Wednesday, June 4, 2008

Stocks Update

Today, I bought 600 shares of PFE at 18.92; 150 shares of EWM at 11.07; and 50 shares of EQ at 47.32; and 150 of WYE at 43.83. PFE has gone down too far, which makes no sense. A WSJ article actually said that the stock might go down to 10 to 12 dollars without the high dividend (the entire article was pablum, as far as I'm concerned). Sometime soon, there will be a day when most pharma goes up 3% on an analyst's upgrade of the sector. Personally, I just want to sell before November 2008, so I have plenty of time. I bought EWM for more international diversification. Also, being close to Singapore should help Malaysia's economy stay vibrant, even if only due to a spillover effect from foreign investments and deposits. Malaysia's "Second Home" program--basically allowing foreigners to buy a long term visitor visas in exchange for making a large deposit of funds in the country--is a very astute idea as well. And finally, I bought EQ solely for its dividend.

I might be able to sell all the pharma stocks by this Friday at a profit. MRK is already ex-dividend, and PFE just paid out its dividend.

Here is my record with respect to the stocks I bought after I started the first "Stocks Update" entry on May 23, 2008:

Open Positions
761 of PFE; losing 2.4% (bought at various times, but major purchase of 600 shares bought on June 4, 2007)

150 of EWM; losing 0.4% (bought on June 4, 2007)

100 of IF; losing 3% (bought on May 23, 2008; indicated long-term hold at time of purchase)

100 of MRK; losing 0.6% (bought on May 30, 2008)

250 of WYE; losing 0.7% (bought on May 30, 2008 and June 4, 2008)

50 of EQ; even (bought on June 4, 2008)

Record in open positions: negative/losing 1.42%

Closed Positions:
MMM and SCUR (held less than seven days; record in this category is a 7.75% average gain)

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