Friday, April 22, 2016

COMX is as cheap as they come

Let's play 'value that company'.  Have a think about what you might pay for this:
  • cash $3M
  • total liabilities $2M
  • debt $750k
  • BV $6.3M
  • TBV $5.7M
  • 1.6M shares out
  • no preferred or warrants
  • revenue $10.3M
  • net income $1M 2015 vs $0.7M 2014 vs $0.4M 2013
  • EPS $0.62 vs $0.47 vs $0.24
  • catalyst:  Nothing.  Patience is your only hope here.  HA!

Tuesday, April 19, 2016

NoName Annual Performance 2015-2016

What a year it has been.  Ian Cassel of MicroCapClub has a quote which I just love, "Don’t compare yourself to others. Compare yourself to yourself two years ago."  It's hard not to compare to others in something as tangible as investing but I try and this quote really helps.  When I think back to myself as an investor 2 years ago I smile.  In the first year I made some good decisions and mixed in a lot of luck; I wonder if I'd still be doing this if that luck wasn't there.  Things can be fragile when beginning down a new path.  

Monday, April 4, 2016

GIGA's glass is half full

When you look at a company do you see the past or look to the future?  Has the turnaround candidate been struggling or adapting?  Management may be selling off divisions, cutting back on headcount, or selling their building just to lease it this to fund their salaries for another year or develop that new product?  Sometimes there are two valid paths and you have to decide if the company will continue down the old or switch to the new.  Such is the case with Gigatronics.  Maybe they keep losing money and end up in the tank.  Or maybe their new products deliver on all the promise.  Maybe management's excitement bears fruit.

Friday, April 1, 2016

Fidelity blocks dark companies

Well chalk up today to a bad day.  I found out this morning that Fidelity has decided to block companies marked with a stop from  This includes at least the companies on otcmarkets Caveat Emptor list.  Generally for me this means Fidelity is blocking companies that don't file with otcmarkets.