For the month of January, 2011 our portfolio was up 0.52% compared to 2.33% for the S&P500. Our portfolio underperformed the S&P500 by 1.81%. Not a good start for the new year, but we remained focused on the long-term and try not to get carried away with short-term performance (in either direction). As I mentioned in the last post, we are taking some defensive position which hurt us a little this month since the market has been going up.
Portfolio Movers
On the positive side, LMI Aerospace (LMIA) was up 17.14% in January. It had been going down since it reported it’s earning in November and we were able to add more position at $14.80. It closed January at $18.73.
Archer Daniels Midland (ADM) was up 8.61% mostly because the agricultural commodity prices has been going up.
Gilead Science (GILD) was up 5.91% after it announced good quarterly numbers.
Cisco (CSCO) went up 4.55%.
Ameron International (AMN) went down 9.69% after it announced a good quarterly and annual numbers but lowered the guidance for 2011. It expects 2011 earning (ending November 2011) between $3-$3.50. Currently, AMN makes up 12.3% of our portfolio.
Aceto Corporation (ACET) was down 4.33% for the month.
Transactions
Sold KND at $20.5: For a long term gain of 74%.
Sold AHCI at $2.5: For a short-term gain of 17.9% mostly because it is a small company and we felt we needed to cut some of our riskier holdings while the market was still up.
Our cash position stands at 17.04%.
Our partnership NAV for the month ending January, 2011 is $12.91



