Chroma Investing

Value Investing for beginning & small time investors and the value investing strategies of Graham & Klarman

IFON – InfoSonics NCAV stock BUY – Small Investor Portfolio

Last week, on 4/1/10 I purchased 650 shares of IFON – Infosonics at $ .7719/share  for the Chroma Investing Small Investor Portfolio.  This was a total investment of $506.74 including the $5.00 ChoiceTrade commission. The price dropped into the low .60’s until today where has recovered to .72/share.  I bought the shares because IFON is […]

Endwave (ENWV) an update

I posted on ENWV back in December when they had the illusion of a Net Net stock with a margin of safety. But it was all in the details. They had a slog of Preferred shares that weighed on the balance sheet. They were losing money, and seemed to have a lot of unhappy shareholders. There have been some changes since and I wouldn’t want anyone to be stuck with my previous assessment as the only look at the company. I still don’t own any shares. I am still on advocating buying ENWV, but the situation has changed enough to make it worth looking at least.

Clarus (CLRS) a NCAV stock – is it worth investing in?

Shadowstock posted this analysis of Clarus (CLRS). It is an interesting idea.

CLRS is essentially a shell company with Net Current Asset value of approx. $4.78/share. All its assets are either cash or short term investments. At its closing price of $4.45 today, it is trading at a small discount to its NCAV value.

Tegal (TGAL) barely a NCAV stock – Do Not Buy

On Tuesday I bought 1400 shares of Tegal Corp (TGAL) for $1.25/share plus a $4.95 commission for a total investment of $1754.95. Subsequent to my purchase of their shares, the company has issued a press release which outlines their 2009 Q3 results, with dramatically different assent situation that Q2. I will review this situation as it currently exists and not as it existed when I bought it. I no longer recommend this stock. This is a good example of what can happen to a Net Net stock. They are volatile and valuations can change dramatically.

Linktone (LTON) NCAV Stock – Buy

Yesterday I bought 1000 shares of Linktone (LTON) for $1.69/share and $4.95 commission for a total investment of $1694.95. inktone is, according to their latest 6k, ” one of the leading providers of wireless interactive entertainment services to consumers in China. Linktone provides a diverse portfolio of services to wireless consumers and corporate customers, with a particular focus on media, entertainment and communications. These services are promoted through the Company’s strong distribution network, integrated service platform and multiple marketing sales channels, as well as through the networks of the mobile operators in China. Through in-house development and alliances with international and local branded content partners, the Company develops, aggregates, and distributes innovative and engaging products to maximize the breadth, quality and diversity of its offerings.”

Solitron Devices (SODI) Update – 10Q filing

Time to update Solitron Devices (SODI). It is vital to update you assessment of company when they release new information. SODI has released a new 10Q. I purchased shares of SODI because they were a Net Net stock with Free Cash Flow growth possibilities.The News in the financials is not very exciting. But nothing bad either.

Qiao Xing Universal Telephone (XING) – Update – Is anything going on?

I am not big on updates on Portfolio stocks for no reason. A little over a month ago I said I was purchasing XING a Chinese Net Net Stock. I purchased the stock at $1.91/share and in the last five weeks the stock has risen to $2.73/share or about 42% increase. I am not complaining but I found myself asking, Why?

MNDO – Mind C.T.I. Why you must mind the details

I was reviewing a stock, Mind C.T.I. Ltd (MNDO), because it came across a screener as a Net Net opportunity. I wondered why it had so recently turned up.

MNDO is an Israeli company that, “a leading provider of convergent end-to-end billing and customer care product based solutions for service providers as well as telecom expense management (call management) solutions.”

Endwave (ENWV) a NCAV stock – Illusion or Reality?

Today I offer up a Net Net stock Endwave (ENWV). In an effort to bring choices to beginning and small time investors I will be presenting ideas, even if I don’t buy them. When I buy a stock I will always state how many shares I bought at what price and how much of a brokerage fee I paid, so it is clear what is actually possible to accomplish with a small amount of money or if you are just starting out.

Nu Horizon Electronics (NUHC) – A NCAV stock

It takes almost as much research to discover why you don’t want to invest in a company as why you do. But going through the process is important and we make different decisions for different reasons. Nu Horizons came to my attention in the NCAV Newsletter at Gurufocus that I have posted about before. When they recommended the stock it was trading around $3.85 and they had NUHC’s NCAV value as $6.81. In their words, “a 71% upside.” Very interesting. I began to investigate further.

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