Jul 2016 Update

Last month the sky was falling primarily on Brexit concerns.  Just a few short weeks later, the S&P and DOW are setting all time records.  Similarly you can choose a Cleveland view of the US economy (“it’s on the cusp of a recession”) or the Philadelphia view (“Tremendous progress has been achieved”).  Sadly reality probably sits squarely in between.  Meanwhile, I’m keeping an eye on Italian banks.  For good measure, the S&P outperformed my portfolio for the first time this year – 3.56% vs 3.0%.  For the year though, I’m ahead by 11.65%.  Headlines related to my portfolio this month include:

  • Jul 12 – Fed approves FNFG/KEY merger
  • Jul 19 – Fed approves FCLF merger
  • Jul 22 – PNY suspends DRIP/DSSP eff 7/31 (due to DUK merger), LB to open 1st US La Senza store in Columbus (Fall 2016)
  • Jul 29 – FNFG/KEY merger completed

Blog Updates

  • Updated the Blog Directory
  • Updated Goals (almost)
  • My updated portfolio will be posted late (waiting for KEY shares)
  • On target to roll out Blog Stuff next week

Portfolio Updates

  • Added to AMTD.
  • Added to HAS (on weakness).
  • Added to SBUX

Portfolio Sale

In moving HWBK from Schwab to AST, a fractional share was sold (fees waived).  I intend to repurchase this (plus more) following the 30 day waiting period covering wash sales.


  • July delivered an increase of 31.2% over July 2015.  This was due primarily to realignments I’m doing to prepare for the PNY/DUK merger (expected cash infusion).  Special dividends were paid by CBRL and MAIN and a stock dividend by (HWBK).
  • July was up 16.1% from the prior quarter due to a semi-annual dividend.
  • Announced dividend increases currently average 12.74% with 56.25% of my portfolio having at least one raise so far this year.
  • Through July, dividends received were equal to 74.5% of all 2015 dividends, keeping me on pace to exceed last year’s total in early October (as compared to 2015 being Sept. 9th).

3 thoughts on “Jul 2016 Update

  1. Congrats on another good month Charlie 🙂

    You’re right, it’s funny how much negative noise the market can make at possible bad spots – yet we’re hitting all time highs everywhere. I have a feeling that over the next couple of years there will be some genuinely bad news (when the UK actually exits the EU, or if the Netherlands votes to leave). Bigger dips do tend to happen on average every 10 years or so.


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  2. Thanks Tristan! I’ve been trying to front load the year since the PNY/DUK merger should complete by year end – which will mess with my allocations and result in a tax payment since it’s cash. I expect 4th quarter to take a hit, but there are worse problems to have.

    You’re correct on the cycles but this one doesn’t “feel” like any I’ve seen, perhaps due to the world being more interconnected than ever before. I doubt any country leaving a trade bloc would be more than a minor hit. I believe the real question becomes will Germany alone be willing – or able – to prop up weaker EU countries (e.g., banks). Just my thoughts …

    Have a good week!


    • That is indeed my point about the EU. Of the 30ish members there are few net contributors. Germany is one, the UK another. The Netherlands another. If the UK and the Netherlands leave, I don’t think Germany will be willing to make up the difference. That could be a rollercoaster at that point.


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