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This blog is produced by David Merkel CFA, a registered representative of Finacorp Securities as an outside business activity. As such, Finacorp Securities does not review or approve materials presented herein. By viewing or participating in discussion on this blog, you understand that the opinions expressed within do not reflect the opinions or recommendations of Finacorp Securities, but are the opinions of the author and individual participants. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security or other instrument. Before investing, consider your investment objectives, risks, charges and expenses. Any purchase or sale activity in any securities instrument should be based upon your own analysis and conclusions. Past performance is not indicative of future results. Finacorp Securities is a member FINRA and SIPC.

David Merkel

At my blog there are two main purposes: teaching investors about better investing through risk control, and tying all of the markets into a coherent whole.

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    Triage

    I’m still working through my portfolio, but I have categorized some stocks:

    The Dead — Companies with bad balance sheets, but have been whacked so bad that it is still worth playing

    • Jones Apparel
    • Deerfield Capital
    • YRC Worldwide

    Walking Wounded — Companies with okay balance sheets that we feed more cash to

    • Lafarge
    • Industrias Bachoco

    Seemingly healthy that might have financing problems — Sold

    • Lithia Automotive
    • Group 1 Automotive

    Uncertain as of yet

    Barclays plc

    Safe New Names Bought

    • PartnerRe
    • Microcap yet to be named when I have my full position on.

    More tomorrow. As you can tell, I am positioning my broad market fund more conservatively. I am not optimistic on how we work through the amalgam of debts that might not get paid.

    Full disclosure: long PRE IBA DFR JNY YRCW BCS LR

    This entry was posted on Thursday, August 16th, 2007 at 11:38 pm and is filed under Insurance, Portfolio Management, Stocks, Value Investing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

    One Response to “ Triage ”

    1. Josh Stern Says:
      August 17th, 20074:07 pm at

      Nice pop with the DFR. IMO, it would be an informative column to explain in detail how you evaluate a company like that.

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