We had CRNT in our Blog in 2015 and booked a 63% gain in August last year.

We recommended CRNT again to our private subscribers in October 2016 at $2.34 (average cost) and sold it yesterday at $3.47

We have sold 8 of our private positions in 2016 (either fully or partially).

Imation—31% gain

Mitel-15% gain

United Online-6% loss (take-under)

SGI—70% gain on takeover.

AVID-55% gain (this was a trading position-in addition to our long-term holding)

HLIT-85% gain. We sold 75% of our position here.

UVE-36% gain.

ATEC-71% gain. (This was a trading position-in addition to our long-term holding)

If you are interested in becoming one of our private paid subscribers, please e-mail me at daveosowski@gmail.com. It is NOT CHEAP though.

We averaged a 41% gain on our 8 sold positions in our private portfolio and are up 2.5% on our other 16 positions.

December was not a good month—down 5.6% compared to the Dow up 3.3% and NASDAQ up 1.1%. We still ended 2016 up a healthy 18.3% compared to the DOW up 13.4% and NASDAQ up 7.5% for the year.

Here is our portfolio track record since 2006:

Annual performance:

2016 +18.3%

2015   +8%

2014   +11.5%

2013   +47.9%

2012   +30.9%

2011   (.6%)

2010   +37.6%

2009   +88.9%

2008   (46.5%)

2007   +11.1%

2006   +14.4%

Average gain of 20.5%

Compound annual gain of 15.2%

Of our closed out positions since inception, we have had 70 winners, 17 losers for an 80% win-rate with an average gain of 38%.

Since we have only 6 remaining 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.

December 2016 Performance:

We have sold 8 of our private positions in 2016 (either fully or partially).

Imation—31% gain

Mitel-15% gain

United Online-6% loss (take-under)

SGI—70% gain on takeover.

AVID-55% gain (this was a trading position-in addition to our long-term holding)

HLIT-85% gain. We sold 75% of our position here.

UVE-36% gain.

ATEC—71% gain. (This was a trading position-in addition to our long-term holding)

If you are interested in becoming one of our private paid subscribers, please e-mail me at daveosowski@gmail.com. It is NOT CHEAP though.

We averaged a 41% gain on our 8 sold positions in our private portfolio and are up 3% on our other 16 positions.

November was just a so-so month–up .7% compared to the Dow up 5.6% and NASDAQ up 2.7%. We are still up a healthy 23.9% compared to the DOW up 9.7% and NASDAQ up 6.3% for the year. GSL was up 130% and got close to our cost basis and we got out at $3.00. It is now sub-$2 again.

We are updating our open legacy portfolio once a month until all positions are sold. Of our closed out positions since inception, we have had 70 winners, 17 losers for an 80% win-rate with an average gain of 38%.

November 2016 Performance:

Hopefully you all were able to get out of this today. We did at about $3.01. It was a wild day for sure.

We have sold 8 of our private positions in 2016 (either fully or partially).

Imation—31% gain

Mitel-15% gain

United Online-6% loss (take-under)

SGI—70% gain on takeover.

AVID-55% gain (this was a trading position-in addition to our long-term holding)

HLIT-85% gain. We sold 75% of our position here.

UVE-36% gain. Hurricane Matt, was our decision maker to get out.

ATEC—71% gain. (This was a trading position-in addition to our long-term holding)

If you are interested in becoming one of our private paid subscribers, please e-mail me at daveosowski@gmail.com. It is NOT CHEAP though.

We averaged a 41% gain on our 8 sold positions in our private portfolio and are up 2% on our other 13 positions.

For our legacy stocks, October stunk up the place as we were down 13% as ATEC gave back 34%, GSL 20% and BLIN 21% for no reason. The legacy portfolio is still up 23% in 2016.

We are updating our open legacy portfolio once a month until all positions are sold. Of our closed out positions since inception, we have had 70 winners, 16 losers for an 81% win-rate with an average gain of 39%.

October 2016 Performance:

We have sold 6 of our private positions in 2016.

Imation—31% gain

Mitel-15% gain

United Online-6% loss (take-under)

SGI—70% gain on takeover.

AVID-55% gain (this was a trading position-in addition to our long-term holding)

HLIT-85% gain. We sold 75% of our position here.

If you are interested in becoming one of our private subscribers, please e-mail me at daveosowski@gmail.com.

Our 15 new, private stock positions (including the 6 sold positions) are up 31% for the year.

For our legacy stocks, September was again pretty good- up 5.7%, driven by a 134% gain in ATEC. The legacy portfolio is up 36.9% in 2016.

We are updating our open legacy portfolio once a month until all positions are sold. Of our closed out positions since inception, we have had 70 winners, 16 losers for an 81% win-rate with an average gain of 39%.

September 2016 Performance:

We have sold 5 of our private positions in 2016.

Imation—31% gain

Mitel-15% gain

United Online-6% loss (take-under)

SGI—70% gain on takeover.

AVID-55% gain (this was a trading position-in addition to our long-term holding)

If you are interested in becoming one of our private subscribers, please e-mail me at daveosowski@gmail.com

Our 15 new, private stock positions (including the 5 sold positions) are up 18.6% for the year.

For our legacy stocks, August was not as good as July but still pretty good- up 4%, driven by a 38% gain in AVID, which we think still has a long way to go.

We are updating our open legacy portfolio once a month until all positions are sold.Of our closed out positions since inception, we have had 70 winners, 16 losers for an 81% win-rate with an average gain of 39%.

August 2016 Performance:

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.

We are taking our gain on CRNT in just less than 1 year. It may go higher, but we would rather be early selling for a good gain than late, and lose it.

We had a great YEAR, in July. Driven by big gains in ARIS (19%), CRNT (37%), and GSL (35%) we were up 26.7% in July and are now up 27.2% for the year.

Even ATEC had good news. They are selling their European distribution operations for $80 million and paying off all their debt (which they were in default on). We are surprised that the stock did not at least double on the news.

BLIN also seems to have solved its debt problems by converting some or all of it to stock.

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

Of our closed out positions since inception, we have had 69 winners, 16 losers for an 81% win-rate with an average gain of 38%.

July 2016 Performance:

Our 13 new, private stock positions (including 2 sold positions) are up 10% for the year.