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Update: November 4th 2008
I’m starting to slowly build up small positions by cherry-picking good values. There are plenty of stuff available for pretty much fire-sale prices. I particularly like SLT (Sterlite Industries). They are one of the biggest copper/zinc manufacturers in the world. I had bought some when they had IPOed in the US last year for around $14. Today the stock is selling for $4.50 which is incredibly cheap compared to the company’s book value. Once commodities go back up again, we should be seeing strong gains with SLT ($8-$10 in a year). Having said that, I’d recommend anything that you buy today to keep at least for 3-4 years.

Update: August 10th 2008
As of today, I have liquidated all my positions and I’m completely in cash right now. The only way to make money in this market is to short financials (or pretty much everything) or put your money in commodities. However, I’d never ever go short on anything especially during such distressing times. Having said that, oil is a good short play if you’re interested. I see oil coming down to its original levels ($60-70) by the end of the year. Check out DUG.

Previously
This is what my portfolio looks like right now. This is a work in progress. Keep checking back in.

Apple Inc. (AAPL)

How can you resist Apple? I know I know what you must be saying right now. Apple has been a major disaster in 08, down almost
40pc since it hit 200. But isn’t this the time you accumulate more instead of thinking of an exit strategy? At 120 levels, if I were to have the cash, I’d be buying truckloads. Nothing is wrong with the company, they have been posting record profits and it’s gonna get better from here on. And even if we are in a recession, Apple would be the last one to get affected by one. And there’s the rebate check that’s gonna show up in the mail soon

Google Inc. (GOOG)

Update 03/12/08 - Ok guys, finally gave into the pressure. Got out of Google. One of my most beloved companies and it was not an easy task to get out of this position. Mr. Bernanke was a tad late with the announcement. But still I feel this company has great potential. Our kids and grandkids will talk about the mighty Google one day. Till then, I’m gonna play it safe

Previously
Google Google, the mighty Google. This has had the same story as Apple, down from 747 to 508 as of today. I got in at 500 and I do kick myself for not having sold in the 700s. Even though I cut my position by half recently (with 0% gain), I still believe in the growth story. Once the Doubleclick deal goes through, there would be a whole new set of options for Google to tap into. It might lose out on the Wireless auction but either ways it’s a win-win situation, or lose-lose, if you will. Android has had tremendous response in the Barcelona Mobile Conference recently. So, 2008 must be a major turning point when it comes to Google’s business direction. With all of this said, I still feel a little uncomfortable with the fact that they have missed estimates on 2 occasions in the last 4 quarters. Let’s wait and see what GOOG has in store for us. I, for one, am holding.

Freeport Morgan Copper and Gold (FCX)

Cognizant Technologies (CTSH)

Sold CTSH for a small profit. Looks like all Indian outsourcing providers are going to continue to take a beating in the next few months owing to the dollar’s continued depreciation. Cognizant is a wonderful company with a solid management team but I’m gonna be on the sidelines for some time until the broader market catches up.

MEMC Electronic Materials Inc. (WFR)

Tidewater Inc. (TDW)

Shanda Interactive Ltd. (SNDA)