Thursday, August 11, 2011

Rebuilding three positions

Today I rebuilt three positions which were greatly diminished in the recent downturn. I added to my call positions in Alpha Natural Resources and Ariad Pharmaceuticals, and also bought common stock in Keryx Biopharmaceuticals. I was pleased to see recent insider buying at Keryx, which provides a bit more confidence in their prospects. The net effect of these purchases was to reduce cash to about 15% of the portfolio.