“Every dog has his day”. Well, my dogs have been having more than their fair share of days lately. Four straight companies that I bought in my sidecar had negative news this week:
SHOO reported just ok earnings and gave uninspired guidance.
OVTI rained on my parade with a very lackluster outlook on the upcoming quarter.
FDG (bought just yesterday) announced their distribution would be 65 cents Canadian (not good) due to adverse weather (they always have some excuse). FDG did use a word I had never heard before: “demurrage”.
RAIL may be adversely impacted by buyout of TXU as suitors may opt to reduce future orders of rail cars.
SHOO seems to have shaken off their report as they’re up about a quarter. FDG and OVTI are each down about 7%. Needless to say, this isn’t exactly helping my sidecar. Blech.
It was a bad week. Actually on a $ basis it is officially my worst with MFI. Oh well, I was not planning on retiring any time soon. The weekly graph is quite stark. It appears people wanted to be in cash or less margin going into the weekend. But keep in mind that I am still in positive territory for 2007. Interestingly, it is the worst week for the Russell 3000 benchmark since I started tracking. Well, it would be “interesting” if you weren’t invested. Here is the graph as it is so “interesting”:
I did not sell ANF today. I actually bought it on March 3rd in 2006. I am admittedly having trouble figuring out what to replace it with. My original idea was to try to replace like with like. Retailers still on the lists include AEOS, DEBS, Dress Barn (if you were a woman would you shop at a “Barn”?) and ANF. I may just stick with the dog I know.
My issue is trying to decide what to do. I do still have some $ available for the sidecar. EGY at $6.18 looks pretty tempting. I could also probably squeeze in one more MFI stock.
On days/weeks like this I try to stay upbeat. If you went back to miserable June 2006, you’d note for many stocks that would have been the absolutely best time to buy stocks. So unless you think the wheels are falling totally off (and if you do, then watch Kudlow tonight and he’ll make you feel better), then view this as an opportunity, albeit a painful one.
Wow, MF really had some harsh words for OVTI (OmniVision's Reality Bites). I’ll hold for the year, I may have to reconsider sidecar holdings on any sort of bounce.
I have my performance table below. Just a short week ago I mentioned my annualized IRR was 22%. It is now 13%. Ouch.
Have a nice weekend everyone! Looks like Spring is arriving here.
| Current Portfolio | ||||
| Stock | Purchase Date | Cost | Current | Gain |
| PNCL | 5/4/2006 | $6.68 | $17.77 | 166.0% |
| PGI | 4/7/2006 | $7.71 | $10.32 | 33.8% |
| VPHM | 9/11/2006 | $11.79 | $15.32 | 29.9% |
| ISNS | 7/7/2006 | $13.17 | $17.09 | 29.7% |
| BBSI | 9/6/2006 | $19.56 | $24.10 | 23.9% |
| ANF | 3/2/2006 | $61.13 | $74.98 | 23.5% |
| CHKE | 5/16/2006 | $37.55 | $42.44 | 20.2% |
| DLX | 4/3/2006 | $26.41 | $30.00 | 17.9% |
| TGIS | 5/1/2006 | $10.34 | $11.69 | 15.5% |
| BLDR | 9/18/2006 | $15.91 | $17.71 | 11.3% |
| ASEI | 10/5/2006 | $45.85 | $50.54 | 10.2% |
| MTEX | 5/22/2006 | $13.11 | $14.21 | 10.2% |
| KG | 5/31/2006 | $17.31 | $18.45 | 6.6% |
| TRLG | 6/13/2006 | $17.02 | $17.42 | 2.4% |
| FTO | 5/15/2006 | $28.76 | $29.18 | 1.9% |
| CREL | 2/26/2007 | $12.50 | $12.73 | 1.8% |
| AVCI | 2/20/2007 | $8.65 | $8.76 | 1.3% |
| PDS | 3/1/2007 | $22.58 | $22.61 | 0.1% |
| PONR | 5/9/2006 | $30.48 | $29.37 | -3.6% |
| HW | 2/27/2007 | $24.00 | $23.00 | -4.2% |
| DGX | 2/26/2007 | $52.11 | $49.92 | -4.2% |
| EGY | 2/5/2007 | $6.42 | $6.10 | -5.0% |
| LRCX | 2/26/2007 | $46.66 | $43.50 | -6.8% |
| PACR | 2/26/2007 | $28.26 | $26.34 | -6.8% |
| ORCT | 6/2/2006 | $11.83 | $10.95 | -7.4% |
| SHOO | 1/17/2007 | $32.36 | $28.74 | -11.2% |
| RAIL | 5/26/2006 | $58.18 | $48.08 | -17.1% |
| TBL | 3/15/2006 | $34.50 | $26.49 | -23.2% |
| EZEN.OB | 6/19/2006 | $2.84 | $2.17 | -23.5% |
| FDG | 5/31/2006 | $34.03 | $22.74 | -26.1% |
| OVTI | 5/31/2006 | $27.79 | $12.11 | -56.4% |
| | | | | |
| Gain/Loss Open Positions ($): | $19,415 | |||
| Gain/Loss Open Positions (%): | 5.0% | |||
| Gain/Loss Closed Positions ($): | $14,438 | |||
| Gain/Loss Closed Positions (%): | 11.4% | |||
| Total Gain/Loss ($): | $33,853 | |||
| Benchmark Gain/Loss ($): | $27,517 | |||
| Annual IRR: | 12.9% | |||
| Total Gain/Loss (%): | 9.2% | |||
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