Based on reader recommendations, we've added several companies to out investment vehicle, The Brooklyn Portfolio. As we explained in our original post, The Brooklyn Portfolio includes shares in companies that have a strong Brooklyn presence, started in Brooklyn or have some other significant connection to Brooklyn. We started yesterday with: - Pfizer (PFE)
- Dime Community Bancshares, Inc. (DCOM)
- National Grid (NGG)
- Bristol-Myers Squibb Company (BMY)
- Corning Incorporated (GLW)
- Nathan's Famous (NATH)
New additions based on reader suggestions:
- Novartis (NVS), which makes health care products including pharmaceuticals (they took over Brooklyn's Ex-Lax), was selling for $52.20 yesterday, with a PE=15.76 and a yield of 3.28*.
- Brooklyn Federal Savings Bank (BFSB), a bank headquartered in Brooklyn. They're down about 10% year to date, have a PE= 28.39, and yield 3.16%. It was selling for $12.64 yesterday.
So here we have our Brooklyn Portfolio, subject to change depending on which way the wind blows. Three of the eight stocks are in the health/pharma area, and two are banks. Then we have an energy company, an industrial/tech company, and a restaurant.
In a couple of days we'll start producing charts and all kinds of lists of official looking numbers!
A reader also mentioned Forest City Enterprises (FCA.A), parent compant to our own F.C. (Bruce) Ratner. We don't feel confident yet about commercial real estate, and Forest City seems to have a little cash flow issue. So we'll wait on this one.
UPDATE: The Brooklyn Portfolio is funded!
- The Brooklyn Portfolio: Investing in Brooklyn (previous post)
*Yields as reported by Google Finance. May vary.
Photo by Don Hankins, Creative Commons license
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