Friday, December 31, 2004


Strong end to what turned out to be a good year

Up $5000 today, bringing this week's gain to $32,924. I also sold my small position in perrenial pump and dump favorite BOSC early this morning for $4.80 per share when the company's stock price, like so many times this year, jumped 50 percent for no good reason.

On the whole, this turned out to be a good year, with my porfolio up 57 percent. As I mentioned in an earlier post, I think next year and indeed the next 5 years will not be good ones for the stock market. As a result, I'm going to be increasing my short positions. Also, in order to prevent the sort of meltdown that my portfolio experienced this summer when I took a huge "can't lose" position (over 30 percent of my portfolio) on one company only to have it explode in my face, I will be strictly adhering to the rule that no single company can be worth more than 10 percent of my portfolio.

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