Published Wed, 26 Dec 2018 01:41:32 -0500 on Seeking Alpha
Note that due to reader requests, I've decided to break up my weekly portfolio updates into three parts: commentary, economic update, and the new "best stocks to buy right now" series. This is to avoid excessively long articles and maximize the utility to my readers.
This week's commentary explains three essential facts investors need to know about the current market meltdown.
Due to the holidays this week, there is no economic update (for two weeks).
As I explained in my portfolio update 63, I'm now focused on paying down margin and thus won't be making changes to my portfolio for the foreseeable future. In fact, I've now realized the wisdom of Buffett's warning against using margin.
"My partner Charlie says there is only three ways a smart person can go broke: liquor, ladies and leverage...Now the truth is - the first two he just added because they started with L - it's leverage... It is crazy in my view to borrow money on securities... It's insane to risk what you have and need for something you don't really need... You will not be way happier if you double your net worth." - Warren Buffett (emphasis added)
The worst December for stocks since 1931 (and that record might still be broken) has shown me that it's not enough to minimize the risk of being wiped out (via a margin call). The risk of a total loss of capital must be zero. After all, even if the odds of... Read more
|Stock name||Last trade||P/E||Earnings/Share||Dividend/Share||Dividend yield|
|TANGER FACTORY OUTLET CENTERS||14.64||19.0||0.77||1.42||9.59|
|MAGELLAN MIDSTREAM PARTNERS||66.59||11.1||5.99||4.05||6.21|
|WALGREENS BOOTS ALLIANCE||50.48||9.9||5.10||1.83||3.49|
|ILLINOIS TOOL WORKS||150.22||20.2||7.45||4.28||2.73|
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