Boring Portfolio Report
ANN ARBOR, Mich. (Dec. 23) -- It appears there were relatively few
buyers in the stock market today -- just as in many retail stores this past
week-end. The Dow managed a narrow 5 point gain, but the S&P 500 lost
2 (-0.26%) and the Nasdaq fell 9 (-0.70%) as computer makers and networking
stocks got hit good and hard.
The Boring Portfolio managed to do slightly worse yet, falling 0.80% in net
asset value.
Cabletron Systems reported quarterly earnings that merely matched analysts'
expectations. You know what that means. Blammo, Christmas or no Christmas
-- down $4 3/8. The repercussions sent anything in the neighborhood tumbling
into the street, including our Cisco Systems. Cisco slid $5/8 today, which
put it among the least hard-hit in the group. Thank goodness for small favors.
Box-makers like Dell, Compaq, and Gateway got knocked around, as well. That
didn't help shares of Solectron, which lost two bucks on volume barely above
100,000 shares.
Oracle got hit, too, losing $7/8. That despite (or because of?) news from
the company that Jack Kemp had rejoined the board of directors. Said the
former GOP Veep candidate, "Oracle is not only a leader in their industry,
but is also one of the visionary companies driving the new information age."
Well, you got that right, Jack.
Borders Group dropped $3/8, too. Preliminary reports from the retail front
indicate that Christmas sales were "good," but probably not up to the 10%
gains over last year that shopkeepers were hoping for. So says Britt Beemer,
chairman of America's Research Group. Could be, but I was doin', uh. "research"
in two Borders this past week-end -- the Mother Church store here in Ann
Arbor and the beauty on the Magnificent Mile in Chicago -- and both places
were jammed.
Green Tree Financial lost a buck today, too, because ... well, actually I
have no idea why.
Believe it or not, not everything Boring lost ground today. Prime Medical
managed a $1/8 gain, and Oxford Health rose a full dollar. Carlisle Companies
was unchanged at $58 3/8.
I added 100 shares of Tidewater Inc. to the Borefolio today, and the stock
is already pulling its share of the load. TDW closed at $46 5/8, or 3/8 higher
than where I made the buy this morning. With transaction fees factored in,
TDW's $10.01 in the black -- as in crude oil.
Remember: the stock markets close at 1 p.m. EST tomorrow. That'll give you
bags of time to get your shopping done.
Monday, December 23, 1996
Stock Change Bid
--------------------
BGP - 3/8 35.00
CSL --- 58.38
CSCO - 5/8 64.38
GNT -1 38.25
ORCL - 7/8 42.38
OXHP +1 58.50
PMSI + 1/8 11.25
SLR -2 53.50
TDW + 3/64 46.63
Day Month Year History
BORING -0.80% -3.92% 15.05% 15.05%
S&P 500 -0.26% -1.33% 20.16% 20.16%
NASDAQ -0.70% -1.02% 22.91% 22.91%
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 38.25 25.87%
5/24/96 100 Oxford Hea 48.02 58.50 21.81%
6/26/96 100 Cisco Syst 53.90 64.38 19.43%
3/8/96 400 Prime Medi 10.07 11.25 11.73%
8/13/96 100 Carlisle C 52.65 58.38 10.87%
12/23/96 100Tidewater I 46.52 46.63 0.22%
10/15/96 100 Solectron 54.52 53.50 -1.88%
11/21/96 100 Oracle Cor 48.65 42.38 -12.90%
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 7650.00 $1572.51
6/26/96 100 Cisco Syst 5389.99 6437.50 $1047.51
5/24/96 100 Oxford Hea 4802.49 5850.00 $1047.51
8/13/96 100 Carlisle C 5264.99 5837.50 $572.51
3/8/96 400 Prime Medi 4027.49 4500.00 $472.51
12/23/96 100Tidewater I 4652.49 4662.50 $10.01
10/15/96 100 Solectron 5452.49 5350.00 -$102.49
11/21/96 100 Oracle Cor 4864.99 4237.50 -$627.49
CASH $5999.08
TOTAL $57524.08
Transmitted: 12/20/96