Bought LM Ericsson ADR (ERIC)

We bought LM Ericsson ADR (ERIC), the Swedish telecom equipment manufacturer at $23.65 yesterday. The company is a truly global enterprise with significant exposure in both China and India. It should continue to benefit from growth in those areas and from the migration of wireless networks from 2G to 3G. The share price jumped 15% immediately after the first quarter report. It still trades at a reasonable PE of 14 and sports a dividend yield of 3.5%.

Below is our updated portfolio:

Stock	Buy Date	Buy Price	Current Price	Current % Of Portfolio	Unrealized % Return	Yield as % of BOY Portfolio Value Plus Deposits
Altria (MO)	Various	16.69	20.71	3.27	24.12	0.16
Philip Morris International (MO)	1/4/2005	32.19	50.81	5.80	57.83	0.18
Kraft Foods (KFT)	Various	24.03	31.98	3.37	33.06	0.11
Plum Creek Timber (PCL)	5/12/2005	35.5	41.59	6.57	17.14	0.25
Pfizer (PFE)	Various	24.37	20.52	5.41	(15.79)	0.33
ICICI Bank (IBN)	5/18/2006	27.57	46.23	7.31	67.66	0.08
Taiwan Semi (TSM)	7/27/2006	8.71	11.18	5.89	28.59	0.19
Advantage Energy Fund (AAV)	11/2/2006	11.22	12.02	4.12	7.09	0.46
SunTech Power (STP) Call Value	3/14/2007	36.73	41.70	4.39	13.55	None
Central Europe & Russia Fund (CEE)	Various	51.03	50.92	5.37	(0.22)	1.04
Patni Computers (PTI)	8/10/2007	20.85	12.91	3.40	(38.13)	0.04
Itron Inc. (ITRI)	11/07/2007	85.01	95.78	5.05	12.54	None
Anthracite (AHR)	11/09/2007	7.97	8.27	4.36	3.77	0.64
ClickSoftware (CKSW)	11/09/2007	4.61	3.16	1.66	(31.45)	None
Harvest Energy (HTE)	11/28/2007	21.01	22.81	4.81	8.54	0.73
iRobot (IRBT)	12/18/2007	18.65	13.51	2.85	(26.94)	None
MCG Capital (MCGC)	Various	10.86	7.92	3.34	(27.09)	0.78
LDK Solar (LDK)	01/22/2008	30.49	35.20	5.56	15.44	None
EMC Corporation (EMC)	04/08/2008	15.00	15.91	5.03	6.10	None
Aegon N.V. (AEG)	04/28/2008	15.99	16.43	5.19	2.77	0.30
LM Ericsson (ERIC) (AEG)	05/05/2008	23.65	23.70	4.99	0.19	0.17
Cash				2.70
Total Portfolio					5.89	5.45

• For EMC Corporation (EMC), we wrote covered calls for 2008 May 17 on 4/23/2008 at $0.57.
• For SunTech Power (STP), we wrote covered calls for 2008 June 45 on 4/1/2008 at $4.30.
• For Taiwan Semi (TSM), we wrote covered calls for 2008 October 12.5 on 4/21/2008 at $0.45.
• For Altria and Philip Morris International, assumed spin-off ratio of 30.83:69.17. Altria is yet to supply the cost-basis info