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New Money Value/Turnaround Portfolios
December 22, 2000 Portfolio New Money Value/ Turnaround
Portfolio- Closed on 1/26/01 with a gain of 16.3% vs. 3%
for the S&P 500.
| Symbol |
Company |
Price
When Purchased 12/22 |
Target |
Sell
Stop |
Date
Sold |
Sale
Price |
Profit/
(Loss) |
| GM |
General Motors |
50.06 |
60.00 |
47.625 |
1/26 |
53.75 |
+7.4% |
| CNS |
Cons. Stores |
10.12 |
12.00 |
9.25 |
1/9 |
12.00 |
+18.5% |
| RCL |
Royal Car. Cruise |
23.95 |
29.75 |
25.75 |
1/26 |
26.65 |
+11.2% |
| HLT |
Hilton Hotels |
10.06 |
11.06 |
9.375 |
1/7 |
11.06 |
+9.9% |
| ASYT |
Asyst Corp |
12.43 |
17.00 |
14.375 |
1/20 |
17.00 |
+36.8% |
| LTD |
The Limited |
16.18 |
20.00 |
16.875 |
1/26 |
19.63 |
+21.3% |
| TEX |
Terex |
15.12 |
17.75 |
16.75 |
1/25 |
17.75 |
+17.4% |
| UB |
UnionBanCal |
23.81 |
26.00 |
22.875 |
1/25 |
26.00 |
+9.2% |
| GNTX |
Gentex |
18.06 |
22.25 |
18.375 |
1/8 |
22.25 |
+23.0% |
| CMOS |
Credence Systems |
21.93 |
26.25 |
22.875 |
1/12 |
26.25 |
+19.6% |
| MWD |
Morgan Stanley |
74.25 |
84.50 |
76.625 |
1/23 |
84.50 |
+13.8% |
| ONE |
Banc One |
36.625 |
43.00 |
34.625 |
1/26 |
39.31 |
+7.3% |
| CCRD |
Concord Communications |
8.43 |
9.875 |
8.75 |
1/17 |
9.875 |
+17.1% |
December 4, 2000 New Money Value/Turnaround
Portfolio- Closed on 12/22 with a
gain of 7.34% vs. a loss of 1.4 % for the SPX and a loss of 6.17% on the
NASD.
| Symbol |
Company |
Price
When Purchased 12/4 |
Target |
Sell
Stop |
Date
Sold |
Sale
Price |
Profit/
(Loss) |
| AMD |
Advanced
Micro Dev |
15.43 |
19.50 |
13.875 |
12/22 |
14.25 |
-7.6% |
| MOT |
Motorola |
18.56 |
21.75 |
16.625 |
12/11 |
21.75 |
+17.2% |
| RDC |
Rowan
Drilling |
21.31 |
24.00 |
18.75 |
12/18 |
24.00 |
+12.6% |
| AMAT |
Applied
Materials |
38.56 |
48.00 |
35.75 |
12/11 |
48.00 |
+3.7% |
| FD |
Federated
Dept |
31.18 |
38.00 |
28.875 |
12/22 |
30.68 |
-1.6% |
| ANTC |
Antec |
8.87 |
14.75 |
7.875 |
12/22 |
8.03 |
-9.4% |
| CAT |
Caterpillar |
40.68 |
45.00 |
37.875 |
12/22 |
45.00 |
+10.7% |
| HLT |
Hilton
Hotels |
9.37 |
11.625 |
7.875 |
12/22 |
10.00 |
+6.7% |
| ATML |
Atmel |
10.12 |
12.75 |
8.75 |
12/11 |
12.75 |
+25.9% |
| ANN |
Ann
Taylor |
20.75 |
25.00 |
18.875 |
12/22 |
21.50 |
+3.6% |
| GM |
General
Motors |
50.31 |
58.00 |
44.875 |
12/22 |
49.75 |
-1.1% |
| CY |
Cyprus
Semi |
22.18 |
27.00 |
19.75 |
12/11 |
27.00 |
+27.4% |
November New
Money Value Portfolio- Closed 12/1 with a loss of 2.34% vs
a loss of 8.2% for the SPX and 22.2% for NASD.
| Symbol |
Company |
Price
When Purchased 11/1 |
Target |
Sell
Stop |
Date
Sold |
Sale
Price |
Profit/
(Loss) |
| MU |
Micron
Tech |
35.50 |
47.50 |
29.875 |
12/1 |
31.00 |
-12.6% |
| ABS |
Albertsons |
24.00 |
28.00 |
21.75 |
12/1 |
25.00 |
+4.0% |
| SVRN |
Sovereign
Bank |
8.25 |
9.50 |
7.75 |
11/13 |
7.75 |
-6.0% |
| RCL |
Royal
Car. Cruise |
21.40 |
26.00 |
19.75 |
11/17 |
19.75 |
-7.7% |
| USB |
US
Bancorp |
24.25 |
28.50 |
21.75 |
12/1 |
24.75 |
+2.1% |
| VSH |
Vishay |
29.75 |
38.00 |
26.75 |
11/10 |
26.75 |
-10.0% |
| TXT |
Textron |
51.00 |
58.00 |
48.75 |
12/1 |
49.00 |
-3.9% |
| TOY |
Toys
R Us |
17.00 |
20.00 |
15.75 |
11/22 |
20.00 |
+17.6% |
| SOI |
Solutia |
12.54 |
15.375 |
10.375 |
12/1 |
12.54 |
0.0% |
| ADTN |
Adtran |
40.00 |
50.00 |
37.25 |
11/28 |
37.25 |
-6.9% |
October
New Money Value Portfolio- Closed
10/31/2000 with a gain of 3.6% vs. 0.8% for the S&P500.
| Symbol |
Company |
Price
When Purchased 10/9 |
Target |
Sell
Stop |
Date
Sold |
Sale
Price |
Profit/
(Loss) |
| VSH |
Vishay |
28.62 |
40.00 |
24.75 |
10/31 |
30.25 |
+6.5% |
| IAAI |
Insurance
Auction |
12.31 |
16.00 |
10.25 |
10/31 |
12.00 |
-2.5% |
| FDX |
Federal
Express |
41.75 |
47.50 |
39.375 |
10/31 |
47.00 |
+12.5% |
| EFNT |
Efficient
Network |
35.62 |
47.00 |
31.25 |
10/14 |
47.00 |
+31.9% |
| RCL |
Royal
Car Cruise Ln |
26.00 |
32.50 |
22.50 |
10/31 |
22.50 |
-13.5% |
| TER |
Teradyne |
33.18 |
49.50 |
29.50 |
10/31 |
32.00 |
-3.5% |
| WCOM |
Worldcom |
25.18 |
34.00 |
22.625 |
10/31 |
22.625 |
-10.2% |
| DF |
Dean
Foods |
34.12 |
38.25 |
30.50 |
10/31 |
32.625 |
-4.7% |
| GGC |
Georgia
Gulf Res |
14.31 |
16.75 |
12.75 |
10/31 |
13.00 |
-9.1% |
| AT |
AllTel |
55.00 |
62.50 |
49.50 |
10/31 |
62.50 |
+13.6% |
| TER |
Teradyne |
25.25 |
50.00 |
23.50 |
10/31 |
32.00 |
+26.7% |
| BAC |
Bank
America |
50.75 |
60.00 |
43.50 |
10/31 |
48.25 |
-4.9% |
New
Money Value/Turnaround Portfolio (8/16/00)- Closed
9/30/00 with a gain of 1.43% vs a loss of 3.2% for the SPX and a loss of
4.6% for the NASD.
| Symbol |
Company |
Price-
8/16 |
Target |
Sell
Stop |
Date
Sold |
Profit/
(Loss) |
| SVRN |
Sovereign
Bank |
8.19 |
10.00 |
7.625 |
9/18 |
+22.1% |
| EK |
Eastman
Kodak |
64.43 |
72.25 |
59.75 |
9/20 |
-7.3% |
| OLN |
Olin
Chemical |
17.50 |
21.00 |
15.875 |
9/18 |
-8.7% |
| PZB |
Pittston |
14.31 |
16.60 |
13.25 |
8/25 |
+16.1% |
| DD |
Dupont |
50.25 |
58.00 |
48.75 |
8/20 |
-2.9% |
| WNC |
Wabash |
9.90 |
13.00 |
8.875 |
9/20 |
-11.1% |
| NTAI |
Nam
Tai |
15.75 |
18.00 |
14.625 |
5/1 |
+14.2% |
| WHC |
Wachkenhut
Corrections |
8.50 |
10.625 |
7.625 |
9/30 |
-5% |
| FD |
Federated
Dept |
25.50 |
26.125 |
23.625 |
9/30 |
+2.5% |
| SHI |
Shanghai
Petr |
17.60 |
23.50 |
16.375 |
9/9 |
-6.3% |
| AWA |
America
West |
16.10 |
19.00 |
14.875 |
8/25 |
-7.6% |
| FDX |
Federal
Express |
40.50 |
45.00 |
38.875 |
9/30 |
+11.1% |
June
18, 2000 GARP- Gained 7.4% vs. 4% Loss on
S&P 500
| Symbol |
Company |
Price-
6/18 |
Price/
Cash Flow |
Proj.
P/E |
5
Yr EPS Growth |
Target |
Sell
Stop |
Profit/Loss |
| AVNT |
Avant
Corp |
15.00 |
7.1x |
7.0x |
35.7% |
23.00 |
16.875 |
+12.5% |
| AEOS |
Amer.
Eagle Outfitters |
12.50 |
5.8x |
4.9x |
23.8% |
15.50 |
12.875 |
+24.0% |
| NTAI |
Nam
Tai Elect |
16.60 |
5.4x |
8.3x |
25% |
18.00 |
15.87 |
-4.3% |
| NUE |
Nucor |
36.60 |
5.7x |
7.9x |
16.9% |
38.93 |
33.00 |
+6.3% |
| EFII |
Electronic
for Imaging |
22.30 |
10.8x |
10.0x |
30.3% |
29.25 |
23.875 |
+7.5% |
| WMS |
WMS
Indust. |
14.10 |
8.1x |
10x |
30.3% |
16.25 |
14.75 |
+15.3% |
| FRNT |
Frontier
Air |
12.50 |
5.5x |
6.7x |
17% |
15.125 |
13.625 |
+17% |
| MYL |
Mylan
Labs |
18.10 |
13.1x |
11.0x |
17% |
21.00 |
16.875 |
+15.7% |
| HP |
Hel.
& Payne |
36.90 |
11.5x |
21.6x |
36% |
39.50 |
36.625 |
-0.1% |
| YUM |
Tricon
Rest. |
28.10 |
4.4x |
7.7x |
14% |
33.50 |
26.625 |
-5.6% |
| TIN |
Temple
Inland |
45.10 |
6.8x |
5.2x |
6.8% |
46.00 |
40.25 |
+2.0% |
2/4 The new
value/turnaround portfolio will take patience as value is out of favor and high
technology is in favor. Twelve months from now, this portfolio could shine.
Additionally, value stocks are generally individually out of favor, which is
precisely why they are cheaper than the market. Additionally, many of these
stocks have a degree of economic sensitivity and could get hurt by economic
slowing.
Value/Turnaround
Portfolio as of 2/1/00- Closed 7/3/00
A brief
retrospective on this Value/Turnaround, is that it has come on to really
generate a nice outperformance. Further, a purely Big Cap Value/Turnaround would
include many of these same names.
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Value/ Turnaround Portfolio
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Date of
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Price
|
Stop
|
Target
|
Price
|
Date
|
Gain/Loss
|
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FDX
|
2/1/00
|
$39.56
|
$34.88
|
$50.00
|
$ 39.81
|
7/3/00
|
0.63%
|
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ONE
|
2/1/00
|
$29.81
|
$24.88
|
$45.00
|
$ 28.44
|
7/3/00
|
-4.84%
|
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BEN
|
2/1/00
|
$35.69
|
$33.88
|
$45.00
|
$ 31.00
|
7/3/00
|
-15.12%
|
|
TIE
|
2/1/00
|
$4.94
|
$4.25
|
$10.00
|
$ 5.06
|
7/3/00
|
2.46%
|
|
FSR
|
2/1/00
|
$23.88
|
$19.88
|
$32.00
|
$ 19.88
|
25-Feb
|
-20.10%
|
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BAC
|
2/1/00
|
$48.44
|
$44.88
|
$65.00
|
$ 45.00
|
7/3/00
|
-7.64%
|
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CPQ
|
2/1/00
|
$27.50
|
$23.88
|
$45.00
|
$ 25.19
|
7/3/00
|
-9.18%
|
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HMA
|
2/1/00
|
$13.94
|
$11.88
|
$18.00
|
$ 13.00
|
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