January 31, 2012 (1:15 PM Eastern) Comments

Okay, I’m back from my cruise. Excellent weather sunny and just over 80 degrees Fahrenheit most of the time (day and night). Lots of air conditioning to keep cool when that is wanted. It’s a good way to travel. Others to ALL the work. It’s affordable. We were on Royal Caribbean. At least on our late January cruise this is definitely an older crowd. Very few families with kids. Almost no college aged people. Just us wretched boomers spending our money. I am have absolutely no complaints about the trip and the service whatsoever.

I notice Royal Caribbean shares RCL on New York have a trailing P/E of 9.35 according to Yahoo. I may take a look at their annual report when it releases in a month or so. Many businesses could learn a lot about customer service from this company. I also found the four islands we visited work hard to keep tourists happy (and spending). Well trained and knowledgeable taxi drivers and tour guides for example.

The markets seemed to do okay during my trip. However Friday was down modestly  Monday was down modestly most of the day before a late recovery and today Tuesday the markets are again down a little. As always, there is certainly a chance that markets will decline at any moment due to world events. But meanwhile I am mostly holding. Noticing Melcor was up today I placed an order to sell what amounts to 18% of my Melcor shares at $14.25. As I have explained a number of times (and As indicated in my personal portfolio breakdown)  I have a large exposure to a few companies including Melcor. Also I bought additional Melcor and others on weakness this past Fall and it makes sense now to trim on strength.

I observe that the trimming I have done in the past couple of months on strength has cost me money as stocks kept rising. Still, it was definitely a good decision to trim. There is a difference between a good decision and a good outcome. Good decisions are bases on analysis, good outcomes — especially in the short term — are partly due to good analysis but with a huge measure of good luck thrown in.

We are about to enter the year-end earnings reporting  season in Canada. There will be lots of earnings reports in the next six to eight weeks. I am not sure if any Canadian companies have already report December 31 earnings.


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