The markets continue to be dumb IMO. You have a stock like NEXN trading at 6.5 times 2024 earnings per ADR and a stock like PLTR trading at 70 times revenue and 350 times earnings. Who can make sense of this? I continue to buy value stocks according to my formula, but just not as much. I have bought ANGI (IAC looking to spin it off), PERI that is trading at 1X earnings (after deducting the value of its massive cash hoard from its market cap) and VNDA which has over $6 a share in cash, real products and a big pipeline of drugs. Nobody cares about these because they are not mentioned on Reddit!

This is my last regular update. I will likely continue to post interesting ideas from time to time.

I was up 6.4% last week.

I closed out CRNT–just before it jumped to $3.70 on Friday. I booked a 53% profit. You can’t lose taking a profit.

NEXN is finally moving and hit $10 this week, up 120% from when I bought it.

I am still waiting for IRIX to do SOMETHING.

Hopefully SNCR will announced their AT&T renewal shortly.

VNDA, ANGI and PERI all look very cheap to me.

EDAP and SNCR have been killing me. I am down to 0% gain for the year. I guess I got greedy on both.

I dumped DHX and took my lumps. It worked four times before, but not this time. Even their new CFO left. Lost 36%.

I dumped VNDA for a 7% gain. They have more cash than their market cap, but no one cares.

I dumped SBLK for a 6% loss.

I tried to get out of CRNT but was only able to sell some for a 55% gain. Good earnings, but it couldn’t hold much of its gains. Again, a crappy market for small caps.

NEXN had great earnings but the stock went down anyway, just stupid.

I will wait for whatever deal IRIX comes up with. Hopefully this will happen soon. They have taken over a year to do something. Now they say they are close.

I find 180 Degree Capital quarterly shareholder letters interesting regarding their perspective on small caps and value stocks.

https://d1io3yog0oux5.cloudfront.net/_1e1471301fd36c83d1e2f17ecb7f3de9/180degreecapital/db/373/2906/letter_to_shareholders/Q3+2024+shareholder+letter+-+FINAL.pdf

More earnings reports this week:

NXXN-$15.02 up from $14.06

SNCR-$20.34 up from $19.68

IRIX-$3.79 down from $4.25, still waiting for the long promised “transaction”

CRNT-$5.15 up from $4.60

SCOR-$47.06 up from $41.68

I am in the process of liquidating all of my CSI stock positions. I sold a bunch last week. 

I am obviously out of tune with this market. Value stocks are being shunned for stocks trading at PE’s of 20 and up. PE’s of 50 and more are common. Either this is finally the “new economy baby” like they were touting back in 1999, or this is the biggest bubble I have seen in my 50 years of being in the market fueled by reckless government spending and total disregard for any risk in the market or economy. So I am folding up my tent and will stop posting any regular updates after next week. I ended up with an 85% win rate since 2015. I am 72 now and will just be mostly buying CD’s! Good luck to all of you in your investing.

CSI was up 2.1% last week and up 8.0% for the year

NYSE was up 4.1% last week and up 18.3% for the year

NASDAQ was up 7.0% last week and up +28.5% for the year

Russell 2000 was up 9.4% last week and is up 18.4% for the year

Magnificent 7 was up 7.5% last week and up +38% for the year

EDAP valuation new=$6.20 down from $7.42

VNDA valuation new=$14.27 down from $15.44. Has $6.46 in net cash.

CTRM valuation new=$18.01 down from $22.49

ARAY valuation new=$4.91 down from $5.59

The market has gone nuts again. Stocks selling at 100 times earnings and more. Value stocks are in the dumpster.

CSI was up .1% last week and up 6.0% for the year

NYSE was down 1.2% last week and up 14.2% for the year

NASDAQ was down 1.9% last week and up +21.5% for the year

Russell 2000 was up .1% last week and is up 9.0% for the year

Magnificent 7 was down 2.6% last week and up +30.5% for the year

CSI was down 8% last week and up 5.8% for the year

NYSE was down 2.5% last week and up 15.4% for the year

NASDAQ was up .2% last week and up +23.4% for the year

Russell 2000 was down 3.4% last week and is up 8.9% for the year

Magnificent 7 was up 2.5% last week and up +33.1% for the year

CSI was down 2.2% last week and up 13.9% for the year

NYSE was up 1.0% last week and up 18.0% for the year

NASDAQ was up 1.0% last week and up +23.2% for the year

Russell 2000 was up 2.1% last week and is up 12.3% for the year

Magnificent 7 was up 1.1% last week and up +30.6% for the year

These are all the stocks I own as of 10/11/2024

SNCR-largest holding by far-up, 38% of all holdings. Valuation-$19.68

EDAP-down-Valuation-$7.42

SCOR-down-Valuation-$41.68

PRTS-down-$10.43

IRIX-down-Valuation-$4.25

ARAY-down-Valuation-$5.59

NEP-up-dividend stock

GSL-PB-up-dividend stock

AI-Up

BAX-down-speculation-dividend stock

CTRM-down-Valuation-$22.49

CRNT-up-Valuation-$4.60

NEXN-up-Valuation-$14.06

DHX-down-Valuation-$6.73

VNDA-down-$15.14

NMTC-down-speculation

SBLK-down-dividend stock