The Daily Workshop Report
by Robert Sheard (TMF Sheard)

LEXINGTON, KY. (July 2, 1997)  Surprising virtually no one today, the Federal Reserve Open Market Committee brought no change in short-term interest rate policy. Given the short holiday week and the fact that most analysts believed the Fed would sit tight, there wasn't much of an immediate reaction, although the Dow gained ground gradually for the last hour and a half of trading.

Changing topics, I must correct something I mentioned here yesterday. In listing the "opening" values for my Sheard Blue Chip Fund for the next year, I made three errors. (I developed a cool spreadsheet to update the prices automatically for me, but I forgot to include these three stocks on the master list so the values it generated for these stocks were meaningless.)

The correct initial prices should read:

WAL-MART (WMT) $33 13/16
ELI LILLY (LLY) $109 5/16
PROCTER & GAMBLE (PG) $141 1/4

And one final note: tomorrow's trading session marks the end of the first half-year for the Growth screens in our Workshop. Using the figures from tomorrow's close and Value Line's new rankings this weekend, we'll have a slew of new portfolio holdings to check out. For the next month, the monthly, quarterly, and semi-annual portfolios will all hold the same stocks, of course, with July being the first month of all of those periods, but beginning next week, you should see different year-to-date return figures for each of the holding periods since none of them is any longer identical. Fool on!

Monthly Growth Screens
(Jan. 3 to present)
34.36%  Relative Strength  
20.85%  S&P 500 Index  
14.54%  Low Price/Sales  
 5.29%  Unemotional Growth  
 2.68%  Investing for Growth  
-4.17%  YPEG Potential  
-8.30%  EPS Plus RS  
-17.70%  Formula 90  

Annual Value Screens
(Jan. 1 to present)
20.89%  Dow Jones Ind Avg  
18.40%  Dogs of the Dow  
15.26%  Beating the S&P  
11.16%  Unemotional Value  
11.16%  Beating the Dow  
 9.30%  Dow Combo  
 3.60%  Foolish Four