990601 Portfolio down by 13.0 points w/e July 30
Tuesday, August 2, 1999
Unit values fell from $C21.91 (990723) to $C19.73 (990730) i.e. from accumulated gains of 30.7% (990723) to 17.7% (990730).
During the week 3 out of the 4 stocks went down in price, Jaws Technology remained flat because of the lawsuit filed against Jim Morrison (the brains behind the Jaws' encryption algorithm, left Jaws earlier this year) and two corporate financiers. Finet, the mortgage broker, has been going down recently (accounts for 54% of this week's portfolio loss) because of comments made by Steve Harmon that he prefers E Loan ( Finet's competitor) because Eloan's revenue though smaller, has less losses than Finet. I disagree to this line of reasoning as Bid.com has less revenues and losses than eBay but is not necessarily a better investment. Both Eloan and Finet are at different stages in their execution of their business models and hence such statements are very unfair.
Homeseekers fell by 94 cents for the week due to profit taking. In a choppy market such as we currently have investors continue to lock in their gains continuously.
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