Tuesday, November 11, 2008

Sliding lower on a slow news day

Most of my portfolio companies were quiet in terms of news flow, which is to be expected for Veteran's Day. I actually had the day off from work, although many offices were open. As were the stock markets, which continued the recent slide lower. With the major averages down about two percent, most of my holdings did even worse. Two notable exceptions were Inspire Pharmaceuticals (calls 2.6% of portfolio), which was up, and Alnylam (19.9% of portfolio), which was down just a couple of pennies. Alynlam has held up well as most of the market has cratered in the past year, so it has steadily grown as a percentage of my portfolio. I'll reduce that relative percentage by adding to positions in other companies over time, but have no plans to sell my shares just now. They actually had some news out today, one of my few holdings that did.