Lemley Yarling Management Co
15624 Lemley Drive
Soldiers Grove, Wi 54655
Comments on activity in client accounts
8 February 2019
As we watched Amazon and Google move lower during the week (they have been market leaders for the past 15 months) and because of the substantial recovery in our accounts since year end we decided to raise cash. We also recalled that our accounts had risen smartly in early 2017 and 2018. Those two years we remained invested to our ultimate dismay.
We decided that this third time we would vary our actions by taking a large chunk of money off the table. And so beginning on Wednesday we took profits and a few scratch losses to get many accounts to 50 % cash. We also have an oversize position in accounts in AT&T which yields over 6%. The 6% dividend gives us $2 downside protection over a year.
We will continue to trade earnings misses in quality stocks such as Intel and retail stocks as they report this month, but for now we plan to remain on the sidelines.
We currently own: AT&T, Walgreens Boots, Under Armour, Hain Celestial (which reported bum earnings and dropped 10% this week) Marathon Oil (our sole oil stock), and normalized holdings in GE and Ford.
We are watching: Teva Pharmaceutical, Coty (in which we realized a nice profit this week, United Natural Foods, Bristol Myers Intel, IBM, Viacom and others.
Hain Celestial, Ugh!! : https://finance.yahoo.com/news/hain-celestials-hain-q2-earnings-140002380.html
Coty, good earnings and also a nice profit on short covering bounce.
United Natural Foods Sues Goldman Sachs for Not Disclosing That It Would Behave Like Goldman Sachs
Speaking of taking advantage:
So now the institutional investors are encouraging the hedge funds to take more risk to beat the market since the hedge fund managers won't earn anything if they don't. Go figure
Comments on activity archives
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