Report card

摘要

Over the last year I made 48 stock recommendations in this column—39 buys and 9 sells. The buys went up, but not enough to beat the market. I feel better about the sells. These stocks performed miserably, which is just what you want your sell recommendations to do. Forbes' statisticians give me an average relative-to-market performance of 89% for the buy recommendations. What this means is that someone acting on all the buys would have ended the year 11% poorer than someone buying the s&P 500 on the same days. The buys, but not the comparison index trades, have been docked 1% for commission costs.