Boring Portfolio

Boring Portfolio Report
Wednesday, October 22, 1997
by Greg Markus (TMFBoring@aol.com)


ANN ARBOR, Mich. (Oct. 22, 1997) -- The season's first snowflakes descended on Ann Arbor as I pedaled home from campus this afternoon. As if taking a cue from the weather in TreeTown, stocks drifted gently down today, as well. The S&P 500 and Nasdaq each lost about 4 points, which in percentage terms translates into a 0.39% decline for the S&P and a 0.26% drop in the Naz.

The Boring Portfolio lost 0.54% as the majority of its holdings shook off a few 'teenths and eighths on no particular news and in generally moderate trading.

After surging $3 1/4 in the wake of an impressive quarterly earnings report Tuesday, TIDEWATER (NYSE: TDW) receded $5/8 today. A summary of the company's quarterly teleconference is provided in the Conference Call section of The Motley Fool.

Normally quiet CARLISLE COMPANIES (NYSE: CSL) made two announcements today. This morning, Carlisle announced it has signed a letter of intent to acquire Hardcast Europe of Weesp, Netherlands. Privately-held Hardcast makes specialty adhesive and sealant products primarily for the European roofing and building trades. The company will become part of Carlisle SynTec, which manufactures adhesive and sealant products under the Hardcast name in the U.S. The acquisition will provide Carlisle with important access to new markets in Europe. Terms of the transaction, expected to close next month, were not disclosed.

A few hours later, Carlisle followed up by announcing it had sold its Braemar Inc. subsidiary to BioTel International Inc. Braemar, located in Burnsville, Minn. manufactures non-invasive medical recording and monitoring equipment. Terms of the transaction were, again, not disclosed.

Shares of Carlisle have risen more than 70% since the Borefolio acquired its stake in the Syracuse, NY-based diversified industrial company in August of last year.

The only other Borefolio holding gaining ground today was OXFORD HEALTH PLANS (Nasdaq: OXHP), up $3/16. The stock, which had been on a topsy-turvy ride for the past few weeks, set something of a record today by rising three sessions in a row. As noted here Monday, Oxford appears to have gained favor with traders following front-page news over the weekend reporting that most HMOs and health insurers expect to hike premiums by an average of 5%.

And now back to watching the snow fall.

Drip Portfolio -- Intel update and KO's earnings, part 1.
The Fool Portfolio -- Fool on a tear. Winning year.
Fool Message Boards -- What are Fools saying?
Evening News -- All the market news, early.
Daily Double
-- Egghead. No, not you.
Daily Trouble -- Right Mgmt.
Fool Four -- 23% annualized, historically


TODAY'S NUMBERS
Stock  Change    Bid
ATLS    ---    26.88
BGP   -  1/16  25.31
CSL   +  3/16  45.06
CSCO  -  3/8   83.94
GNT   -  13/16 48.00
ORCL  -  5/8   35.00
OXHP  +  3/16  73.19
PMSI  -  3/16  13.56
TDW   -  5/8   68.00
                   Day   Month    Year  History
        BORING   -0.54%   1.19%  28.59%  47.97%
        S&P:     -0.39%   2.24%  30.75%  55.80%
        NASDAQ:  -0.26%   1.33%  32.30%  64.09%


    Rec'd   #  Security     In At       Now    Change
  2/28/96  400 Borders Gr    11.26     25.31   124.88%
  8/13/96  200 Carlisle C    26.32     45.06    71.18%
   2/2/96  200 Green Tree    30.39     48.00    57.96%
  6/26/96  100 Cisco Syst    53.90     83.94    55.73%
  5/24/96  100 Oxford Hea    48.02     73.19    52.39%
 12/23/96  100 Tidewater     46.52     68.00    46.16%
   3/8/96  400 Prime Medi    10.07     13.56    34.70%
   3/5/97  150 Atlas Air     23.06     26.88    16.55%
 11/21/96  150 Oracle Cor    32.43     35.00     7.91%

    Rec'd   #  Security     In At     Value    Change
  2/28/96  400 Borders Gr  4502.49  10125.00  $5622.51
  8/13/96  200 Carlisle C  5264.99   9012.50  $3747.51
   2/2/96  200 Green Tree  6077.49   9600.00  $3522.51
  6/26/96  100 Cisco Syst  5389.99   8393.75  $3003.76
  5/24/96  100 Oxford Hea  4802.49   7318.75  $2516.26
 12/23/96  100 Tidewater   4652.49   6800.00  $2147.51
   3/8/96  400 Prime Medi  4027.49   5425.00  $1397.51
   3/5/97  150 Atlas Air   3458.74   4031.25   $572.51
 11/21/96  150 Oracle Cor  4864.99   5250.00   $385.01

                             CASH   $8028.59
                            TOTAL  $73984.84