WALL STREET ELVES REPORT 1996
WALL STREET ELVES REPORT
Volume 3, Issue 52.
12/31/96
WALL STREET WEEK with Louis Rukeyser is undoubtedly America's most widely
followed and successful financial television program. For many years now Mr.
Rukeyser has done and outstanding job of boiling down the weekly financial
news into concise, informative and at times humorous monologues. Throughout
the years WALL STREET WEEK has provided perceptive viewers with many
profitable investment ideas.
We'd venture that Mr. Rukeyser is probably a pretty good stock picker in his
own right, but from watching his show each week we are certain that he is a
superb judge of other peoples abilities to pick stocks. Indeed, a great deal
of WALL STREET WEEK'S success can be directly attributed to the knowledge and
prognostications his panelists proffer each year.
At the beginning of each year the panelists, (there were 23 in 1995), offer
several investment ideas they believe will prove profitable in due time.
Every year there are several outstanding picks submitted by the panelists that
easily beat the market averages. This list can be obtained by writing WALL
STREET WEEK, Owings Mills, Maryland 21117, by faxing a request to 410-581-0980
or by accessing the Dow Jones News Retrieval Service.
Our one complaint of WALL STREET WEEK with Louis Rukeyser is that it is only
one half hour in length. Unfortunately, because of this time constraint there
is very little follow-up information provided by the panelists regarding their
stock picks. Perhaps the biggest drawback is that no sell signals are
provided by the panelists, so even if the viewer is making money on one of
these stocks, he's on his own in determining when to sell. Determining when
to sell is usually much more difficult then determining when to buy.
The WALL STREET ELVES REPORT will attempt to remedy these shortcomings by
constructing a market beating portfolio of common stocks, with the stocks
being selected only from the combined panelists list. Each weekly issue will
contain our "MODEL PORTFOLIO" giving exact buy and sell signals for each of
our selections, in addition each issue will track the individual panelists
performance on a YTD basis. Since the focus of our letter is on common stocks
we will not follow the debenture, option, currency, preferred stock, mutual
fund, recent IPO or warrant picks made by the WSW panelists. Also, we will
not cover obscure or "penny" stock picks for which a current price quote is
difficult to obtain.
We begin 1996 by investing a hypothetical $1,000 in each of the panelists
common stock picks with the entry price being the year-end closing price.
For each panelist we have assigned a "prefix letter" which is attached to the
name of his/her stock picks. The Portfolio Position report is sorted by this
prefix thus grouping the panelists picks together within the report. We fund
our "MODEL PORTFOLIO" by depositing a hypothetical $3,000 into the Vanguard
Index 500 Fund at it's year-end closing price. "MODEL PORTFOLIO" purchases of
individual stocks will be funded from this source, and proceeds of subsequent
sales will be redeposited there. As a result all the panelists and the "MODEL
PORTFOLIO" will both start and finish the year fully invested in the market.
We do not follow dividend payments, thus YTD return figures for each of the
panelists along with the "MODEL PORTFOLIO" track only capital
appreciation/depreciation. The entry/exit price for each trade within our
"MODEL PORTFOLIO" will be a Friday closing price. If you wish to trade on our
advice, "buy" or "short" our selections ONLY at our entry price ($/U) or
better. Remember, past performance is no guarantee of future results.
===============================================================================
1995 IN REVIEW:
On average the stock picks of the 23 panelists of Wall Street Week with Louis
Rukeyser returned 31% for 1995, compared to the SP500 which returned 34.11%
for the period 12/30/94 through 12/29/95. For the year the top four panelists
and their returns were:
winners - losers
John Dessauer +63% 8 - 0
Harvey Eisen +61% 8 - 3
Frank Cappiello +58% 9 - 3
Gail Dudack +51% 10 - 0
Both John Dessauer and Harvey Eisen favored small capitalization/low priced
issues and each had one penny stock (less than $5.00 per share) amongst their
picks. Frank Cappiello favored relatively larger capitalization/ higher
priced issues, but with one notable exception, a penny stock called National
Media Corp. (market cap approximately $75 million @ $5 1/8 on 12/30/94).
National Media Corp returned 310% for the year. Without this stock Mr.
Cappiello's remaining picks would have averaged 30% for the year.
We believe the years best performance was turned in by Gail Dudack. Although
she placed 4th, her 1995 picks were all large capitalization/high priced
issues, devoid of penny stocks. Her 1995 picks were:
American General Hewlett-Packard
American Home Products Intel Corp
Chrysler Corp Philip Morris Cos
Exxon Corp J.P. Morgan
Gap Inc Sears Roebuck
Most impressive was the fact that she had a perfect record, 10-0, with these
high quality stocks. Widows and orphans should take notice.
How did our MODEL PORTFOLIO fair for 1995? We were only in the market between
the dates 2/17 - 10/13 but managed to return 34.29% on an 8-1 record with no
penny stock trades and two short sales. Our picks and the panelists who
originally recommended them were:
PANELIST COMPANY SYMBOL
Laszlo Birinyi Williams-Sonoma (Short) WSGC
Laszlo Birinyi Microtouch Systems Inc. (Short) MTSI
John Dessauer CWM Mortgage Holdings CWM
Gail Dudack American Home Products AHP
Gail Dudack Philip-Morris MO
Harvey Eisen Student Loan Marketing Assoc. SLM
Michael Holland Allmerica Prop. & Casu. APY
Louis Holland Student Loan Marketing Assoc. SLM
William Waters Tandem Computers TDM
Julius Westheimer USG&F FG
===============================================================================
THE PANELISTS AND THEIR 1996 COMMON STOCK PICKS
Date SP500 Return
-------- ------ ------
12/29/95 615.93
12/27/96 756.79 + 22.86%
YTD
Portfolio
Name Symbol Portfolio Return
A Ralph J. Acampora
................. BIOX A-Biomatrix -9.78%
First Vice President BA A-Boeing Company
of Technical Research CTX A-Centex Corporation
Prudential Securities GTR A-Grupo Tribasa S A ADS
199 Water Street IDA A-Idaho Power
New York, NY 10292 PAGE A-Paging Network
(212) 214-1524 TCOMA A-Tele Communications Incorporated
Fax: 214-2273
B Laszlo Birinyi
................. + CSCC B-Cascade Communications-Short 49.97%
Director CVDI B-Cardiovascular Diagnostics-Short
Birinyi Associates FPAM B-FPA Medical Management
Box 9 FDR Station RRR B-Renaissance Communications
New York, NY 10150 ROSE B-T R Financial
(212) 355-2566 TMX B-Telefonos De Mexico ADS
Fax: 355-3108 Z B-Woolworth Corporation
+ note CSCC split 2-1 on 5/31/96
C Alan Bond
................. + ANDW C-Andrew Corporation 32.82%
Portfolio Manager CSC C-Computer Sciences
WR Lazard & Co. DIS C-Disney (Walt)
Fourteen Wall Street EFX C-Equifax Incorporated
18th Fl. ITT C-ITT Corporation
New York, NY 10005 + JNJ C-Johnson & Johnson
(212) 406-2770 KMB C-Kimberly-Clark
RAL C-Ralston-Purina Group
U C-USAir Group
+ WCOM C-WorldCom Incorporated
MDT C-Medtronic Incorporated
WX C-Westinghouse Electric
+ note ANDW split 3-2 on 3/7/96
+ note JNJ split 2-1 on 6/12/96
+ note WCOM split 2-1 on 7/5/96
D Eddie Brown
................. ALTR D-Altera Corporation 27.30%
President CAKE D-Cheesecake Factory
Brown Capital Management CBRL D-Cracker Barrel Old Country Store
809 Cathedral Street + DG D-Dollar General
Baltimore MD 21201 GNT D-Green Tree Financial
(301) 837-3234 VSH D-Vishay Intertechnology
Fax: 837-6525 + CSCO D-Cisco Systems
DIGI D-DSC Communications
+ note CSCO split 2-1 on 2/20/96
+ note DG split 5-4 on 4/29/96
E Frank Cappiello
................. KM E-KMart -12.70%
President KVA E-KV Pharmacal "A"
McCullough Andrews & * NTSR E-NetStar Incorporated
Cappiello + REGL E-Regal Cinemas
Greenspring Station SMED E-Shared Medica
10751 Falls Road lBSB E-Scoreboard
Suite 21093 * SKEY E-Softkey International
(301) 337-2255 TMM E-Transportacion Maritima Mexicana
Fax: 823-0146 YPF E-YPF Sociedad Anonima ADS
HHC E-Horizon/CMS Healthcare
LSI E-LSI Logic
DIGI E-DSC Communications
+ note REGL split 3-2 on 9/17/96
* note NetStar Incorporated delisted from OT on 8/16/96
* note Softkey International symbol change to TLC 11/14/96
F Howard P. Calhoun
................. AN F-Amoco 27.07%
General Partner AVNT F-Avant Corporation
Emerging Growth Partners BCR F-Bard (C R)
400 E. Pratt St. 610 CRR F-Conrail Incorporated
Baltimore, MD 21202 PBCT F-People's Bank (of CT)
(301) 332-1021 PRGO F-Perrigo
Fax: 837-3755 SPYG F-Spyglass Incorporated-Short
* UUNT F-UUNET Technologies-Short
+ NSCP F-Netscape Communications-Short
* note UUNET Technologies delisted from SF on 8/14/96
G Elizabeth Dater
................. + AORI G-American Oncology Research 18.16%
Managing Director * CNU G-Continuum Company
Warburg Pincus Counselors * DAVD G-Davidson & Associates Incorporated
466 Lexington Avenue GILD G-Gilead Sciences
New York, NY 10017 HI G-Household International
(212) 878-0600 + MTC G-Monsanto Company
Fax: 878-9351 2 SLR G-Solectron Corporation
TMR G-Texas Meridian Resources Corporation
WFC G-Wells Fargo
JWA G-Wiley (John) Sons "A"
+ note MTC split 5-1 on 6/6/96
+ note AORI split 2-1 on 6/11/96
* note Davidson & Associates Incorporated delisted from NASDAQ on 7/24/96
* note Continuum Company delisted from NYSE on 8/2/96
H Alison Deans
................. AT H-ALLTEL Corporation 35.02%
* ARN H-American Re Corporation
+ APAC H-APAC TeleServices
BAC H-BankAmerica Corporation
CMB H-Chase
* EDS H-EDS
XON H-Exxon Corporation
GTE H-GTE Corporation
+ HWP H-Hewlett-Packard
+ MS H-Morgan Stanley
SPBC H-St Paul Bancorp
+ NSCP H-Netscape Communications-Short
+ note MS 100% stock dividend on 1/10/96
+ note NSCP split 2-1 on 2/7/96
+ note APAC split 2-1 on 5/16/96
+ note HWP split 2-1 on 7/16/96
* note GME symbol change to EDS on 6/10/96
* note American Re Corporation delisted from NYSE on 11/26/96
I John P. Dessauer
................. CCR I-Countrywide Credit Industries 48.38%
Publisher ERICY I-Ericsson (LM) Tel "B" ADR
Dessauer's Journal * FLC I-Fletcher Challenge Ord ADS
P.O. Box 1718 HWG I-Hallwood Group
Orleans, MA 02653 q RP I-Rhone-Poulenc
(508) 255-1651 SEIC I-SEI Corporation
Fax: 255-9243 SME I-Service Merchandise
+ SHBZ I-ShowBiz Pizza Time
* BLY I-Bally Entertainment
+ note SHBZ split 3-2 on 5/23/96
* note Fletcher Challenge Ord ADS delisted from NYSE on 3/25/96
* note Bally Entertainment delisted from NYSE on 12/19/96
J Gail Dudack
................. AEP J-American Electric Power 15.57%
Vice President T J-AT&T Corporation
Director of Tech. Analysis ASM J-Authentic Fitness
S.G. Warburg & Co. Inc. BT J-Bankers Trust NY
787 7th Ave. 26th Fl. ETR J-Entergy Corporation
New York, NY 10091 KLAC J-KLA Instruments
(212) 459-7129 JPM J-Morgan (J P)
Fax: 459-7251 NBL J-Noble Affiliates
TXU J-Texas Utilities
WMT J-WalMart Stores
* BLY J-Bally Entertainment
* note Bally Entertainment delisted from NYSE on 12/19/96
K Harvey P. Eisen
................. AGN K-Allergan Inc 4.12%
President ASC K-American Stores
SunAmerica Asset Mgmt. * ASZ K-AMSCO International
10 Union Square East BNYN K-Banyan Systems
2nd Fl. BSPT K-Bell Sports
New York, NY 10003 DBCC K-Data Broadcasting
(212) 353-5593 * HSN K-Home Shopping Network
Fax: 353-5935 * IQ K-IDEON Group
?* NALC K-National Gaming (old sym. NAGC)
* PYXS K-Pyxis Corporation
WOA K-WorldCorp Incorporated
* note National Gaming symbol change to NALC on 1/16/96
* note Pyxis Corporation delisted from NASDAQ on 5/8/96
* note AMSCO International delisted from NYSE on 5/14/96
* note IDEON Group delisted from NYSE on 8/8/96
? note National Gaming deleted from WSER 08/23/96 (quote difficult to obtain)
* note Home Shopping Network delisted from NYSE on 12/23/96
L Mary Farrell
................. CL L-Colgate Palmolive 26.86%
First Vice President CPQ L-Compaq
PaineWebber Inc CYGN L-Cygnus
1285 Avenue of Americas + ORCL L-Oracle Corporation
New York, NY 10019 + PEP L-PepsiCo Incorporated
(212) 713-2418 PCCW L-Price/Costco Incorporated
Fax: 713-1075 RAH L-Ralcorp Holdings
TWX L-Time Warner Incorporated
* ZLC L-Zale
+ COL L-Columbia/HCA Healthcare
MDT L-Medtronic Incorporated
+ MSFT L-Microsoft Corporation
+ note ORCL split 3-2 on 4/17/96
+ note PEP split 2-1 on 5/29/96
+ note COL split 3-2 on 10/16/96
+ note MSFT split 2-1 on 12/9/96
* note Zale symbol change to ZLC on 6/19/96
M Michael F. Holland
................. + C M-Chrysler Corporation 12.60%
Chairman IP M-International Paper
Holland & Company L.L.C. MOT M-Motorola Incorporated
375 Park Avenue
New York, NY 10152
(212) 486-2002
Fax: 486-0744
+ note C split 2-1 on 7/16/96
N Bernadette Murphy
................. AZO N-AutoZone Incorporated 9.07%
Executive Director ENE N-Enron Corporation
M. Kimelman & Co. FRO N-Frontier Corporation
100 Park Avenue 1105 NUE N-Nucor Corporation
New York NY 10017 SLB N-Schlumberger Limited
(212) 686-0021 MRO N-USX Marathon Group
+ COL N-Columbia/HCA Healthcare
+ note COL split 3-2 on 10/16/96
O Carter Randall
................. CCI O-Citicorp 36.23%
The Randall Company GE O-General Electric
Firstate Tower GRN O-General Re Corporation
255 S. Orange Ave. 1510 HD O-Home Depot
Orlando, FL 32801 PG O-Procter & Gamble
(407) 648-5579 WAG O-Walgreen Company
+ MSFT O-Microsoft Corporation
MOT O-Motorola Incorporated
ALL O-Allstate Corporation
+ note MSFT split 2-1 on 12/9/96
P Maceo K. Sloan
................. COHR P-Coherent Incorporated 4.95%
President & CEO NPTH P-Neopath Incorporated
NCM Capital Management MO P-Philip Morris Cos
501 Willard Street PVH P-Phillips Van Heusen
Durham, NC 27701-3642 SHN P-Shoney's
(919) 688-0620 SFB P-Standard Federal Bancorporation
WMB P-Williams Cos
DIGI P-DSC Communications
Q Robert H. Stovall
................. ADM Q-Archer Daniels Midland 26.72%
President BTL Q-Betz Laboratories
Stovall/21st Advisers Inc. POT Q-Potash Corporation Saskatchewan
790 Third Avenue RBK Q-Reebok International
New York, NY 10017 ROU Q-Rouge Steel "A"
(212) 418-6010 SJMB Q-Smucker (J M) Cl "B"
Fax: 418-6038 TOY Q-Toys R Us
+ UAM Q-United Asset Management
ALL Q-Allstate Corporation
+ note UAM split 2-1 on 6/24/96
R William E. Waters
................. BKLY R-Berkley (W R) 3.67%
Director/Sr Vice President + BGEN R-Biogen Incorporated
Merrill Lynch HUM R-Humana Incorporated
World Financial Center + KNT R-Kent Electronics
South Tower SOL R-Sola International
New York, NY 10080-6117 + SUNW R-Sun Microsystems
(212) 236-8118 UNH R-United Healthcare
Fax: 236-8134 WII R-Weatherford Enterra
WX R-Westinghouse Electric
+ CSCO R-Cisco Systems
HHC R-Horizon/CMS Healthcare
LSI R-LSI Logic
+ note CSCO split 2-1 on 2/20/96
+ note KNT split 2-1 on 3/4/96
+ note BGEN split 2-1 on 11/18/96
+ note SUNW split 2-1 on 12/11/96
S Julius Westheimer
................. + BDX S-Becton Dickinson 13.10%
Limited Partner + CS S-Cabletron Systems
Ferris Baker Watts Inc. * CK S-Caremark International
100 Light Street HCCC S-Healthcare COMPARE
Baltimore, MD 21203 + IO S-Input/Output Incorporated
(301) 685-2600 LMT S-Lockheed Martin
Fax: 659-6711 * LOR S-Loral Corporation
+ PMTC S-Parametric Technology
VO S-Seagram Company Limited
* STJM S-St Jude Medical
+ TMO S-Thermo Electron
+ note IO split 2-1 on 1/10/96
+ note PMTC split 2-1 on 3/1/96
+ note TMO split 3-2 on 6/6/96
+ note BDX split 2-1 on 8/16/96
+ note CS split 2-1 on 11/27/96
* note LOR Loral Corporation delisted from NYSE on 4/29/96
* note Caremark International delisted from NYSE on 9/6/96
* note St Jude Medical symbol change to STJ on 12/02/96
T Martin E. Zweig
................. ACL T-ACE Limited 14.75%
Editor CRS T-Carpenter Technology
The Zweig Forecast CG T-Columbia Gas System
900 3rd Avenue DTC T-Domtar Incorporated
New York, NY 10022 DOW T-Dow Chemical
(212) 753-7710 * FCOA T-Foremost Corporation America
Fax: 421-4995 HAL T-Halliburton Company
ILN T-Illinova Corporation
TRA T-Terra Industries
* note Foremost Corporation America symbol change to FOM on 4/17/96
===============================================================================
THE TOP FIVE STOCKPICKS (YTD)
T Symbol Description Quantity $ Cost Mkt Price $ Value Val %
- --------- --------------- ---------- ----------- --------- ----------- -----
S FPAM B-FPA Medical M 106.6667 1000.00 23.7500 2533.33 1%
S SHBZ I-ShowBiz Pizza 123.7113 1000.00 18.2500 2257.73 1%
S APAC H-APAC TeleServ 59.9250 1000.00 36.2500 2172.28 1%
S ANDW C-Andrew Corpor 39.2157 1000.00 52.8750 2073.53 1%
S DG D-Dollar Genera 60.2410 1000.00 32.5000 1957.83 1%
Portfolio Positions - 12/27/96
-------------------------------
T Symbol Description Quantity $ Cost Mkt Price $ Value Val %
- --------- --------------- ---------- ----------- --------- ----------- -----
S BIOX A-Biomatrix 59.7015 1000.00 16.0000 955.22 0%
S BA A-Boeing Compan 12.7592 1000.00 104.3750 1331.74 1%
S CTX A-Centex Corpor 28.7770 1000.00 37.5000 1079.14 1%
S GTR A-Grupo Tribasa 133.3333 1000.00 5.0625 675.00 0%
S IDA A-Idaho Power 33.3333 1000.00 30.7500 1025.00 1%
S PAGE A-Paging Networ 41.0256 1000.00 15.3750 630.77 0%
S TCOMA A-Tele Communic 50.3145 1000.00 13.0000 654.09 0%
S CVDI B-Cardiovascula -90.9091 -1000.00 4.0000 -363.64 -0%
S CSCC B-Cascade Commu -23.4604 -1000.00 55.6250 -1304.99 -1%
S FPAM B-FPA Medical M 106.6667 1000.00 23.7500 2533.33 1%
S RRR B-Renaissance C 45.1977 1000.00 35.7500 1615.82 1%
S ROSE B-T R Financial 39.2157 1000.00 33.5000 1313.73 1%
S TMX B-Telefonos De 31.3725 1000.00 32.5625 1021.57 1%
S Z B-Woolworth Cor 76.9231 1000.00 21.8750 1682.69 1%
S ANDW C-Andrew Corpor 39.2157 1000.00 52.8750 2073.53 1%
S CSC C-Computer Scie 14.2349 1000.00 83.0000 1181.49 1%
S DIS C-Disney (Walt) 16.9851 1000.00 71.2500 1210.19 1%
S EFX C-Equifax Incor 46.7836 1000.00 31.2500 1461.99 1%
S ITT C-ITT Corporati 18.8679 1000.00 43.2500 816.04 0%
S JNJ C-Johnson & Joh 23.3918 1000.00 50.5000 1181.29 1%
S KMB C-Kimberly-Clar 12.0846 1000.00 97.6250 1179.76 1%
S MDT C-Medtronic I 17.8971 1000.00 68.8750 1232.66 1%
S RAL C-Ralston-Purin 16.0321 1000.00 74.0000 1186.37 1%
S U C-USAir Group 75.4717 1000.00 24.1250 1820.75 1%
S WX C-Westinghous 61.0687 1000.00 19.3750 1183.21 1%
S WCOM C-WorldCom Inco 56.7376 1000.00 24.8750 1411.35 1%
S ALTR D-Altera Corpor 20.1005 1000.00 72.7500 1462.31 1%
S CAKE D-Cheesecake Fa 46.5116 1000.00 18.5000 860.47 0%
S CSCO D-Cisco Syste 26.8006 1000.00 65.6250 1758.79 1%
S CBRL D-Cracker Barre 57.9710 1000.00 24.7500 1434.78 1%
S DG D-Dollar Genera 60.2410 1000.00 32.5000 1957.83 1%
S DIGI D-DSC Commun 27.1186 1000.00 17.7500 481.36 0%
S GNT D-Green Tree Fi 37.9147 1000.00 39.6250 1502.37 1%
S VSH D-Vishay Intert 31.7460 1000.00 22.8750 726.19 0%
S DIGI E-DSC Commun 27.1186 1000.00 17.7500 481.36 0%
S HHC E-Horizon/CMS 39.6040 1000.00 10.7500 425.74 0%
S KM E-KMart 140.3509 1000.00 10.5000 1473.68 1%
S KVA E-KV Pharmacal 74.7664 1000.00 12.6250 943.93 0%
S LSI E-LSI Logic 30.5344 1000.00 27.8750 851.15 0%
S NTSR E-NetStar Incor 54.7945 1000.00 17.2500 945.21 0%
S REGL E-Regal Cinemas 50.4201 1000.00 30.1250 1518.91 1%
S BSBL E-Scoreboard 228.5714 1000.00 2.0625 471.43 0%
S SMED E-Shared Medica 18.3908 1000.00 49.0000 901.15 0%
S TLC E-Softkey Inter 43.2432 1000.00 14.6250 632.43 0%
S TMM E-Transportacio 119.4030 1000.00 5.5000 656.72 0%
S YPF E-YPF Sociedad 46.2428 1000.00 25.3750 1173.41 1%
S AN F-Amoco 13.9860 1000.00 82.0000 1146.85 1%
S AVNT F-Avant Corpora 51.9481 1000.00 31.2500 1623.38 1%
S BCR F-Bard (C.R.) 31.0078 1000.00 28.6250 887.60 0%
S CRR F-Conrail Incor 14.2857 1000.00 100.0000 1428.57 1%
S NSCP F-Netscape Co -14.3884 -1000.00 54.3750 -782.37 -0%
S PBCT F-People's Bank 52.6316 1000.00 28.6250 1506.58 1%
S PRGO F-Perrigo 84.2105 1000.00 9.1250 768.42 0%
S SPYG F-Spyglass Inco -17.5439 -1000.00 13.7500 -241.23 -0%
S UUNT F-UUNet Technol -15.8730 -1000.00 56.7500 -900.79 -0%
S AORI G-American Onco 41.1312 1000.00 11.1250 457.58 0%
S CNU G-Continuum Com 25.3165 1000.00 53.7500 1360.76 1%
S DAVD G-Davidson & As 45.4545 1000.00 28.7500 1306.82 1%
S GILD G-Gilead Scienc 31.2500 1000.00 25.6250 800.78 0%
S HI G-Household Int 16.8067 1000.00 91.6250 1539.92 1%
S MTC G-Monsanto Comp 40.8165 1000.00 39.7500 1622.45 1%
S SLR G-Solectron Cor 22.6629 1000.00 54.6250 1237.96 1%
S TMR G-Texas Meridia 73.3945 1000.00 16.8750 1238.53 1%
S WFC G-Wells Fargo 4.6296 1000.00 278.6250 1289.93 1%
S JWA G-Wiley (John) 30.5344 1000.00 31.5000 961.83 0%
S AT H-ALLTEL Corpor 33.8983 1000.00 32.3750 1097.46 1%
S ARN H-American Re C 24.4648 1000.00 65.0000 1590.21 1%
S APAC H-APAC TeleServ 59.9250 1000.00 36.2500 2172.28 1%
S BAC H-BankAmerica C 15.4440 1000.00 102.3750 1581.08 1%
S CMB H-Chase 16.5631 1000.00 92.1250 1525.88 1%
S EDS H-EDS 19.2308 1000.00 44.2500 850.96 0%
S XON H-Exxon Corpora 12.4224 1000.00 99.8750 1240.68 1%
S GTE H-GTE Corporati 22.7920 1000.00 46.3750 1056.98 1%
S HWP H-Hewlett-Packa 23.8806 1000.00 51.6250 1232.84 1%
S MS H-Morgan Stanle 24.8062 1000.00 58.8750 1460.47 1%
S NSCP H-Netscape Co -14.3884 -1000.00 54.3750 -782.37 -0%
S SPBC H-St. Paul Banc 39.2157 1000.00 30.0000 1176.47 1%
S BLY I-Bally Enter 71.4286 1000.00 26.1250 1866.07 1%
S CCR I-Countrywide C 46.2428 1000.00 27.7500 1283.24 1%
S ERICY I-Ericsson (LM) 51.2821 1000.00 30.0625 1541.67 1%
S FLC I-Fletcher Chal 43.2432 1000.00 23.0000 994.59 1%
S HWG I-Hallwood Grou 129.0323 1000.00 14.1250 1822.58 1%
S RP I-Rhone-Poulenc 46.7836 1000.00 34.5000 1614.04 1%
S SEIC I-SEI Corporati 45.9770 1000.00 21.7500 1000.00 1%
S SME I-Service Merch 205.1282 1000.00 4.7500 974.36 0%
S SHBZ I-ShowBiz Pizza 123.7113 1000.00 18.2500 2257.73 1%
S AEP J-American Elec 24.6914 1000.00 41.6250 1027.78 1%
S T J-AT&T Corporat 15.4440 1000.00 43.7500 675.68 0%
S ASM J-Authentic Fit 48.1928 1000.00 11.3750 548.19 0%
S BLY J-Bally Enter 71.4286 1000.00 26.1250 1866.07 1%
S BT J-Bankers Trust 15.0376 1000.00 88.0000 1323.31 1%
S ETR J-Entergy Corpo 34.1880 1000.00 28.1250 961.54 0%
S KLAC J-KLA Instrumen 38.3686 1000.00 36.0000 1381.27 1%
S JPM J-Morgan (J.P.) 12.4611 1000.00 99.8750 1244.55 1%
S NBL J-Noble Affilia 33.4728 1000.00 48.0000 1606.69 1%
S TXU J-Texas Utiliti 24.3902 1000.00 40.7500 993.90 1%
S WMT J-WalMart Store 44.9438 1000.00 24.1250 1084.27 1%
S AGN K-Allergan Inc. 30.7692 1000.00 35.7500 1100.00 1%
S ASC K-American Stor 37.3832 1000.00 41.0000 1532.71 1%
S ASZ K-AMSCO Interna 67.2269 1000.00 14.1250 949.58 0%
S BNYN K-Banyan System 97.5610 1000.00 4.4375 432.93 0%
S BSPT K-Bell Sports 125 1000.00 5.9375 742.19 0%
S DBCC K-Data Broadcas 80.8081 1000.00 7.0000 565.66 0%
S HSN K-Home Shopping 111.1111 1000.00 10.5000 1166.67 1%
S IQ K-IDEON Group 98.7654 1000.00 13.8750 1370.37 1%
S NALC K-National Gami 84.2105 1000.00 16.8750 1421.05 1%
S PYXS K-Pyxis Corpora 68.3761 1000.00 25.5620 1747.83 1%
S WOA K-WorldCorp Inc 100 1000.00 4.2500 425.00 0%
S CL L-Colgate-Palmo 14.2349 1000.00 92.7500 1320.28 1%
S COL L-Columbia/HC 29.5566 1000.00 41.1250 1215.52 1%
S CPQ L-Compaq Comput 20.8333 1000.00 75.1250 1565.10 1%
S CYGN L-Cygnus 44.6927 1000.00 14.8750 664.80 0%
S MDT L-Medtronic I 17.8971 1000.00 68.8750 1232.66 1%
S MSFT L-Microsoft C 22.7920 1000.00 84.2500 1920.23 1%
S ORCL L-Oracle Corpor 35.3982 1000.00 42.8750 1517.70 1%
S PEP L-PepsiCo Incor 35.7942 1000.00 29.6250 1060.40 1%
S PCCW L-Price/Costco 65.5738 1000.00 25.3750 1663.93 1%
S RAH L-Ralcorp Holdi 41.2371 1000.00 20.6250 850.52 0%
S TWX L-Time Warner I 26.4026 1000.00 37.1250 980.20 0%
S ZLC L-Zale 62.0155 1000.00 19.8750 1232.56 1%
S C M-Chrysler Corp 36.2812 1000.00 33.7500 1224.49 1%
S IP M-International 26.4026 1000.00 40.6250 1072.61 1%
S MOT M-Motorola In 17.5439 1000.00 61.6250 1081.14 1%
S AZO N-AutoZone Inco 34.6320 1000.00 25.2500 874.46 0%
S COL N-Columbia/HC 29.5566 1000.00 41.1250 1215.52 1%
S ENE N-Enron Corpora 26.2295 1000.00 43.7500 1147.54 1%
S FRO N-Frontier Corp 33.3333 1000.00 21.8750 729.17 0%
S NUE N-Nucor Corpora 17.5055 1000.00 50.5000 884.03 0%
S SLB N-Schlumberger 14.4404 1000.00 104.5000 1509.03 1%
S MRO N-USX Marathon 51.2821 1000.00 24.8750 1275.64 1%
S ALL O-Allstate Co 24.3161 1000.00 59.8750 1455.93 1%
S CCI O-Citicorp 14.8699 1000.00 106.3750 1581.78 1%
S GE O-General Elect 13.8889 1000.00 102.5000 1423.61 1%
S GRN O-General Re Co 6.4516 1000.00 159.7500 1030.65 1%
S HD O-Home Depot 20.9424 1000.00 51.5000 1078.53 1%
S MSFT O-Microsoft C 22.7920 1000.00 84.2500 1920.23 1%
S MOT O-Motorola In 17.5439 1000.00 61.6250 1081.14 1%
S PG O-Procter & Gam 12.0482 1000.00 110.0000 1325.30 1%
S WAG O-Walgreen Comp 33.4728 1000.00 40.7500 1364.02 1%
S COHR P-Coherent Inco 24.6914 1000.00 42.0000 1037.04 1%
S DIGI P-DSC Commun 27.1186 1000.00 17.7500 481.36 0%
S NPTH P-Neopath Incor 43.0108 1000.00 16.2500 698.92 0%
S MO P-Philip Morris 11.0803 1000.00 114.0000 1263.16 1%
S PVH P-Phillips-Van 101.2658 1000.00 14.5000 1468.35 1%
S SHN P-Shoney's 97.5610 1000.00 7.2500 707.32 0%
S SFB P-Standard Fede 25.3968 1000.00 56.7500 1441.27 1%
S WMB P-Williams Cos 22.7920 1000.00 57.0000 1299.15 1%
S ALL Q-Allstate Co 24.3161 1000.00 59.8750 1455.93 1%
S ADM Q-Archer Daniel 55.5556 1000.00 22.7500 1263.89 1%
S BTL Q-Betz Laborato 24.3902 1000.00 57.8750 1411.59 1%
S POT Q-Potash Corpor 14.1093 1000.00 82.3750 1162.26 1%
S RBK Q-Reebok Intern 35.3982 1000.00 43.0000 1522.12 1%
S ROU Q-Rouge Steel A 42.1053 1000.00 21.1250 889.47 0%
S SJMB Q-Smucker (J.M. 51.9481 1000.00 15.7500 818.18 0%
S TOY Q-Toys R Us 45.9770 1000.00 32.5000 1494.25 1%
S UAM Q-United Asset 52.1172 1000.00 26.6250 1387.62 1%
S BKLY R-Berkley (W.R. 18.6047 1000.00 50.7500 944.19 0%
S BGEN R-Biogen Incorp 32.5204 1000.00 36.6250 1191.06 1%
S CSCO R-Cisco Syste 26.8006 1000.00 65.6250 1758.79 1%
S HHC R-Horizon/CMS 39.6040 1000.00 10.7500 425.74 0%
S HUM R-Humana Incorp 36.5297 1000.00 19.7500 721.46 0%
S KNT R-Kent Electron 34.2612 1000.00 25.3750 869.38 0%
S LSI R-LSI Logic 30.5344 1000.00 27.8750 851.15 0%
S SOL R-Sola Internat 39.6040 1000.00 37.7500 1495.05 1%
S SUNW R-Sun Microsyst 43.8356 1000.00 28.2500 1238.36 1%
S UNH R-United Health 15.2964 1000.00 45.8750 701.72 0%
S WII R-Weatherford E 34.4828 1000.00 30.7500 1060.34 1%
S WX R-Westinghous 61.0687 1000.00 19.3750 1183.21 1%
S BDX S-Becton Dickin 26.6666 1000.00 44.2500 1180.00 1%
S CS S-Cabletron Sys 24.6914 1000.00 35.2500 870.37 0%
S CK S-Caremark Inte 55.1724 1000.00 23.7500 1310.34 1%
S HCCC S-Healthcare CO 22.9885 1000.00 42.8750 985.63 0%
S IO S-Input/Output 34.6320 1000.00 19.0000 658.01 0%
S LMT S-Lockheed Mart 12.6582 1000.00 90.3750 1143.99 1%
S LOR S-Loral Corpora 28.2686 1000.00 51.8750 1466.43 1%
S PMTC S-Parametric Te 30.0752 1000.00 52.5000 1578.95 1%
S VO S-Seagram Compa 28.9855 1000.00 40.8750 1184.78 1%
S STJ S-St. Jude Medi 23.2558 1000.00 41.8750 973.84 0%
S TMO S-Thermo Electr 28.8462 1000.00 37.7500 1088.94 1%
S ACL T-ACE Limited 25.1572 1000.00 56.5000 1421.38 1%
S CRS T-Carpenter Tec 24.3161 1000.00 35.5000 863.22 0%
S CG T-Columbia Gas 22.7920 1000.00 64.8750 1478.63 1%
S DTC T-Domtar Incorp 131.1475 1000.00 8.3750 1098.36 1%
S DOW T-Dow Chemical 14.2349 1000.00 79.0000 1124.56 1%
S FOM T-Foremost Corp 19.7044 1000.00 59.3750 1169.95 1%
S HAL T-Halliburton C 19.7531 1000.00 62.0000 1224.69 1%
S ILN T-Illinova Corp 33.3333 1000.00 27.8750 929.17 0%
S TRA T-Terra Industr 70.7965 1000.00 14.3750 1017.70 1%
===============================================================================
THE PANELISTS AND THEIR PERFORMANCE STATISTICS (YTD)
P. SHARPE RATIO AVG.of WEEKLY YTD RETURNS as % STANDARD DEVIATION
-- ------------ ------------------------------ ------------------
I 2.312325954437256 31.4415111541748 12.3646354675293
D 2.136353015899658 17.30661773681641 6.766754150390625
F 2.133125305175781 16.47792816162109 6.388506889343262
H 2.107711553573608 22.01947402954102 9.09471321105957
J 2.027828454971313 8.505124092102051 2.788539886474609
C 2.0140380859375 17.51758193969727 7.282454490661621
S 1.843645811080933 10.82157802581787 4.323570728302002
B 1.711940050125122 24.40353584289551 12.58986473083496
L 1.384857892990112 11.79104995727539 6.455974578857422
O 1.271753787994385 13.86746883392334 8.662859916687012
X 1.23425018787384 8.984038352966309 4.969491958618164
Q 1.162716746330261 10.28596687316895 6.394958019256592
K .8999818563461304 8.121941566467285 5.857340335845947
N .8648380041122437 5.712597846984863 3.309470176696777
T .6989291310310364 5.447885990142822 3.716318130493164
M .4497658610343933 5.108828067779541 5.021247863769531
G .3384319245815277 4.741112232208252 5.586556434631348
P -2.015476942062378 2.504674434661865 5.828994274139404
W -3.077814102172852 2.390019416809082 6.684755802154541
R -19.05084037780762 -.1721802800893784 6.302752494812012
E -60.24338912963867 -3.840103626251221 9.004256248474121
A -69.07212066650391 -7.60373592376709 6.607131004333496
W = The Wall Street Elves Model Portfolio
X = SP500 Index
*note see appendix below for discussion of Sharpe Ratio.
===============================================================================
===============================================================================
THE WALL STREET ELVES MODEL PORTFOLIO
NEW TRADES: No new trades for the week ending 12/27/96.
Transactions
-------------
Date TAC Symbol Description Quantity $/U Com/Fees $ Amount
-------- --- --------- --------------- ---------- -------- -------- -----------
12/28/95 **CASH*** Opening Balance 0.00
12/29/95 DPF Cash 3000.00
12/29/95 BUY VFINX VANGUARD INDEX 17.3611 57.60 -1000.00
12/29/95 BUY CRR Conrail Incorpo 14.2857 70.00 -1000.00
12/29/95 BUY FCOA Foremost Corpor 19.7044 50.75 -1000.00
02/26/96 SLL FCOA T-Foremost Corp -19.7044 57.50 1133.00
03/01/96 BUY VFINX VANGUARD INDEX 18.7366 60.47 -1133.00
03/01/96 SLS UUNT F-UUNet Technol -33.6134 29.75 1000.00
04/01/96 BYC UUNT F-UUNet Technol 33.6134 26.75 -899.16
04/01/96 SLS SPYG F-Spyglass Inco -45.4545 22.00 1000.00
04/09/96 SLL CRR F-Conrail Incor -14.2857 71.00 1014.28
04/12/96 SLS VFINX VANGUARD INDEX -36.0978 59.64 2152.87
04/23/96 BYC SPYG F-Spyglass Inco 45.4545 25.25 -1147.73
04/26/96 SLL VFINX VANGUARD INDEX -36.0977 61.24 2210.62
12/27/96 **CASH*** Closing Balance 0.00 5330.90
Portfolio Positions - 12/27/96
-------------------------------
T Symbol Description Quantity $ Cost Mkt Price $ Value Val %
- --------- --------------- ---------- ----------- --------- ----------- -----
**CASH*** 5330.90 5330.90 192%
M VFINX VANGUARD INDEX -36.0978 -2152.87 70.6400 -2549.95 -92%
----------- ----------- -----
Mutual Funds -2152.87 -2549.95 -92%
----------- ----------- -----
Portfolio Total 3178.03 2780.95 100%
Capital Gains 12/28/95-12/27/96
--------------------------------
Symbol Descrip Quantity Buy Date SellDate $ Sales Cost Basis Gain/-Loss
--------- --------- --------- -------- -------- ---------- ---------- ----------
FCOA T-Foremos 19.7044 12/29/95 02/26/96 1133.00 1000.00 133.00
UUNT F-UUNet T -33.6134 04/01/96 03/01/96 1000.00 899.16 100.84
CRR F-Conrail 14.2857 12/29/95 04/09/96 1014.28 1000.00 14.28
SPYG F-Spyglas -45.4545 04/23/96 04/01/96 1000.00 1147.73 -147.73
VFINX VANGUARD 17.3611 12/29/95 04/26/96 1063.19 1025.86 37.33
VFINX VANGUARD 18.7366 03/01/96 04/26/96 1147.43 1107.14 40.29
---------- ---------- ----------
Capital Gains (Short Term) 6357.90 6179.89 178.01
---------- ---------- ----------
Capital Gains (Long Term) 0.00 0.00 0.00
MODEL PORTFOLIO RECORD
----------------------
12/29/95 - 12/27/96
Return excluding commissions: -7.30%
SP500 (615.93 - 756.79) : 22.86%
Total Trades 7
Winners 5
Losers 2
SUCCESS RATE: 71.4%
================================================================================
MODEL PORTFOLIO SELECTIONS
PANELIST COMPANY SYMBOL
Howard P. Calhoun Conrail Inc. CRR
Martin Zweig Foremost Corporation America FCOA
Howard P. Calhoun UUNT Technologies (Short) UUNT
Howard P. Calhoun Spyglass Incorporated (Short) SPYG
Please note that the stocks selected for the MODEL PORTFOLIO were culled from
a list of over 170 different companies. Many of the other selections
submitted by the WSW panelists will produce profitable trades during 1996,
their omission does not reflect negatively upon any panelist or company,
rather it demonstrates the limits of the editor's knowledge and talents.
================================================================================
SYMBOL KEY
DPF = CASH DEPOSIT OF FUNDS WDF = CASH WITHDRAWL OF FUNDS
BUY = BUY SECURITY SLL = SELL SECURITY
SLS = SELL SECURITY SHORT BYC = BUY TO COVER SHORT POSITION
SP+ = SPLIT LONG SP- = SPLIT SHORT
T = TYPE OF INVESTMENT S = STOCK
$/U = PRICE PER SHARE M = MUTUAL FUND
TAC = TRANSACTION CODE $/COST = TOTAL INVESTMENT
DV+ = CASH DIVIDENDS PAID QUANTITY = # OF SHARES HELD
The WALL STREET ELVES REPORT is produced weekly by RUSSELL EQUITY MANAGEMENT.
Periodically RUSSELL EQUITY MANAGEMENT or its clients may have positions in
the stocks profiled by THE WALL STREET ELVES REPORT. RUSSELL EQUITY
MANAGEMENT is not affiliated with WALL STREET WEEK, the Public Broadcasting
System, Louis Rukeyser, nor any of the WSW panelists. The editor of The WALL
STREET ELVES REPORT is Russell Thomas.
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