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I don't need to repeat myself and complain about how awful a trading week we just had. At least for those of us who are going long on investments.
The weeks do seem to fly by as once again I am back at my keyboard typing away about a weekend review. These reviews are my own attempt at some sort of 'quality control' or review to assess the success and failures of my investment selection process and to encourage some of you to dig into the blog where there are literally hundreds of stocks that I have reviewed over the past four, almost five years.
Anyhow, last week I reviewed the selection(s) from the week of June 26, 2006, so let's move ahead a week and see how things worked out for the stock(s) selected the following week, the week of July 3, 2006. My reviews assume a 'buy and hold' strategy for investment. In practice, I advocate and follow a very disciplined (?) investment strategy which demands of me to sell my losing stocks quickly and completely and sell my gaining stocks slowly and partially at targeted appreciation levels. This difference in strategy would certainly affect performance, but for the ease of analysis, I have always been assuming a 'buy and hold' strategy for these weekend reviews.
On July 3, 2006, I posted Sirenza Microdevices (SMDI) on Stock Picks Bob's Advice when the stock was trading at $13.52.
Sirenza was acquired by RF Micro Devices (RFMD); the acquisition was completed on November 21, 2007. As reported:
"Under the terms of the definitive merger agreement, each outstanding share of Sirenza's common stock was exchanged for a combination of 1.7848 shares of RFMD common stock and $5.56 in cash. Outstanding options to purchase Sirenza common stock were assumed by RFMD and converted into options to purchase RFMD common stock. Based on RFMD's closing stock price on November 13, 2007, the consideration for the outstanding shares of Sirenza stock is valued at $16.80 per share and represents an aggregate value of approximately $900 million, comprised of approximately $300 million in cash with the balance in RFMD stock. As a result of the transaction, Sirenza common stock has ceased to be publicly traded and is no longer listed on Nasdaq."
Thus, the stock pick has an appreciation of $3.28 or 24.3% since it was "picked".
As the stock is no longer traded, I do not have a rating on this company.
Thus, for the only stock picked that week in July, 2006, the stock appreciated 24.3% until being acquired. A very acceptable performance in light of the current difficulty the market is facing.
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Wishing you a better week starting Monday! Be well!