11/8/15-Since our last entry, the following asset (held over two years) was sold from the Low Price to Book Value portfolio:
SSRI, bought on 10/30/13, was redeemed on 11/2/15 for a net gain of 19.62%.
This return is after commissions but does not include any dividends. The buy/sell dates, amounts, and results have been added to our spreadsheet for Low Price to Book Value closed positions and will be incorporated into the stats of our quarterly performance reports.
One result of selling shares in stocks that have seemingly been going nowhere, as occurred over the previous several weeks, has been to reduce the portfolio's total book value. To make up for this, I am adding shares in other low price to book value stocks that have already been mentioned here, enough to maintain our total book and total dividend year-end targets. Assets in which I intend to purchase new shares include: AEG; AGO; AIG; ATW; FRD; FSTR; GLPW; NOV; and VOXX.
At this time there are no new Ben Graham assets meeting my lately more strict purchase criteria. RCKY, though, which was noted last month as meeting standards for both the Low Price to Book Value portfolio and the Dividend Value portfolio, but was then only purchased for the latter holdings, is, effective tomorrow, Monday, 11/9/15, being added to the Low Price to Book Value part of our nest egg as well.
In analyzing the book value status of various of our securities of late, I have found that the following either have negative book value now or have a price to book value greater than one. Accordingly, they will be sold over the next few days and their buy/sell dates, amounts, and results will then be included on our spreadsheet for Low Price to Book Value closed positions and will be incorporated into the stats of our quarterly performance reports: AEL; AGII; CLF; and HP. As of this writing, their combined performance since purchase (including commissions but without dividends) has unfortunately been a 13.50% loss.
I have now noted that GLPW has omitted S.E.C.-required quarterly reporting. Accordingly, it will NOT be among companies whose shares I shall be adding through the balance of the year in order to assure my 2015 total book value and total dividends targets are met.
Instead, I expect to be buying shares of Newmont Mining (NEM) (recent price $17.86). Since they are currently a little above my max threshold for low price to book value Ben Graham assets (0.80), however, these shares will not be counted among the Low Price to Book Value portfolio holdings (unless later so recommended when/if NEM's book value increases and/or price decreases sufficiently to meet that criterion).
In addition, I see that I have neglected to tell folks about having sold all shares of IAG, originally mentioned here as a low price to book value suggestion on, I believe, 7/26/13. IAG was sold on several occasions from 8/12/15 through 9/16/15. The combined performance (net of commissions but not counting the liberal dividends which this asset had been providing when purchased) was a loss of 69.02%.
11/15/15-Am looking at five Low Price to Book Value stocks, all of which appear at recent prices to still or again meet Ben Graham value and safety criteria: ANAT; NOV; RCKY; SSI; and SYNL. I intend to add shares or new shares in all five to our nest egg this week.
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