Jay's Portfolio 

     

Last updated on October 20, 2008
 

STOCKS – 13.1%

Gold Stocks – 2.5% VGZ, USERX, SA, AUY (largest positions listed first)

Silver Stocks – 4.3% SSRI, SLW

Energy Stocks – 3.3% SU, VLO, CHK

Airline Stocks – 3.0% Rogers’ package

 

PHYSICALS – 48.3%

Gold – 7.9%

Silver – 18.4%

DAG – 1.2%

Oil & Gas Interests – 20.8%

 

CASH – 37.5%

US$ - 19.1%

FXA – 2.4%

FXC – 3.3%

FXF – 2.5%

FXY – 7.2%

Chinese Yuan Deposit – 3.0%

 

PUTS & CALLS – 1.1%

 

TOTAL – 100.0%

 

TRANSACTIONS – Oct. 10 & Oct. 20, 2008

I bought a very small position in Chesapeake Energy (CHK), the largest natural gas company in the US, because the panic selling drove it down from a high of 74 to 12. The CEO of the company was forced to sell a $billion worth of his own CHK stock because of a margin call on other investments. 

I also added a small position to my SSRI at 8.90 because the panic selling drove it down from 45 to 8, and they haven’t sold a single ounce of their over one billion ounce reserve, which is like having it in a vault awaiting higher prices.

I sold my tiny position in China Foods (CHFHF) to help offset capital gains taxes on the sales I made in March to raise my cash allocation.

I bought a 1.2% position in DAG, the agricultural commodity ETN mentioned in Letter 33. This is my only investment in agricultural commodities. Rogers has been buying them recently. I’m prepared to add to this investment. DAG is down 65% from its high, so it has some real potential when the commodity bull resumes, but it also has risk because it is funded with commodity futures contracts, so be careful. Limit your investment to what you can comfortably risk. 

These are all my transactions since I last reported, with the exception of puts and calls, which I don’t report individually but show the amount invested in them in the portfolio.
 

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Biblical Economics - what most people don't know the Bible teaches about economics
All I Have Commanded - an exhaustive list of what Jesus expects of His followers

WORDS WE HOPE TO HEAR ONE DAY
"Well done, good and faithful servant; you were faithful over a few things,
I will make you ruler over many things.  Enter into the joy of your lord" (Mt. 25:21 NKJV)
 WORDS ABOUT INVESTING
If you have not been faithful in the unrighteous mammon, who will commit to your trust to true riches?" (Lk. 16:11 NKJV)

WORDS OF WARNING
The Apostle Paul wrote, "Now godliness with contentment is great gain. We brought nothing into the world and it is certain that neither can we take anything out. So having food and clothing we will be content with that. But those who want to get rich fall into temptation and a snare and into many foolish and harmful desires, that plunge people into ruin and loss; because the love of money is a root of all kinds of evil; in their greediness some have been led away from the faith and have impaled themselves on many distresses." (1 Tim. 6:6-10 NKJV)
 TERMS OF USE
This information is public domain.  Jesus said, "Freely you have received, so freely give." (Matthew 10:8b)

DISCLAIMER
The information in these letters is the responsibility of Mr. E. Jay O'Keefe, but all your decisions are your own responsibility.
This web page was last updated on 11 January 2009 .