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August, 2014: 16
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.


8/16/14-On 8/4, our Low Price to Book Value portfolio stock, SNE, bought on 5/12/14 based on the Low Book Dividend Plus criteria, later incorporated into Low Price to Book Value, was sold for a net gain (after commissions but not counting any dividends) of 5.34%. SNE has been deleted from our open positions record for Low P/Bk assets, and its closed position info for 5/12/14 through 8/4/14 has been added to our portfolio spreadsheet for low price to book value redemptions and mergers. SNE no longer met the buy criteria. (See the buy/sell guidelines for Low Book Dividend Plus in the 11/5/13 entry.)

Alphabetically, my current top-five Low Price to Book Value equities are: ELP; KELYA; PZE; REGI; and TA. Although its price to book is higher than I usually go for, I also like AEL. In the coming days or weeks, besides my currently featured choice, I may be adding shares of any of these securities to our nest egg.

My new featured Low Price to Book Value security is Travel Centers of America (TA) (recent price $9.52). TA meets Benjamin Graham's bargain stock value and safety criteria.

Travel Centers of America will be added to our nest egg at its market price in early morning trading on Monday, 8/18/14.

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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