David Dreman, the legendary contrarian investor, had a forgetable year in 2008. He thinks that we are in a depression. But he thinks that if stocks drop another 15% to 20%, they are likely to at least double from their current levels over the next five years. Trying to catch the market bottom is a loser's game. He is heavy in financials (still), oil and health care. These are his buys and sells in the first quarter.
This is the sector weightings of David Dreman's portfolio:
For the details of 's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=David+Dreman
- New Purchases: AEP, AES, AFL, AMP, ARE, BBY, BOH, BTU, CI, COH, CVG, CVH, DKS, DOX, EAT, EMR, EP, EXPE, FLR, FNA, FNM/PP, FNMFN.PK, FRE-PO, FST, GNW, HNZ, HOG, HST, IMA, LECO, LM, LNC, LXK, LZ, MD, MDP, MET, MSFT, NLY, NSC, NUE, NWL, OI, PFG, PG, POM, PTV, RJF, RNT, RSH, RX, SLM, STT, STZ, UNM, VIA-B, WAG, WFSL, WU, WYN, XRX, ZION,
- Added Positions: ALL, ATW, BAC, BGC, BJS, CAH, CAT, CBS, CEDC, CMA, CX, DOW, ETN, FDX, FITB, GE, GSK, HPT, HS, KBE, KMB, MI, MRK, MRO, MW, NEM, NOC, PM, R, SAFM, T, WFC, ZMH,
- Reduced Positions: AET, AUY, AWH, AXE, BCO, BHP, CB, CF, CHKP, DD, DLM, EIX, ENH, HCC, HERO, HIG, HTE, HUB-B, IAG, INTC, KEY, LLL, LLY, LO, MAT, MO, MWA, MYL, NBL, PAAS, PEP, PFE, PGH, PGN, PPL, RAH, RNR, RRD, RS, SJM, SY, UNH, UTX, WCC, WMK, WSH, XLF,
- Sold Out: AAN, AETUF.PK, AINV, AMGN, BGP, BNPUF.PK, BPFH, BPT, BTE, CENX, CPGCF.PK, DHT, EAD, EGLE, ERF, FBCM, FRO, IP, IWA, IWD, KOF, M, MMM, NFYIF.PK, ORH, PHT, PLLL, PQ, PWE, RCL, RSG, RTI, SGY, SHW, SJT, WLT, WMI, WTU,
This is the sector weightings of David Dreman's portfolio:
| Technology |  3.5% |
|---|---|
| Financials | 20.2% |
| Utilities | 1.3% |
| Telecommunications | 1.9% |
| Consumer Services | 9.2% |
| Health Care | 12.1% |
| Consumer Goods | 9.4% |
| Industrials | 15.1% |
| Basic Materials | 4.9% |
| Oil & Gas | 21.6% |
For the details of 's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=David+Dreman
