Boring Portfolio Report
ANN ARBOR, Mich. (Sept. 13) -- The Boring Portfolio gained "only" 1.03% in
value today, well behind the S&P 500's 1.40% advance and the Nasdaq's
1.96% leap. But when today's gain is plopped on top of what's been a super
five days for the Borefolio, I can't complain. This past week, the Boring
Portfolio rose 5.85% in net asset value, as compared with 4.33% for the Nasdaq
and 3.79% for the S&P 500.
Not counting a few bucks of recent interest on our cash balance and any stray
dividend payments that haven't gotten tallied in yet, the Borefolio hit a
record high on this Friday the 13th: $56,520.63. That works out to a 13.04%
gain since the Borefolio purchased its first stocks on January 29 of this
year. That's appreciably better than the S&P 500 has performed over the
same period (as well as perhaps 90% of all mutual funds), but it still lags
the Nasdaq. I've still got a bit more than a quarter to remedy that before
the curtain falls on 1996.
As you've probably heard by now, this morning's Consumer Price Index report
reinforced the message of yesterdays' PPI numbers, i.e., ain't got no inflation
'round here. That was all that traders needed. The markets soared from the
opening bell. The Dow ended the session up 66 points, closed above the 5,800
mark for the first time in the history of the universe, and set a new high
of 5,838.52, beating the old high of 5,778.00 set May 22. Big board volume
was a hummim', thrummin' 487 million shares.
The S & P's closing value of 680.54 was a new high for that index, as
well. As for the Nasdaq, its 23-point gain to 1,189 still left it short of
its record of 1,249 set back on June 5.
The yield on the 30-year Treasury bond slipped beneath the 7% mark, helping
interest rate-sensitive stocks like Green Tree Financial, which gained $
3/4 on Friday.
Technology stocks were strong across the board, fueled by nice numbers from
Oracle Corp., encouraging words about IBM, USRX, and a host of other
techno-stocks, and Soundview Financial's anointment of the entire technology
sector with a ratings upgrade. Cisco galloped ahead $2 3/4 on massive volume
of 10.5 million shares.
Carlisle Companies and Prime Medical Services each returned a bit of their
recent gains, but both remained well ahead of where they started the week.
Those small losses on the day were more than countered by gains by Shaw Group
(up *another* $1 5/8), Oxford Health Plans, and the Boring Spiders. TXI and
Borders were "unch" on Friday.
There was no specific news on any Borefolio holdings today. Which is just
as well. I'm going out and celebrate. Nice week, new record, great stocks
of great companies.
I'm outta here! Do enjoy the week-end.
Transmitted: 9/13/96
Friday, September 13, 1996
BGP ---...CSL - 1/2 ...CSCO +2 3/4 ...GNT + 3/4 ...OXHP + 3/8 ...
PMSI - 1/4 ...SHAW +1 5/8 ...SPY +1 1/64...TXI ---...
*Scroll down or expand screen for full portfolio accounting
Day Month Year History
BORING +1.03% 4.77% 13.04% 13.04%
S&P 500 +1.40% 4.38% 9.48% 9.48%
NASDAQ +1.96% 4.13% 14.19% 14.19%
Rec'd # Security In At Now Change
4/12/96 100 The Shaw Gr 18.84 32.25 71.16%
2/28/96 200 Borders Gro 22.51 35.00 55.47%
3/8/96 400 Prime Medic 10.07 13.00 29.11%
2/2/96 200 Green Tree 30.39 37.00 21.76%
1/29/96 100 Texas Indus 54.50 63.88 17.20%
6/26/96 100 Cisco Syste 53.90 58.88 9.23%
7/23/96 100 S&P Deposit 64.15 68.55 6.85%
8/13/96 100 Carlisle Co 52.65 54.63 3.75%
5/24/96 100 Oxford Heal 48.02 46.75 -2.65%
Rec'd # Security Cost Value Change
2/28/96 200 Borders Gro 4502.49 7000.00 $2497.51
4/12/96 100 The Shaw Gr 1884.16 3225.00 $1340.84
2/2/96 200 Green Tree 6077.49 7400.00 $1322.51
3/8/96 400 Prime Medic 4027.49 5200.00 $1172.51
1/29/96 100 Texas Indus 5449.99 6387.50 $937.51
6/26/96 100 Cisco Syste 5389.99 5887.50 $497.51
7/23/96 100 S&P Deposit 6414.99 6854.69 $439.70
8/13/96 100 Carlisle Co 5264.99 5462.50 $197.51
5/24/96 100 Oxford Heal 4802.49 4675.00 -$127.49
CASH $4428.44
TOTAL $56520.63