Just a note

We only have 7 remaining stocks in our legacy portfolio.

We think 3 of them are screaming buys, 3 are holds and 1 is a hope.

SYNC will begin to see the impact of the $100 million AT&T contract in 2017. We think it is worth double the current trading price before the AT&T contract.

AVID has 2 analysts covering it now that both have current year earnings estimates over $2 a share. So AVID is trading at like 4.5 times earnings. This is a software company with 30% of its revenues recurring.  CHEAP

ATEC is selling its European operations for $80 million.  This looks like it was about 40% of their business. This deal will allow them to get out of jail with their lender which is what was killing the stock price, in our opinion. Our current valuation is $1.97 a share versus the $.30 it is trading at.

GSL is the “hope” referred to above. We can’t predict when management outright lies in their press releases that they will increase their dividend from $.40 a share to $.50–and then eliminate it entirely. Operationally they are doing just fine.



  1. Given AVID’s financials are massively skewed by non-cash charges and their liberal use of non-GAAP metrics, don’t you think cash flow would be a better way to analyze the company? Doesn’t look that cheap after considering the ongoing cash burn and the meager 2016 FCF guidance.

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