Strategies

Chris Rees September Monthly Investment Report (BAC, IMOS)

by Chris Rees|Published September 8, 2010

Author: Chris Rees

Disclaimer: Chris Rees owns BAC and IMOS in his Covestor TenStocks Model.

August 30, 2010: The S&P 500 has fallen approximately 13% between August 27, 2010 and its recent April 23, 2010 high and being 90% cash during this period was not a bad place to be. The lower market in August allowed us to put a bit more money to work. We added Chipmos Technologies (IMOS) and Bank of America (BAC). We believe both will contribute to long term future performance.

We expect the market to continue weak through to year end. With our still defensive stance of 65% cash, we are ready to put more money to work as opportunities present themselves but only in a patient, disciplined and considered fashion. All in all, we are pleased with how the portfolio has performed since its May 11, 2010 launch but we are also aware that short term performance is statistically meaningless. We are here for the long haul. We manage accordingly.

AUTHOR

Chris Rees

I am a self-taught individual investor and a portfolio manager with more than 20 years of experience. I focus on deep value and special situation investing. You can read more about me and the unique way I became a portfolio manager on my own website, located below my picture. I believe, my personal investment expertise is in creating and managing concentrated investment portfolios. I am featured in the book The Warren Buffetts Next Door: The World's Greatest Investors You've Never Heard Of and What You Can Learn From Them by Matthew Schifrin.

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