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-LEAF
LEAF got a Buy-out offer this morning at $8.50 a share. I sold my position for a 84% gain. Second Buy-out this year.
CSI Update March 2021
2021 has been a barnburner for me so far. I am up 42% compared to the DOW which is up 7.8% and NASDAQ which is up 2.8%.
In late 2015 I started offering a paid subscription service which is similar to the Blog, but I tell you exactly what stocks I bought and why—and sold every day, with a weekly summary of activity, open positions, how many shares I own and their valuations.
Through March, 2021, I have averaged a 49.9% gain on the 57 stocks I have sold (53 winners and 4 losers) in my private portfolio since January 1, 2016. Thirteen of the 57 stocks have had buy-out offers, including two in 2016, six in 2017, two in 2018, none in 2019, two in 2020 and one so far in 2021.
My total portfolio which is in the seven figures was up 30.6% in 2020 and 72.8% in 2019.I took profit in almost the entire gains and banked it in cash.
We stopped publishing our free weekly CSI Blog after 10 years of publishing at the end of 2015. We closed out all of our remaining stock positions on the Blog in February 2021. Since inception in 2006, we had 73 winners, 20 losers for a 78.5% win-rate with an average gain of 38.9%.
If you are interested in becoming one of my private paid subscribers, please e-mail me at daveosowski@gmail.com.
Here is the list of private subscription stocks I have bought and closed out my position on, since December 2015.
2021 Evolving Systems, 222% gain
2021 DHI Group, 49% gain
2021 Avid Technology, 143% gain
2021 Synacor, 10% loss-Buy-Out
2021 Extreme Networks, 52% gain
2021 Synchronoss, 77% gain
2021 Accuray, 62% gain
2021 Alphatec, 96% gain
2020 ZAGG 43% loss-Buy-Out
2020 Alaska Comm. 46% gain-Buy-Out (again)
2020 PDL BioPharma, 34% gain
2020 MIX Telegraphics, 27% gain
2020 QUAD Graphics, 3% gain
2020 VOXX, 1% gain
2020 Alaska Comm. 46% gain
2020 Cutera, 31% gain
2020 Aviat Networks, sold remaining 1/3 for a 7% gain (overall 15% gain)
2020 DHI .4% gain
2020 QUAD Graphics 54% gain
2020 Medical equipment company-sold 33% for a 61% gain
2020 Old line media company-sold 50% for a 44% gain
2019 EXFO, 1% gain
2019 PERI, 77% gain
2019 Quantum Corp, sold for 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 Aviat Newtowrks. (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, February 2021, Private Subscribers
We stopped publishing our free weekly CSI Blog after 10 years of publishing at the end of 2015. We have now closed out all of our remaining stock positions on the Blog.
In late 2015 I started offering a paid subscription service which is similar to the Blog, but I tell you exactly what stocks I bought and why—and sold every day, with a weekly summary of activity, open positions, how many shares I own and their valuations.
Through February, 2021, I have averaged a 47.3% gain on the 54 stocks I have sold (50 winners and 4 losers) in my private portfolio since January 1, 2016. Thirteen of the 54 stocks have had buy-out offers, including two in 2016, six in 2017, two in 2018, none in 2019, two in 2020 and one so far in 2021.
My total portfolio was up 30.6% in 2020 and 72.8% in 2019.I took profit in almost the entire gains and banked it in cash.
2021 has been a barnburner for me so far. I am up 38% compared to the DOW which is up 1.1% and NASDAQ which is up 2.4%.
If you are interested in becoming one of my private paid subscribers, please e-mail me at daveosowski@gmail.com.
Here is the list of private subscription stocks I have bought and closed out my position on, since December 2015.
2021 Avid Technology, 143% gain
2021 Synacor, 10% loss-Buy-Out
2021 Extreme Networks, 52% gain
2021 Synchronoss, 77% gain
2021 Accuray, 62% gain
2021 Alphatec, 96% gain
2020 ZAGG 43% loss-Buy-Out
2020 Alaska Comm. 46% gain-Buy-Out
2020 PDL BioPharma, 34% gain
2020 MIX Telegraphics, 27% gain
2020 QUAD Graphics, 3% gain
2020 VOXX, 1% gain
2020 Alaska Comm. 46% gain
2020 Cutera, 31% gain
2020 Aviat Networks, sold remaining 1/3 for a 7% gain (overall 15% gain)
2020 DHI .4% gain
2020 QUAD Graphics 54% gain
2020 Medical equipment company-sold 33% for a 61% gain
2020 Old line media company-sold 50% for a 44% gain
2019 EXFO, 1% gain
2019 PERI, 77% gain
2019 Quantum Corp, sold for 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 Aviat Newtowrks. (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, February 2021, Free Blog
In February we sold both AVID and SYNC, closing out all of our free blog recommendations. We sold AVID at $23.01 for a 175% gain and we sold SYNC for a 15% loss even though they got a takeover offer. The offer was only for $2.20.
Since inception in 2006, we had 73 winners, 20 losers for a 78.5% win-rate with an average gain of 38.9%.
I will still be posting updates on my Private Subscription service going forward.
CSI Update, January 2021, Private Subscribers
We stopped publishing our free weekly CSI Blog after 10 years of publishing at the end of 2015. We are following our 2 remaining open positions until the end.
In late 2015 I 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.
Through January, 2021, I have averaged a 46.8% gain on the 51 stocks I have sold (48 winners and 3 losers) in my private portfolio since January 1, 2016. Twelve of the 51 stocks have had buy-out offers, including six in 2017 and two in 2018, none in 2019 and two in 2020.
My total portfolio was up 30.6% in 2020 and 72.8% in 2019.I took profit in almost the entire gains and banked it in cash.
2021 has been a barnburner for me. I am up 19.6% compared to the DOW which is down 2%, NASDAQ which is up 1.4%.
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 closed out my position since December 2015.
2021 Synchronoss, 77% gain
2021 Accuray, 62% gain
2021 Alphatec, 96% gain
2020 ZAGG 43% loss-Buy-Out
2020 Alaska Comm. 46% gain-Buy-Out
2020 PDL BioPharma, 34% gain
2020 MIX Telegraphics, 27% gain
2020 QUAD Graphics, 3% gain
2020 VOXX, 1% gain
2020 Alaska Comm. 46% gain
2020 Cutera, 31% gain
2020 Aviat Networks, sold remaining 1/3 for a 7% gain (overall 15% gain)
2020 DHI .4% gain
2020 QUAD Graphics 54% gain
2020 Medical equipment company-sold 33% for a 61% gain
2020 Old line media company-sold 50% for a 44% gain
2019 EXFO, 1% gain
2019 PERI, 77% gain
2019 Quantum Corp, sold for 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 Aviat Newtowrks. (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-January 2021, Free Blog
Of our closed out positions on the Blog, since inception, we have had 72 winners, 19 losers for a 79.1% win-rate with an average gain of 36.8%.
We will continue to update on the remaining stock positions individually until they are all sold.
January 2021 Legacy Positions:
SYNC
Share cost $2.56
Current Price $1.69
Lifetime Gain (Loss) (34%)
YTD Gain 24%
Current Valuation $2.27
Price to Value ratio 74%
Prior Valuation $2.59
AVID
Share cost $8.35
Current Price $17.04
Lifetime gain 104%
YTD Gain 7%
Current Valuation $17.78
Price to Value ratio 96%
Prior Valuation $14.48
Private Portfolio Update-ZAGG
Well I got another buy-out in 2020. ZAGG got an offer for up to $4.45 a share on Friday. That’s the good news. I sold my shares for a 43% loss. Fortunately I only had a small position.
CSI Update, November 2020, 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 I 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.
Through November, 2020, I have averaged a 40.5% gain on the 47 stocks I have sold (45 winners and 2 small losers) in my private portfolio since January 1, 2016. Eleven of the 48 stocks have had buy-out offers, including six in 2017 and two in 2018, none in 2019 and finally one in 2020.
My total portfolio was up 72.8% in 2019. I took profit in the entire gain and banked it in cash.
NASDAQ is up for the year on the backs of stocks selling at astronomical multiples—of sales. The NYSE and Russell 2000 indexes finally got in the black in November. I ended November solidly in the black.
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.
2020 Alaska Comm. 46% gain-Buy-Out
2020 PDL BioPharma, 34% gain
2020 MIX Telegraphics, 27% gain
2020 QUAD Graphics, 3% gain
2020 VOXX, 1% gain
2020 Alaska Comm. 46% gain
2020 Cutera, 31% gain
2020 Aviat Networks, sold remaining 1/3 for a 7% gain (overall 15% gain)
2020 DHI .4% gain
2020 QUAD Graphics-54% gain
2020 Medical equipment company-sold 33% for a 61% gain
2020 Old line media company-sold 50% for a 44% gain
2019 EXFO, 1% gain
2019 PERI, 77% gain
2019 Quantum Corp, sold for 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 Aviat Newtowrks. (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 2020, 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.
Both AVID and ATEC jumped in November while SYNC continued to STINK.
SYNC reported Q3 earnings. They seemed to be going in the right direction but my valuation fell to $2.27 from $2.59 as advertising revenues continued to be hurt by COVID. Revenues were $18.5 million compared to $23.7 million last year (excluding AT&T revenues). $4.2 million of the revenue decline was advertising. They had an adjusted loss of $2.3 million compared to $1 million last year. Their recurring revenue was $8.1 million or about $32 million a year. SYNC’s entire market cap is $52 million. Recurring revenue multiples run anywhere from 3X to 15X.
ATEC reported Q3 earnings. As pre-announced, revenues soared to $40.1 million from $28.1 last year. They still lost $2 million of adjusted EBITDA compared to $3 million last year. They are projecting $143.5 million to $146 million of revenue for the year which means that Q4 should be in the $45 million range. My valuation rose to $5.74 from $3.92. While this has been trading way over my valuation (which I think is pretty conservative), it seems to have great momentum so I will hold for a while as next quarter looks to be pretty good also. While they only had a bit under $16 million of cash at the end of the quarter, this will increase by the recent stock offering to over $120 million, providing a long runway to continue to grow.
November 2020 Legacy Positions:
SYNC
Share cost $2.56
Current Price $1.46
Lifetime Gain (Loss) (43%)
YTD Loss 4%
Current Valuation $2.24
Price to Value ratio 64%
Prior Valuation $2.59
ATEC
Share cost $7.06
Current Price $10.50
Lifetime Gain 49%
YTD Gain 48%
Current Valuation $5.74
Price to Value ratio 183%
Prior Valuation $3.92
AVID
Share cost $8.35
Current Price $12.15
Lifetime gain 49%
YTD Gain 42%
Current Valuation $17.78
Price to Value ratio 68%
Prior Valuation $14.48
Private Subscriber Update-ALSK Buy-Out
I sold ALSK this week on the buy-out offer for $3.00 a share for another 46% gain. I bought ALSK back after closing out my previous position earlier this year for a 46% gain when the stock fell for no reason and they had good earnings.
