Hi all,

Guess I’m overdue for making a Halfway Report. Don’t worry, this will be short and sweet. Through
all the recent turmoil in the markets and especially in tech, in June I made no new purchases and
no sales. We did add a bunch of cash to our largest port during the month. I think that was the only
real change.

Last month’s report is here:…
and looked like this:

**Ticker	Equity Name                 	Prch Dt  	Size  	Days 	Cnvctn	Strategy	Gain	CAGR**
AAPL	Apple Inc.                	05/20/15	4%	743	5	Watch Closely  	31.0%	9.5%
ALGN	Align Technology, Inc.    	05/10/17	7%	22	6	Watch Closely  	5.2%	138.2%
CSX	CSX Corporation           	04/13/15	2%	780	8	Buy On Dip     	67.9%	27.5%
CSX	CSX Corporation           	04/07/15	3%	786	8	Buy On Dip     	67.3%	27.0%
FB	Facebook, Inc.            	03/21/17	5%	72	8	Hold           	9.1%	56.7%
FB	Facebook, Inc.            	04/23/15	4%	770	8	Hold           	82.2%	33.0%
GOOG	Alphabet Inc.             	03/21/17	6%	72	8	Hold           	13.8%	94.0%
GOOG	Alphabet Inc.             	05/20/15	5%	743	8	Hold           	78.4%	33.0%
MA	Mastercard Incorporated   	02/21/17	6%	100	6	Hold           	12.5%	52.7%
MELI	MercadoLibre, Inc.        	05/19/17	5%	13	5	Watch Closely  	-5.4%	-81.1%
MU	Micron Technology, Inc.   	05/11/17	11%	21	6	Watch Closely  	5.3%	155.1%
PAYC	Paycom Software, Inc.     	05/22/17	3%	10	6	Watch Closely  	0.8%	35.9%	
PYPL	PayPal Holdings, Inc.     	05/01/17	7%	31	7	Hold           	10.1%	216.6%	
SHOP	Shopify Inc.              	02/27/17	10%	94	8	Hold           	49.4%	364.8%	
SWKS	Skyworks Solutions, Inc.  	05/01/17	7%	31	6	Watch Closely  	7.2%	130.9%	
VEEV	Veeva Systems Inc.        	05/10/17	11%	22	7	Hold           	14.7%	945.3%	

After the little dip in tech and high flyers, I’m a lot more comfortable than previously. Several of my holdings
were truly out of line price-wise. Some still are out of line, but not like they were before the dip. Exponential
increases can only continue for so long, and while no one likes to see their port values hammered, 10-15%
mini-correctins are pretty common (and necessary.)

Here’s June’s summary.

**Ticker	Equity Name                 	Prch Dt  	Size  	Days 	Cnvctn	Strategy	Gain	CAGR**	
ALGN	Align Technology, Inc.    	05/10/17	5.3%	71	8	Watch Closely  	13.0 %	89.5%	
CSX	CSX Corporation           	04/13/15	1.9%	835	8	Buy On Dip     	69.3 %	25.9%	
CSX	CSX Corporation           	04/07/15	1.6%	829	8	Buy On Dip     	69.9 %	26.3%	
FB	Facebook, Inc.            	03/21/17	2.9%	819	8	Hold           	95.9 %	35.0%	
FB	Facebook, Inc.            	04/23/15	3.9%	121	8	Hold           	17.3 %	62.9%	
GOOG	Alphabet Inc.             	03/21/17	3.2%	792	8	Hold           	82.5 %	32.1%	
GOOG	Alphabet Inc.             	05/20/15	3.9%	121	8	Hold           	16.4 %	58.8%	
MA	Mastercard Incorporated   	02/21/17	4.5%	149	7	Hold           	16.9 %	46.2%	
MELI	MercadoLibre, Inc.        	05/19/17	3.5%	62	4	Watch Closely  	(3.6 %)	(19.9%)	
MU	Micron Technology, Inc.   	05/11/17	7.7%	70	6	Watch Closely  	9.2 %	59.4%	
PAYC	Paycom Software, Inc.     	05/22/17	2.5%	59	5	Watch Closely  	6.8 %	51.7%	
PYPL	PayPal Holdings, Inc.     	05/01/17	5.0%	80	7	Hold           	24.3 %	173.0%	
SHOP	Shopify Inc.              	02/27/17	7.1%	143	8	Hold           	51.5 %	186.7%	
SWKS	Skyworks Solutions, Inc.  	05/01/17	4.4%	80	5	Watch Closely  	4.9 %	24.6%	
VEEV	Veeva Systems Inc.        	05/10/17	7.6%	71	7	Hold           	13.8 %	96.7%	
Cash	U.S. Dollar                       		35.1%	   	 	    	                	                	
	**Totals                     	               	100.0%	   	      	               	13.4%	29.1%**
**RSP	Guggenheim S&P 500® Equal Weight ETF   			   	      	               	6.2%	13.0%**

So we’re up 13.4% YTD and growing capital at a 29.1% rate. Not bad, but not great either. I need to put a bunch
of cash to work again, so I’ll be dredging up new ideas and keeping my ears open. I also hope to raise that
CAGR substantially over the next few months. It might be tough with so much cash to invest when the markets
are at record highs once again. Then again, I’ve solved much worse problems, so I’d better get to work.

Good investing,



Dan, I’m interested in your “Purchase Date” and “Days” columns. The implication is that you buy a position and then never add or take anything away until you fully liquidate a position, apparently all at once. Is that correct?

OTH, if you tend to modify your positions, what does the date and days represent? Do you use a FIFO system to express these values? How do you keep track of each transaction and calculate adjusted date and days?

I’m curious because my broker reports total percent and $ gain/loss for each of my positions, but I don’t find that very enlightening with respect to ranking the performance of my positions. If I held everything steadily without change since initial purchase, relative performance would be easy to calculate, but I tend to trade out of some stuff to raise cash, maybe buy back in later when I raise some cash from a different sale - calculating average holding period (your “days” column) is a pain, or it is for me as my Excel skills are not very good.


The most obvious thing to me is that you sold out of Apple. Care to elaborate on why? Just curious. Opinions on Apple are all the rage these days…


Dan, I’m interested in your “Purchase Date” and “Days” columns. The implication is that you buy a position and then never add or take anything away until you fully liquidate a position, apparently all at once. Is that correct?

Hi rock,

Never say never. :slight_smile: My (ever-evolving) style has changed. I used to “ease into” some positions if I wasn’t rock-solid convinced about the company. I’m too old for that now, and I’m usually pretty darned sure before I buy, so I might buy a position anywhere from 3-10%. This is complicated by the fact that I invest for some relatives and the ports vary greatly in size. It also makes a report like these harder than one would think, to break out and hide the “values” columns, change the price back to the eom price, etc., I used to invest each port for each person in a rather custom fashion. A couple of years ago I decided to quit that, so now all ports are close to identical in percentage of holdings. (Actually even that gets complicated when one of the investors adds money to their ports - especially large additions.) I’m now sitting on a port that has 6-figures in cash sitting idle. What to do? I can’t hardly add more full or mostly full positions after the prices have raised so fast, can I? (Luckily, this time, it’s my wife’s port that has the problem and she won’t fire me no matter what.) Otherwise, it really is a problem, and now the ports will be all out of whack (that’s ok, but defeats my purpose) and that’s why I mentioned last time that I am considering using Manifest Investing as my broker, as you just design a port with any group of stock or etf by percentages, and pay one commission to “buy the port” or add to it, or change it, all in one transaction! (per portfolio.) Anyway, notice that there are more positions than unique tickers, and that’s because I do record each transaction separately, and therefore sometimes 2 “loads” of the same equity can have quite different CAGRs and tax consequences. I mention all of this because I noticed that in at least one example of a double-entry above, the “days” column appears to be reversed for 2 purchase dats of one equity. This comes from all of the shuffling, sorting and juggling to build these simple reports, not from my not being able to handle all the entries for each port. So if that’s what you saw that prompted your question and made you curious, it’s just a typo, a mistake; otherwise, I’m not sure I understand your question. If I do understand it, “Each purchase is a separate entry in each portfolio.”

All this is easy. I used to have 100+ tickers, maybe a dozen or more mega themes and several hundred transactions, in each of 10-12 very different portfolios, over the course of the year. As I said, I’m getting too old, I don’t want to spend that kind of time, but I enjoy helping my sister, my nieces and nephews, and some of them will (hopefully) be rather wealthy when they retire, assuming I live long enough to help them, as not a single one has any real interest in learning to invest.

I’d be glad to show you some forms I’ve built if it would help you, and you could choose things you like from one (or several) and I will combine them into a custom portfolio template for you. Let me know what you’re looking for and I’ll tell you if it can be done. The hell of it is right now, I have no way to automate price updates automatically since 1) Yahoo! has turned to worthless dust and 2) I’m using an old version of Office and so far resisting the big upgrade for all my computers. I update them from either StockRover or Zacks whenever I update them and it takes maybe 3-5 minutes start to finish, and just copy one page of prices and one page of “grades and rankings” from either site and < poof > updated port.

My skill at Excel are not bad, but I get in a hurry with reports such as these, because I’m more worried about accidentally letting values into the wild and that might color others’ perception of my abilities, if that makes sense. Maybe my ports total $5,000. Maybe they total $15 million. It’s no one’s business and makes no difference whatsoever.

I want to learn to invest better and teach others to invest better. I do not want others following my trades. No offense to Saul, but I can’t do what he does. When I was in another TMF service, the first one I ever joined, I got 3 or 400 followers in quick order (I suspect with my off-center humor, not any special investing prowess) and later started realized that my trades would get multiplied soon after I made them, and some of these poor folks were newbies. Yikes! What a recipe for disaster. I don’t believe in that, I don’t recommend that and I don’t want it. So I quit the service, and this board is one of the few where I’m willing to post even percentages, in hopes that it explains NOT what and when my trades are, EXCEPT for any degree they may explain how my philosophy produced them. It’s the systems and the thinking that’s important, not the trades (at least to me) and that’s why I enjoy so much in reading all you guys, including Saul. Yes, it’s interesting to know what you buy, hold and sell. But if you don’t tell me WHY, I no longer care to know the positions or sizes either because I learned zip except your favorite stocks, and I often disagree anyway. I also love high quality feedback and that’s what we usually get here 'cause Saul keeps out the riffraff, cheapshots and the drive-by snipers. That’s not because I know any better, it’s because I don’t–and it teaches me nothing but the stocks you like. I probably know that already. I want to know WHY you do what you do. I want ADVICE on how I could do it better. Someone said a few weeks ago they didn’t think I wanted criticism and advice. Wrong! I’m still learning, I hope, until I die.

My Main tab - PORTS - has at least 30-40 columns. Anal? Maybe, but if I need to know my dividends from Middleby in 2014, I got it, for each quarter. It has 10-12 tabs, some hidden and some not, to feed all the data into the main “Ports” Tab. The form I’m using now tracks everything - cash, gains, dates, dividends, CAGR, realized gains, unrealized gains, commissions, SEC fees, sector, industry, long & short etfs for each of those and etc., plus final CAGR and gains when I sell - for each portfolio all on one page.

Let me know what you need; I can help. And if you don’t like it, that’s okay too. If you do, you can buy me a beer someday. Or not.



The most obvious thing to me is that you sold out of Apple. Care to elaborate on why? Just curious. Opinions on Apple are all the rage these days…

Hi, Doc!

Oversight on my part. AAPL wasn’t excomunnicated until early July. For some reason TMF won’t let me link to the previous report right now(May).

I had owned it since 2015, it was up I think about 31%, and CAGR was < 10% if I remember correctly.
14% CAGR does not fit into my plan. I can “tolerate” it, but not for 2 years; it drug down my returns.
Big fan of company, not the products. My screens and especially the “Model Grader” I recently described, all listed several companies well above Apple and the price had been declining for several weeks.
Saw no catalyst but next iPone distribution, and wasn’t too confident about that.
Better opportunities elsewhere.

MELI is dragging me down now but only for a short time which I don’t worry about. (Although it did generate some pretty negative returns right after purchased.)


1 Like

Not answering for Dan, but for myself my spreadsheet has a separate line for each lot purchased. If I sell some, I insert a negative lot under oldest lot until that lot has been consumed. These are summarized across accounts in another part of the sheet.

Not answering for Dan, but …

Yes, you got it, I do the same thing until a position is closed. I just don’t trade as often as I used to, so it’s less of a factor now.