investingfromtheright

I am retired and take educated guesses on all things financial.

November 08, 2006

November 9, 2006: Election, Iraq,Portfolio tidbits

We now have gridlock on the political front with a Congress that will not be able to override Presidential vetoes and the far left, thinking they actually won on philosophy, pushing a regressive/progressive agenda that most voters don't want and thus alienating 2008 prospects for the Democratic Party. Readers of this blog know that I have mentioned that we would be out of Iraq by the summer of 2007...military contract awards have so spoken. With Don Rumsfeld out, President Bush will listen to James Baker - and get out politically. Let's say: NO WAR FOR OIL to Iran. They will listen. And provide us oil and a stable shell of a country that was known as Iraq.

Although the political landscape has changed, one need not panic with a portfolio selloff. I believe that stocks will be performing very well, and that portfolios should be attended to just as they were the week before the election:carefully, but with confidence.

Here are a few of my recent portfolio tweaks:

I sold most of my position in BG.

I have added fresh cash and proceeds to purchase more Allied Waste (AW),Goodrich (GR), Power Shares Water Resources ETF (PHO), Claymore Yield Hog ETF (CVY), and created a new position in WellCare Health Plans (WCG).

In real estate, I have taken profits in one multi-unit dwelling and used the funds to purchase stock. My portfolio balance is about the same as what I posted last month
and meeting the target of a bit less real estate and a bit more stock by 12/06.

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