Decade of Daddy Mirror Fund part 2/3
11 July 2008Time to add some stocks to the Decade of Daddy Mirror Fund™ (see prior post “Decade of Daddy Mirror Fund” July 2-08):
All buys:
10,000 BMO at $41.80
25,000 BNS at $45.70
20,000 Bristol Myers at $21.14
20,000 CDN Oil Sands Trust at $51.26
10,000 CIBC at $52.26
15,000 Eli Lilly at US$47.67
25,000 Merck at US$36.75
25,000 Spectra Energy at US$27.27
We now have about half of the $40MM in the market.
Since we made our first investments on July 2nd, the market has fallen well into Bear Market territory. The original portfolio is down 1.3% since July 2nd, while the Dow Jones 30 is down just 1%. Ouch.
Over at the Decade of Daddy Fund™, OGE.UN is holding in there like a rock. For those who were curious, according to SEDI, KO bought $2.1MM (5%) of the $40MM OGE IPO.
UPDATE: July 14th at the end of the trading day:
All buys:
50,000 BMO at $40.00
20,000 BNS at $44.01
30,000 CDN Oil Sands Trust at $50.95
35,000 Duke at US$17.21
75,000 JP Morgan at US$31.69
75,000 Teranet at $8.78
That takes us to about $28.6MM of our $40MM mirror fund in the market. Wonder what KO’s been buying amoung the market wreckage?
Not Blackstone at US$14.81, nor Starbucks at US$14.00, nor GE at US$27, nor Citi at US$15.222, nor Fortress at US$9.02, nor Rogers B at $36.50. None of those fit the “get paid while you wait strategy”. Maybe JPM and Manitoba Tel at $40.58.
MRM
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