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June, 2015: 9 22
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. |
6/9/15-Sorry to have missed any report for the month of May. There was an unavoidable technical glitch. Glad it has now been resolved.
Since the prior entry, the following assets have been sold from the Low Price to Book Value portfolio:
TGA, bought on 12/15/14, was partially sold on 4/29/15, for a net gain (not including any dividends) of 55.54%. The balance of our TGA shares (also bought on 12/15/14) were sold on 4/30/15, for a net gain (not including dividends) of 56.05%. The shares might continue to go up, but it was felt that, given the somewhat overbought level of the market generally, an over 50% gain in a few months was sufficient.
KBAL, bought on 11/16/14, was sold on 6/8/15 for a net gain (not including any dividends) of 24.15%. The price to book value for KBAL has been recently reported as over 3.00, so it is no longer appropriate as a value holding.
The buy and sell dates plus results for these sets of round-trip trades have been added to our spreadsheet for Low Price to Book Value closed positions and will be incorporated in the stats for the next and subsequent quarterly reports.
Alphabetically, my current top-five Low Price to Book Value equities are: ATW; GIFI; NWLI; TX; and WILC.
My new featured Low Price to Book Value security is Atwood Oceanics, Inc. (ATW) (recent price $30.10). ATW meets Benjamin Graham's bargain stock value and safety criteria.
Atwood Oceanics, Inc. will be added to our nest egg at its market price in early morning trading on Wednesday, 6/10/15.
Alphabetically, my current top-five Dividend Value equities are: ATW; GLPW; MLR; SSL; and WSTG.
My new featured Dividend Value security is Miller Industries, Inc. (MLR) (recent price $20.12). MLR meets Benjamin Graham's bargain stock value and safety criteria.
Miller Industries, Inc. will also be added to our nest egg at its market price in early morning trading on Wednesday, 6/10/15.
6/22/15-Oops. I had VOD in two portfolios, and while correctly selling it from one I accidentally also sold the shares of it from our Low Price to Book Value portfolio. P/Bk for VOD is still only 0.96, so I ought to have held the shares at least till they were up to $39.01 (P/Bk = 1). Instead, the sale went through this morning at $37.78. VOD was bought on 10/1/14 and thus sold early in error today for a net gain of 15.03% (that is, including commissions but not counting any dividends). VOD still looks like an interesting Dividend Value asset, with a current yield of 4.60%, so I may well later buy it again if there is a dip. However, I am concerned that the forward P/E estimate is over 50. Perhaps there are better candidates out there at this point.
The buy and sell dates plus results for VOD have been added to our spreadsheet for Low Price to Book Value closed positions and will be incorporated in the stats for the next and subsequent quarterly reports.
Alphabetically, my current top-five Low Price to Book Value equities are: ATW; BAMM; GLPW; NWLI; and REGI.
My new featured Low Price to Book Value security is Books-A-Million, Inc. (BAMM) (recent price $2.72). BAMM meets Benjamin Graham's bargain stock value and safety criteria.
Books-A-Million, Inc. will be added to our nest egg at its market price in early morning trading on Tuesday, 6/23/15.
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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.