I was listening to a podcast this weekend. The commentator said, "if you are not busy buying stocks right now, you cannot call yourself a value investor."
That made me think. Is he right? I have been keeping some powder dry as this year continues to spiral out of control for my portfolio. I am down 11% for the year and many MFI tracking portfolios are in full correction mode as well (4 of open 12 down 10% or more).
The commentator was talking about energy names and they are down even further. XOP (an energy ETF) is down 17% for the year and over 25% from 6 months ago. Many of the names I own have been bludgeoned:
| Ticker | Bought | Current | Dividend | Gain |
| APA | 40.57 | 33.01 | 0.50 | -17.4% |
| AR | 18.57 | 12.75 | - | -31.3% |
| CHK | 4.50 | 2.72 | 0.02 | -39.1% |
| ECA | 10.56 | 6.43 | 0.01 | -39.0% |
| ET | 15.02 | 14.25 | 0.75 | -0.1% |
| FSLR | 45.05 | 42.59 | - | -5.5% |
| KMI | 16.73 | 16.35 | 0.40 | 0.1% |
| OXY | 79.75 | 66.54 | 1.69 | -14.4% |
| PXD | 188.01 | 143.00 | - | -23.9% |
| SEDG | 45.22 | 38.03 | - | -15.9% |
| WPX | 17.81 | 13.20 | - | -25.9% |
Look at AR, ECA and CHK. All down more than 30% and that is with some averaging down on the falling knife. If I don't buy more at these prices, can I call myself a value investor? With the agreed oil cuts this past week, are these names coiled springs? Or do they drop further due to tax selling in December? Hmm.
What do my readers think? I am scared to buy, which usually marks a good time to buy.
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