We started a new fund about two months ago and that is where we're at, 52% cash / 24% funds / 24% stocks. We are in no hurry to invest the capital and will pursue only value positions in the portfolio. Eventually we will have 2% cash / 49% funds / 49% stocks, which is what I would recommend to anyone who desires a balanced portfolio. Although it appears to many that this bull market is going to charge ahead we will not make any decisions based on this. When it comes to making any investment I generally tend not to listen to the bullish or bearish chatter and simply look at each opportunity on it's own merits, on a case by case basis.

May 8, 2006 is my one year anniversary writing for BloggingStocks. I started a couple of weeks after the site opened its doors for business with my first post: Microsoft: What are you thinking about? Since that time additional writers and editors have joined the team and the site has continued to improve. There are a lot of fantastic writers on this site with plenty to say about stocks and investing in general.

I am not a journalist or writer by profession, I have published no books, I did not go to a business school -- I am self taught in this area, with a lot of practical input from parents, mentors and experience investing. Remember the adage about experience - it's what you get when you were expecting something else.

MOST NOTEWORTHY:

• Actions Semiconductor Co., Ltd. ADS (NASDAQ:ACTS) was the only noteworthy initiation today. Shares of the fabless semiconductor company were started with an Outperform rating and $10 target at Pacific Crest. The firm believes Actions is a cheap way to play the world's largest MP3-controller vendor.

• Lazard started Immunomedics, Inc. (NASDAQ:IMMU) with a Buy rating and $6 target.
• SuperValu, Inc. (NYSE:SVU) was initiated at Morgan Stanley with an Equal Weight rating.
• CIBC started Cameco Corp. (NYSE:CCJ) with a Sector Outpeformer rating, with expectations for uranium demand to stay robust.
• HSBC Holdings initiated shares of Liberty Global, Inc. (NASDAQ:LBTYA) with an Overweight rating.
• AG Edwards initiated Spectra Energy Corp. (NYSE:SE) with a Hold rating.