Update on portfolio

I haven’t updated the blog in a long time. I have been busy searching for new ideas, as the market seems to have dried out. I’m not finding much in the current market, but there are some interesting opportunities that I’m researching. Here are some recent updates to the holdings:

I sold out of Yukon-Nevada Gold, Goldgroup Mining, and Dolan Company. I wanted to get concentrated on certain positions that I believe would have better returns than these 3 holdings. So I sold these holdings to buy up the following positions.

I bought a new position in Scientific Learning and Chesapeake Energy. Both of these are small positions, as the stock price took off before I could buy all the shares I wanted to. I also bought more shares of MBIA, making it my biggest position. I bought the shares before the recent settlement. I still think there is plenty more upside to MBIA shares as it gets back to writing new business.

4 responses to “Update on portfolio”

    • I was my 3rd biggest position. I’m considering cutting back as I would like to buy up companies in the NatGas space. KFS is the a candidate where I would sell to buy something else.

  1. Hi, Love your blog. Bought Taro after your analysis and loved the run up. Any thoughts/analysis on Chesepaeke Energy and Scientific Learning?

    • Chesapeake is very cheap. Just based on liquidation value it is worth a lot more than current share price. If the turnaround is successful (meaning the company takes care of its debt issues and NatGas gets into mid-4s to 5s) then the returns is very good. You have management that has shown it is taking steps to clean the mess and make CHK into one of the top energy companies in US. I think you have to wait until 2014 to start seeing results.

      Scientific Learning is a turnaround that has already been through the worst part. The operations have gotten better, balance sheet issues have been resolved, and company will be cash flow positive in 2013. It is just not followed by anyone and is very illiquid.

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