Hello friends, I've written about the importance of keeping an eye on your Magic Formula stocks because, even though you plan to buy and hold for a year, there are certain things beyond our control. One of these is when another company buys the company you own outright. This happened earlier this month when Apollo Global Management bought The Michaels Companies (MIK), which … [Read more...] about Corporate Action! Portfolio Update 4/30/2021
Portfolio Update 2/21/21
I finished the latest round of Magic Formula transactions nearly a week ago, when we Texans were in the middle of the worst winter storm to hit the state since 1986 or so. I was very lucky, never losing power at my place. My worst problem was my kitchen sink froze up for a few days. We were washing dishes in the bathroom! But things have since thawed out and I'm ready to update … [Read more...] about Portfolio Update 2/21/21
Thoughts on Gamestop (GME)
I write this on Saturday, February 6th, 2021. Gamestop closed at $63.77 yesterday, down from a high of about $483 just over a week ago. But even the current price is WAY higher than when I bought the stock as part of my Magic Formula portfolio just over four years ago on Jan 27th, 2017. I paid $24.13, and sold the stock for $16.75 a year later. The stock went gradually down … [Read more...] about Thoughts on Gamestop (GME)
Portfolio Update 12/13/2020
Hello Dear Readers and Happy Holidays. This is my last update before I start swapping my Magic Formula stocks, one by one, for another set of "good and cheap" stocks picked by our hero Joel Greenblatt. Here's the latest snapshot of my portfolio: Wow! I almost broke even! I started this noble experiment with just over $60K. A few years later - I've only lost a few … [Read more...] about Portfolio Update 12/13/2020
Portfolio Update 10/3/2020
As I put fingertips to keys this beautiful Fall evening in the Fort Worth Command Center Dizzy Gillespie is spinning on my turntable, I'm sipping some rich hibiscus tea, and our President is in the hospital for Coronavirus. Despite that last fact markets have not yet gone into a tailspin - in fact the SPY (SPDR S&P 500 ETF) ended up for the week. The SPY is now trading at … [Read more...] about Portfolio Update 10/3/2020