Stockcoach

It has been over 19 years since I stopped writing my blog at stockcoach.blogspot.com. The portfolio has done reasonably well since then. As of today, the portfolio index, which is calculated net of any cash deposits and withdrawals, stands at 30,612, up from an initial value of 100 in November 2000. Since I last posted in February 2007, the portfolio index is up 17.8x. For comparison, the S&P 500 is up 5.1x over this period, while the Russell 2000, probably the best benchmark for my portfolio, is up 3.5x. With the exception of a few short months in late 2008/early 2009 and February 2020, I never used margin debt. On the contrary, I have generally maintained very large cash positions. My portfolio is spread across several brokerage accounts, many of which contain cash, bonds, and global ETFs in addition to individual stocks. The individual stocks have done better than the bonds or the ETFs. My IB account, which I use more for trading than the other accounts, is up 1,744% since 2010. That is about 20% annualized. I estimate that the individual stocks returned around 25% to 30%. To my detriment as a deep value investor, I never owned much tech. Why did I restart the blog? Partly because I enjoyed writing it, partly because I want to help other investors, and partly because I missed the discipline it provided. I will admit that I haven’t really devoted much time to stock screening over the past 19 years. Maybe one hour per week. I have a lot of great resources at my disposal now, including BCA’s Equity Analyzer platform, so I plan to take more advantage of them.

Latest holdings. As a reminder, most are chosen based on quant screens. My knowledge of what these companies do is generally minimal and sometimes non-existent. I use AI heavily for due diligence.

Portfolio company DDI acquired at a modest premium over Friday’s closing price. Good report from AWX, although I doubt it reflects a sustained profit recovery. Management should just sell the company. It’s pointless to keep it public.

Lots of stock-specific problems this week (KTCC, KELYA, FIVN) amid a general stock market decline. I added some risk to the equity book this week.

Averaging down on SNT. Great report this morning. I like the new LIDAR business.

Went long SNDK earlier today for a quick trade. Now trading at 3.5 times next year’s earnings.

Tough market. My biggest position is now… TLT.

Nasdog 🐶 Going to buy a bit here for a short-term trade🤞

Bought some #PAL. Stock seems oversold and I like the insider buying there.

One of my small caps, #GIGM, out with some interesting news about its robotics investment this morning. I’m still deeply underwater on this stock, however.

Bought a bit more INTC this morning 🤕

Lots of stocks in my portfolio are down after disappointing earnings over the past two days (XRX, DXC, INTC). Ouch!

Taking some profits on #RELL though I still have a fairly big slug of shares there.

Trimming SM, one of my oil longs. I get that there is high probability that the US will strike Iran after the midterms, but with oil flowing at pre-war levels through the Strait, a lot of the risk is already priced in.

Taking partial profits at $3. My analyst, ChatGPT, does not see any fundamental reason for today’s 20% gain.