Adding to Foot Locker

I boosted my share count in Foot Locker (FL/NYSE) by 37.5% today. I paid $13.73 per share.

I first mentioned Foot Locker in July at $20.87. I liked the company then, and I like it even more now (since it's cheaper). Retail can be a tough, tough business but Foot Locker is the major player in its retail segment.

With today's purchase, the average cost of this position is $18.93.

Comments

[Neal]

What portion does cash represent of your entire portfolio? Does FL represent the best buying opportunity of all the positions that have recently dipped? (USMO, CMCSA, etc.)

[John]

Right now cash is roughly 23%. But the portfolio includes retirement accounts that I'm regularly contributing to. Whether Foot Locker is the best position to add to will be proven over the course of time.