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jtdaniel  Jeff

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  • jtdaniel commented on Sheila Dang's article 05-01 06:52
    Ken Fisher's New Buys in Q1
    During the first quarter of 2015, noted investor Ken Fisher (Trades, Portfolio) added 42 new stocks to his portfolio, according to GuruFocus Real...
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    jtdaniel 05-01 07:52
    • Mr. Fisher has 565 stocks, including 42 new purchases. I would rather just buy SPY and EFA and save on the expenses.
  • jtdaniel commented on Thomas Macpherson's article 04-27 18:25
    The Quest for Downside Protection
    “Downside protection in your investment portfolio is like a condom. You usually don't realize it failed until too late and it’s ultimately an...
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    jtdaniel 04-27 19:25
    • Hi Tom, 

      Thank you for another very timely and thought-provoking article. I agree with Grahamites, with the caveat that successfully playing mergers usually involves margin. As an indvidual investor, my favorite strategy when stocks are expensive is to hedge my taxable holdings by going to cash and short-term bonds in my tax-deferred portfolios. That move gives me the comfort of not really caring whether the market goes up or down, and the confidence to step out on a good special situation. Best, dj       
  • jtdaniel commented on The Science of Hitting's article 04-26 14:46
    Thoughts on Portfolio Concentration And Position Weightings
    Recently, fellow GuruFocus contributor Canadian Value posted the transcript from Stanley Druckenmiller’s speech to the Lost Tree Club from earlier...
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    jtdaniel 04-26 15:46
    • Hi Science,

      Great article and several excellent reader comments. A little over 30 years ago, I started out with just Exxon (taxable) and the S&P 500 index fund (401K). It was boring, but I have seen some very interesting portfolios do worse. I now hold a "discretionary" portfolio of 14 stocks, pending the imminent spinoff of Liberty Global's LiLac tracking stock. This portfolio has 66% of funds in five stocks and 85% in ten holdings (Exxon, Berkshire, Microsoft, Abbott Labs, Abb Vie, American Express, Wal-Mart, Waters, Wells Fargo, and Coca-Cola). The money market accounts for 7%, so technically I have  92% of the account in  top 11 holdings.

      As to the relative weighting among the top 5 or 10 stocks, for me it is not a concern. Over time, I just did what I could when there was available cash and a low-risk idea. No one else seemed to want Abbott in 2003 or AXP in 2008, but both virtually jumped off the page of my daily watch list. I see no reason to rebalance them, but I do hope for the chance to buy more of each some day.Best, dj             
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