You might have noticed that there was no Stock Of The Month for September 2008.
That's because I didn't buy any stocks - and hopefully you didn't either. But when the bailout that nobody wants, but everybody needs, is finalized, things will soon be back to "normal".
I sold two stocks last month. On Sept. 19th, Companhia Siderurgica Nacional (SID) was down 38% and its dividend wasn't compelling (i.e. large) enough to keep. On Sept. 23rd, Goldman Sachs (GS) was down 39% and went from the best investment bank in the world, to just another regulated bank. (Full disclosure - I'm very much in favor of increased regulation/transparency/accountability; I just don't want to own a stock whose future profit potential significantly diminished overnight. But if you need to own a bank stock, GS is the one.)
Apple (AAPL) and Google (GOOG) are arguably the two best brands in the world today. Their stock, like everyone else's, was washed out over the past month, declining 33% and 14% respectively. However, their long-term prospects are intact - Apple owns consumer electronics, and Google owns the internet. One bad month won't change that.
Here's my current portfolio. As always, I believe in all of these stocks - until I sell them.
Dominion Resources Black Warrior Trust (DOM) 13.27%
Google (GOOG) 10.01%
Terra Nitrogen (TNH) 9.66%
Southern Copper (PCU) 9.31%
Apple (AAPL) 8.34%
Ace Limited (ACE) 8.06%
Frontline (FRO) 8.01%
Tesoro (TSO) 5.54%
Tidewater (TDW) 5.21%
Hansen Medical (HNSN) 5.21%
Diana Shipping (DSX) 4.95%
Nintendo (NTDOY.PK) 4.28%
Apache (APA) 4.17%
Vestas Wind Systems (VWSYF.PK) 2.91%
