Busy Week

As I mentioned in my prior post, it was not a great week for me.  With all the noise, I decided to make a few portfolio moves.  In part, I feel like I have gotten a little too spread out in # of stocks and then I decided to take some short term capital losses for tax purposes and moved the funds into alternative securities.

1. I bought TCRD.  This is one of three or four BDC's I had been following since I sold FSC earlier this year.  They yield 9% and are run by TH Lee. They had a secondary offering this week and dropped because of that offering (THL Credit Prices Public Offering).  Then that same day, Leon Cooperman said he was a buyer (What Leon Cooperman Is Buying Now) and that tipped the scales for me.
2. I bought ACAS.  This is a venture capital firm I have been watching for a while.  The key point for them is they are trading at just 65% of book value... but they are making money (trading at 10x next year's earnings).  So they are actively using their earnings to buy back stock, which at 65 cents on the dollar is highly accretive.
3. I bought TGONF. This is a financial firm in the Netherlands that pays a decent dividend (5.2%) and is trading at a fraction of book ($17.03 per share and I bought for $10.40).  I am very excited about the potential here.
4. I sold NEM and ABR.  These were both poorly timed investments. I lost 24% on NEM and 12.5% on ABR.  So i will take my capital loss and move on.
5. With 85% of the proceeds from those sales, I bought more FCX, INTC and CIM.  They are all in my dividend portfolio.  There was a great article on Intel in Barron's today (Coming Soon: Intel's Must-See TV).  I was aware of this, but seeing it in print was uplifting!
6. I bought more KLIC.  This is in my May MFI tranche.  But I had been watching it looking for a drop in price and got it this week.  They are in what I think is a temporary slump. They are still making money and have a ton of cash (This Chip Equipment Maker Is a Bargain If Capital Returned to Shareholders).

So, busy week with the gyrations of the markets.  I do have a couple other orders in event that markets sell off more (MRK, PNC and HIG).  I am also watching the TARP warrants closely.  If markets sell off more, I may add to my BAC warrants or else buy some for another firm.  I am still 22% in cash.