Boring Portfolio Report
Friday, May 30, 1997
by Greg Markus (TMF
Boring)
TRAVERSE CITY, Mich. (May 30, 1997) -- Man, it's tough being up here in a beautiful setting yet stuck in meetings from 8 in the morning 'til 6 at night. Let's see here.... I'll just check how stock's did, click out a quick recap of this day and week for the Boring Portfolio, and then it's Miller Time. Hmm. Dow essentially unchanged... S&P up a bit... Nasdaq down a bit. Must've been an uneventful day.
Hello? What's this? Nasdaq off 50-some points in the morning? Dow off 88?? Mamma mia. Looks like a good day to have been out of the loop!
Now let's check the Borefolio.... Up 1.20% or the day -- a $1/4 dip for ORACLE (Nasdaq: ORCL) being the sole loser. Cool! And up 1.35% for the week to best the benchmark averages. And +10.39% for May, with just four down-sessions the entire month. And an all-time high in net asset value: $61,103.54! Very nice.
Other than reciting that string of happy stats, I see precious little in the way of Boring news to report. Credit Suisse First Boston initiated coverage of CISCO SYSTEMS (CSCO) with a "buy" rating. Cisco will present at PaineWebber's 8th Annual Aggressive Growth & Technology Conference in New York next Wednesday, Grand Hyatt, 9am. The stock gained $3/4 Friday. Other than that, basically zippo.
OXFORD HEALTH PLANS (Nasdaq: OXHP) soared $5 1/8 to an all-time high of $70 1/4 (bid). Yet not a word on the wires, save for a story asserting that "HMO stocks rise as investors seek a safe haven...." Whoever wrote that story plainly isn't an Oxford Health shareholder. Oxford's an outstanding company, and the stock's been a rocket, for years. But "safe haven?" Only if your boat's equipped with outriggers to ride out the swells. On the other hand, perhaps OXHP is a "safe haven" after all, in the sense that it's a safe bet that a year from now the stock will be even higher than it is today.
In any event, I suspect Friday's surge in HMO stocks had more to do with the vicissitudes of Medicare politics in Washington than with any run to safe havens during an INTEL (Nasdaq: INTC) -initiated storm. Speaking of which, the storm clouds have cleared over Grand Traverse Bay. I think I'll go seek a safe haven of my own.
Have a great week-end, folks. I'll see you back here on Monday.
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Stock Change Bid ATLS + 3/4 28.50 BGP + 1/8 21.75 CSL --- 30.50 CSCO + 3/4 67.50 GNT + 1/8 35.25 ORCL - 1/2 46.63 OXHP +5 1/8 70.25 PMSI --- 11.13 TDW --- 42.13
Day Month Year History
BORING +1.20% 10.39% 6.04% 22.03%
S&P: +0.50% 5.83% 14.45% 36.29%
NASDAQ: -0.19% 11.10% 8.49% 34.59%
Rec'd # Security In At Now Change
2/28/96 400 Borders Gr 11.26 21.75 93.23%
5/24/96 100 Oxford Hea 48.02 70.25 46.28%
6/26/96 100 Cisco Syst 53.90 67.50 25.23%
3/5/97 150 Atlas Air 23.06 28.50 23.60%
2/2/96 200 Green Tree 30.39 35.25 16.00%
8/13/96 200 Carlisle C 26.32 30.50 15.86%
3/8/96 400 Prime Medi 10.07 11.13 10.49%
11/21/96 100 Oracle Cor 48.65 46.63 -4.16%
12/23/96 100 Tidewater 46.52 42.13 -9.46%
Rec'd # Security In At Value Change
2/28/96 400 Borders Gr 4502.49 8700.00 $4197.51
5/24/96 100 Oxford Hea 4802.49 7025.00 $2222.51
6/26/96 100 Cisco Syst 5389.99 6750.00 $1360.01
2/2/96 200 Green Tree 6077.49 7050.00 $972.51
8/13/96 200 Carlisle C 5264.99 6100.00 $835.01
3/5/97 150 Atlas Air 3458.74 4275.00 $816.26
3/8/96 400 Prime Medi 4027.49 4450.00 $422.51
11/21/96 100 Oracle Cor 4864.99 4662.50 -$202.49
12/23/96 100 Tidewater 4652.49 4212.50 -$439.99
CASH $7788.54
TOTAL $61013.54
