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Scorecard of 11 Recommendations

In last post titled "Is it Time to Buy", I recommended 11 stocks. My post was so timely as markets have returned to normaly with discount rate cut of 50 basis points and Fed and Bush Government all assuring that they are not going to let market turmoil impact economy. Q2 GDP also came in very strong at 4%. Let's see how my recommendations did in last 2 weeks:

Recommendation Symbol Price on Aug 17 Price on Aug 31 2-week Gain Target Price
Profunds Ultraemerging funds UUPIX 33.56 45.41 35% 50
Ishares Trust FTSE/Xinhua China 25 Index FXI 119 150.31 26% 150
WCI communities WCI 7.76 9.32 20% 12
Apple AAPL 117 138.48 18% 150
ICICI Bank ADS IBN 38 44.45 17% 47
Alcoa AA 32 36.53 14% 40
Limelight Networks LLNW 7.56 8.25 9% 14
Fidelity International small cap FISMX 25.58 27.68 8% 28
Vanguard Total International VGTSX 18.02 19.43 8% 20
Fidelity Leveraged company FLVCX 30.96 33.19 7% 35
Blackstone BX 23 23.13 1% 28

As you can see from above table, all recommendations did pretty good with best returns by Profunds Ultraemerging Funds (UUPIX) returning 50% in 2 weeks with China based EFT FXI close second with 26% returns. Worst returns were by Blackstone just returning 1% in 2 weeks (still not bad if you annualized it:-)

So now question is: Is it still time to buy or is it too late ?

With clam returning to markets, global economy still firing on all cylinders and given fed interest rate cut, I think it is still not too late to invest in stocks and mutual funds. S&P is trading at its lowest forward PE in many years and as long as global economies (especially Europe and Asia) are doing great, I recommend putting additional money to work. Even at current prices, I stand by my earlier recommendations since at target prices I have for-casted, there is still some room to extract returns from these.

India Recommendations:

Along with global markets, India markets have also gone thru a roller-coaster ride and slowly coming to normlcy. My current picks in Indian stock markets are:

  1. Hindalco (Rs 142) - strong aluminum player and its just matter of time when its valuations catches with world aluminium players. Target price if 200 in 18 months (returns of 41%)
  2. Mindtree (Rs 560) - This was one of the high-flying IPO in Indian tech industry. It went all the way to 1000 and came back to below 600 due to rising rupee. It has potential to go above 900 in 18 months (returns of over 50%)
/Shyam

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