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Lemley Yarling Management Co
309 W Johnson St
Apt 544
Madison, WI 53703
Bud: 312-925-5248

Comments on activity in client accounts

9 April 2021

As is obvious from our rapid and unprofitable trading of the past few weeks we are conflicted as to the direction of the markets and the risk involved in holding positions.

There are so many warning signs- Bitcoin; NFTs (selling computer images); baseball cards selling for $3 million, Shopify cheap at 300 times earnings since it’s priced at $1233 down from $1500; and on and on.

On the other hand, AT&T yields 6%; Verizon 4%, and Merck 3.5% and are priced at 12 times earnings. The problem with holding value stocks in overpriced markets is that last March value stocks dropped as much as the goofy priced stocks and we continue to foresee a reckoning at some time this year.

And so, we hope to get better control of our greed and thus our trading. We end the week owning XLK (the tech ETF which is 20% Apple and 20% Microsoft), IBM, Box, AT&T, Verizon, First Solar, Canadian Solar, Viacom, Merck, XLE (domestic oil ETF), Apache Oil, Macy’s, GE and Ford.

Happy April showers.

*****

 


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Website Information

Check the background of this firm at https://brokercheck.finra.org/

For Information on RBC LLC SIPC and Excess SIPC protection https://www.rbcwm-usa.com/legal/rbc-cs/cid-319579.html.

For those clients of LY & Co and other interested persons the Quarterly Report on the routing of customer orders under SEC Rule11Ac1-6.
For Quarter Ending 09/30/2002 For Quarter Ending 12/31/2002 For Quarter Ending 03/31/2003
For Quarter Ending 06/30/2003 For Quarter Ending 09/30/2003 For Quarter Ending 12/31/2003
For Quarter Ending 03/31/2004

All SEC Rule11Ac1-6 Quarterly reports up to March 2, 2012 may be found by visiting the diclosures at LY& Co Clearing Broker Mesirow Financial at: http://www.tta.thomson.com/reports/1-6/msro/.

From March 2, 2012 forward all SEC Rule11Ac1-6 Quarterly reports may be found by visiting the website https://www.rbcwm-usa.com/legal/rbc-cs/cid-360855.html.


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A list of all recommendations made by Lemley Yarling Management Co for the preceding one-year period is available upon request.


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309 W Johnson Street Apt 544 Madison, WI 53703 312-925-5248
The factual statements herein have been taken from sources we believe to be reliable but such statements are made without any representation as to accuracy or completeness or otherwise. From time to time the Lemley Letter, or one or more of its officers or employees, may buy and sell as agent the securities referred to herein or options relating thereto, and may have a long or short position in such securities or options. This report should not be construed as a solicitation or offer of the purchase or sale of securities. Prices shown are approximate. Past performance is no indication of future performance.