Monday, July 21, 2014

Idenix: Almost There...

Today, Merck (Ticker: MRK) announced that it has received HSR approval for its acquisition of Idenix Pharmaceuticals (Ticker: IDIX):

“At 11:59 p.m., Eastern time, on July 18, 2014, the waiting period applicable to the Offer and the Merger under the HSR Act expired. Accordingly, the condition of the Offer relating to the expiration or termination of the HSR Act waiting period has been satisfied.”

It looks like this is on track to close when the tender expires on August 8th. I’ve been adding to my common at ~ $24 and have a full position (also sold out of the money Puts). Now just make sure that a black swan does not show up!

Thursday, July 03, 2014

Portfolio Reflection

I’ve been reflecting on the overall composition of my portfolio and realize that my top four holdings (Constellation Brands (Ticker: STZ), Vertex Pharmaceuticals (Ticker: VRTX), VISA (Ticker: V) and Apple (Ticker: AAPL)) currently make up ~ 59% of my portfolio value. Obviously, I have strong conviction with these positions and plan to hang on to them for a while. As you know, I also utilize special situation plays to add a bit of alpha to my portfolio. The special situation plays have positively impacted the performance of my portfolio. I plan to continue to utilize a growth investment theme in conjunction with special situations plays. I am very comfortable with my current portfolio and do not plan to make any major changes for the time being.

Here’s a summary overview of my current positions. I’m not going to talk about each of them, but I think you get the idea of my investment style. I still enjoy this game very much in trying to beat the market. If I didn’t believe that I can beat the market, I would simply invest in a low fee index fund. I stay far away from actively managed mutual funds since the fees they charge in comparison to their performance are not worth it.