Echoing a theme on many other popular blogs, I’ve decided to look back on the year to some of my most popular posts by page views in 2010. I started the blog in May 2010, so it covers just over half of the year.
It turns out that the most popular post was on a stock that I never ended up investing in! With helpful links from Jae over at OSV, traffic for the first two posts was almost 40% higher than any other.
VIFL never quite reached my buy price, and I ended up missing out – the stock is up 82% since my original analysis.
My second special situations investment ended up with a nice annualized return. I continue to search for attractive tender offers (see my post on VR as well), but haven’t found any recently with enough spread.
The Resources section of ValueUncovered is one of the most popular pages.
I have an updated planned, as there are several new resources that I’ve been using recently.
Another how-to / general information type post. Considering how much time I spent searching for a good solution to this problem, I’m glad that it was valuable to visitors.
The first post ValueUncovered portfolio pick, the stock is up since my original writeup but is basically break-even compared to the S&P. I think the stock still has room to run as the company goes through a transition after a banner year in 2009.
I posted several updates on ADVC.OB as the company continued with its record-breaking performance. The stock paid out two quarterly dividends of $0.01 per share during 2010, for a yield of over 11%.
My first liquidation play, everything has been quiet with the stock over the past several months – I’m assuming that management is still on track to wrap up all outstanding obligations in order to make a final distribution to shareholders.
Unfortunately, EMMS was my biggest losing position of the year, as the intended going private transaction fell apart due to disagreements with the lender.
I learned a great deal from the experience, and am glad I sold when I did – the stock is now languishing around $0.75, well below the deal price.
Another stock that failed to meet my margin of safety requirements, I missed out on a significant gain as the stock appreciated. Management’s share buyback plan seems to have had the intended effect.
While popular from a page view standpoint, I decided to discontinue monthly updates due to short-term volatility. As a value investor, many positions can take months or even years to pay-off and I don’t want the focus to be on short-term performance.
I will be reviewing my portfolio on a quarterly basis, and will be posting the fourth quarter and full year review in the next few days.
Long APT, ADVC, NEXC