HFIB = Hope February Is Better.
Added to T Rowe Global Allocation (RPGAX). Added Leucadia spin-off Crimson Wine Group (CWGL) and added to Gibson Energy (GBNXF.PK). Probably the last of my additions to booze and energy.
Crimson Wine shareholders get a 20% discount. The way the market has been I'll probably take advantage of it lol.
I was looking at Chevron (CVX) on the dip today, but just couldn't find a place for it and have too much oil and oil related already.
Comments
Getting punished by SCHN.
Would like to get back into HES.
Have eye on XRX and GE, plus HCP and CHE.
So, nothing new.
Bummer. I thought about getting into Cliffs Nat Resources convertible preferred yielding over 9%, but just didn't move on it for whatever reason. In terms of HCP, I'd also look at VTR (HCP is a fine option, too - either way.)
http://seekingalpha.com/article/1970431-ventas-leader-of-the-healthcare-reit-industry?source=yahoo
Regards,
Ted
Cancer immunology is red hot area in biotech space.
Regards,
Ted
Regards,
Ted
http://finance.yahoo.com/echarts?s=FBIOX+Interactive#symbol=fbiox;range=5y;compare=prhsx;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=;
This is not my style at all in the past. I used to panic and sell on down days. After getting educated by many folks on this board, I started DCA'ing into the funds I chose on the days there is a huge sell off. In the last 1 week or so I did buy on 3 days.
nath
Regards,
Ted
The numbers: IBB: Industry Exposureas of 01/30/2014
Biotechnology 77.02%
Pharmaceuticals 15.82%
Life Sciences Tools & Services 7.09%
Health Care Equipment & Supplies 0.10%
(PRHSX is closed(WRONG), with the exception of existing holders or access through group plans.)
EDIT: I stand fully corrected per InformalEconomist's note below, PRHSX is open in spite of closed notations at some broker web sites.
If you hold SHSAX, hopefully it is load waived for the 5.75% upfront.
Take care,
Catch
In the meantime, I see nothing compelling about SHSAX whatsoever. Like many others, I do own a good bit of PRHSX.
1. Scaling out of individual equities. Had been holding a basket of 20 stocks (20% of portfolio - 1% position in each) but sold 1/2 of them (all with less than 1% losses at time of sell order) over the course of the day. Will sell the remainder over the course of next week, hopefully selling into strength.
2. Will sell my most volatile MF (GUCAX) - AllianzGI Ultra MicroCap fund - and will put that money into a less volatile fund, e.g., AMANX, FPACX, etc.
3. Continue to hold core basket of equity MFs - 55% of portfolio.
4. Will take 5% position in OSTIX - Osterweis Strategic Income. This will be my only bond
position.
5. Hold approximately 35% cash for the remainder of the year.
Assets sometimes go up and down on fundamentals and sometimes on technicals. Biotech is purely trading on technicals at the moment because of all the momentum trading and performance chasing.
If you are a trading, strongly recommend putting a stop limit a bit below 200 as people trading on technicals will run at that point expecting a retracement to 185. This is the likely scenario if the markets continue their correction.
For people buying on "dips", for something this volatile, 3-5% dips arent really dips. Consider the 5% upside potential vs 15%+ downside potential in the short term. If the market keeps heading down, don't chase it down at every dip. Better to wait for the market to stabilize or the resistance to hold around 185 for this fund.
There is no way to accurately predict what might happen but when an asset is this stretched, the risk/reward ratio becomes lopsided. Just some suggestions to do with it as you wish.
FBIOX is a good fund in a promising sector for active investors, not for passive buy and hold investors given its volatility and concentration. I agree with the suggestions above of holding broader funds in health care sector as a satellite fund to your core portfolio.
Take care.
Thank you. I have corrected/edited my post above.
Take care,
Catch
I just finished review of my portfolio’s asset spread sheet for the month. All tolled, I am down only 1.6%. In comparison the S&P 500 Index is down 3.6% and the Lipper Balanced Index, my bogey, is down 1.6%. Although, I did a little buying around the edges I did more selling than I did buying so that makes me a net seller for the month of January.
In review of my portfolio through Morningstar’s Instant Xray my target allocations remain 20% cash, 25% income, 45% equity and 10% alternative. So, for me, not much has changed during the month of January. However, I did notice where emerging markets now account for 3.8% as compared a month ago at about 4.8%. So, it appears some of my funds have trimmed emerging market holdings and rotated to other assets. In addition, M* has the portfolio scored at 105% long and 5% short the same as it was last month.
And, with this, I just keep on keeping on, for the most part, accruing cash (as my portfolio yields better than 5% on amount invested). I may do some more buying around the edges if the markets continue a downward trend during February. I guess you could score me in the just pondering camp as I have no plans to up my allocation to equities but I might somewhat reconfigure my positioning in them.
Old_Skeet
Thanks a million for your posts & links. Very helpful.
Regards
nath
Not a good start to February, unfortunately.
At stops, halved positions in SCHN, SENEA, and JBSS.
Does feel like market is oversold at this point.
Will be looking to scoop-up others on watch list, mentioned previously.
Sold short position in nasdaq.
Since the S&P 500 Index has now pulled back to what I compute to be fair value range I did a little buying mostly in mutual funds that hold a good number of dividend paying equities. I bought a sum equal to about one percent of my cash position. My next buying stop is at about 1700 on the S&P 500 Index. At 1700 this will equate to about an eight percent pull back on the S&P 500 Index. Remember the debt ceiling debates in Congress are coming soon.
It seems the hot money crowd that perhaps ran the market up over fair value are now starting cut and run and to deleverage their equity positions. Perhaps the markets will return to an over sold condition as investors, traders and speculators now trim their positions. And, value investors, like myself, can take advantage of this pull back.
Have a great day … and, I wish all “Good Investing.”
Old_Skeet
Will add more if the market keeps falling.
In my humble opinion The past 2 weeks have followed the script for a normal bull market pull back.
Good luck to all.
Good luck out there.
Thanks for taking the time to express your thoughts. That's the only way I, and others, can learn what other investors are thinking. I wonder, can you posture why you believe a 1150 valuation on the S&P 500 Index is fair value? Please explain your thinking. I am not seeing this.
Based upon TTM on the S&P 500 Index then the 1150 valuation that you reference as fair value would put its trailing P/E Ratio at around 11.3. And yes that indeed would be buying at a good discount as a normal P/E Ratio range is somewhere between 14 to 16 by historical measures.
Thanks again for making a comment.
Old_Skeet