December Monthly Report, and Where Is the Santa Claus Rally?

The December monthly report is now online. No transactions were made this month, following the changes we made in October and November. A few energy stocks crossed our radar screen, but none that we were ready to add to the DI portfolio this month.

In the December report, we discuss whether stock buybacks are good or bad for shareholders. There has been a debate within the media about the pros and cons of share repurchase programs. Since buybacks compete with dividends for corporate cash, we wanted to share the points made by both sides with you.