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The Long Term GARP portfolio delivers in April

By Yale BockThe Long Term GARP investment portfolio rose 1.2% (net of fees) in the month of April 2013, which was better than the S&P 500 Index performance of 1.8%. Many companies in the portfolio reported good earnings and also provided strong guidance for the remainder of 2013.We believe a primary way to build the asset value of a portfolio is to own companies which grow their revenues and earnings quarter after quarter, year after year. Every portfolio is trying to accomplish this task and those enterprises which show growth with their results ultimately get rewarded. There were a few hiccups this quarter, but in general, the companies in the portfolio had a nice quarter.Liberty Interactive is the owner of QVC, Bodybuilding.com, Provide Commerce, Buyseasons.com, and Backcountry.com, and has large passive minority positions in other large, well known internet based business like the Home Shopping Network.Liberty Interactive gained a majority stake in TripAdvisor when it bought out Ba...

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