February 2016 Update

Well February was certainly better that January. There are still irrational stock prices out there, but some prices have come all the way back, but there is still a long way to go.

We are updating our open position portfolio once a month until all positions are sold.

February 2016 Performance:

Index February YTD
Dow 0.3% -5.2%
Nasdaq -1.1% -9.0%
CSI 1.0% -8.1%

Our 5 new stock positions are actually up 4.3% for the year.

Nothing much has changed with our opinions on our open positions. CRNT announced earning in February. Our valuation went down to $3.97 from $4.54 as the company is foregoing chasing low margin sales for more profits. We still think CRNT is way too cheap.

GSL dropped a bomb on us this morning. They had good earnings, but instead of increasing their dividend as previously announced—they eliminated it altogether. This will be a long haul here, a year or two at least. Lesson learned—again—don’t ever buy a British company with a CEO named Ian. This is my second one that bombed.

Per Share Current Lifetime 2016 Current Price to
Stock Cost Price Gain/Loss Gain/Loss Valuation Valuation
ARIS        1.61        4.14 157% -8.0% $     6.40 65%
CCUR **        4.58        6.94 52% 8.6% $     12.45 56%
BLIN        3.95        0.90 -77% -20.4% $     6.02 15%
DXM        6.46        0.03 -100% -75.0% NA NA
SYNC        2.56        1.77 -31% 1.1% $     5.20 34%
EXTR        3.43        2.82 -18% -30.9% $     8.76 32%
PRSS        4.01        3.68 -8% -4.2% $   7.97 46%
ATEC        0.59        0.19 -68% -36.7% $     1.82 10%
AVID        8.35        7.65 -8% 4.9% $     23.99 32%
CRNT        1.38        1.10 -20% -9.1% $     3.97 28%
CKP        6.76        7.51 11% 19.8% $     17.98 42%
MTSL        1.25        0.80 -36% -5.9% $     2.89 28%
GSL        3.09        2.12 -31% -18.5% $     6.00 35%
** Current price includes cumulative dividends
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