**YTD**

CSI (3.5%)

DOW (7.5%)

Russell 2000 (10.9%)

NASDAQ (14.9%)

**YTD**

CSI (3.5%)

DOW (7.5%)

Russell 2000 (10.9%)

NASDAQ (14.9%)

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All of the market averages are still down. I was down 3.6% in February and am down 2.6% for the year. The DOW is down 6.7% year-to-date and was down 3.4% in February, NASDAQ is down 12.1% year-to-date and was down 3.1% in February and the Russell 2000 is down 8.8% year-to-date and was actually up .9% in February. I am beating the market averages but I am losing money (so far) which makes it a bad year so far. I started one new position in February and exited two-Lee Enterprises (LEE) which is battling a take-over offer and BioDelivery Sciences (BDSI) which got a buy-out offer, for 41% and 54% gains respectively

As I have been writing about for months, inflation, supply chain issues, interest rates, oil prices, and on and on, look like they have finally made a dent in stock valuations, and now we have the Ukraine. We have already had a relatively small correction in the market and I am thinking it will correct further. I think anything Tech and Medical that has a valuation over 3X revenues that is not supported by good earnings will still have a ways to fall.

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. 93% of my closed position have been profitable

The cost to subscribe is $50 a month for individuals, with a 100 subscriber limit. First-time subscribers can purchase a 3 month subscription for $100. I am not trying to get rich by having thousands of subscribers. I do this for self-discipline in my investing, so I am accountable to someone besides myself, which helps keep me focused. I am NOT a trader. I buy my stocks thinking I will own them for 2 years. Many, I own for far less than two years, but some I have held for five years or more. Including my current open positions, 83% of my stocks have been or are profitable.

Through 2022 to date, I have averaged a 50.6% gain on the 60 stocks I have sold (56 winners and 4 losers) in my private portfolio since January 1, 2016. Seventeen of the 60 stocks seventeen have had buy-out offers, including two in 2016, six in 2017, two in 2018, none in 2019, two in 2020 and four in 2021 and one so far in 2022.

My total portfolio was up 42.7% in 2021, 30.6% in 2020 and 72.8% in 2019. I took most of these gains and banked them in cash.

I stopped publishing our free weekly CSI Blog after 10 years of publishing at the end of 2015. Since inception in 2006, I had 73 winners, 20 losers for a 78.5% win-rate with an average gain of 38.9% on the free blog.

If you are interested in becoming one of my private paid subscribers, please e-mail me at daveosowski@gmail.com to get all the terms and conditions.

Here is the list of private subscription stocks I have bought and closed out my position on, since December 2015.

2022 BioDelivery Sciences, 54% gain-**Buy-Out** offer

2022 Lee Enterprises, 41% gain-**Buy-Out** offer (yes again)

2022 Old-line Tech stock-Sold 1/3 for a 101% gain

2021 Tech Stock, 48% gain-**Buy-Out** (still holding some for tax reasons)

2021 Lee Enterprises, 115% gain

2021 Leaf Group, 84% gain-**Buy-Out**

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 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

2019 EXFO, 1% gain

2019 PERI, 77% gain

2019 Quantum Corp, sold for 48% gain

2019 EXTR, 15% 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, **Buy-Out**

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**

BDSI got a Buy-out offer on Monday. I sold all my shares for a 54% gain in just over 6 months.

2022 didn’t start out well for the market. All of the averages were down. I was up 1.0% in January. The DOW ended down 3.3%, NASDAQ ended down 9.0% and the Russell 2000 was down 9.7%, so I was able to beat the market averages again (so far). I didn’t start any new stock positions in January but I added to several positions as prices got beaten down for no reason and I sold 1/3 of an old-line tech stock for a 101% gain.

As I wrote about in December, inflation, supply chain issues, interest rates, oil prices, and on and on, look like they have finally made a dent in stock valuations. We have already had a relatively small correction in the market and I am thinking it will correct further. I think anything (Tech and Medical” that has a valuation over 3X revenues that is not supported by good earnings will still have a ways to fall.

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. 87% of my closed and open stock positions have been profitable.

The cost to subscribe is $50 a month for individuals, with a 100 subscriber limit. First-time subscribers can purchase a 3 month subscription for $100. I am not trying to get rich by having thousands of subscribers. I do this for self-discipline in my investing, so I am accountable to someone besides myself, which helps keep me focused. I am NOT a trader. I buy my stocks thinking I will own them for 2 years. Many, I own for far less than two years, but some I have held for five years or more. Including my current open positions, 86% of my stocks have been or are profitable.

Through 2022 to date, I have averaged a 50.5% gain on the 58 stocks I have sold (54 winners and 4 losers) in my private portfolio since January 1, 2016. Sixteen of the 58 stocks have had buy-out offers, including two in 2016, six in 2017, two in 2018, none in 2019, two in 2020 and four in 2021. No buy-outs so far in 2022.

My total portfolio was up 42.7% in 2021, 30.6% in 2020 and 72.8% in 2019. I took most of these gains and banked them in cash.

I stopped publishing our free weekly CSI Blog after 10 years of publishing at the end of 2015. Since inception in 2006, I had 73 winners, 20 losers for a 78.5% win-rate with an average gain of 38.9% on the free blog.

If you are interested in becoming one of my private paid subscribers, please e-mail me at daveosowski@gmail.com to get all the terms and conditions.

Here is the list of private subscription stocks I have bought and closed out my position on, since December 2015.

2022 Old-line Tech stock-Sold 1/3 for a 101% gain.

2021 Old Line media stock, **Buy-Out**,sold 75% for a 37% gain

2021 Tech Stock, 48% gain-**Buy-Out** (still holding some for tax reasons)

2021 Lee Enterprises, 115% gain

2021 Leaf Group, 84% gain-**Buy-Out**

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 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

2019 EXFO, 1% gain

2019 PERI, 77% gain

2019 Quantum Corp, sold for 48% gain

2019 EXTR, 15% 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, **Buy-Out**

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**

.

It was a pretty good year for me and not bad for the market averages either. I was up 3.4% in December and ended up 42.7% for the year. The DOW ended up 18.7% (up 6% in December) and NASDAQ ended the year up 21.4% (up .8% in December), so I beat the market averages handily. I added one new position in December. One of my stocks got a buy-out offer and is still in play. I sold 75% of my position in this stock and am just playing with the rest.

I had four stocks that had buy-out offers in 2021.

2022 looks like it will be characterized by all different kinds of highs. High inflation, high tax hikes, high oil prices, high crime, high illegal immigration, high national debt, and high foreign policy risks. I am not expecting much for the market in 2022. A market correction or crash has to happen eventually and may already be starting, so I am continuing to try to be cautious. I have banked just over 30% of my 2021 gains and cut my market exposure by about 13% this year.

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.

The cost to subscribe is $50 a month for individuals, with a 100 subscriber limit. First-time subscribers can purchase a 3 month subscription for $100. I am not trying to get rich by having thousands of subscribers. I do this for self-discipline in my investing, so I am accountable to someone besides myself, which helps keep me focused. I am NOT a trader. I buy my stocks thinking I will own them for 2 years. Many, I own for far less than two years, but some I have held for five years or more. Including my current open positions, 86% of my stocks have been or are profitable.

Through 2021, I have averaged a 50.4% gain on the 58 stocks I have sold (54 winners and 4 losers) in my private portfolio since January 1, 2016. Sixteen of the 58 stocks have had buy-out offers, including two in 2016, six in 2017, two in 2018, none in 2019, two in 2020 and four so far in 2021.

My total portfolio was up 30.6% in 2020 and 72.8% in 2019. I took most of these gains and banked them in cash.

I stopped publishing our free weekly CSI Blog after 10 years of publishing at the end of 2015. Since inception in 2006, I had 73 winners, 20 losers for a 78.5% win-rate with an average gain of 38.9% on the free blog.

If you are interested in becoming one of my private paid subscribers, please e-mail me at daveosowski@gmail.com to get all the terms and conditions.

Here is the list of private subscription stocks I have bought and closed out my position on, since December 2015.

2021 Old Line media stock, **Buy-Out**,sold 75% for a 37% gain

2021 Tech Stock, 48% gain-**Buy-Out** (still holding some for tax reasons)

2021 Lee Enterprises, 115% gain

2021 Leaf Group, 84% gain-**Buy-Out**

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 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

2019 EXFO, 1% gain

2019 PERI, 77% gain

2019 Quantum Corp, sold for 48% gain

2019 EXTR, 15% 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, **Buy-Out**

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**

November was a down month in general. I was down 3.3% in November and ended up 39.3% for the year so far compared to 42.6% last month. The DOW is up 12.7% (down 3.6% in November) and NASDAQ is up 20.6% (up .3% in November), so I am still well ahead of the market averages. I sold parts of six of my stocks for a 19% gain across all these stocks and I added one new position. One of my stocks got a buy-out offer and is still in play. I sold 1/3 of my position in this stock.

We are 11 months through 2021, inflation is rampant and the prospects of tax hikes, high oil prices, high crime, the national debt, and foreign policy risks are all real. A market correction or crash has to happen eventually and may already be starting, so I am continuing to try to be cautious. I have banked just over half of my 2021 gains and cut my market exposure by about 23% so far this year.

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.

The cost to subscribe is $50 a month for individuals, with a 100 subscriber limit. First-time subscribers can purchase a 3 month subscription for $100. I am not trying to get rich by having thousands of subscribers. I do this for self-discipline in my investing, so I am accountable to someone besides myself, which helps keep me focused. I am NOT a trader. I buy my stocks thinking I will own them for 2 years. Many, I own for far less than two years, but some I have held for five years or more. Including my current open positions, 86% of my stocks have been or are profitable.

Through November, 2021, I have averaged a 50.4% gain on the 58 stocks I have sold (54 winners and 4 losers) in my private portfolio since January 1, 2016. Sixteen of the 58 stocks have had buy-out offers, including two in 2016, six in 2017, two in 2018, none in 2019, two in 2020 and four so far in 2021.

My total portfolio was up 30.6% in 2020 and 72.8% in 2019. I have taken most of my gains and banked them in cash.

I stopped publishing our free weekly CSI Blog after 10 years of publishing at the end of 2015. I closed out the two remaining stock positions on the Blog in February 2021. Since inception in 2006, I had 73 winners, 20 losers for a 78.5% win-rate with an average gain of 38.9% on the free blog.

2021 Old Line Media Stock,-**Buy-Out,** 18% gain

2021 Tech Stock, 48% gain-**Buy-Out** (still holding some for tax reasons)

2021 Lee Enterprises, 115% gain

2021 Leaf Group, 84% gain-**Buy-Out**

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 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

2019 EXFO, 1% gain

2019 PERI, 77% gain

2019 Quantum Corp, sold for 48% gain

2019 EXTR, 15% 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, **Buy-Out**

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**

October was a decent month. I was up 3.3% in October and ended up 42.6% for the year so far compared to 39.3% last month. The DOW is up 16.3% (up 5.7% in October) and NASDAQ is up 20.3% (up 8.2% in October), so I am still well ahead of the market averages but my lead narrowed in October. I sold most of one of my tech stocks for a 48% gain in about five months on a buy-out offer and bought two new stocks in October.

We are 10 months through 2021, inflation is rampant and the prospects of tax hikes, high oil prices, high crime, the national debt, and foreign policy risks appear to be rising. A market correction or crash has to happen eventually, so I am continuing to try to be cautious. I have banked just over half of my 2021 gains and cut my market exposure by about 20% so far this year.

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 October, 2021, I have averaged a 50.9% gain on the 58 stocks I have sold (54 winners and 4 losers) in my private portfolio since January 1, 2016. Fifteen of the 58 stocks have had buy-out offers, including two in 2016, six in 2017, two in 2018, none in 2019, two in 2020 and 3 so far in 2021.

My total portfolio was up 30.6% in 2020 and 72.8% in 2019. I have taken most of my gains and banked them in cash.

I stopped publishing our free weekly CSI Blog after 10 years of publishing at the end of 2015. I closed out the two remaining stock positions on the Blog in February 2021. Since inception in 2006, I had 73 winners, 20 losers for a 78.5% win-rate with an average gain of 38.9% on the free blog.

2021 Tech Stock, 48% gain-Buy-Out (still holding some for tax reasons)

2021 Lee Enterprises, 115% gain

2021 Leaf Group, 84% gain-**Buy-Out**

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 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

2019 EXFO, 1% gain

2019 PERI, 77% gain

2019 Quantum Corp, sold for 48% gain

2019 EXTR, 15% 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, **Buy-Out**

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**

September was a stinker of a month all around. I was down 1.7% in September and ended up 39.3% for the year so far compared to 41% last month. The DOW is up 10.6% (down 4.9% in September) and NASDAQ is up 12.1% (down 6.3% in Spetember), so I am still well ahead of the market averages. I didn’t sell anything in September or buy any new stocks, but I added to a couple of existing positions that I am bullish on.

We are 3/4 through 2021, inflation is rampant and the prospects of tax hikes, high oil prices, high crime and foreign policy risks appear to be rising. A market correction or crash has to happen eventually, so I am continuing to try to be cautious. I have banked over half of my 2021 gains and cut my market exposure by just under 25% so far this year.

Through September, 2021, I have averaged a 51% gain on the 58 stocks I have sold (54 winners and 4 losers) in my private portfolio since January 1, 2016. Fourteen of the 58 stocks have had buy-out offers, including two in 2016, six in 2017, two in 2018, none in 2019, two in 2020 and two so far in 2021.

My total portfolio was up 30.6% in 2020 and 72.8% in 2019. I have taken most of my gains and banked them in cash.

I stopped publishing our free weekly CSI Blog after 10 years of publishing at the end of 2015. I closed out the two remaining stock positions on the Blog in February 2021. Since inception in 2006, I had 73 winners, 20 losers for a 78.5% win-rate with an average gain of 38.9% on the free blog.

2021 Lee Enterprises, 115% gain

2021 Leaf Group, 84% gain-**Buy-Out**

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 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

2019 EXFO, 1% gain

2019 PERI, 77% gain

2019 Quantum Corp, sold for 48% gain

2019 EXTR, 15% 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, **Buy-Out**

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**

August was a comeback month for me. I am still not where I was earlier in the year though. I gained 3.9% in August and ended up 41% for the year so far compared to 37.1% last month. The DOW is up 15.5% (up 1.4% in August) and NASDAQ is up 18.4% (up 4.6% in August), so I am still well ahead of the market averages. I didn’t sell anything in August or buy any new stocks, but I added to a couple of existing positions that I am bullish on.

We are 2/3rds through 2021, inflation is rampant and the prospects of tax hikes, high oil prices, high crime and foreign policy risks appear to be rising. Who knows if Afghanistan will affect the market going forward. A market correction or crash has to happen eventually, so I am continuing to try to be cautious. I have banked just over half of my 2021 gains and cut my market exposure by just under 25% so far this year.

The cost to subscribe is $50 a month for individuals, with a 100 subscriber limit. First-time subscribers can purchase a 3 month subscription for $100. I am not trying to get rich by having thousands of subscribers. I do this for self-discipline in my investing, so I am accountable to someone besides myself, which helps keep me focused. I am NOT a trader. I buy my stocks thinking I will own them for 2 years. Many, I own for far less than two years, but some I have held for five years or more. Including my current open positions, 91% of my stocks have been or are profitable.

Through August, 2021, I have averaged a 51% gain on the 58 stocks I have sold (54 winners and 4 losers) in my private portfolio since January 1, 2016. Fourteen of the 58 stocks have had buy-out offers, including two in 2016, six in 2017, two in 2018, none in 2019, two in 2020 and two so far in 2021.

2021 Lee Enterprises, 115% gain

2021 Leaf Group, 84% gain-**Buy-Out**

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 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

2019 EXFO, 1% gain

2019 PERI, 77% gain

2019 Quantum Corp, sold for 48% gain

2019 EXTR, 15% 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, **Buy-Out**

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**

July was a sobering month for me. I dropped 6% of my profits for 2021. I am up 37.1%% compared to 43.3% last month. The DOW is up 14.1% and NASDAQ is up 13.8%, so I am still well ahead of the market averages, but my lead is shrinking as investors sold off small cap value stocks to chase “growth” stocks most of which are not profitable and trade at crazy valuations. I didn’t sell anything in July, but I bought a couple of new stocks and added to a couple existing positions.

Although we are just a month more than half way through 2021, inflation is rampant and the prospects of tax hikes, high oil prices, high crime and foreign policy risks appear to be rising. A market correction or crash has to happen eventually, so I think this is a time to be cautious. I have banked most of my 2021 gains and cut my market exposure by just under 30% so far.

The cost to subscribe is $50 a month for individuals, with a 100 subscriber limit. First-time subscribers can purchase a 3 month subscription for $100. I am not trying to get rich by having thousands of subscribers. I do this for self-discipline in my investing, so I am accountable to someone besides myself, which helps keep me focused. I am NOT a trader. I buy my stocks thinking I will own them for 2 years. Many, I own for far less than two years, but some I have held for five years or more. Including my current open positions, 90% of my stocks have been or are profitable.

Through July, 2021, I have averaged a 51% gain on the 58 stocks I have sold (54 winners and 4 losers) in my private portfolio since January 1, 2016. Fourteen of the 58 stocks have had buy-out offers, including two in 2016, six in 2017, two in 2018, none in 2019, two in 2020 and two so far in 2021.

My total portfolio was up 30.6% in 2020 and 72.8% in 2019.I took almost my entire gains and banked them in cash.

2021 Lee Enterprises, 115% gain

2021 Leaf Group, 84% gain-**Buy-Out**

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 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, **Buy-Out**

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**