Boring Portfolio

Boring Portfolio Report
Wednesday, December 24, 1997
by Greg Markus (TMFBoring@aol.com)


ANN ARBOR, Mich. (Dec. 24, 1997) -- No Santa Claus rally this year. The Nasdaq and S&P 500 each closed down about 0.7% in a shortened Christmas Eve trading session. U.S. equities markets will be closed tomorrow and open only until 1 p.m. EST on Friday.

The Boring Portfolio slipped nominally lower, -0.21%, as Borefolio losers outnumbered winners five to three.

Shares of Tidewater (NYSE: TDW) rebounded $2 3/16 after selling off Tuesday when Salomon Smith Barney trimmed its fiscal 1998 (ending in March) and fiscal 1999 earnings projections. Perhaps some traders noticed today that SSB's revisions merely brought its estimates from the high-end of the range (according to First Call) down to numbers that were more in line with consensus projections.

Cisco Systems (Nasdaq: CSCO) bucked the Nasdaq trend, rising $1/8. Green Tree Financial (NYSE: GNT) grew $1/4.

Carlisle Companies (NYSE: CSL) eased $1/4 in moderate trading. I won't even try to make sense of that. This Syracuse, NY-based manufacturer of everything from lawn mower tires to melamine dishware to roofing supplies has virtually no exposure to Asian economic woes, the company reliably cranks out sales and earning gains comfortably above management's stated target of 15% annual growth, and the stock is trading at discount to the market multiple.

Carlisle's Website contains a wealth of information aboumance. You might also want to review a summary of the company's most recent conference call, here in The Motley Fool.

Stocks of retailers continued to soften as most industry pundits are concluding that holiday sales are coming in somewhat below expectations. Borders Group (NYSE: BGP) fell $11/16. Speaking of retailers, I know one guy who has still not finished his Christamas shopping. And since some of the stores I need to visit are closing early today, I'm going to wrap this recap up, wish you a happy holiday, and hit the streets.

See you Friday.

Do your Foolish gift shopping now, in time for the Holidays. And consider the Fool's Industry Focus '98 book -- to learn not only about industry-leading stocks, but about the industries in which they operate as a whole -- and see which one company in each industry that our news and analysis team favors most.


TODAY'S NUMBERS
Stock  Change    Bid
CGO   -  3/16  22.25
BGP   -  11/16 29.44
CSL   -  1/4   40.13
CSCO  +  1/8   51.50
FCH   -  1/16  36.06
GNT   +  1/4   25.25
PMSI  -  1/8   12.63
TDW   +2 3/16  50.50

                   Day   Month    Year  History
        BORING   -0.21%  -8.18%   3.68%  19.30%
        S&P:     -0.68%  -2.38%  25.91%  50.04%
        NASDAQ:  -0.69%  -6.31%  16.15%  44.05%

    Rec'd   #  Security     In At       Now    Change
  2/28/96  400 Borders Gr    11.26     29.44   161.52%
  8/13/96  200 Carlisle C    26.32     40.13    52.42%
  6/26/96  150 Cisco Syst    35.93     51.50    43.32%
   3/8/96  400 Prime Medi    10.07     12.63    25.39%
 12/23/96  100 Tidewater     46.52     50.50     8.54%
   3/5/97  150 Atlas Air     23.06     22.25    -3.51%
  11/6/97  200 FelCor Sui    37.59     36.06    -4.06%
   2/2/96  200 Green Tree    30.39     25.25   -16.91%

    Rec'd   #  Security     In At     Value    Change
  2/28/96  400 Borders Gr  4502.49  11775.00  $7272.51
  8/13/96  200 Carlisle C  5264.99   8025.00  $2760.01
  6/26/96  150 Cisco Syst  5389.99   7725.00  $2335.01
   3/8/96  400 Prime Medi  4027.49   5050.00  $1022.51
 12/23/96  100 Tidewater   4652.49   5050.00   $397.51
   3/5/97  150 Atlas Air   3458.74   3337.50  -$121.24
  11/6/97  200 FelCor Sui  7518.00   7212.50  -$305.50
   2/2/96  200 Green Tree  6077.49   5050.00 -$1027.49

                             CASH   $6427.47
                            TOTAL  $59652.47