Boring Portfolio

Boring Portfolio Report
Thursday, April 4, 1996

By Bob Lukas (MF Dogwind)

PLEASANTON, CA, April 4, 1996 -- Greg Markus (MF Boring) has recruited yet another Michigander to guest host his Borefolio writeup today. Unlike most Michiganians I had the foresight to become a native Californian and in the spirit of my task I write this report from a recently opened Borders Bookstore out this way, (one of the Boring Portfolio-BGP). By the way, does everyone realize that, in addition to his professorial and investment skills, MF Boring is a triathlete? One can only hope he is out this week winning whatever Buns-of-Steel competition he sets his mind to! Good Luck Greg!

As I sip on my Cappuzingo, looking around at folks in the coffee shop area who are reading magazines they will dog-ear but probably never buy, I contemplate the day. I'm the guest host while Johnny's gone! But where is Doc and Ed? Instead of going with Leno he goes with a guy named Dogwind?!?! Math professors making pipe bombs?!?!

And, so, you see, caffeine and trendy bookstores do that sort of thing to me.

So I hop in my trusty Chrysler and shoot back home to check the stats.

Borders, a solid performer for Boring, shaves off an 1/4 point, no news today, however they did announce a new Boston store yesterday.

Lam Research continues its slow vibration in the mid 30's, finishing up 1/4 today. The company, located in Fremont, CA is now that city's largest employer and personal observations by this reporter continue to see it busy-busy-busy. The worst performer in the Borefolio at this point, many semiconductor investors remember the salad days of the stock's run to 60-70 last year (I have the buy confirmations if anybody wants to see them!), and we all look forward to the day when the market fairly values the company back to those levels. No news today.

Green Tree Financial was down 3/8 on no news, PMSI finished the day asking at 13 3/4 (its 52 week high!), TXI inched up 1/2 point, and LCSI, the latest horse in the stable, had its reins pulled back a 1/4 point (gotta talk to that jockey). None of these issues produced news. The portfolio gave up .10% today next to an even S&P and a .2% advancing NASDAQ. No big whoop.

Seems like the only news today is my cup of coffee at Borders. Unabomber-Schmoonabomber, what about that Iomega?

Transmitted: 4/4/96

BGP -   1/4 ...GNT -   3/8 ...LRCX +   1/4 ...
LCSI -   1/4 ...PMSI +   1/8 ...TXI +   1/2 ...

                   Day   Month    Year  History
        BORING   -0.10%   1.63%   0.06%   0.06%
        S&P 500  -0.00%   1.60%   5.51%   5.51%
        NASDAQ   +0.21%   1.53%   7.42%   7.42%

    Rec'd  #   Security     In At       Now    Change

   3/8/96 400 Prime Medic    10.07     13.50    34.06%
  2/28/96 200 Borders Gro    22.51     28.00    24.39%
  1/29/96 100 Texas Indus    54.52     66.38    21.74%
   2/2/96 200 Green Tree     30.39     34.63    13.95%
  3/25/96 200 LCS Industr    26.14     24.00    -8.19%
  2/23/96 100 Lam Researc    48.02     35.50   -26.07%

    Rec'd  #   Security      Cost     Value    Change
  2/28/96 200 Borders Gro  4502.49   5600.00  $1097.51
   2/2/96 200 Green Tree   6077.49   6925.00   $847.51
  3/25/96 200 LCS Industr  5227.49   4800.00  -$427.49
  2/23/96 100 Lam Researc  4802.49   3550.00 -$1252.49

   3/8/96 400 Prime Medic  4027.49   5400.00  $1372.51
  1/29/96 100 Texas Indus  5449.99   6637.50  $1187.51

                             CASH  $17117.60
                            TOTAL  $50030.10