Worst Performers Over Last Quarter

And here is the list of worst perfomers... keep in mind this is over a 90 day period. I show 136 stocks that lost at least 45% in the previous quarter. Very bad. The list is obvious - anything global growth, commodity related or the "dead" financial types.

Criteria

1. Market capitalization $1.25B+
   
2. Average trading volume 100K+
3. Stock price $0+
4. Return this month -45%+

Green names we own, blue names we have owned in the past or discussed in the blog. In orange I listed names we owned at some point during the quarter. As we discussed in [Oct 2: Review of 3rd Quarter 2008 Sales] 95% of the stocks we sold this quarter continued down after we sold them, on average nearly 30%.

If you are a believer in "reversion to the mean" (i.e. what goes down must go up) at some point in the next 6 months you'd think some of these must have tremendous rebounds much like the financials had after being beaten senseless during the winter and spring. But until hedge funds are done liquidating "when" a rebound occurs is an open question. SandRidge Energy (SD) I know from reading 3-4 months ago was a very large holding among hedge funds, as obviously were the fertilizer stocks.... so with what are effectivaly margin calls these are being sold relentlessly, at any price, at any value.

Symbol	Company Name	% Price Change
FNM	Federal National Mortgage Association	(92.9)
AIG	AIG-AMERIC.INT.GRP	(85.3)
SD	SandRidge Energy Inc	(75.8)
RRI	Reliant Energy Inc	(72.8)
GGP	General Growth Properties Inc	(70.3)
SIRI	Sirius XM Radio Inc	(69.8)
MOS	Mosaic Co	(69.1)
ELN	Elan Depository Receipt	(68.9)
MTL	Mechel ADR Rep 3 Ord Shs	(68.9)
PCX	Patriot Coal Corp	(67.8)
ARA	Aracruz Celulose ADR	(67.6)
XCO	EXCO Resources Inc	(67.2)
HK	Petrohawk Energy Corp	(65.5)
CEG	Constellation Energy Group Inc	(65.1)
MEE	Massey Energy Co	(64.2)
MDR	McDermott International Inc	(63.7)
STLD	Steel Dynamics Inc	(63.6)
DYN	Dynegy Inc	(63.5)
AKS	AK Steel Holding Corp	(61.6)
EXH	Exterran Holdings Inc	(61.5)
CNX	CONSOL Energy Inc	(61.3)
CF	CF Industries Holdings Inc	(60.3)
SGR	Shaw Group Inc	(60.0)
KWK	Quicksilver Resources Inc	(59.8)
X	United States Steel Corp	(59.2)
CMC	Commercial Metals Co	(59.1)
CLF	Cleveland-Cliffs Inc	(59.1)
MPEL	Melco Crown Entertainment Ltd	(59.0)
FCX	Freeport McMoRan Copper & Gold Inc	(58.7)
WTI	W&T Offshore Inc	(58.4)
PXP	Plains Exploration & Production Co	(58.4)
ACGY	Acergy ADR	(58.3)
WLT	Walter Industries Inc	(58.3)
WB	Wachovia Corp	(58.3)
ACI	Arch Coal Inc	(57.6)
AGU	AGRIUM INC	(57.6)
HIG	Hartford Financial Services Group Inc	(57.6)
IPI	Intrepid Potash Inc	(57.5)
VMW	VMware Inc	(57.5)
GGB	Gerdau SA Depository Receipt	(57.5)
VCP	Votorantim Celul Depository Receipt	(57.4)
CHK	Chesapeake Energy Corp	(56.7)
GNW	Genworth Financial Inc	(56.6)
NBR	Nabors Industries Ltd	(56.5)
CLR	Continental Resources Inc(Oklahoma)	(56.2)
SDA	Sadia ADR Rep 3 Pref Shs	(56.0)
MIR	Mirant Corp	(56.0)
DRYS	DryShips Inc	(55.6)
RS	Reliance Steel & Aluminum Co	(55.5)
NHYDY	Norsk Hydro ADR Rep 1 Ord Shs	(55.4)
ODP	Office Depot Inc	(55.2)
CBI	Chicago Bridge & Iron Co NV	(55.0)
AKAM	Akamai Technologies Inc	(55.0)
TX	Ternium SA	(55.0)
SID	Companhia Siderurgica Nacional ADR	(55.0)
NFX	Newfield Exploration Co	(54.9)
IVN	IVANHOE MINES LTD	(54.8)
WFT	Weatherford International Ltd	(54.8)
POT	Potash	(54.8)
COG	Cabot Oil & Gas Corp	(54.3)
AAUK	Anglo American ADR	(53.9)
EQT	Equitable Resources Inc	(53.8)
WFR	MEMC Electronic Materials Inc	(53.8)
DNR	Denbury Resources Inc	(53.6)
PCU	Southern Copper Corp	(53.6)
BTU	Peabody Energy Corp	(53.5)
PTEN	Patterson-UTI Energy Inc	(53.2)
AUY	Yamana Gold Inc	(52.6)
TRA	Terra Industries Inc	(52.4)
GDP	Goodrich Petroleum Corp	(52.2)
EAC	Encore Acquisition Co	(52.2)
MTW	Manitowoc Co Inc	(52.1)
TCK	Teck Cominco Ltd	(52.0)
ATI	Allegheny Technologies Inc	(51.7)
KBR	KBR Inc	(51.7)
NOV	National Oilwell Varco Inc	(51.5)
OIS	Oil States International Inc	(51.3)
TS	Tenaris ADR	(51.3)
OEH	Orient Express Hotels Ltd	(51.2)
GNA	Gerdau AmeriSteel Corp	(51.1)
FWLT	Foster Wheeler Ltd	(51.1)
ANR	Alpha Natural Resources Inc	(50.8)
RIO	Companhia Vale Do Rio Docea ADR	(50.8)
CZZ	Cosan Ltd	(50.0)
STR	Questar Corp	(50.0)
CCJ	CAMECO CORPORATION	(50.0)
NBL	Noble Energy Inc	(50.0)
ME	Mariner Energy Inc	(49.9)
MRVL	Marvell Technology Group Ltd	(49.7)
WMB	Williams Companies Inc	(49.6)
SPN	Superior Energy Services Inc	(49.5)
GTI	GrafTech International Ltd	(49.4)
CE	Celanese Corp	(49.3)
PDS	Precision Drilling Trust	(48.8)
CBG	CB Richard Ellis Group Inc	(48.8)
EGN	Energen Corp	(48.8)
CXG	CNX Gas Corp	(48.8)
OGZPY	Gazprom Rep 4 Ord Shs ADR	(48.8)
SBS	Companhia de Saneamento Basico ADR	(48.7)
CRK	Comstock Resources Inc	(48.5)
TEX	Terex Corp	(48.5)
CMVT	Comverse Technology Inc	(48.4)
BG	Bunge Ltd	(48.2)
SM	St Mary Land & Exploration Co	(48.1)
NRG	NRG Energy Inc	(48.1)
SQM	Sociedad Quimica y Minera de Chile ADR	(48.1)
RTP	Rio Tinto ADR Each Reptg Four Ord Shs	(48.1)
UNT	Unit Corp	(48.0)
SLT	Sterlite Industries (India) Ltd	(48.0)
FLR	Fluor Corp	(48.0)
NXY	NEXEN INC	(47.9)
TXT	Textron Inc	(47.3)
ACH	Aluminum Corporation of China ADR	(47.3)
CETV	Central European Media Enterprises Ltd	(47.2)
CPN	Calpine Corp	(47.2)
AES	AES Corp	(47.2)
JBL	Jabil Circuit Inc	(47.1)
HP	Helmerich & Payne Inc	(47.1)
JOYG	Joy Global Inc	(47.1)
ATW	Atwood Oceanics Inc	(47.0)
HAL	Halliburton Co	(47.0)
RIMM	RESEARCH IN MOTION LIMITED	(47.0)
MT	ArcelorMittal ADR	(46.8)
EP	El Paso Corp	(46.7)
HLX	Helix Energy Solutions Group Inc	(46.3)
VMED	Virgin Media Inc	(46.3)
SPW	SPX Corp	(46.3)
RRC	Range Resources Corp	(46.3)
BJS	BJ Services Co	(46.2)
TK	Teekay Corp	(46.1)
BRY	Berry Petroleum Co	(45.9)
SLM	SLM Corp	(45.8)
PCLN	Priceline.Com Inc	(45.5)
WLL	Whiting Petroleum Corp	(45.5)
SLW	Silver Wheaton Corp	(45.1)
OZM	Och Ziff Capital Management Group	(45.0)