May — A Difficult Month for Many Procurement-Related Stocks [Plus+]
We’ve just seen a very poor month for procurement related equities – it’s all going wrong for our stock portfolio! Well, not all of it, but overall May was not good news. Back at the beginning of the year, we came up with a portfolio of stocks (shares) representing firms that have an interest in the procurement solutions business, from giants like SAP and IBM, for whom procurement is a small but still important part of their portfolio, to those such as SciQuest or Blur Group for whom it is their very raison d’être. We weighted the portfolio and decided to track the performance of it month by month. Then Jason Busch and I each choose our own portfolio, allocating a theoretical $1 million across our chosen firms. Jason was more selective then me, putting his cash into just eight of the firms. I was more promiscuous with my favours, choosing 14 out of the 21 firms overall. And it all started so well! Read on for which firms did well and which ones not so well.