Boring Portfolio

Boring Portfolio Report
Friday, November 28, 1997
by Greg Markus (TMF Boring@aol.com)


ANN ARBOR, Mich. (Nov. 28, 1997) -- U.S. stocks moved higher in very light trading on a holiday-shortened Friday. The S&P 500 and Nasdaq each gained about 0.4%. The Boring Portfolio -- mirabile dictu! -- actually outpaced the benchmark averages slightly, rising 0.46% with daily winners outnumbering losers five to four.

It was an entirely different story for the week, however. The S&P 500 and Nasdaq lost 0.80% and 1.25% respectively in the week just ended. As for the Borefolio, it belly-flopped -3.25%, owing largely to a wilting Green Tree Financial (NYSE: GNT, down $2 7/8 for the week, and an ebbing Tidewater (NYSE: TDW), down $4 11/16 for the week.

Green Tree recovered slightly on Friday, growing $1/4. According to fresh filings with the SEC (available online through Edgar) insiders purchased company stock in the days following Green Tree's now-notorious announcement on Nov. 13. A total of six officers, including President and COO Robert Potts and Director of Investor Relations John Dolphin, purchased a total of 23,000 shares in the low $30s between Nov. 17 and Nov. 21.

Tidewater, alas, continued lower on Friday (-$5/8) along with most stocks of oil drilling and service outfits. OPEC ministers are meeting through Saturday in Jakarta, and some traders may reduced their exposure to energy-related issues lest some news from the talks rattle them further. Whatever may happen to TDW in the short haul, though, the stock remains as one of the better values in the group, according to many industry experts.

On the upside, Oracle (Nasdaq: ORCL) rose $1/2. Oracle's founder and CEO is the subject of a new biography, The Difference between God and Larry Ellison: Inside Oracle Corporation, by Mike Wilson. (The title refers to a Silicon Valley joke, the punchline of which is, "God doesn't think he's Larry Ellison.") The book is reviewed in the new issue of Business Week.

I plan to head over to my local branch of Borders Group (NYSE: BGP) to snap up a copy... but not today, thanks. The crowds are just a bit too thick for this Boring shopper. Shares of Borders eased $1/8 Friday.

Cisco Systems (Nasdaq: CSCO) was the only Boring stock that rose on the week. The Kid picked up $1 3/16 Friday to close at a bid of $86 3/16. During the day, CSCO peaked at $86 13/16, an all-time high.

What better note on which to end the Borefolio recap than that? Enjoy the weekend.


TODAY'S NUMBERS
Stock  Change    Bid
CGO   -  1/4   26.38
BGP   -  1/8   28.56
CSL   +  7/8   42.50
CSCO  +1 3/16  86.19
FCH   -  1/8   36.31
GNT   +  1/4   30.63
ORCL  +  1/2   33.25
PMSI  +  1/8   13.25
TDW   -  5/8   56.06

                   Day   Month    Year  History
        BORING   +0.46%  -4.08%  12.63%  29.60%
        S&P:     +0.40%   4.46%  28.98%  53.70%
        NASDAQ:  +0.38%   0.44%  23.97%  53.76%


    Rec'd   #  Security     In At       Now    Change
  2/28/96  400 Borders Gr    11.26     28.56   153.75%
  8/13/96  200 Carlisle C    26.32     42.50    61.44%
  6/26/96  100 Cisco Syst    53.90     86.19    59.90%
   3/8/96  400 Prime Medi    10.07     13.25    31.60%
 12/23/96  100 Tidewater     46.52     56.06    20.50%
   3/5/97  150 Atlas Air     23.06     26.38    14.38%
 11/21/96  150 Oracle Cor    32.43     33.25     2.52%
   2/2/96  200 Green Tree    30.39     30.63     0.78%
  11/6/97  200 FelCor Sui    37.59     36.31    -3.40%


    Rec'd   #  Security     In At     Value    Change
  2/28/96  400 Borders Gr  4502.49  11425.00  $6922.51
  8/13/96  200 Carlisle C  5264.99   8500.00  $3235.01
  6/26/96  100 Cisco Syst  5389.99   8618.75  $3228.76
   3/8/96  400 Prime Medi  4027.49   5300.00  $1272.51
 12/23/96  100 Tidewater   4652.49   5606.25   $953.76
   3/5/97  150 Atlas Air   3458.74   3956.25   $497.51
 11/21/96  150 Oracle Cor  4864.99   4987.50   $122.51
   2/2/96  200 Green Tree  6077.49   6125.00    $47.51
  11/6/97  200 FelCor Sui  7518.00   7262.50  -$255.50

                             CASH   $3021.10
                            TOTAL  $64802.35