May 27, 2020 08:33 AM RSS

Morning Matter's Portfolio Update, Closed Out Verifone (PAY) Today - Up 28.60% In 2018

  • Wall Street Rebel | Geoff Garbacz
  • 04/10/2018 06:50 PM
Morning Matter's Portfolio Update, Closed Out Verifone (PAY) Today - Up 28.60% In 2018

Today we thought it made sense to give an update on our Morning Matter's Portfolio that can be found on our sister publication We began the Morning Matter's Portfolio ten years ago in April of 2008.

Since then, the portfolio is up 995.64% on a cumulative basis. There have been 84 winners to 37 losers. If you ran the list as a 12 stock portfolio, the return is 495.80%. So far this year we had been 67% invested with 8 longs and 4 open positions. We now have 7 longs and 5 open positions thanks to closing out Verifone (PAY) that has risen 28.60% for the year. A bid for the company happened after the close yesterday and we closed out the position today.

So far this year the portfolio is up 2.49%. The S&P 500 is down -0.63% and the Russell 2000 is up 0.52%. With 5 positions in cash we have 42% cash and will be adding more names as we come out of the corrective action seen since February.

We will likely have another takeout play in the next few weeks as CBS and Viacom (VIAB) decide to merge. We remain long Viacom (VIAB) and look to close it out in the high 30s or low 40s, what CBS should pay for the company.

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