June 7, 2013 (DJIA 15,186.22, S&P500 1,633.87)
We have been focusing on purchasing utilities and some selective oil and gas companies . I have not seen much if any new monies, yet when and if it comes in, I would certainly be buying much of the utilities and oils/gas we already own.
Historically we look for holding long term and not changing positions. When working with taxable accounts, I often find tax efficiency to be a material benefit for investors. We have a current expected dividend yield of ~2.6% on all of our positions.
Price corrections in the stock market are the norm. We look to increase positions, when corrections occur. We are still finding value in specific investments. At the same time, we are seeing little to sell in our portfolios.
Changing the subject…..
I always have reminders or such on my whiteboards in my office. Before I erase them and start over, I transcribe them to the whiteboard section of our website.
https://www.rbcpa.com/WhiteBoard.html
I occasionally like to refer back to this section, to remember a situation, compare what I wrote to how it would have worked out today. Sometimes I am glad I passed, sometimes not.
Here are some of my favorites:
October 16, 2007 –“Warren purchased in 1981? Rates were 14%. What made him invest when alternative rates were so high? I could be incorrect on the date, and he may have discussed this in 1974.” I still don’t know the answer to that.
October 27, 2008 “Make it Stop!” – This was from a section of our website, during the pain during the financial crisis. Those were painful days. I think I learned alot from that experience, and have become a better investor because of it.
Our portfolios have an average year to date return through May 31, 2013 of 16.1%. Past performance may not be indicative of future results. Yet, as most of you know, we only believe in long term investing. We typically consider greater than 5 years to be “long term investing” for expectation purposes.
As always, we welcome the opportunity to discuss our outlook and investments with you.
Please feel free to contact me with anything you would like to discuss. Feel free to ask general questions on our Facebook page as well.
Ron
Ronald R. Redfield cpa, pfs
Redfield, Blonsky & Co. LLC
15 North Union Avenue
Cranford, NJ 07016-1103
https://www.facebook.com/RedfieldBlonsky
908 276 7226 phone
908 276 7274 fax
Disclaimer
If you are a client of ours, and if you have questions regarding the company or investment mentioned in this report please call our office. If you are not a client of Redfield, Blonsky & Co. LLC Investment Management Division and are reading these notes, we urge you to do your own research. We will not be responsible for any person making an investment decision based on these notes. These notes are a “by-product” of our research. We are not responsible for the accuracy of these notes. We are not responsible for errors that may occur in these notes. Please do not rely on us to monitor or update this or any other report we may issue. In theory, we could come across some type of data or idea, which causes us to eliminate our long or short position of the company or investment mentioned in this report from our portfolios. We will not notify reader’s revisions to these notes. We are not responsible to keep readers of these notes updated for changes or material errors or for any reason whatsoever. We manage portfolios for clients, and those clients are our greatest concern as it relates to investing. Certain clients of Redfield, Blonsky & Co LLC may not have the company or investment mentioned in this report in their portfolios. There could be various reasons for this. Again, if you would like to discuss the company or investment mentioned in this report , please contact Ronald R. Redfield, CPA, PFS (partner in charge of investment management division).
Information herein is believed to be reliable, but its accuracy and completeness cannot be guaranteed. Opinions, estimates, and projections constitute our judgment and are subject to change without notice. This publication is provided to you for information
Important Disclosures
- Redfield, Blonsky & Co., LLC (RBCo), only transacts business in states where it is properly registered, or excluded or exempted from registration requirements.
- Past performance assumes reinvestment of dividends and other distributions and may not be indicative of future results. Therefore, no current or prospective client should assume that the future performance of any specific investment, investment strategy (including the investments and/or investment strategies recommended and/or purchased by adviser), or product made reference to directly or indirectly in this presentation or on our website, or indirectly via a link to any third-party website, will be profitable or equal to corresponding indicated performance levels. The investment return and principal value of an investment will fluctuate and, when redeemed, may be worth more or less than their original cost.
- Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client’s investment portfolio. No client or prospective client should assume that information presented is a substitute for personalized individual advice from the adviser or any other investment professional.
- Historical performance results for investment indexes, such as the S&P 500, generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment-management fee, the incurrence of which would have the effect of decreasing historical performance results of the S&P 500 Index. Whenever RBCO performance is referred to, results have been reduced by all fees, including RBCO management fee.
- Returns for the RBCO portfolios have been calculated using actual time-weighted returns obtained from all accounts over the time periods indicated. All RBCO returns assume the reinvestment of dividends and are shown net of the investment management fees and all other expenses. Please see our form ADV for a full fee disclosure. Actual individual account performance may be materially different from our composite results.
- RBCO files an annual form ADV, which includes an easy to read brochure. Form ADV is a valuable read for anyone interested in learning more about RBCO. Additional information about Redfield, Blonsky & Co., LLC is also available on the SEC’s website at http://www.adviserinfo.sec.gov. The searchable IARD/CRD number for Redfield, Blonsky & Co., LLC is 128714.
- The S&P 500 Index is a widely recognized, unmanaged index of 500 of the largest companies in the United States as measured by market capitalization. The S&P 500 Index performance assumes reinvestment of all dividends and distributions and does not reflect any charges for investment management fees or transaction expenses, nor does the Index reflect any effects of taxes, fees or other types of charges and expenses. The S&P 500 Index is one of many indices and is not necessarily the most appropriate index when comparing performance results.