Hindsight’s 20/20. We started trimming back in April, and continued in June. Do we wish we’d trimmed more? Sure, doesn’t everyone? Is it too late to counsel readers not to get trapped hunting for dips and bottoms in a weakening overall trend? We obviously don’t think so, or we wouldn’t have done it.

I get ideas from a wide variety of sources and then do as much research as possible, looking at SEC filings and anywhere else I can glean useful information. Sorry, that’s about as specific a “process” description as I can give you because I’m not wedded to a particular process but rather to discovering potential value. The initial price target is based in part on a value analysis and in part on the price chart, in the knowledge that, like any battle plan, no price target survives exposure to reality indefinitely.

I don’t yet, but it’s an interesting name on my radar that I need to do more work on. I will follow up with you once I’ve done it.

These names came from our research, and they looked like compelling values last week that we hadn’t yet shared with subscribers, vs. prior portfolio recommendations that I know many readers already own. I fully expect we will move some current portfolio Holds back to Buys as early as next week now that the market’s no longer in freefall. But I also think that the action since the last issue has justified our recent advice not to go bargain hunting too early.