Gosh, with the endless news about General Motors (GM/NYSE) I could easily turn this into a GM blog. For example, this column by Bloomberg's Doron Levin is a good piece on Kirk Kerkorian and the company.
I guess it's just human nature to focus on life's troubles. Or, when running your own portfolio, to concentrate on your holdings that are under water.
But I want to be able to enjoy the coming 3-day weekend. So I'll remind myself that there are plenty of winners in the portfolio. Nikko Cordial ADRs (NIKOY/OTC), 3i Group PLC (III/LN) and Deckers Outdoor (DECK/NASDAQ) have been especially gratifying holdings over the recent past. I wish there was more to post about them.
Yet there really isn't.
These managements just keep operating their businesses in the interests of shareholders, and over time the share prices reflect that fact more and more.
You could say these are cases of no news being good news.
Of course, what appears to be a winning stock today can be a loser tomorrow. And today's loser can eventually be a winner. Let's keep that in mind. We're still in early innings with all the holdings. Even the reviled GM.
If you are still sanguine on the auto sector, I would suggest looking at LEA (hitting new lows). Rich Pzena spoke about the stock not long ago, and was very insightful about the temporary nature of its problems, and how it would be a survivor regardless of the success (or lack thereof) of US automakers.
(Note: I own this stock)
Posted by: Duncan Simmons | January 14, 2006 at 12:26 AM
Duncan,
I'll check it out. Thanks for reading.
Posted by: John | January 14, 2006 at 03:53 PM