Boring Portfolio Report
Friday, November 8, 1996

by Greg Markus (MF Boring)

BATTLE CREEK, Mich. (Nov. 8) -- Greetings from the land of Tony the Tiger, who's been anything but Gr-r-reat! lately, as Kellogg's share price continues to falter on concerns about pricing pressures -- but that's another story.

After being down a good part of Friday, the Dow managed to rise yet again. This time, it was a 14 point gain, which resulted in a new high of 6,219.82. The S&P 500 rose 3 (0.44%) and set its fourth consecutive new high, while the Nasdaq moved within a point its record high, set last month. For the week, the S&P rocketed 3.85%, with the Nasdaq right behind at +2.92%.

As for the Boring Portfolio, it suffered from a bit of, um, profit-taking today, losing 0.28%. Five stocks slipped fractionally, while Cisco and Green Tree Financial each gained an eighth. For the week, the Borefolio advanced 2.52%.

Altogether this was a busy week for Boring stocks. On Tuesday, while 49% of us were doing the voting thing at the polls, Cisco reported analyst-topping quarterly earnings of $0.47 per share, excluding extraordinary items. Then on Wednesday, Oxford Health posted its own upside surprise earnings, fueled by growing membership, lower internal costs, and higher profit margins. Oh, yeah: Clinton was re-elected, and the Congress remained in the hands of the GOP.

In contrast to all the razzmatazz earlier in the week, Friday was positively snoozy for Boring stocks. I could locate not a single news item about any of our holdings, and none of them moved very far, either up or down. Boring.

Next week, we've got Borders Group reporting third quarter earnings -- probably on Thursday. As usual, The Motley Fool will be covering the post-report teleconference. Analysts are expecting a nine cent loss for what is typically a weak quarter in the book biz. Much more of interest will be the company's early read on how the holiday season is shaping up.

I don't know what it's like your way, but around Michigan the Christmas lights and trimmings in the stores barely waited for the jock-o'-lanterns and black cats to come down. Hey, with Thanksgiving coming so late this month, retailers are taking no chances in getting shoppers in the right spirit, viz.: buy, buy, buy!

Let's see... what else can I tell you? Oh, a couple of days ago Carlisle Co. declared its regular quarterly dividend of $0.245, payable Dec. 1 to shareholders of record as of Nov. 18. That gives you few more days. Carlisle's kinda gotten lost in all the attention given to Oxford and Cisco (and PMSI) this week. Did you know the stock's gonna split before the year is out -- soon as the company gets authorization from shareholders?

Lastly, I self-consciously direct your attention to $15,435.93 in cash sitting in the Borefolio account. I sold some S&P Depository Receipts and shares of Texas Industries a couple of weeks ago, with the intention of backing away a bit from what I had estimated to be an overvalued market. TXI is still pretty much where I left it, but the S&P, of course, is not. In the next week or so, I'll revisit my decision and determine whether I want to add another Boring stock or two to the mix.

I hope your week-end is a peaceful and relaxing one. Just remember, as they say here in Battle Creek: breakfast is the most important meal of the day!

Transmitted: 11/8/96

Stock  Change    Bid
--------------------
BGP   -  1/8   35.00
CSL   -  3/8   55.88
CSCO  +  1/8   64.63
GNT   +  1/8   39.88
OXHP  -  5/8   52.25
PMSI  -  1/8   11.25
SLR   -  1/4   56.75

                   Day   Month    Year  History
        BORING   -0.28%   3.06%  15.72%  15.72%
        S&P 500  +0.44%   3.62%  17.57%  17.57%
        NASDAQ   +0.27%   2.95%  20.80%  20.80%

    Rec'd   #  Security     In At       Now    Change

  2/28/96  200 Borders Gr    22.51     35.00    55.47%
   2/2/96  200 Green Tree    30.39     39.88    31.22%
  6/26/96  100 Cisco Syst    53.90     64.63    19.90%
   3/8/96  400 Prime Medi    10.07     11.25    11.73%
  5/24/96  100 Oxford Hea    48.02     52.25     8.80%
  8/13/96  100 Carlisle C    52.65     55.88     6.13%
 10/15/96  100 Solectron     54.52     56.75     4.08%



    Rec'd   #  Security     In At     Value    Change

  2/28/96  200 Borders Gr  4502.49   7000.00  $2497.51
   2/2/96  200 Green Tree  6077.49   7975.00  $1897.51
  6/26/96  100 Cisco Syst  5389.99   6462.50  $1072.51
   3/8/96  400 Prime Medi  4027.49   4500.00   $472.51
  5/24/96  100 Oxford Hea  4802.49   5225.00   $422.51
  8/13/96  100 Carlisle C  5264.99   5587.50   $322.51
 10/15/96  100 Solectron   5452.49   5675.00   $222.51


                             CASH  $15435.93
                            TOTAL  $57860.93



Transmitted: 11/8/96