Solitron Devices (OTC:SODI) A Net Net Stock added to Portfolio
Today I bought 1500 shares of Solitron Devices (OTC:SODI) at $2.22/share with a $4.95 brokerage fee for a total of $3334.95 investment. For someone maintaining a small portfolio this is a large investment.
Net Net (NCAV) Stock Screeners
I am going to give up the best net current asset value (NCAV) stock screeners I know, but it is really a plea to find new ones, because the one’s I know have become either dated, less relevant, or are not cheap. First, for the beginning investors, I will describe a stock screener. As it’s name implies a stock screen sifts through stocks and winnows the wheat from the chaff. On a good one, you get to decide what is chaff and what is wheat. On the less than great ones, the you are told what is wheat and chaff.
Qiao Xing Universal Telephone, Inc. (XING) Net Net Stock – Buy
On Friday I purchased 1500 shares of Qiao Xing Universal Telephone, Inc (XING) at $1.91/share with my TradeKing account, so my brokerage fee was $4.95. Despite the name, Qiao is not a telephone company any more. They have recently focused their business to mining operations and are divesting themselves of their phone subsidiaries.
VaxGen (VXGN) Closed Position
I have sold my position in VaxGen at $.64/share. I originally opened my position in VXGN in August for $.54share because it was a Net Net stock whose potential was actually in the $.78-$.90 share range. Actually I sold out on November 18th, using a limit order at $.64 my return was about 18% in a little over three months.
A Premium Service worth checking out – Guru Focus
One of the premium services that I have subscribed to is GuruFocus. Although the site is known for tracking the trades of famous and the not so famous, but perhaps, interesting investment “guru’s”. I am not much of a follower. If you are a value investor you are probably by nature also slightly contrarian. Of course, if the numbers add up for you it doesn’t hurt to have a Seth Klarman or Marty Whitman on your side. And I will analyze some companies that one the greats is interested in. I found Facet Biotech (FACT) this way and profited more than 70%.
Finding Investments Ideas in the Toxic Waste
One of the ways you can find investment ideas is to look in the toxic waste stocks. Not literally of course. No, I refer to stocks that have taken a dive bomb in price. This morning I was looking at Google finance and I saw that Poniard Pharmaceuticals (PARD) had tanked a fantastic 75% on news that its lead drug candidate was rejected?
A possible Net Net stock – but not for Me
I want to highlight an investment idea that Jae over at Old School Value posted: Insmed Inc. (INSM). I decided rather than ignore investment ideas that I don’t buy into, I would mention them and let you the reader decide if it interests you. Check out his evaluation here of INSM. He makes a good case for the stock. Some of you may want to invest in it. Jae is a very smart guy who has had lots of good advice, you could do worse than follow his lead.
Why Not to invest in ASPN a Net Net Stock
As I have posted previously, I review a lot of blogs, and do a fair amout work with screeners to look for the next great deal. I wanted to highlight why I did not take a position in a stock that was recommended by one of my favorite value bloggers: Greenbackd. It had all the makings of a company I would like. It was a net net stock with a catalyst to help extract the value, in this case a likely liquidation.
Vaxgen A Net Net Update from Greenbackd
Greenbackd has an update on Vaxgen (VXGN) that is worth reading. Vaxgen is a net net stock that I suggested was worth a look on my August 4th post.
The Greenbackd post discusses new potential directors and an HIV drug that Vaxgen has some theoreticaly rights to if it exercises them. These are why the stock jumped a lot last week.
I am still moving. But since Greenbackd has done such a great job of posting an update I thought I would pass it on to you.
Closed Position in Facet Biotech (FACT) a former Net Net Stock sort of
This is sort of a cheat. I purchased my shares of Facet Bitoech before launching this blog. It does highlight a few ways that I have diverged from the true religion of value investing, while still being a believer. What? I know and I haven’t even started drinking yet.
I purchased 200 shares of FACT on 4/23 at $8.95/share. It looked to me to be a pseudo Net Net stock. What does that mean? It means that when I bought FACT its liquidation value was slightly higher than I bought it for, but it didn’t have a traditional track record or characteristics of a true Net net stock, like a good revenue stream. It was also a spin-off of the drug development operations of PDL Biopharma, doing double duty for me.
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