January 3, 2016

Our stock ratings as of today along with the closing 2015 prices will be used to track our performance in 2016. While we rate stocks all through the year we have always tracked performance onĀ  calendar year basis. For that reason, a special effort has been made to bring all the ratings up to date.

Valiant has been removed from the list because the report was out of date and because with all the uncertainty around the company at this time I did not think that I could judge whether it is now trading at a fair price or not.

The trading for 2016 is set to get underway with heightened tensions between Iran and Saudi Arabia (both of which are members of OPEC). No doubt, the markets will find many things to fret over as the year unfolds. Most years seem fraught with uncertainty as we live through them but then later looking back most years seem fairly benign in hindsight.

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