According to Falk, their investment in Apple came from a compelling growth story: "We had owned
(HPQ - Get Report), and basically Apple was so much more compelling, given its drop in
Now that they've seen impressive returns from Apple though, Falk says they'll likely take their gains and put money back in HP.
Another good tech buy for the group was SanDisk (SNDK). The company has retuned a solid 20% since they bought into it this year.
WellPoint... Not So WellFalk says that the group's worst play of the quarter was WellPoint (WLP). SIM bought the health benefit company at almost $79 per share and watched it tumble to its current mid-$50 range. "I would say that WellPoint would have to be close to our worst play," recounts Falk. "We had marginally increased our position close to Easter, and a few days later they had an earnings release and fell something like 20%." Lesson learned? "Here's where the importance of having a diverse portfolio comes into play," Falk says. "We're down almost 31% in WellPoint. Indeed, big-gainers like Apple did a good job of lessening the effect of WellPoint's blow, but it doesn't take the sting out of a losing pick."