Boring Portfolio Report
ANN ARBOR, Mich. (Nov. 18) -- Wonder of wonders, the Dow actually failed
to advance on Monday, the first time in 11 sessions. It didn't fall far,
though -- just a bit more than one point (-0.02%). The S&P 500 slipped
less than a point (-0.08%), while the Nasdaq's loss was more noticeable:
down 7.2, or -0.57%.
The Boring Portfolio lost $37.50 (-0.06%) in net value, not counting a few
bucks of accrued interest on the $15K sitting in a money market account.
The Borefolio incurred a $1 3/8 scissoring in Cisco and $7/8 bruising at
Borders. No news on either of those stocks, unless you count the story in
those morning's NY Times chronicling a tiff between Michael Moore (of "Roger
and Me" fame) and Borders.
It seems that Moore appeared recently at a Borders in Philly to autograph
copies of his latest best-seller, "Downsize This!" While there, he got himself
in the middle of a union organizing action at the store. Moore claims that
because of that, he's been banned from promoting his book at any Border's
nationwide. Borders denies it and insists they're "perplexed" at why Moore
would attack a company that has been so active in selling his book. Moore
says he's willing to take Borders at their word and resume his appearances
at the stores.
I like Moore -- I lived just south of Flint during the worst of the auto
industry downturn in the '80s, and his skewering of GM was right on target,
as far as I'm concerned. And I like Borders -- as does Moore, for that matter.
He called it "the best bookstore in America." I hope they've got things patched
up.
Oh, look! Prime Medical Services rose 7.5% today -- and on volume of 370,500
shares, no less -- to move back into the plus column for the Borefolio. Another
70% or so and the stock will be fairly valued, I reckon.
Green Tree Financial, which looked like it might have gone dormant during
the recent cold snap, perked up a bit on Monday, as well.
Lastly, I suspect that when I turn tonight to the Cisco folder in the Motley
Fool stock boards on AOL, I'll find a post or two worrying about whether
today's loss signals the beginning of a significant downturn in the stock.
My answer, of course, is ... I have absolutely no idea.
What I do know is that John Force, manager of the PBHG Technology and
Communications Fund, is right on the mark when he says (in the current issue
of "Barron's"), "I believe in the pipe."
No, he wasn't commenting on the passage of the medicinal marijuana proposition
in California. He was referring to communications bandwidth, the Internet,
networking -- stuff like that. Force continued, "As a result of the Internet,
we need more switches and more routers and more concentrators. The Internet
is not going away."
You won't be surprised to learn that John Force likes Cisco. A lot.
So do I.
Monday, November 18, 1996
Stock Change Bid
--------------------
BGP - 7/8 35.75
CSL + 1/8 55.38
CSCO -1 3/8 63.38
GNT + 1/4 39.88
OXHP - 1/4 53.13
PMSI + 3/4 10.88
SLR - 5/8 57.75
Day Month Year History
BORING -0.06% 3.09% 15.75% 15.75%
S&P 500 -0.08% 4.50% 18.56% 18.56%
NASDAQ -0.57% 2.71% 20.52% 20.52%
Rec'd # Security In At Now Change
2/28/96 200 Borders Gr 22.51 35.75 58.80%
2/2/96 200 Green Tree 30.39 39.88 31.22%
6/26/96 100 Cisco Syst 53.90 63.38 17.58%
5/24/96 100 Oxford Hea 48.02 53.13 10.62%
3/8/96 400 Prime Medi 10.07 10.88 8.01%
10/15/96 100 Solectron 54.52 57.75 5.91%
8/13/96 100 Carlisle C 52.65 55.38 5.18%
Rec'd # Security In At Value Change
2/28/96 200 Borders Gr 4502.49 7150.00 $2647.51
2/2/96 200 Green Tree 6077.49 7975.00 $1897.51
6/26/96 100 Cisco Syst 5389.99 6337.50 $947.51
5/24/96 100 Oxford Hea 4802.49 5312.50 $510.01
3/8/96 400 Prime Medi 4027.49 4350.00 $322.51
10/15/96 100 Solectron 5452.49 5775.00 $322.51
8/13/96 100 Carlisle C 5264.99 5537.50 $272.51
CASH $15435.93
TOTAL $57873.43
Transmitted: 11/18/96