The current news reports claim that Tropical Storm Fay will cross over Florida, exit into the Atlantic Ocean, gain strength, and then boomerang back to hit the Sunshine State again. Well the projected path of that second hit takes Fay right at me. Seeing this kind of storm wreak havoc is nothing new here in Florida and it made me think how Fay is a lot like the current stock market. Just when we think the market is going to start to crawl out of the abyss, wham! It turns around and smacks us in the face. I’m just thankful I’m not this guy, who tried to kite surf today in Tropical Storm Fay.
The Thoroughbred Folio has given back some ground with the market over the last two sessions. Inflation fears and housing starts are taking their toll. Luckily we had four more dividends over the last week which has helped us reach a new milestone. Nucor (NUE), Abbott Labs (ABT), Procter & Gamble, and Clorox all delivered. We have now exceeded 2% yield on cost by breaking the $60 mark in dividends. It is concievable that we could reach the 3% mark by the end of the year. We are two-thirds of the way there now. Just imagine if this had not been a bear market.
Not much happening at the top of the Thoroughbreds. Rohm and Haas (ROH) has maintained its lead over the rest of the field. Wrigley (WWY) is still solidly positioned in second. Rounding out the top three, Anheuser-Busch (BUD) takes back the third spot narrowly edging out Family Dollar (FDO).
No rest for the weary at the bottom. Regions Financial (RF) has given us a new milestone that we would rather not track. The troubled regional bank has declined over 62% to give us the largest loss ever for a stock in the Thoroughbred Folio. KeyCorp (KEY) maintains a healthy lead over Regions as our second loser. While Gannett (GCI) just continues to depress us all with its poor performance that can’t be attributed to much of anything except refusing to embrace the Internet and digital media with a meaningful strategy. However they have embraced handing out pink slips to 1,000 employees.
Thoroughbred Performance (Week 35 of 52): $-252.92 (-8.43%) Dividends To Date: $60.97
Top 3 Stocks
- Rohm and Haas $28.47 (37.95%)
- WM Wrigley $24.38 (32.51%)
- Anheuser-Busch $22.05 (29.40%)
Bottom 3 Stocks
- Regions Financial $-46.89 (-62.52%)
- KeyCorp $-37.39 (-49.86%)
- Gannett $-34.49 (-45.99%)
Stocks used in this post:
- (ABT: 50.35, 0.00%, Yield: 2.79%)
- (BUD: 0.00, N/A, Yield: N/A%)
- (FDO: 25.07, 0.00%, Yield: 1.95%)
- (GCI: 6.09, 0.00%, Yield: 26.27%)
- (KEY: 6.91, 0.00%, Yield: 18.86%)
- (NUE: 25.52, 0.00%, Yield: 8.50%)
- (RF: 7.66, 0.00%, Yield: 16.19%)
- (ROH: 71.25, 0.00%, Yield: 2.25%)
- (WWY: 0.00, N/A, Yield: N/A%)
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