With the purchase of USA Mobility (USMO/NASDAQ), the CG portfolio has 9 positions. I've posted several times previously that I believe a fully invested portfolio would have 20-25 positions.
We're not there yet. But we're making progress, slowly.
There hasn't been an abundance of things to buy in this market. Proof of that fact is venerable value managers such as Southeastern Asset Management and Tweedy Browne closing their mutual funds to new investors. They can't find enough to do with their cash. And I can't, either (though my cash amount is certainly much, much less!).
Still, when CG was launched at the end of April, I was hoping to have more individual holdings by now. But the past few months have been weird. Stocks tend not to be absurdly cheap or expensive. It seems most are trading at fair value.
I'm cautiously optimistic about our 9 holdings. It's still way too soon to know how profitable they will turn out to be. Or how many could even turn out to be mistakes. Yet I'm heartened that (so far) we haven't had any "blow ups" in the portfolio.
I'm checking out a couple more things to buy. Thanks for staying tuned.
Comments