Tom Konrad, Ph.D., CFA
I missed my regular monthly update of my Ten Clean Energy Stocks for 2016 model portfolio at the start of October due to vacation. This mini-update will just give the numbers through October 11th, without the regular discussion of company events. I’ll follow up in early November covering highlights for the full two months. As you can see from the chart below, the portfolio and all sub-portfolios did very well by outperforming their benchmarks by 3% to 12% for the six week period.
See the May update for a description of the benchmarks.
Individual stocks
Growth stocks led the way, especially MiX Telematics Limited (NASD:MIXT; JSE:MIX).
At the time of the last update, I said “the three growth stocks remain extremely cheap, especially REGI and MIXT.” Readers who bought these two stocks at that time should have seen an average 16% return on the investment over the past 6 weeks, almost all of it attributable to MIXT, which was up 32%. The big gains for this vehicle tracking stock seem mostly due to the completion of the previously announced repurchase of stock.
I’ve been very bullish about the effects of this repurchase in previous updates. I only wonder why it took so long for the market to notice. The stock has been so undervalued I believe it still has plenty of room to run.
Disclosure: Long HASI, AMRC, MIXT,, RNW/TRSWF, PEGI, EVA, GPP, NYLD/A, REGI, GLBL.
DISCLAIMER: Past performance is not a guarantee or a reliable indicator of future results. This article contains the current opinions of the author and such opinions are subject to change without notice. This article has been distributed for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed.
