Yesterday my 2009 portfolio closed up 201% for the year. It has been an interesting journey, and while it is rather self congratulatory to discuss it, there are lessons to be learned.

Before I review some of the reasons I was able to do this I want to make it clear that I do not think this can be easily repeated; I look at the portfolio every day thinking this is too good to be true, and we all know what that usually means.

While I'm chasing value, General Electric (NYSE: GE) is chasing revenue from water projects. It may not amount to much now, but GE is betting it will be huge some day and it has been working towards this goal for many years.

Although GE had estimated 2009 revenue of $2.5 billion from the water business, that is only a meager 1.6% of the $156 billion in worldwide sales generated by its major business divisions that the world's largest maker of jet engines and electricity-producing turbines is expected to generate this year.

It was announced today that China's sovereign wealth fund has acquired 1.1% of the worlds largest alcoholic beverages maker Diageo PLC (NYSE: DEO), a deal valued at $365 million.

• "The move by China Investment Corp, which manages $200bn of the country's $2,132bn in foreign exchange reserves, makes the fund the UK-based groups' ninth-largest investor."

It was only last week I wrote about Diageo, stating: "the kind of stock you might pick if you only owned one stock in the universe"

Not that this is his doing, but it is his chosen calling, and right now he is calling out to the Congress to move forward on various contentious budget proposals and continued federal stimulus packages.

Most people probably have not heard of the Olin Corp (NYSE: OLN), even though it has been in business in the United States since 1892 (127 years!), and has been selling ammunition under the 140-year-old Winchester brand since it acquired the company 76 years ago.

While Olin has been around a long time, it does not get much attention. It is only capitalized at $1 billion and much of what it sells is far from glamorous. It also does more wholesale than retail business. However, investors should remember this: Olin pays a safe 5% yield!