CSI Update-October 2017-Free Blog

We sold Concurrent in October for a 90% gain (including dividends) as it is selling the last of its operating business.

Of our closed out positions on the Blog, since inception, we have had 71 winners, 17 losers for an 80.7% win-rate with an average gain of 38.4%.

Since we now have only 5 stocks in our “portfolio” we will be discontinuing the portfolio performance metrics in 2017. We will continue to update on the remaining stock positions individually in 2017.

In October:

ATEC preannounced Q3 2017 results. They are expecting domestic revenues of about $20.4 to $20.7 million compared to $21.9 last quarter. Margins are expected to be 69-69% compared to 71% last quarter and they expect operating expenses (not really defined) of about $16 million. So it looks like maybe an operating loss of about $2 million. Some of the revenue shortfall was blamed on the hurricanes and a shorter quarter. They did say they expect Q4 revenues to be higher. I expect my valuation to fall to maybe $6.50 a share. I am not worried—yet. With the ex-Nuvasive guys on board and investors my expectations have risen, but it will likely take a few quarters to see the results. Meanwhile the stock price jumped 65% in October.

October 2017 Legacy Positions:

 

                  Share      Current      Lifetime      Current      Price to     Prior

 Stock         Cost          Price          Gain            Value         Value       Value

BLIN            $19.76       $2.68          (86%)               $7.01         38%        $7.20

SYNC             $2.56       $2.40           (23%)               $5.32         45%        $4.49

PRSS             $4.01        $2.05           (49%)               $6.49         32%        $5.61

ATEC            $7.06        $3.73           (47%)               $7.42         50%        $9.42

AVID            $8.35         $4.46           (47%)            $16.50         27%        $17.34

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