Boring
Portfolio Report
Friday, January 9, 1998
by Greg Markus
([email protected])
New York, NY (Jan. 9, 1998) -- The Dow fell more than 200 points, the S&P 500 lost almost 3%, and the Nasdaq tumbled 3.36% Friday. The loss are being attributed to the usual suspects: continuing anxieties about Asian economies and warnings of earnings shortfalls from assorted companies, located primarily in the technology sector.
One might naturally assume that it was a dreadful day on Wall Street, but it was in fact a simply glorious day. I can vouch for that, because I'm tapping out this evening's Borefolio recap from the middle of New York's financial district.
The sun shined so brilliantly that if you were walking toward the Hudson you had to shield your eyes with your hand. One time & temp sign I passed registered 71 degrees. By 3 o'clock or so, throngs of traders were outside, enjoying a snack or a nicotine fix. No one looked particularly upset or worried. To the contrary, I actually spotted a few Noo Yawkers smiling.
I saw no news on any Borefolio holdings today, other than an analyst registering his opinion on Cisco Systems (Nasdaq: CSCO) today. Trading volume on Tidewater (NYSE: TDW) was exceptionally heavy -- but then that is almost unexceptional these days.
In other words, if you hadn't seen the losses, you might well have inferred that it was a fairly uneventful day. Indeed, it was an uneventful day -- for the companies, if not for their stocks.
As for the stocks, the Borefolio slid 2.87%, a bit less than the benchmarks.
Yippy.
The Cisco news? Argent Securities initiated coverage of the Kid today with a ... "sell."
"Sell."
Please note that Cisco shares closed today at $54 1/8, down $1 15/16. Let's now wait and see at what price Argent changes its recommendation and urges us to "accumulate" or, heck, even "buy."
That's it from here. After dropping a few bucks at the Gap (NYSE: GPS) and Borders (NYSE: BGP) with my daughter to celebrate her fifteenth birthday, we're heading uptown to catch a show near Times Square -- named after the New York Times (NYSE: NYT), of course. Any one of those companies would make a fine long-term investment in this guy's opinion.
See you next week.
FoolWatch -- It's what's going on at the Fool today.
Buy a Book and Get It Signed! -- Book Tour '98
Stock Change Bid CGO -1 1/8 23.88 BGP - 5/16 28.63 CSL -1 3/8 40.56 CSCO -1 15/16 54.13 FCH --- 36.81 GNT -1 3/8 23.06 PMSI -1 1/8 11.63 TDW -1 1/2 43.00 |
Day Month Year History BORING -2.87% -6.83% -6.83% 17.23% S&P: -2.97% -4.40% -4.40% 49.24% NASDAQ: -3.36% -4.28% -4.28% 44.41% Rec'd # Security In At Now Change 2/28/96 400 Borders Gr 11.26 28.63 154.30% 8/13/96 200 Carlisle C 26.32 40.56 54.08% 6/26/96 150 Cisco Syst 35.93 54.13 50.63% 3/8/96 400 Prime Medi 10.07 11.63 15.46% 3/5/97 150 Atlas Air 23.06 23.88 3.54% 11/6/97 200 FelCor Sui 37.59 36.81 -2.07% 12/23/96 100 Tidewater 46.52 43.00 -7.58% 2/2/96 200 Green Tree 30.39 23.06 -24.11% Rec'd # Security In At Value Change 2/28/96 400 Borders Gr 4502.49 11450.00 $6947.51 8/13/96 200 Carlisle C 5264.99 8112.50 $2847.51 6/26/96 150 Cisco Syst 5389.99 8118.75 $2728.76 3/8/96 400 Prime Medi 4027.49 4650.00 $622.51 3/5/97 150 Atlas Air 3458.74 3581.25 $122.51 11/6/97 200 FelCor Sui 7518.00 7362.50 -$155.50 12/23/96 100 Tidewater 4652.49 4300.00 -$352.49 2/2/96 200 Green Tree 6077.49 4612.50 -$1464.99 CASH $6427.47 TOTAL $58614.97