Now that 2007 has come to an end, I would like to sum up how my stock recommendations from the year fared. There is no denying that my buy recommendations proved to be poor in that period. The following table summarizes my picks.
While none of the stocks has performed particularly well, with Tsakos Energy Navigation Ltd. (TNP) being the only one to outperform the market since the date of recommendation, Syneron Medical Ltd. (ELOS) has suffered a particularly steep drop since my September 20 recommendation.
Words of Caution
Even though I did not make any recommendations to short stocks, there were some precautionary posts which turned out to be prescient. These were: Repeat of 1973 – 1982?; Bad news is good: Doublethink in the stock market; and Deleveraging and volatility – The Icelandic example.
The post about Iceland and leverage is my favorite. It discussed excesses in the financial system and described Iceland as a microcosm of extremes in that regard. Since that post was written, on August 21, until the end of the year, the ICEX-15 stock index fell 22.3%. Since the beginning of the year the index has fallen an additional 14%.
