Here’s What This 1,335%-Gainer Has Been Buying and Selling: Metlife Inc (MET), EMC Corporation (EMC)

Appaloosa Management reduced its stake in lots of companies, including Chimera Investment Corporation (NYSE:CIM) and Fusion-IO, Inc (NYSE:FIO) . Mortgage REIT Chimera Investment yields 11.6%, profiting by taking on more risk than many of its brethren. My colleague John Maxfield has expressed doubts about the company, and it has not filed required reports on time, either, which is a concern. It did file its 10-K (from 2011) recently, but after the market closed on a Friday, suggesting that it wanted minimal attention. Sure enough, a read through it raises more concerns, such as its hefty management fees.

Fusion-io is an enterprise storage company, focused on technologies such as flash memory and solid-state drives. It already serves some rather major customers, such as Apple Inc. (NASDAQ:AAPL), but much of its revenue comes from just a few key clients. It unveiled a new product line earlier this year, and has many investors hopeful, but remember that it does have competitors looming, and it’s not inexpensively valued, with a recent forward P/E of 61.

Finally, Appaloosa’s biggest closed positions included Marvell Technology Group Ltd. (NASDAQ:MRVL) and Lam Research Corporation (NASDAQ:LRCX). Marvell’s stock seems appealing these days, with the company hurt by softness in the PC market. Its growing interest in the cloud computing arena is promising, though, as is its new processor for low-cost smartphones and tablets. In the meantime, there’s a new dividend, recently yielding 2.2%, as well as stock repurchases.

We should never blindly copy any investor’s moves, no matter how talented the investor. But it can be useful to keep an eye on what smart folks are doing. Therefore, 13-F forms can be great places to find intriguing candidates for our portfolios.

The article Here’s What This 1,335%-Gainer Has Been Buying and Selling originally appeared on Fool.com and is written by Selena Maranjian

Longtime Fool contributor Selena Maranjian, whom you can follow on Twitter, owns shares of Apple. The Motley Fool recommends Apple and VMware. The Motley Fool owns shares of Apple, EMC, and VMware.

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