Dec 16, 1999 at 12:00AM
The last buy that we made took place in February of this year, when we bought eBay (Nasdaq: EBAY). Before that, we bought Amgen (Nasdaq: AMGN) and Excite@Home (Nasdaq: ATHM) in December of last year. Living in exciting times, with rules getting broken left and right, we have been active for a long-term portfolio.
Today, we announce that in the next five business days, we will invest approximately $50,000 in the company of PE Celera Genomics (NYSE: CRA), better known as simply -- Celera.
$50,000 is, incidentally, the same amount of money that this portfolio launched with in August of 1994. A single outside dollar has never been added to the port, and yet we're now able to invest $50,000 in a single stock alone -- and we need to buy that much in order to make the new holding a significant percentage (6%) of the total portfolio.
The funds to buy Celera are arriving from three places: we are announcing the sale of all of our remaining stake in Iomega (NYSE: IOM), all of our stake in 3dfx (Nasdaq: TDFX), and $32,000 of our stake (about 9%) in America Online (NYSE: AOL). As our sell report on AOL will remind you, this is the third time that we will sell a portion of our AOL stock in order to buy a new Rule Breaker.
Linked here, the buy and sell reports tell the story:
Rule Breaker buying Celera
Rule Breaker selling Iomega
Rule Breaker selling 3dfx
Rule Breaker selling a portion of America Online
Until tomorrow, we'll see you on the message boards. Fool on!
--Jeff Fischer, TMF Jeff on the Fool boards
Jeff Fischer (TMFFischer) is advisor at Motley Fool Pro and co-advisor at Motley Fool Options.
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