In order to create a branch from the facebook.com/iup.smip, we have created this blog to convey more information to more readers, hopefully. This blog will be a go to reference for the current status of the portfolio and, if possible, used for absentee voting. All research and updates will be posted here while the facebook page will continue to be the source for discussions of news topics.
To start off, the following is the Year to Date (YTD) performance for the portfolio and our benchmark of the S&P 500 (SPX). Also, an update in regards to the vote held at last night's meeting.
End Q4 Portfolio Value: $435,774.65
March 21 Portfolio Value: $478,614.88
YTD Return: 9.8308%
End Q4 SPX Value: 1258.86
March 21 SPX Value: 1402.89
YTD Return: 11.4413%
Comparison to Benchmark: Lagging (1.6105%)
There are only 7 trading days left in Q1 to try and cover this difference.
In regards to last night's vote to buy Safeway Inc. (SWY), all orders posted last night cleared today. The orders started our average basis for the 400 shares bought at $21.08, including trading cost.
Today marked week 4 for the analysis group meetings. Results of today' meeting show a strong purchase opportunity for Tenneco Inc. (TEN) and Chimera Investment Corp. (CIM). Unfortunately, we are currently almost full weight of our Financial sector target of 16.3%, currently 14.82%. This allows only a small amount of leeway for a major purchase of (CIM) of 1.5%. Consumer Discretionary is sitting at only 4.2% with a target of 16%, plenty of room for a full 4% buy-in to of (TEN). After the purchase of (SWY) we are still sitting on $45,000 of cash to use for acquisitions.