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Here is notice on a few transactions in the $$$MR. MARKET$$$ portfolio which were executed today.
Last week, on October 6th, the management of AACE formally closed on a sale of the company at a price of $30/share. That’s a 4.3% loss compared to my purchase price of 31.34 on March 5, 2004. Hey, you win some you lose some. I’m sure that management did very well on the shares that they have been holding for quite some time. Now they can blow it all in Vegas like I did. I’m very happy for them.
So since I had the day off from work today, I decided to do a little more housecleaning in my portfolio and I executed the following 3 trades:
I sold PRX at 17.79 which is a 75% loss vs. my purchase price of 72.40 when I bought this stock back on 9/18/03. Yea…this one was ugly and disappointing. The revenue growth really tailed off as pharmaceuticals came under pressure and PRX never recovered. So..bye bye!
I sold CBK at 29.15 which is a 1% loss compared to my purchase price of 29.38 on October 20, 2003. However during the 3 yr holding period, this company paid annual dividends of around 1%, so I came out a little ahead on this company.
Finally, I closed the book on BEL, selling it today at a whopping $0.85/share vs. my purchase price of 21.12 back January 2, 2004. Nothing ever went right for me on this investment and I was certainly fooled by BEL’s lack of execution on growing their customer base and getting the facilities operational that they had promised. Constant restatement of earnings left little credibility for management and the market took it outside and shot it. If you think this was a bad investment for $$$MR. MARKET$$$, you are correct, but it’s not even as close to the bad bet I made on Saturday, taking the University of Houston over Louisiana – Lafayette. Ouch!
The good news with all of this housekeeping is that I have a lot of cash to reinvest in several open positions in my portfolio. You should see some brand new picks coming out regularly from $$$MR. MARKET$$$ over the next few months.
With the selling of AACE, my winning streak of consecutive 15% profitable closed trades was snapped at 83 in a row. Not bad…but I will do better. The “new” $$$MR. MARKET$$$ streak started on March 11, 2004 with my purchase of HZO so now I’m up to 23 winners in a row. If you ever want to track all of my open and closed trades, you can always see them on my homepage:
It should be a lot of fun seeing how many more winners I can put together. Hopefully you are having fun watching the stock market with me. I’m always interested in hearing some feedback from you.
I am HUGE!
$$$MR. MARKET$$$
Last week, on October 6th, the management of AACE formally closed on a sale of the company at a price of $30/share. That’s a 4.3% loss compared to my purchase price of 31.34 on March 5, 2004. Hey, you win some you lose some. I’m sure that management did very well on the shares that they have been holding for quite some time. Now they can blow it all in Vegas like I did. I’m very happy for them.
So since I had the day off from work today, I decided to do a little more housecleaning in my portfolio and I executed the following 3 trades:
I sold PRX at 17.79 which is a 75% loss vs. my purchase price of 72.40 when I bought this stock back on 9/18/03. Yea…this one was ugly and disappointing. The revenue growth really tailed off as pharmaceuticals came under pressure and PRX never recovered. So..bye bye!
I sold CBK at 29.15 which is a 1% loss compared to my purchase price of 29.38 on October 20, 2003. However during the 3 yr holding period, this company paid annual dividends of around 1%, so I came out a little ahead on this company.
Finally, I closed the book on BEL, selling it today at a whopping $0.85/share vs. my purchase price of 21.12 back January 2, 2004. Nothing ever went right for me on this investment and I was certainly fooled by BEL’s lack of execution on growing their customer base and getting the facilities operational that they had promised. Constant restatement of earnings left little credibility for management and the market took it outside and shot it. If you think this was a bad investment for $$$MR. MARKET$$$, you are correct, but it’s not even as close to the bad bet I made on Saturday, taking the University of Houston over Louisiana – Lafayette. Ouch!
The good news with all of this housekeeping is that I have a lot of cash to reinvest in several open positions in my portfolio. You should see some brand new picks coming out regularly from $$$MR. MARKET$$$ over the next few months.
With the selling of AACE, my winning streak of consecutive 15% profitable closed trades was snapped at 83 in a row. Not bad…but I will do better. The “new” $$$MR. MARKET$$$ streak started on March 11, 2004 with my purchase of HZO so now I’m up to 23 winners in a row. If you ever want to track all of my open and closed trades, you can always see them on my homepage:
It should be a lot of fun seeing how many more winners I can put together. Hopefully you are having fun watching the stock market with me. I’m always interested in hearing some feedback from you.
I am HUGE!
$$$MR. MARKET$$$
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