March 24, 2015
Pardon my absence since just prior to Thanksgiving, but I had some website issues which I neglected and only recently got fixed (hired a freelancer in New Zealand–ah, the times we live in!)
Much has happened since then. For one thing I was featured at FORBES online. Marketocracy–of which I have written much here–approached me out of nowhere to remind me how brilliant I’ve been with my picks (I now have an 11-year record with them, far surpassing the market as a whole, in 2 different mutual funds I ran there).
I had been neglecting my Marketocracy funds the last several years after they shut the investor forums down. My funds suffered accordingly (I guess “Buy and Hold” doesn’t really work that well), but with the impending article I started getting active again, sold off my losers, and picked up others to match my “real world” holdings.
Marketocracy started offering a “mirror fund” to my own picks (and my own real world holdings) December 11, 2014, and as of this writing a little over 3 months later I am up 16.47% compared to the S&P500 increase of only 3.95% during the same period. Information on investing in this mirror fund–all buys and sells managed by me–are available at the Marketocracy site. (Minimum investment amount is $100,000. HOWEVER, “friends and family” can get in for $25,000. You can contact me at the blog to become my “new best friend”, I suppose, by commenting below–I will have your email then and we can private message…)
Just to get up to date here at the blog with my picks since Thanksgiving: they are China XD Plastics Company Ltd. (cxdc), Altisource Portfolio Solutions S.A. (ASPS), Methode Electronics, Inc. (MEI), PRA Group, Inc. (PRAA), Panhandle Oil and Gas Inc. (PHX), Bancolombia S.A. (CIB), The McClatchy Company (MNI), and InnerWorkings Inc. (INWK).
November 19, 2014
Interesting development for me in that FORBES Magazine interviewed me last week in connection with their upcoming December “Retirement 2015” issue. I remain one of the “stars” at the Marketocracy site I’ve written about here (although not lately), and Marketocracy had passed along my name. I have given the FORBES writer the following 2 stock picks, which I will be purchasing myself today: Fonar Corp. (FONR), which engages in the design, manufacture, sale, and servicing of magnetic resonance imaging (MRI) scanners, and Maiden Holdings, Ltd. (MHLD), which is an insurance company.
I now have a 10+ year record with Marketocracy. Those of you who are curious can see the records for my 2 “star funds” at the following links:
Pettit Mutual Fund #1
Pettit Energy Fund
October 29, 2014
A couple of unenthusiastic picks this time around.
I’m going to take a small position in Barrett Business Services Inc. (BBSI), which barely makes it onto my screen and looks really boring–but sometimes you can make money with boring.
I decided to also put some what-the-heck money into Winnebago Industries, Inc. (WGO), also because it made the screen. Do people really still buy recreational vehicles? Winnebago is the leading brand of them, as far as I know. Maybe they’ve started making “hybrids” (?), because I thought these things got about 5 miles to the gallon and thus just don’t make sense at all–but the stock has been doing okay the last little while. Is it because We Boomers are prematurely senile and forgot we have a fuel crisis? Hey, I’d personally like to have one, but what with costing so much to buy and with the fact that I’d have to leave it parked in my driveway unless I went back into the work force…I just don’t know who is crazy enough to buy these things. Oh, yeah–me, I guess. Because I just bought a bunch of their stock and I can’t even “drive that around to visit the grandkids”…
[EDIT: I wrote this post a couple of days ago, aware that I would be traveling yesterday and unable to actually consummate my purchases until today. Turns out that BBSI plunged 34% yesterday and I dodged a bullet. I ended up buying it anyway–the PE ration is even better–but only half as much, since a plunge like that is “nervous-making”…]
September 18, 2014
Well, after a dearth of picks the last time I looked (August 27th), I found several this time around:
First up, I’ll be taking a half (limited confidence) position in both JMP Group Inc. (JMP), which is in the investment banking industry, and REX American Resources Corporation (REX), which is in the ethanol business, and which I actually purchased once before a couple of years ago, although I don’t recall how I did–I think pretty well.
I’m also going to take a full position in Alaska Air Group, Inc. (ALK), hoping to be able to get cheap airplane tickets to go watch the next Palin family brawl.
August 27, 2014
I think I’ve only done this once before, but…
Sitting it out for a few weeks.
Nothing showed up on my screen that I want to buy.
I’m just going to hold on to what I’ve got.
Call it My August Vacation, I guess.
August 6, 2014
Ouch! Taking a hit lately, but I keep on plugging.
Today I have two selections: Appliance Recycling Centers of America Inc. (ARCI), which apparently recycles appliances. A noble pursuit.
And BBVA Banco Franc (BFR), which provides financial services in Argentina–to the extent that Argentina HAS “financial services”. They defaulted a week ago and their market tumbled some 8%–making this a fairly risky pick, as so many of mine are.
The market is a little nervous-making these days, so…Good Luck!!
July 17, 2014
I’m going to jump back into AmTrust Financial Services, Inc. (AFSI), which I bought in July, 2010, and sold a couple of years later, pretty much doubling my money. It has kept running up (me missing most of it) and now is back on my screen, so I guess I’ll try, try again.
June 25, 2014
Just one pick this time around: Modine Manufacturing Company (MOD).
They manufacture “heat exchangers” for vehicles.
Anyway, they have a really low P/E ratio–which I always like, although that can also be a sign of something…wrong.
So, good luck!
And Happy Investing!
June 4, 2014
Three picks today–I’ll be taking positions in each one. First up is Omega Protein Corporation (OME), which makes–you guessed it–food supplements featuring Omega-3 fish oil. Good for your heart AND (hopefully) for your portfolio.
My second pick is Moneygram International Inc. (MGI), which is in the money
laundering transfer business. They’ve been around since 1926 (old school) but are apparently dabbling a bit in “Bitcoin”. I would generally run away screaming from anything “Bitcoin”, but I don’t think the company actually speculates in those silly things themselves, but might make their transfer possible. Don’t know. (Today’s primary investment tip: “Run away screaming from anything ‘Bitcoin’!”)
And lastly, I’ll be taking a position in Warren Resources Inc. (WRES), as I think I’m a little light in the oil industry and this one looks interesting. (Today’s secondary investment tip: “Don’t confuse fish oil with petroleum oil!”)
May 14, 2014
I’m revisiting an old Chinese stock I purchased back in 2008 and quadrupled my money in. For want of finding anything better, I’m going to get back in on China Automotive Systems Inc. (CAAS).
This despite having recently lost my shirt on another Chinese stock recommended here about a year ago which recently had its trading suspended: Lihua International, Inc. (LIWA). According to a recent story about that stock, the company “…made false and/or misleading statements and/or failed to disclose that: (i) the Company underwent a significant downturn in its business beginning in late 2012; (ii) the production activities of Lihua decreased in 2013 and nearly stopped after January 31, 2014; (iii) the Company’s warehouse was seized by a court in the People’s Republic of China; and (iv) one of the defendants is being investigated by Chinese police for larceny after attempting to move inventory.” Ouch!
Better luck this time.