What was the first stock mentioned? GA, one of my largest holdings! I was surprised to learn that GA has $100 million invested in real estate. Regular readers will recall that GA is in two of my MFI tranches (May and November) AND that I parked a fair amount of $$$ in them on 12/2 as they have a $11.75 buyout offer that I felt had little downside, but had some upside.
So what to do? Should I pare that discretionary component? Should I do nothing? Feeling confident that
I think I am likely to do nothing and stick with my resolution. While $100 million seems like a lot (and it is to people like us), GA is a $2.7 billion market cap company with over $600 million of cash and ST investments (I am surprised that real estate investments would fall in that category).
Stocks From May 2nd
Every now and then I show how the stocks in my portfolio as of May 2nd (many sold post then) have performed. I show this cut as May 2nd was really the day many investors woke up and smelled the coffee and recognized that the Fed at some point would start tapering. From that point, gold, precious metals, dividend stocks, bonds, mortgage reits and many foreign equities under-performed. One interesting thing to keep in mind that ven though this was apparent to all post May 2nd and the sell-off began there, there was still plenty of time after May 2nd to get out of these positions (and thus avoid some of the pain).
| Stock | May 2nd price | Dividends | Current | Change |
| 32.66 | 0.80 | 24.39 | -25.3% | |
| O | 51.09 | 1.27 | 39.13 | -23.4% |
| BHK | 14.95 | 0.59 | 13.63 | -8.8% |
| TC-PT | 15.60 | 1.23 | 14.33 | -8.1% |
| 7.43 | 0.38 | 6.96 | -6.3% | |
| 6.62 | 0.13 | 6.21 | -6.2% | |
| NSU | 3.64 | 0.14 | 3.44 | -5.5% |
| 52.33 | 1.68 | 50.54 | -3.4% | |
| JQC | 10.38 | 0.48 | 10.19 | -1.8% |
| KMF | 35.15 | 1.38 | 34.76 | -1.1% |
| CIM | 3.29 | 0.27 | 3.35 | 1.8% |
| AOD | 4.17 | 0.22 | 4.41 | 5.7% |
| 23.45 | 1.16 | 25.15 | 7.3% | |
| 25.12 | - | 27.07 | 7.8% | |
| 20.73 | 0.34 | 22.36 | 7.9% | |
| CSQ | 10.64 | 0.56 | 11.55 | 8.6% |
| 24.11 | 0.68 | 26.28 | 9.0% | |
| CYOU | 28.00 | - | 31.59 | 12.8% |
| WU | 15.53 | 0.38 | 17.58 | 13.2% |
| 92.48 | 1.92 | 104.92 | 13.5% | |
| SD | 5.18 | - | 5.92 | 14.3% |
| 33.16 | 0.71 | 38.00 | 14.6% | |
| 13.74 | 0.23 | 15.99 | 16.4% | |
| IWV | 94.88 | 1.36 | 111.62 | 17.6% |
| 11.08 | - | 13.22 | 19.3% | |
| STRZA | 23.91 | - | 29.02 | 21.4% |
| DLB | 31.61 | - | 38.38 | 21.4% |
| BAC-WTA | 5.25 | - | 6.43 | 22.5% |
| CA | 27.23 | 0.75 | 34.18 | 25.5% |
| CF | 183.58 | 2.60 | 233.73 | 27.3% |
| 445.52 | 9.15 | 569.24 | 27.8% | |
| VIAB | 67.25 | 0.30 | 86.35 | 28.4% |
| 54.85 | 0.65 | 70.86 | 29.2% | |
| 30.34 | 1.95 | 39.45 | 30.0% | |
| LPS | 27.28 | 0.30 | 37.73 | 38.3% |
| GNW | 10.33 | - | 15.51 | 50.1% |
| GA | 7.63 | 0.65 | 11.92 | 56.2% |
| 15.99 | - | 26.27 | 64.3% | |
| 18.60 | - | 34.34 | 84.6% | |
| 9.62 | 0.12 | 18.09 | 88.0% | |
| GTAT | 3.67 | - | 8.57 | 133.5% |
| 54.28 | 0.60 | 137.61 | 153.5% |
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3 comments:
Not trying to shake your new resolutions, but I'm staying away from the Chinese markets. I got burned during the RTO garbage back a few years ago. I don't even consider any Chinese domiciled stocks (MFI or otherwise). If I want China exposure, I'll buy an ETF.
Paul T - thanks for the note. I certainly hear you. I lost more than I care to post in the RTO crud. I have been very careful in my recent Chinese picks to go with companies that I am sure are legit. They were painted with the same broad brush on the scandal and it was an opportunity in my view.
Be greedy when others are fearful: right?
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