 8 16 23 29
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. |
3/8/14-The following are a few stocks sold since the last entry:
1. Our Low Price to Book Value portfolio stock, NBR, bought on 10/29/13 for the Low Book Dividend Plus portfolio, lately incorporated into Low Price to Book Value, was sold on 2/28/14 for a net gain (after commissions but not counting any dividends) of 31.53%. NBR has been deleted from our open positions record for Low P/Bk assets, and its closed position info for 10/29/13 through 2/28/14 has been added to our portfolio spreadsheet for low price to book value redemptions and mergers. NBR had a nice short-term profit and no longer met the buy criteria. (See the buy/sell guidelines for Low Book Dividend Plus in the 11/5/13 entry.)
2. Our Low Price to Book Value portfolio stock, DIT, bought on 11/4/12, was sold on 2/28/14 for a net gain (after commissions but not counting any dividends) of 50.20%. DIT has been deleted from our open positions record for Low P/Bk assets, and its closed position info for 11/4/12 through 2/28/14 has been added to our portfolio spreadsheet for low price to book value redemptions and mergers. DIT was sold since it was profitable and its price to book value was now above 1.0.
3. Our Low Price to Book Value portfolio stock, CRV, bought on 11/3/11, was sold on 2/28/14 for a net gain (after commissions but not counting any dividends) of 24.49%. CRV has been deleted from our open positions record for Low P/Bk assets, and its closed position info for 11/3/11 through 2/28/14 has been added to our portfolio spreadsheet for low price to book value redemptions and mergers. CRV was sold since profitable and held longer than two years.
4. Our Low Price to Book Value portfolio stock, SSRI, bought on 6/16/13, was sold on 3/5/14 for a net gain (after commissions but not counting any dividends) of 89.87%. SSRI has been deleted from our open positions record for Low P/Bk assets, and its closed position info for 6/16/13 through 3/5/14 has been added to our portfolio spreadsheet for low price to book value redemptions and mergers. SSRI was sold since it was profitable and its price to book value was now above 1.0.
On 3/4/14, I bought a new Low Price to Book Value stock based on the Low Book Dividend Plus criteria, Cliffs Natural Resources, Inc. (CLF) (recent price $18.65). CLF meets Benjamin Graham's bargain stock value and safety criteria.
Alphabetically, my current top-five low price to book value equities are: AGII; AHL; ANAT; NWLI; and PRE.
My new featured Low Price to Book Value security is PartnerRe, Ltd. (PRE) (recent price $100.42). PRE meets Benjamin Graham's bargain stock value and safety criteria.
PartnerRe, Ltd. will be added to our nest egg at its market price in early morning trading on Monday, 3/10/14.
I presently find the following assets attractive as Dividend Value stocks: AP; CODI; ITRN; SSL; and UVV.
From among them I are choosing Ampco-Pittsburgh Corp. (AP) (recent price $20.08) as our current dividend value equity to feature. It meets Ben Graham bargain stock criteria and will be added as well to our nest egg at its market price in early trading Monday morning, 3/10/14.
Although I consider it too risky for our low price to book value portfolios followed here, I find EGLE (recent price $5.05) an interesting special situation that was suggested by a value investor friend of mine. Despite its heavy debt, he believes it has good potential as a turnaround company. The Price to book value is very low, at 0.15.
Our Dividend Value asset, CSPI, purchased on 9/12/13, is up over 18% (net of commissions but not counting its generous dividend). However, it's been noted its dividend payout ratio has risen to well above 1.0 (whereas our preferred payout ratio is 0.5 or below). Accordingly, I plan to sell our shares of this stock at its price in early trading on Monday, 3/10/14.
Our Perennial/Global Portfolio (not one of the portfolios I follow in this journal) stock, GSS, purchased (and mentioned here) on 1/23/14, is up over 14% as of the close of trading on 3/7/14. However, its price to book value now exceeds 3.0. Accordingly, it will be sold at its market price in early trading on 3/10/14 as well.
3/16/14-In the last entry, I said I intended to sell CSPI and GSS. The latter security was redeemed for a nice short-term profit. As luck would have it, though, the CSPI price promptly declined significantly before I could unload the shares. I am therefore continuing to hold them.
Since that entry, our Low Price to Book Value portfolio stock, VLCCF, bought on 4/14/13, was sold on 3/14/14 for a net gain (after commissions but not counting any dividends) of 80.93%. VLCCF has been deleted from our open positions record for Low P/Bk assets, and its closed position info for 4/14/13 through 3/14/14 has been added to our portfolio spreadsheet for low price to book value redemptions and mergers. The stock met sell criteria in that it was up at least 50% and its price to book value ratio was now higher than 1.
On 3/12/14, I bought a new Low Price to Book Value stock based on the Low Book Dividend Plus guidelines, Arcelor Mittal (MT) (recent price $14.87). MT meets Benjamin Graham's bargain stock value and safety criteria. MT has previously been bought under the original Low Price to Book Value guidelines, and those shares also continue to be held.
Alphabetically, my current top-five low price to book value equities are: AGII; AHL; ANAT; NWLI; and PRE.
My new featured Low Price to Book Value security is American National Insurance Company (ANAT) (recent price $113.70). ANAT meets Benjamin Graham's bargain stock value and safety criteria.
American National Insurance Company will be added to our nest egg at its market price in early morning trading on Monday, 3/17/14.
I presently find the following assets attractive as Dividend Value stocks: AP; MLR; RGR; USMO; and UVV.
From among them I are choosing Sturm, Ruger, and Company, Inc. (RGR) (recent price $62.15) as our current dividend value equity to feature. It meets Ben Graham bargain stock criteria and will be added as well to our nest egg at its market price in early trading Monday morning, 3/17/14.
3/23/14-Since the last entry, there have been no sales or sell signals among stocks followed here.
Alphabetically, my current top-five low price to book value equities are: AEG; AGII; AHL; ANAT; and CLF.
My new featured Low Price to Book Value security is Argo Group International Holdings, Ltd. (AGII) (recent price $46.39). AGII meets Benjamin Graham's bargain stock value and safety criteria.
Argo Group International Holdings, Ltd. will be added to our nest egg at its market price in early morning trading on Monday, 3/24/14.
3/29/14-Since the last entry, there have been no sales or sell signals among stocks followed here.
Alphabetically, my current top-five Dividend Value equities are: AGU; INTC; RGR; SUP; and UVV.
My new featured Dividend Value security is Superior Industries International Holdings, Inc. (SUP) (recent price $20.15). SUP meets Benjamin Graham's bargain stock value and safety criteria, based on its dividend plus low debt to equity.
Superior Industries International Holdings, Inc. will be added to our nest egg at its market price in early morning trading on Monday, 3/31/14.
Hopefully, I'll get the quarterly review posted soon after the end of the month. Am a little behind on my total book value tally, but expect to catch up in the next couple days.
Disclaimer and Disclosure Statement
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.