DUG (long) 1000 shares @ cost basis of 24.25
AMZN (short) 4500 shares @ cost basis of $63
AAPL (short) 2000 shares @ cost basis of $98.73
GS (short) 2000 shares @ cost basis of 92.25
CPKI (short) 8000 shares @ cost basis of $11.25
XOM (short) 3000 shares @ cost basis of 81.25
STC (short) 2000 shares @ cost basis 14.64
YHOO (short) 10,000 shares @ cost basis of 12.46
BBY (short) 2000 shares @ cost basis of 28.50
BBBY (short) 3000 shares @ cost basis of $25.56
HOTT (short) 3000 shares @ cost basis of 9.20
V (short) 2000 shares @ cost basis of 54.75
NTRS (short) 2000 shares @ cost basis of 59.50
Phil, not to pry too much, buy I see quite a mix of stocks in there from various sectors. What is your approach to sector allocation? Anything formal?
The reason I ask is that your risk/reward/targets/stop comments have helped me understand your approach for each stock. Backing up a bit, I am wondering what kind of overall approach you use.
Gestumble, nothing formal. My allocation method is discretionary.I've obviously leaned on the short side here, which is by no means a conservative approach to investing. I've also picked stocks intrinsically overvalued. I suppose I do try to scatter my picks across different sectors in order to diversify my exposure to industries (ie, restaurants, tech, traditional retail, oil, etc).
Hey Mr. Phil,
Just got out of a meeting and I took a quick look at your portfolio. It looks like you made right around $60k today. Correct? Awesome and congrats. Me too.
I did cover around 10% of my portfolio but I think there is more pain in the market to come.
Talk to you guys later.
I find myself hard to do any real "work" today and glued to the net and my positions...haha...I have already called my husband to tell him to expect some new jewelry charges on this month's credit cards (AMEX, NOT MA)!!
agreed totally...some of them may have to go "away" or be nationalized, unfortunately...in the meantime, I guess we have no choice but to do our American duty and make as much money as possible with this current messed up economic situation without committing any crimes.