My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 2020 with at least $3 million.


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February 2004 Month-End Holdings

Contributed by mm | February 27, 2004 2:20 PM PST

February 2004                  
Stock Quantity Avg Cost This Month Value % of Portfolio Last Month MOM Change % Change Since Entry Target % of Target
FDP 148  $        26.04  $        25.46  $      3,768.08 11%  $        26.00 -2.1% -2.2%  $      40.00 64%
OCA 1,500  $         5.42  $         7.49  $    11,235.00 34%  $          7.84 -4.5% 38.2%  $      10.00 75%
PPD 280  $        23.07  $        23.73  $      6,644.40 20%  $        22.79 4.1% 2.9%  $      34.00 70%
RJR 100  $        33.75  $        61.73  $      6,173.00 19%  $        59.06 4.5% 82.9%  $      52.00 119%
TALK 290  $        10.41  $        11.70  $      3,393.00 10%     12.4%  $      17.00 69%
+ZMFME 1,000  $         1.38  $         1.70  $      1,700.00 5%  $          1.45 17.2% 23.2%  $       2.00 85%
Total Portfolio Value      $    32,913.48            
S&P 500           1,144.98            1,131.13 1.2%      

TRANSACTIONS

TRADE #37 - Buy TALK 290s @ $10.36 in Roth IRA

DISCUSSIONS

- I newly acquired 290 shares of TALK in my Roth IRA as a value play. The company provides a strong cash flow with the possibility to reinvest cash with an ARR exceeding 100%.

- My portfolio slightly gained in the month of February: the 10+% run from +ZMFME and newly acquired TALK was partially offset by the decline of OCA and FDP.

- TALK, PPD and FDP announced quarterly release this month. Out of a scale of 10, I will give 10 to TALK, 8 to FDP and 4 to PPD.

- (FDP) In a seasonally weak Q4, FDP still reported good cash flow and beat earning estimate. I expect to hold FDP for long term with a target of $40.

- (OCA) OCA will announce its 2003 Q4 earnings on March 11. I expect it to report consistent EPS numbers. The focus will be on its capability to control the receivables. If the company cannot should discipline in managing the receivables, I might consider to offload at least portion of my OCA holdings after the earning release.

- (PPD) Stock price-wise, PPD continued to be a dog. In the last quarter, earnings and cash flow are hurt by the commission outlay of the booming Identity Theft Shield service line, and this is a little bit surprise to me (at least management had not effectively communicated the potential impact in the last con call). I still love the strong cash flow and management's willingness to buy back stock. Although I rated the quarterly earnings as 4 out of 10, I still plan to hold this position for a substantial period.

- (RJR) RJR delivered its fifth consecutive month of stock price increase and it is already 19% above my target price. March 18 will mark the one-year anniversary of my holding in this stock and I plan to sell it shortly afterwards so the $3,000+ capital gains can be classified as long-term gain (potential tax benefit of ~$300). I'm 99% sure this issue will not appear in my next monthly report.

- (TALK) I love my newly acquired TALK position and participation of the quarterly conference call make this love firmer. It has delivered 12% gain after my purchase on February 3rd. I'm willing to hold this position further with a tentative target price of $17. I might consider to add more money to this company.

- (+ZMFME) This defensive option play served its purpose to slightly mitigate the my exposure to MSFT thru my compensation plan. I'm also considering to purchase put options on QQQ per suggestions from Whitney Tilson.

- Overall, I do not expect to add more money to the portfolio in the near future considering the market climate. My mood is still defensive and I am willing to lose some potential gains if this is what it means.

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