I think today may have been my best day ever as a percentage, if not on an absolute basis on a relative basis compared to market averages. I was up 8.8% as I had about 10% stocks up more than 10%, led by QXM and EGY, both up over 20%.
Sadly, I am still far in the hole... I don't even think the past week (in which I have gained about 20%) has gotten me to where I was on November 1st... which wasn't exactly a stellar number. I do think the Chinese rate cut was a big impetus, as it seemed to push oil and basic resources up along with construction stocks like PCR, KBR and KHD.
I believe this 20% increase I have had is a bear market rally... it'll be fun while it lasts but I expect more blood-letting in early January. Hope I am wrong, but I am trying to look with a longer horizon... so I'll just ride out the jolts. Not much else to say, hope everyone has a nice Thanksgiving!
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I started using the magic formula in August 2008. To date I'm down 25.28%. Had I invested in the DOW (DIA) my loss would have only been 13.17%. I've deviated from the formula by buying about 30 magic formula stocks during that time period. The formula suggests 7-10 per quarter. I'd think 30 would actually enhance my diversification.
EGY was by far my best investment. The majority have been major dogs. It is the only one that is making money and doing very well. I also got stuck with the IDAR mess. I'm starting to wonder if simply investing in the DOW would be better and easier in the long run.
I just found your blog today and I really like what you are doing. I'll continue to read about your experiences. Good luck!
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