Bought 100 Shares of Avalonbay Communities
The Value Investment Fund purchased 100 shares of Avalonbay Communities Inc. for $161 per share including transaction fees.
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Bought 400 Shares – Wells Fargo
The Value Investment Fund paid $39.51 per share including transaction fees of $1 per share for Wells Fargo. Total investment was $15,804. The Fund now holds 500 shares of Wells Fargo.
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Sold PUT Contract for Essex Property Trust
The Value Investment Fund sold a PUT contract on Essex Property Trust for 100 shares.
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Sold Comerica Bank Two Hours Later
One of the advantages of value investing utilizing pools of similar stocks from a single industry is that every now and then, like once a decade, a unique opportunity will present itself to take advantage of the knowledge and hard financial analysis work one does. In this case, it happened today. Comerica Bank experienced a roller coaster price drop and recovery in one day. It’s intrinsic value was calculated to be greater than $40 per share and the price dropped this morning to just below $30 per share.
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Bought Comerica Bank
Today, the Value Investment Fund took advantage of the chaos in the banking industry and purchased 1,200 shares of Comerica Bank after the the share price dropped below $30 per share.
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Sold PUTS at Year End 2022
PUT contracts are a leverage tool using by value investors. When the overall pool of investments are dipping, it is time to take advantages and sell PUTS.
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Sold Wells Fargo Position
The Value Investment Fund sold its position in Wells Fargo in preparation for two sets of PUTs that the Fund will have to comply with the terms of the PUT contracts.
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Purchased 100 Shares of Essex Property Trust, Inc.
On Friday afternoon, just prior to market closing, this site’s Value Investment Fund purchased 100 shares of Essex Property Trust, Inc. at $221.21 per share.
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Sold PUTs on Norfolk Southern Railroad
This morning, 09/29/22 at 10:37 AM, the Value Investment Fund sold 200 PUTs on Norfolk Southern Railroad at $6.20 netting $5.20 each after transaction fees.
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Value Investment Fund – End of June 2022 Report (Halfway Through 2022)
Overall, the Value Investment Fund is performing remarkably well in relation to the balance of the market during the first six months of 2022. This is even with the error associated with the failure to sell Wells Fargo back in second week of January. Overall, the market is down at least 15% as indicated by the DOW; this reflects the top 30 companies. The reality is that the market overall is down about 21% (S&P 500, S&P Composite 1500) since January 1, 2022. The S&P 500 and Composite 1500 are a more conservative comparative indices to this Fund’s selection pool of investments. As stated above, if using the NASDAQ 100, the Fund is simply crushing the market with Fund down 5% and the NASDAQ 100 down 29%.
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