Boring Portfolio

Boring Portfolio Report
Tuesday, February 20, 1996

by Greg Markus (MF Boring)

It was an ugly day for the stock market today, with sell-side collars snapped on the NYSE virtually from the get-go. Alan Greenspan spun his prose to the assembled adoring crowd in Congress in the afternoon, which helped things not a whit. (Actually, he had some interesting things to say for a change, but we can talk about that another time--I'm on deadline.)

There were various theories about why the market slid today, and why it began so early: rising interest rates, concerns about China or Japan, Pat Buchanan might win the GOP nomination and return the US to Smoot-Hawley tariffs, and so on. But I know the real reason. It was the PBS documentary that aired last night--the one about The Great Depression. Scary stuff. My theory is that today's event was a kind of financial variation of the radio-days panic inspired by Orson Welles's "Invasion from Mars.". (Well, perhaps not--but the PBS show sure gave *me* nightmares!)

On to our four stocks--and the less said, the better. Three of our four ponies stumbled out of the gate today. Green Tree wilted $1/8, Texas Industries lost $5/8, and noble Potash declined $2 3/8 (which is 3%). Only Kulicke & Soffa ceded no ground today--but gained none, either. K&S remains steadfast at 20 bucks a share.

Which reminds me: the big K&S dog, pony, and Turbo wire bonder show is tomorrow, just outside of Philadelphia. I hope to find out what happened and will report to you in this space tomorrow night.

Today's Moves

GNT - 1/8
KLIC ---
POT -2 3/8
TXI - 5/8

                   Day   Month    Year  History
        BORING   -0.65%   0.17%  -0.33%  -0.33%
        S&P 500  -1.13%   0.73%   3.06%   3.06%
        NASDAQ   -0.69%   2.21%   4.06%   4.06%

    Rec'd  #   Security     In At       Now    Change

  1/29/96 100 Texas Indus    54.52     61.25    12.34%
   2/9/96 100 Potash Corp    76.27     77.88     2.10%
   2/2/96 200 Green Tree     30.39     29.25    -3.74%
  1/29/96 200 Kulicke & S    23.89     20.00   -16.27%

    Rec'd  #   Security      Cost     Value    Change

  1/29/96 100 Texas Indus  5449.99   6125.00   $675.01
   2/9/96 100 Potash Corp  7627.49   7787.50   $160.01
   2/2/96 200 Green Tree   6077.49   5850.00  -$227.49
  1/29/96 200 Kulicke & S  4774.99   4000.00  -$774.99

                             CASH  $26070.04
                            TOTAL  $49832.54