Boring Portfolio Report
Tuesday, February 20, 1996
(FOOL GLOBAL WIRE)
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.
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