I have a 40 year background in accounting and finance at a number of public and private companies in increasingly responsible positions and have been a CFO for the last 20 years. My background in preparing financial statements, reporting to the Securities and Exchange Commission and having been involved in a number of company sales and purchases are invaluable tools in reading and understanding public company financial statements and their valuations.
CSI Update, November 2019-Private Subscribers
We stopped publishing our free weekly CSI Blog after 10 years of publishing at the end of 2015. We are following our 3 remaining open positions until the end.
In late 2015 we started offering a paid subscription service which is similar to the Blog, but we tell you exactly what stocks we bought and why—and sold every day, with a weekly summary of activity, open positions, how many shares we own and their valuations.
I have averaged a 43% gain on the 37 stocks I have sold (35 winners and 2 small losers) in my private portfolio since January 1, 2016. Nine of the 35 stocks have had buy-out offers, including six in 2017 and two in 2018. But none in 2019—yet. My total portfolio is up more than 70% so far in 2019.
If you are interested in becoming one of our private paid subscribers, please e-mail me at daveosowski@gmail.com.
Here is the list of private subscription stocks I have bought and sold since December 2015.
2019 EXFO, 1% gain
2019 PERI, 77% gain
2019 Quamtum Corp, sold 48% gain
2019 EXTR, 15% gain
2019 Medical Device company, sold 50% for a 53% gain
2019 DHI Corp, 46% gain
2019 Medical device company, (sold 80%), 69% gain
2019 Lantronix, 41% gain
2019 PDLI, 15% gain
2018 The Rubicon Project 1% gain
2018 Otelco 116% gain.
2018 Global Ship Lease 4% gain
2018 Telecom Services (57% sold) 3% gain
2018 Lantronix, 52% gain
2018 Ceragon Networks, 82% gain
2018 Networking Co. (1/3 sold) 17% gain
2018 Pitney Bowes 31% gain
2018 Calix-1% gain
2018 Xerox 34% gain, Buy-Out
2018 RMG Networks-1% gain
2017 Telecommunications Co., 59% gain (partial sale)
2017 magicJack 17% gain, Buy-Out
2017 eGain 56% gain
2017 YUME 90% gain, Buy-Out
2017 MaxPoint Interactive 60% gain
2017 Shortel 24% gain, Buy-Out
2017 Tremor Video 25% gain
2017 MRV Communications 6% loss, Buy-Out
2017 Ceragon Networks 55% gain
2017 Angie’s List 60% gain, Buy-Out
2017 Lantronix 135% gain
2017 Syneron Medical 46% gain, Buy-Out
2017 RocketFuel 140% gain
2017 Conduent .1% gain
2017 Harmonic 74% gain
2016 Ceragon Networks 48% gain
2016 Alphatec 71% gain
2016 Universal Insurance 36% gain
2016 Mitel Networks 15% gain
2016 Avid Technology 50% gain
2016 Silicon Graphics 70% gain, Buy-Out
2016 Imatron 30% gain
2016 Harmonic 80% gain
2016 United Online 5% loss, Buy-Out
CSI Update, November 2019-Free Blog
CSI FREE BLOG
Of our closed out positions on the Blog, since inception, we have had 71 winners, 19 losers for a 79% win-rate with an average gain of 35.7%.
We will continue to update on the remaining stock positions individually until they are all sold.
November 2019 Legacy Positions:
SYNC
Share cost-$2.56
Current Price-$1.77
Lifetime Gain (Loss) (31%)
YTD Gain 20%
Current Valuation-$5.05
Price to Value ratio-49%
Prior Valuation-$4.12
ATEC
Share cost-$7.06
Current Price-$7.05
Lifetime Gain (Loss)-even
YTD Gain 208%
Current Valuation-$5.29
Price to Value ratio-133%
Prior Valuation-$4.82
AVID
Share cost-$8.35
Current Price-$7.87
Lifetime (Loss) (6%)
YTD Gain (Loss) 6%
Current Valuation-$13.52
Price to Value ratio-58%
Prior Valuation-$14.33
CSI Update, August 2019-Private Subscribers
We stopped publishing our free weekly CSI Blog after 10 years of publishing at the end of 2015. We are following our 3 remaining open positions until the end.
In late 2015 we started offering a paid subscription service which is similar to the Blog, but we tell you exactly what stocks we bought and why—and sold every day, with a weekly summary of activity, open positions, how many shares we own and their valuations.
I have averaged a 42% gain on the 35 stocks I have sold (33 winners and 2 small losers) in my private portfolio since January 1, 2016. Nine of the 35 stocks have had buy-out offers, including six in 2017 and two in 2018. But none in 2019—yet.
If you are interested in becoming one of our private paid subscribers, please e-mail me at daveosowski@gmail.com.
Here is the list of private subscription stocks I have bought and sold since December 2015.
2019 PERI, 77% gain
2019 Tech storage company, sold 66% for a 42% gain
2019 EXTR, 15% gain
2019 Medical Device company, sold 15% for a 48% gain
2019 DHI Corp, 46% gain
2019 Medical device company, (sold 27%), 49% gain
2019 Lantronix, 41% gain
2019 PDLI, 15% gain
2018 The Rubicon Project 1% gain
2018 Otelco 116% gain.
2018 Global Ship Lease 4% gain
2018 Telecom Services (57% sold) 3% gain
2018 Lantronix, 52% gain
2018 Ceragon Networks, 82% gain
2018 Networking Co. (1/3 sold) 17% gain
2018 Pitney Bowes 31% gain
2018 Calix-1% gain
2018 Xerox 34% gain, Buy-Out
2018 RMG Networks-1% gain
2017 Telecommunications Co., 59% gain (partial sale)
2017 magicJack 17% gain, Buy-Out
2017 eGain 56% gain
2017 YUME 90% gain, Buy-Out
2017 MaxPoint Interactive 60% gain
2017 Shortel 24% gain, Buy-Out
2017 Tremor Video 25% gain
2017 MRV Communications 6% loss, Buy-Out
2017 Ceragon Networks 55% gain
2017 Angie’s List 60% gain, Buy-Out
2017 Lantronix 135% gain
2017 Syneron Medical 46% gain, Buy-Out
2017 RocketFuel 140% gain
2017 Conduent .1% gain
2017 Harmonic 74% gain
2016 Ceragon Networks 48% gain
2016 Alphatec 71% gain
2016 Universal Insurance 36% gain
2016 Mitel Networks 15% gain
2016 Avid Technology 50% gain
2016 Silicon Graphics 70% gain, Buy-Out
2016 Imatron 30% gain
2016 Harmonic 80% gain
2016 United Online 5% loss, Buy-Out
CSI Update, August 2019-Free Blog
AVID got bombed on Q2 earnings.They were really not bad but you sure shouldn’t tell from the stock price, plunging from $10.09 to $6.53. Revenues came in at $98.7 compared to $98.6 last year and Non-GAAP net income came in at $.02 a share compared to a $.10 loss last year. Apparently they “missed” some analyst estimate of $101.7 million in sales and $.04 earnings. My valuation did fall from $16.39 to $14.33 versus $14.64 in Q2 2018. This was big over reaction in my opinion. The stock has rebounded bit since earnings.
ATEC is up 128% this year, but still is down 26% lifetime. ATEC raised about $57 million is a share offering in August at $4.60 a share. It got snapped up pretty quickly at only a 10% discount to the market price when it was announced.
SYNC has not participated in the market rally. SYNC reported Q2 earnings. Not bad, and about as expected. At this point I hope the AT&T contract winds up quickly. Maybe then the focus can be on their recurring revenue base. Revenues came in at $31.8 million compared to $35.9 million last year. Loss was $2.2 million (Non-GAAP) compared to $2.3 million last year. Net cash was about $9 million. My valuation fell to $4.12 from $4.23, but of course this includes the soon to be gone AT&T revenues and income. Without AT&T, I estimate the valuation is still over $3.
August 2019 Legacy Positions:
SYNC
Share cost-$2.56
Current Price-$1.46
Lifetime Gain (Loss)-(43%)
YTD Gain (Loss)-(1%)
Current Valuation-$4.12
Price to Value ratio-35%
Prior Valuation-$4.23
ATEC
Share cost-$7.06
Current Price-$5.23
Lifetime Gain (Loss)-(26%)
YTD Gain (Loss)-128%
Current Valuation-$4.82
Price to Value ratio-108%
Prior Valuation-$4.83
AVID
Share cost-$8.35
Current Price-$7.46
Lifetime Gain (Loss)-(11%)
YTD Gain (Loss)-57%
Current Valuation-$14.33
Price to Value ratio-52%
Prior Valuation-$16.39
Private Portfolio Update
I closed my position in Perion (PERI) for a 77% profit.
I also sold another 1/3 of my Tech Storage company for a 51% gain, bringing my total gain so far to 42% on the 2/3’s I have sold.
Private Portfolio Update
Last week I some some more of my Adtech stock for an 81% gain. I also sold 33% of a Tech storage company for a 34% gain.
CSI Update, July 2019-Free Blog
Of our closed out positions on the Blog, since inception, we have had 71 winners, 19 losers for a 79% win-rate with an average gain of 35.7%.
We will continue to update on the remaining stock positions individually until they are all sold.
In July:
AVID has continued to move up and is now up 116% this year and 23% lifetime.
ATEC is up 105% this year, but still is down 33% lifetime. ATEC raised about $57 million is a share offering last week. It got snapped up pretty quickly at only a 10% discount to the market price when it was announced.
SYNC, is down 1% this year and 43% lifetime. They announced that they are losing the AT+T contract, but the effects will not be felt until 2020 as they wind down and transfer the business. MGMT needs to sell this puppy.
July 2019 Legacy Positions:
SYNC
Share cost-$2.56
Current Price-$1.46
Lifetime Gain(Loss)-(43%)
YTD Gain(Loss)-(1%)
Current Valuation-$4.23
Price to Value ratio-35%
Prior Valuation-$5.48
ATEC
Share cost-$7.06
Current Price-$4.70
Lifetime Gain(Loss)-(33%)
YTD Gain(Loss)-105%
Current Valuation-$4.82
Price to Value ratio-97%
Prior Valuation-$4.83
AVID
Share cost-$8.35
Current Price-$10.25
Lifetime Gain(Loss)-23%
YTD Gain(Loss)-115%
Current Valuation-$16.39
Price to Value ratio-63%
Prior Valuation-$16.11
