Boring Portfolio

Boring Portfolio Report
Monday, November 03, 1997
by Greg Markus (TMFBoring@aol.com)


ANN ARBOR, Mich. (Nov. 3, 1997) -- The sun rose over Kure Island at the western end of the Hawaiian Ridge to begin this first Monday of a new month. As the various land masses passed beneath it, the sun kissed each one, warming its people ... and their financial markets. The New Zealand, Australian, Japanese and Southeast Asian markets first. On to India, then Europe, and finally the eastern coast of the United States. No matter that it may have been cold, gray, and drizzly in many of those locales today. This was now November, and October was past.

Here in America, the S&P 500 soared 2.66% and the Nasdaq wafted 2.28%, albeit on something less than impressive trading volume. The Boring Portfolio continued its recovery, as well -- if at the only somewhat less heady pace of a 1.16% daily gain. Only a $1 3/8 decline by CARLISLE COMPANIES (NYSE: CSL), on no news, marring an otherwise perfect session for the Borefolio, as eight of nine holdings advanced.

Oil services stocks paced the market today, as conflicting information from Iraq and OPEC whipsawed oil futures prices. Those short-term dynamics aside, the energy industry faces a continuing squeeze for equipment and personnel, as detailed in a feature story in the Business section of Sunday's New York Times. TIDEWATER (NYSE: TDW) provides the Borefolio with exposure to that industry, and that stock picked up $2 to close at $67 11/16.

Financial stocks were also strong, and here the Borefolio relies upon GREEN TREE FINANCIAL (NYSE: GNT). The Tree did not fail us, as it grew $1 3/4 to $44.

PRIME MEDICAL SERVICES (Nasdaq: PMSI) issued a press release today publicizing the fact that the company made it into the Forbes list of 200 Best Small Companies in America. PMSI rose $1/4 on the bid in light trading.

Tuesday brings with it quarterly earnings reports from OXFORD HEALTH PLANS (Nasdaq: OXHP) and CISCO SYSTEMS (Nasdaq: CSCO). Oxford reports in the morning, and we'll be covering the follow-up conference call. perhaps as out of morbid curiosity as much as anything else. We haven't liquidated our 100 shares of OXHP yet but will do so by the close of business tomorrow. OXHP picked up $1/8 today.

Cisco reports after the close, and we're very much looking forward to hearing about the quarter just ended and, even more so, about the year ahead. CSCO rose $2 11/16.

As usual, The Motley Fool will provide you with a timely summary of both the Oxford and Cisco conference calls.


TODAY'S NUMBERS
Stock  Change    Bid
ATLS  +  5/8   28.25
BGP   +  1/16  26.00
CSL   -1 3/8   41.88
CSCO  +2 11/16 84.69
GNT   +1 3/4   44.00
ORCL  +  1/16  35.81
OXHP  +  1/8   25.94
PMSI  +  1/4   13.25
TDW   +2       67.69
                   Day   Month    Year  History
        BORING   +1.16%  -6.52%  18.78%  36.69%
        S&P:     +2.66%  -0.88%  26.76%  51.06%
        NASDAQ:  +2.28%  -3.30%  26.25%  56.58%

    Rec'd   #  Security     In At       Now    Change
  2/28/96  400 Borders Gr    11.26     26.00   130.98%
  8/13/96  200 Carlisle C    26.32     41.88    59.07%
  6/26/96  100 Cisco Syst    53.90     84.69    57.12%
 12/23/96  100 Tidewater     46.52     67.69    45.49%
   2/2/96  200 Green Tree    30.39     44.00    44.80%
   3/8/96  400 Prime Medi    10.07     13.25    31.60%
   3/5/97  150 Atlas Air     23.06     28.25    22.52%
 11/21/96  150 Oracle Cor    32.43     35.81    10.42%
  5/24/96  100 Oxford Hea    48.02     25.94   -45.99%

    Rec'd   #  Security     In At     Value    Change
  2/28/96  400 Borders Gr  4502.49  10400.00  $5897.51
  8/13/96  200 Carlisle C  5264.99   8375.00  $3110.01
  6/26/96  100 Cisco Syst  5389.99   8468.75  $3078.76
   2/2/96  200 Green Tree  6077.49   8800.00  $2722.51
 12/23/96  100 Tidewater   4652.49   6768.75  $2116.26
   3/8/96  400 Prime Medi  4027.49   5300.00  $1272.51
   3/5/97  150 Atlas Air   3458.74   4237.50   $778.76
 11/21/96  150 Oracle Cor  4864.99   5371.88   $506.89
  5/24/96  100 Oxford Hea  4802.49   2593.75 -$2208.74

                             CASH   $8028.59
                            TOTAL  $68344.22


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