Monday, December 1, 2008
IP Down 11%-Ed Warner
Our position in IP was down 11% today, after ending last week about flat. I am confident that much of IP's drop was due to the broader market shedding almost 8% in value. I still like the company and feel very comfortable holding it in our portfolio. Aside from today's severe drop, it's been doing fine since we bought it. I still believe we got into this stock at the right price and the right time. With the continued volatility and slew of economic indicators coming out this week, this week should be interesting for almost all of our holdings. I will continue monitoring the position and alert the group/advisory board of any major developments going forward.