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That's it. My taxable account is officially in positive territory (again) for the year. After the vicissitudes of the summer there was a lot of damage to repair. But the year looks like it may end brightly.

 

In the spring I got way overcommitted to CKCM, which repeatedly disappointed before getting bought out in such a way as to recoup some but not all of my losses. Some better investment choices, such as reupping on ASEI when it seemed like it could do nothing but make new lows and a few small but timely recent purchases (eg SIRF, NVT, VLCM, CNCT, ISV), and a general recovery in my holdings, have helped to repair the rest of the damage.

 

I have also been waiting for some of the stories I believe in to come true. ISRG which started the year by running up to the high 130's has spent the rest of it since the first quarter results were released bouncing between 120 and 80. I have taken the opportunity to add a couple of times in the 90's but I am still waiting for the almost limitless promise of this stock to pay off.

 

Similarly, Universal Display, which I believe has great potential, has meandered through the year, but the payoff may finally be at hand. So while I recognize (and from time to time kick myself for) the fact that I have underperformed the booming market this year, I remain cautiously optimistic that some of the many good companies that I am invested in are due to repay my patience and that meaningful upside beckons in the coming months.

 

It certainly has been a great fall. I can only hope that the year finishes up the same way. It feels like good times (although the world beyond is increasingly in upheaval).

 

 

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