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Friday, December 22, 2006

some thoughts

Looking back, I'm amazed at how long the market gives you to make investment decisions before asking "Is that your final answer?" I can't think of many exceptions and when they happen, it's usually the result of waiting way too long in the face of mounting evidence (good or bad).

I may sell CXTI before too long, but it's a tough call to make. I strongly believe the company will do extremely well over a long time period. Five years from now, earnings could be much higher than they are now. But if I can find an investment that's extremely undervalued, it's likely to beat CXTI. I suppose it will depend on comparing the two. It's tempting to keep some CXTI in a taxable account.

JLF Asset Management (aka Jeffrey L. Feinberg and underlings) just filed a 13G statement with the SEC and it now owns 17.75% of CXTI (see also here and here and here). He also owns Veri-Tek, E Com Ventures, Chardan North China Acquisition Corp, Industrial Enterprises of America, Cost Plus Inc., and a lot of other stuff including True Religion Jeans. He was accused a while back of window dressing. I consider it a total non-issue: at best it might present an opportunity to dump some shares at a premium at the end of next week.

It's taking a lot of work just to prepare for the next pass through the Pink Sheets. I expect to cover about 3 to 4 thousand companies this time. I'm including ADRs and warrants and all the other stuff in the list; hopefully it won't confuse the help and slow down the pipeline. I figure the whole effort will last about six months. I'm hoping CXTI and Strathmore Minerals and maybe another investment reach full value before then.

I need to focus on following a large number of companies more closely in the future. What I've been doing has been clumsy and I can easily miss opportunities. I've got a number of ideas for improvement.


Do you know of any contracts that will start in Q1 and Q2 of 2007 ? all the recent contract wins are starting after July 2007
Based on the latest 10-Q and the various 8-K filings after it, I believe none of the projects start in the first half of 2007.
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