I added a position in US Bancorp (USB) to the Fat Pitch Financials Portfolio today. My order for 2,940 shares of USB was filled today at a net average price of $34.0417 including commissions and fees according to Marketocracy.
As you might remember, I valued US Bancorp at the end of March. The more I’ve read about USB since then the more I like the business. I was hoping that last week’s market tumble would have dropped the price of USB shares a bit more. I would like to have gotten a wider margin of safety on this one. However, I still think USB will be a solid performing component of the virtual portfolio I maintain for Fat Pitch Financials as well as my own account.
By the way, you can now follow the performance of the Fat Pitch Port as well as the Special Situations Real Money Portfolio by scrolling to the bottom of the left sidebar on Fat Pitch Financials. I’m still tweaking the performance metrics that I should include in this continuously updated sidebar item. Your comments are welcome.
Full Disclosure: I own shares of US Bancorp.