Boring Portfolio

Boring Portfolio Report
Wednesday, January 15, 1997
by Greg Markus (MF Boring)

ANN ARBOR, Mich. (Jan. 15) -- The Dow lost 35 points Wednesday (-0.52%), breaking a four-session winning streak. NYSE volume was, once again, well in excess of a half-billion shares. The S&P 500 fell 0.21%, while the Nasdaq lost 13 points -- nearly a full percentage point in value -- hurt by a "sell on the news" unwinding of Intel (Nasdaq: INTC) stock. Nasdaq volume approached 700 million shares. Wow.

The Boring Portfolio lost 0.55% in net asset value. Five holdings fell -- including the three "tech" holdings of Cisco, Oracle, and Solectron -- while four advanced.

Shares of Oxford Health Plans (Nasdaq: OXHP) recovered partially from the two-day sell-off sparked by news that the Clinton Administration would seek to trim reimbursements to HMOs that enroll Medicare recipients. I tried again to reach the company for a comment today, without success.

Green Tree Financial (NYSE: GNT) shares recovered a bit today, as well. The company will be reporting its fourth quarter results on the morning of Monday, Jan. 27. Analysts are looking for per-share earnings of $0.55. The Motley Fool will be covering the conference call.

Reports of continued strength among oilwell drillers and service companies presumably helped boost the stock of Tidewater (NYSE: TDW) today. TDW surged above the $50 mark during the session, settling at $49 3/4, up seven-eighths. Tidewater will be reporting its fiscal third quarter results on the morning of Tuesday, Jan. 21 -- and, yup, we'll be covering that conference call, too.

With all the recent action in Oxford, Green Tree, and a few other holdings, I've not had space to update some of the more sleepier stocks in the Borefolio, such as, uh, Cisco Systems (Nasdaq: CSCO).

Today, Cisco lost a bit of Tuesday's $2 /78 advance to an all-time high, but the stock remains nicely above the $70 mark. You may remember that a few weeks ago, Cisco issued a press release describing the company's plans to develop a low-end Internet/intranet product (incorporating a Zip drive as the storage device, no less) for use in customer-service kiosks, perhaps.

Since then, Cisco's issued a few additional press releases along the related lines, the most recent of which is an announcement today that Cisco and Hewlett-Packard (NYSE: HWP) will jointly develop "Internet-ready networked-computing solutions to maximize the benefits of combining networking and computing." The plan is to offer a ready-to-use package for Windows NT and UNIX operating environments. According to the press release, the product focus will include "critical business applications, such as intranets, electronic commerce, databases and messaging."

I guess when Cisco says they offer complete end-to-end solutions for internetworking, they're not kidding. Will we next hear that Cisco is partnering with Herman Miller to offer Cisco desks and chairs as part of their internetworking packages?

Today's Numbers


Stock  Change    Bid
--------------------
BGP   -  5/8   37.00
CSL   +1 1/8   61.25
CSCO  -1 5/8   70.38
GNT   +  3/4   36.13
ORCL  -1 7/8   41.25
OXHP  +  7/8   53.38
PMSI  -  3/8   11.63
SLR   -1 1/8   55.75
TDW   +  7/8   49.75
                   Day   Month    Year  History
        BORING   -0.51%   1.59%   1.59%  16.90%
        S&P 500  -0.21%   3.58%   3.58%  23.43%
        NASDAQ:  -0.94%   3.31%   3.31%  28.12%

    Rec'd   #  Security     In At       Now    Change

  2/28/96  200 Borders Gr    22.51     37.00    64.35%
  6/26/96  100 Cisco Syst    53.90     70.38    30.57%
   2/2/96  200 Green Tree    30.39     36.13    18.88%
  8/13/96  100 Carlisle C    52.65     61.25    16.33%
   3/8/96  400 Prime Medi    10.07     11.63    15.46%
  5/24/96  100 Oxford Hea    48.02     53.38    11.14%
 12/23/96  100 Tidewater     46.52     49.75     6.93%
 10/15/96  100 Solectron     54.52     55.75     2.25%
 11/21/96  100 Oracle Cor    48.65     41.25   -15.21%

    Rec'd   #  Security     In At     Value    Change

  2/28/96  200 Borders Gr  4502.49   7400.00  $2897.51
  6/26/96  100 Cisco Syst  5389.99   7037.50  $1647.51
   2/2/96  200 Green Tree  6077.49   7225.00  $1147.51
  8/13/96  100 Carlisle C  5264.99   6125.00   $860.01
   3/8/96  400 Prime Medi  4027.49   4650.00   $622.51
  5/24/96  100 Oxford Hea  4802.49   5337.50   $535.01
 12/23/96  100 Tidewater   4652.49   4975.00   $322.51
 10/15/96  100 Solectron   5452.49   5575.00   $122.51
 11/21/96  100 Oracle Cor  4864.99   4125.00  -$739.99

                             CASH   $5999.08
                            TOTAL  $58449.08