Putting extra cash reserves to work- bought: COF, CSCO & ALK

I’m keeping the majority of my cash reserves available for the right entry point into the Energy/Oil sector.

That being said, today I took advantage of some market weakness for myself and for portfolios that I manage which are holding high cash positions (primarily new clients over the past six months).

Continuing this year’s model portfolio themes, I purchased:

  • Value-
    • Cisco (CSCO)…literally a “dog of the DOW”
    • Alaska Airlines (ALK)…sector weakness on recent Spain terrorist attack & short term worries of increasing airline capacity. ALK is a healthy niche player in the sector and I believe situated well for long term growth or as an acquisition target.
  • Banking Sector-
    • Capital One (COF)…this brings my holdings of US Banks up to four, where I’ll most likely stop.

So many “experts” are worried about a market correction, that the contrarian in me is skeptical, and thus taking advantage of weakness.  If you’re not a regular listener to the Wealthsteading Podcast  [what the heck’s wrong with you???],  here’s a quick 12 minute episode where I discuss the THREE main factors driving the success or failure of our current stock market:   http://www.wealthsteading.com/245

Spoiler ALERT- it’s been this way for the past three years !

As always, invest with caution.

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The Robots are Coming: A Human’s Survival Guide to Profiting in the Age of Automation  available at AMAZON and all fine bookstores.

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Listen to the Wealthsteading Podcast to receive updated market commentary:

www.wealthsteading.com

The 10 Wealth Building Principles can be heard at:

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