With all the talk about the blogging revolution, this is yet another one to join the party. It's called Controlled Greed (CG), it's about picking stocks from a value perspective.
Right now, I'm holding a lot of cash. But the my portfolio will normally contain 20-25 positions. To give you an idea of the types of things I invest in, I currently hold Audiovox (VOXX/NASDAQ), MCI (MCIP/NASDAQ), and Korea Electric Power (KEP/NYSE). Please note that I am not currently recommending the purchasing of these -- those names are provided to give you a flavor of some of the things you can expect from this blog.
Audiovox is a small cap electronics company. It doubled in price and I sold half my position some time ago. I continue holding it, for now, because it remains undervalued. MCI was purchased some months ago at $17 as a takeover candidate. Since then, of course, Verizon and Qwest have been in a bidding war for the company and I'm holding on for the ride. It's been trading in the mid-$20s. Korea Electric Power was purchased at $8.85 because the utility was cheap and somewhat of a special situation -- the South Korean government is in the process of privatizing it -- and is now trading in the $13-$14 range.
But don't get the idea that every stock purchase works out. I've had my share of losers.
For example, Friedman's (the jewelry store chain) was dirt cheap and profitable when its shares were bought. Then a combination of awful management and eroding finances saw the stock price plunge. When new management talked about bankruptcy I sold at a loss.
Legendary investor Sir John Templeton said once that world class investors get 6 out of 10 ideas right over time. So take that to heart. I do.
And I remind you of something said in this site's "About" page. That is, I personally own or am actively buying EVERY stock mentioned on CG. So if you follow this blog here's the deal: if I make money, you make money. If you lose, well, you at least have the satisfaction of knowing I feel your pain.
Anyway, this is the beginning. There isn't too much to buy right now, but I will be talking about a few "buys" in the next few days. For now, welcome. And thanks for coming.
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