End of the month summary!

End of the Month Summary

Okay, I finished February up 14.5%. For those who like an index to compare with, the S&P 500 was up 2.3%. Here are my current positions:

I had trimmed BOFI when it went over 15%, and then it lost a few percent from its highs, while SWKS has just continued to go on up. (I trimmed a tiny bit from it too, but it has replaced BOFI as my biggest position). They are now at roughly

SWKS at 14.4%
BOFI at 13.8 %

Their Trailing PE’s are 22.7 for SWKS and just under 20 for BOFI. Next I have

CELG at 11.5%
SKX at 11.1%

CELG is at a PE of 32.7 so I’ve trimmed it four times in the past six months to keep it from getting too big a position. SKX is at a PE of 22 and I actually added to my position after the great earnings.

Now we drop down to my middle-size positions, ranging in size form 7.35% to 4.35%, in this order.

CRTO
AIOCF
WAB
XPO
POL
SYNA
FB

AIOCF was up 30% this month and I trimmed some of it off, mostly at 19.25 to 19.75, this week. It had been quite undervalued. I currently plan on keeping the rest. They haven’t yet reported Dec quarter results.

My small positions, running from 2.80% to 1.35%, are

EPAM
UBNT
INBK
PSIX
AMAVF

I had been hesitant with EPAM because of its possible exposure to a Ukraine-Russia war, but I’ve been slowly increasing my position. I’ve added a tiny bit to PSIX and UBNT too.

Finally I have a tiny position, 0.45%, back in JCOM, which I had sold out of for cash.

A lot of my positions have trailing earnings in a range that I consider reasonable, between 20 and 30 (EPAM, POL, SKX, SWKS, WAB).
CELG is just above that range at 32, and BOFI, INBK, SYNA, UBNT and JCOM are actually below it, below 20.
CRTO and FB are over 40, and PSIX is just under it.
XPO doesn’t have earnings yet, AIOCF hasn’t reported yet, and I don’t have a good take on AMAVF.

Thus my top four positions (with 50% of my portfolio) have an average PE under 25. I have five positions with PE’s under 20, five more with PE’s under 30, and an eleventh just over 30. Overall, I consider this a relatively conservative, unrisky portfolio, especially for the earnings growth it’s producing, compared to the average MF RB amount of risk, for instance, with PE’s of 70, 120, 150, etc. JMHO

Hope this helps.

Saul

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Thanks for sharing Saul. I know you are under no obligation to do this. But it is tremendously helpful to us on the boards.

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I compared this end of the month summary (post #6456), with the summary from a month ago (post #5634) and I see that I still have all the 15 stocks I had at the end of January, and the top 4 are still the top 4, the middle 7 are still the middle 7, all the small ones are still there, and I have added back two small positions in UBNT and JCOM. Now some people on the board see me as almost a “trader” because I’m not pure buy-and-hold-forever, and I don’t hesitate to get out of a position I no longer like, but that comparison of current positions with a month previous positions doesn’t look like any trader I ever heard about.

Just saying…

Saul

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Saul,

No, you are definitely not a trader.

You simply have an aptitude for shrewd and common sense investing that I’ve learned an awful lot from.

Congratulations indeed!!!

Jim

Thanks Saul, I am picking up some great lessons. Keep up the great work.

Andy