Librarian Capital's Monthly Ranked Top Buys - March 2023

(Substack Exclusive) Portfolio Strategy

Welcome to the March edition of our monthly ranked top buys series, designed to facilitate regular reviews of our selection of preferred stocks. This month, we have dropped Zoetis (formerly #14) and added JPMorgan at #13:

The past 30 days have been dominated by crises at certain U.S. and European banks. We believe these are company-specific, do not affect our holdings and imply little systemic risk, especially after decisive actions by regulators (including making depositors whole at Silicon Valley Bank, providing funding to U.S.banks based on the par value of their bond holdings, and backstopping UBS’s takeover of Credit Suisse).

Nonetheless, share prices in Financials have been hit significantly, and as have those in many other sectors. Bank of America, Admiral and Charter share prices are down double-digits from our last update, most other stocks are down a single-digit, though Microsoft and Alphabet are up around 8% each, and Intuit has also gained 2%.

A recap of the investment case…