jan2010

For the month of January, our portfolio was up 0.14% Vs a loss of 3.7% for the S&p500.  Our portfolio outperformed the S&P500 by 3.84%.

OSI Pharmaceutical Inc (OSIP) was up 10.2% and our largest holding, AMN gained 8.78%. On the other hand, Kindered Healthcare (KND) lost 8.4%, followed by Forest Lab (FRX) which lost 7.69%.

Transactions

Sold SPY and VB: S&P500 was at around 1150 on January 19th. We thought it was a little too high, so we decided to build some cash by  selling SPY and VB. SPY is a S&P500 index ETF so there was no point in holding it if we though the market was too high. We sold it at $114.55 for a gain of 18%. VB, which is Vanguard Small Cap index ETF, was up 52% for us. We sold it for $59.4. Both are long term capital gains.

With those transactions and contributions, our cash position has gone up to 17.29%.

NAV for the month ending January was $10.1422.