For value investors, the past few months (and even longer) have not seen an abundance of stocks available at attractive prices.
The biggest evidence of this fact consists of the several major value-oriented mutual funds that are closed to new investors.
A smaller piece of evidence is our portfolio currently having only 7 holdings.
We will eventually have somewhere around 20-25 positions -- which would be a fully invested portfolio in my view.
I'm cautiously optimistic about finding more opportunities in the coming weeks and months. I've pinpointed a few specific companies I'd like to own. But only if they can be bought at the right price.
I also remain optimistic about each of our current holdings. While owning 7 stocks is too few to judge as a group, I do like the way the CG portfolio is shaping up. We own companies in a variety of industries, including automotive (GM), beverages (Molson Coors), broadcasting (DirecTV), financial services (Nikko Cordial), office equipment (Imagistics International), private equity/LBO/venture capital (3i Group) and property & casualty insurance (Fairfax Financial).
The next few portfolio additions will most likely be companies in some of those same industries, as well as new industry categories.
Remember, I own every stock mentioned on this site . . . so if you follow my moves and I benefit, you benefit. If you buy a stock I view favorably and it turns out to be a loser, well, I feel your pain.
When did you buy Fairfax? I've been following it for a while; please email me your thoughts on it...
Best,
Shai
shaidardashti@gmail.com
Posted by: Shai | July 26, 2005 at 10:02 PM
Shai,
I've owned FFH for several years, before this site was launched. I've posted before that my average cost is $125.00. My thoughts on it can be found by clicking on its name in the "Current Holdings" menu on the right hand side of this blog.
Posted by: John | July 27, 2005 at 10:43 PM