Personal Portfolio Update: H1 2011

Updated on

I try to update my performance on a regular basis. I have been very busy lately, and have not had a chance. I also shut down my covestor account since it was totally not tracking my performance properly. The reason I shut it down now, is because someone gave me a fairly large amount of money to manage, and even though it was in their own IRA account; since we have the same brokerage, Covestor was important that data as my own holdings!

I am going to write about my favorite investment idea: Cisco long term call options hopefully sometime this week, maybe tomorrow.

I also started writing up the main investment ideas (not specifically stocks, but the process itself), which I learnt from the value investing seminar in Italy.

Here is just a brief portfolio update:

I was trailing the market earlier this year. However, after the market decline in June, at the half way point I am up this year:

As of June 30, up ~9% ytd vs spy ~6%, despite holding ~30% cash. Up 31% cumulative vs market since inception 3.5 yrs ago

My largest holdings (besides cash) are from top to bottom in ranking order:

Premier Exhibitions (unsure on this one) Court ruling within weeks, we will see how it plays out. I have been disappointed and wrong in my thesis, but hope am hoping that the company makes the right decisions based on whether they win cash or the assets of the titanic.

Nucor (this is one of my Warren Buffett style stocks. Nucor has a built in compensation structure that enables them to be a low cost producer, which would be very hard to mimic by other competitors). Although, the Steel industry is suffering, and capacity utilization is very low. I do not plan on selling unless there is a major change in the company, or the industry itself.

Wellpoint- Have had great gains on my stock, but think the company has a powerful moat of local economies of scale as Bruce Greenwald  has explained, and is relatively cheap on an earnings basis. Additionally, management has been excuting well, and are great alloca

MAXIM POWER CORPORATION (this is a hidden asset play, which I picked up earlier this year. The company has assets alone that are worth more than the current market cap. I plan on holding for now).

Calamos Asset Management-I have been waiting for a while on this one. Due to the complex corporate structure the effective PE is far lower, than what would appear on any screener. I bought the stock about a year ago, it went up and is now down; despite it being cheaper and qualitively better with more assets under management, and new products being offered.


As I state in my website disclaimer, nothing I write is meant as investment or legal advice. Everyone must due their own due diligence.


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