Sold QQQQ and bought LUK and BAM

I finally decided to sell my Nasdaq 100 (Ticker: QQQQ) today and used the proceeds to purchase Leucadia (Ticker: LUK) and Brookfield Asset Management (Ticker: BAM). So why did I make a switch into these companies? I wanted to diversify my portfolio a little away from the tech sector. The QQQQ was purchased in November 2002 at $27.57 and sold today at $40.65 for a total return of 47.45%. Not bad, but not great either… Anyways, last night I was reading an interesting article from The Street.com, Like Buffet, Only Better (click: here). I usually don’t pay much attention to stock recommendations from articles, but this one was well written and made a good case for LUK and BAM. I especially liked this quote from The Street.com about LUK: “What Leucadia does is, well, basically, anything its managers think will make them money.” Of course I went ahead and did my own research by doing a quick check of the 10K’s and the chart. The management of these two companies simply likes to make money and lots of it. Both passed my initial screen and I went ahead and nibbled on some LUK and BAM. So we’ll see…