I also own four gold mining plays: Newmont Mining (NEM), Goldcorp (GG), Agnico-Eagle Mines (AEM) and the Market Vectors Gold Miners ETF (GDX). NEM, GG and AEM have reported good quarterly results, and if the price of gold holds up, I expect all these to do well. GDX is a modified market capitalization-weighted index of publicly traded gold and silver miners. I bought GDX to ensure I’d get proper diversification of major gold miners.
In the tech/media/telecom area, I hold the following stocks: Microsoft (MSFT), Geeknet (LNUX), DirecTV Group (DTV), BCE Inc. (BCE) and a small position in Media General (MEG).
MSFT is up a lot since I bought it for less than $19 a share, but I’ve held on since it looks to have more upside. The company is entering its strongest product upgrade cycle ever. LNUX is a small outfit with a collection of web-related assets. Its e-commerce business is more valuable than the market cap. It will be interesting to see what management does. I have sold enough of DTV to get my original capital out, so the holding is a free ride for me. MEG has been a disastrous investment, and represents permanent loss of capital. BCE pays nice dividend in Canadian dollars, which feels good since I’m living in the US.
In the property & casualty insurance sector, I own Fairfax Financial (FFH/Toronto), EGI Financial (EFH/Toronto), and NKSJ Group (8630/Tokyo). Fairfax and EGI are based in Canada and NipponKoa in Japan. Fairfax is one of my largest holdings in the portfolio, but I’ve sold enough of it to get my original capita out, so it is a free ride. NKSJ formed out of the NipponKoa merger with Sompo Japan earlier this year.
King Pharmaceuticals (KG) recently got hammered because it looks like its new tamper-resistant pain drug won’t get government approval.
Cheung Kong Holdings ADR (CHEUY) has been up nicely since I bought it during the global financial panic. Li Ka-shing has been buying the stock.
I continue holding Capital Southwest (CSWC) and a small position 3i Group PLC (III/London). CSWC is up recently yet still sells for less than book value. I expect to hold this stock for years to come. And it is the only stock I own where my broker is instructed to reinvest the dividends. 3i is down a lot since I bought it several years ago. It has made some very good payouts in the past, but I must say it may prove to be a lousy investment like MEG.
Lastly, I hold Superior Industries International (SUP). I don’t expect much from this until things pick up in the auto sector. Yet management maintains a strong balance sheet and I’m patient with the dividend near 4%.
My cash position is relatively small -- right around 5% of assets.