Investment

12/16/2009, Trades:
We sold all of our BMY which represented about 8% of our portfolio. Its P/E has risen to about 14. We purchased our shares at an average price of 18.59, and sold today at 25.69. BMY's spin off of MJN was not a factor. See our blog.

11/23/2009, Trades:
This morning we purchased enough GLD to start a position at about 2.08% of our portfolio. GLD is an ETF which follows the price of Gold. We continue to be concerned that the current recovery will flatten out or reverse into a second recessionary dip. Last week, in an interview with Fox News's Major Garret, President Obama indicated that he wanted to make sure the country did not have double dip recession. This is a sure sign that his economic advisors are warning him that the recession may have a second dip. He is lowering expectations.

11/19/2009:
Buckle Inc. (BKE) issued a fair earnings report of $0.71 compared to $0.70 expected by analysts and $0.62 for the year ago quarter. We will continue to watch it.

11/16/2009, Trades:
After further reviewing the balance sheet of WTW, we decided that the investment was too risky even though the company has good earnings. It has negative net worth, and negative current assets less current liabilities. So ... we sold 100% of our WTW.

11/10/2009 and 11/11/2009, Trades:
After the close, Weight Watchers International (WTW) issued a good earnings report of $0.68 compared to $0.64 expected by analysts and $0.67 for the year ago quarter.

At the 11/11 open, we purchased enough WTW at $27.32 to start it at about 1.23% of our portfolio.

11/03/2009:
Rockwell Collins (COL) issued a fair earnings report of $0.84 compared to $0.87 expected by analysts and $1.13 for the year ago quarter. We did not buy any yet.

After the close, World Fuel Services Corp (INT) issued an excellent earnings report of $1.04 compared to $0.81 expected by analysts and $1.37 for the year ago quarter. On the plus side, the earnings were much higher than analyst's expectations. On the minus side, earnings were much less than the year ago quarter, and the P/E is up to 13 or so. We decided not to buy.

10/29/2009:
SnapOn Tools (SNA) issued an good earnings report of $0.44 compared to $0.28 expected by analysts and $0.94 for the year ago quarter. We continue to hold SNA. We did not buy more because it P/E is around 13, and it already represents about 3% of our portfolio.

10/23/2009, Trades:
Based on a good earnings report and a P/E of about 12, we purchased enough Bucyrus (BUCY) at $47.18 to start it at about 3.3% of our portfolio. The P/E is a little high, but the positive earnings surprise was big.

10/22/2009, Trades:
Based on a good earnings report and a low P/E, we purchased enough Noble Corp. (NE) to start a position at 2% of our portfolio. We also sold our entire position (about 4% of our portfolio) in Tupperware Brands (TUP) because its P/E has increased to around 17, and that is too rich for us. We bought TUP at about $25 in May, and sold it today at about $43. We still love TUP, and hope to buy it back some time at a lower P/E.

10/22/2009:
Noble Corp. (NE) issued a good earnings report of $1.63 compared to $1.54 expected by analysts and $1.42 for the year ago quarter. We bought. See above. DO, RX, BMY, CSH and DLX also reported earnings around expectations. See the tables at the right. We are not buying DO or RX. We continue to hold BMY, CSH and DLX.

Bucryus International (BUCY) issued a large positive surprise earnings report of $1.21 compared to $0.86 expected by analysts, and $0.85 for the year ago quarter.

10/21/2009:
Tupperware (TUP) issued a quarterly earnings report of $0.55 compared to $0.42 expected by analysts and $0.43 for the year ago quarter. TUP is up a whopping 87% to $48 from where we bought it at $25.68. We continued to hold it, but did not buy more on its great earnings report, TUP's P/E is now up to 17, so we are watching it closely, and may have to sell soon.

10/20/2009:
Pfizer (PFE) issued a quarterly earnings report of $0.51 compared to $0.48 expected by analysts and $0.63 for the year ago quarter.

10/19/2009, Trade:
We put an additional 1.7% of our portfolio into GS, increasing our total holdings to 4.19% of our portfolio.

10/15/2009:
Goldman Sachs (GS) issued a great quarterly earnings report of $5.25 compared to $4.25 expected by analysts and $1.18 for the year ago quarter. We currently have about 2.3% of our portfolio in GS and are considering buying more.