Sold my holding in SAFT. Held since August last year, received a few dividends watched the stock price go up, but though the company is cheap in terms of P/E it's not going anywhere. Didn't see them addressing their situation in the regulated MA car insurance market with falling regulated premia by making any initiative to invest in new products. Or do anything on the investments side. The price seems to have peaked for the time being and so I got out. Made a 22% annualized rate of return. Wish some of my other languishing investments could do as well as that :) For example, Sears, which I hold for some reason, while I wait for Eddie Lampert to pull a rabbit out of a hat. Released earnings, or rather "losings" this morning. Considering the surprise earnings shortfall the stock is not doing too bad... so far... I've only lost $55 since "investing" in this company, though I had a nice profit at one point...
P.S.
The oil market just went nuts (as did everything else) when the U.S. petroleum inventory report came out:
The oil price seems to be the main factor driving stock markets in the last few days...
2 comments:
You mean when the oil price goes up the market goes up, and when the oil price goes down the market goes up?
LOL - both oil and stocks have been going up -but intraday or over a couple of days the US is negatively correlated with oil clearly - the market would be even higher if not for the rise in the oil price. Australia, though as I mentioned would not be as strong it seems if not for the rise in the oil price, though this doesn't make a lot of sense as I've blogged.
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