Thursday, November 4, 2010

Bookkeeping: Some Light Profit Taking

I'm busy gorging on profits as within minutes of my last post the S&P surged to test yearly high but I will soon edit the Julian Robertson post with video.

Much like in 1999, I have become a genius.  So have you.  Throw dart, buy stock, win.  The national IQ is soaring in terms of stock market prowess.  Your pet parakeet can also accomplish this - just put a newspaper open to the stock page on the bottom of the cage - wherever the poop falls... buy that stock.

For intellectual purposes only and frankly to make it appear the market still has risk in it (insert laugh track here), I'm going to take some light profits.  Again, if you want to maximize profits this sort of exercise is not what you want to do... I still have some old school in me, I am trying to get rid of.

I threw a dart a week ago (Oct 29th) at Silver Wheaton (SLW).  I wrote some intellectual comments but truly I used a borrowed parakeet.  My "intellect" has created a 12% windfall.  If you annualize that my parakeet can create 624% annual return.... it's *just that* easy in the no lose market.  I've decided to take 25% off the table, even though the parakeet says "press the bet loser!"

A few days before that I woke up to see Ford (F) was smudged on the newspaper... hence I bought.  That one did not work out right away... I was upset with the parakeet.  He told me "if the poop fits, you must acquit".  It made no sense, but I don't doubt genius.   Now I have mad money... 9.5% in just over a week.  That would annualize to 450%... I'm a bit disappointed because if Bernanke cannot create 500% annual gains, I feel let down.  I took 25% off the table.

Even though I think Magna International (MGA) will report a great quarter, I'll still take 25% off ahead of earnings.  If you are wondering - no, the parakeet did not do his magic on the stock sheet. ... I had him outside and he did his thing on my actual car.  Which got me to thinking.....

This one has been a tremendous loser - it is up only 20% since late August.  Heck that is only just over 100% annualized.... a laggard on my performance.

You see folks back in 1999, I had to throw darts on my own.  Uphill.  Both ways.  In the snow.  Barefoot.  I've become more efficient now, and let the parakeet do the work.  I just do the typing.  All that "productivity" you read about every month... this is an example of my American ingenuity. Speaking of which, I will be putting a fresh newspaper on the bottom of the cage tonight, which will provide me new names to purchase tomorrow.  Come back bright and early for a "fresh pile" of picks.  Onward!

(you do not even know how well I could do if I had a cockatoo like this providing stock picks)

Long these 3 names, and conceptually every asset in America not named the U.S. dollar in fund; no personal position


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