Time to tally the books.

Time to tally the books. I started this blog at the end of January 2009. During this time, I offered specific opinions on 28 stocks. On 11 occasions, I expressed the opinion that the stock was undervalued and on 17 occasions, I said that the stock, at the then current price, was overvalued. The results shown below are not time weighted; the returns are actuals for whatever period of time shown.

Undervalued at Time of Blog Entry

Ticker	Date of Blog	Price$	Opinion	05/29/09 Price$	Profit/Loss %
TKC	05/17/09	$12.25	long	$12.67	3.43%
CHKP	05/03/09	$23.63	long	$23.30	-1.40%
MCRS	04/26/09	$20.61	long	$25.90	25.67%
ENDP	03/22/09	$16.79	long	$16.07	-4.29%
WDC	03/15/09	$17.21	long	$24.58	42.82%
ADP	03/08/09	$33.28	long	$38.00	14.18%
TNH	02/18/09	$125.26	long	$123.73	-1.22%
CSCO	02/12/09	$17.04	long	$18.51	8.63%
CSGS	02/08/09	$15.47	long	$13.66	-11.70%
RHI	02/08/09	$18.22	long	$21.11	15.86%
EME	01/28/09	$20.72	long	$21.82	5.31%
Average					8.84%

Overvalued at Time of Blog Entry

Ticker	Date of Blog	Price$	Opinion	05/29/09 Price$	Profit/Loss %
NFLX	04/13/09	$46.95	short	$38.54	21.82%
BAX	02/28/09	$58.05	short	$49.82	16.52%
AAP	02/08/09	$33.63	short	43.42	-22.55%
AEO	02/08/09	$9.64	short	$14.51	-33.56%
BBBY	02/08/09	$24.00	short	$27.87	-13.89%
BF.B	02/08/09	$48.18	short	$44.79	7.57%
CLC	02/08/09	$32.82	short	$28.54	15.00%
CREE	02/08/09	$21.84	short	$30.20	-27.68$
EW	02/08/09	$61.10	short	$63.50	-3.78%
IDC	02/08/09	$24.42	short	$23.43	4.23%
ESI	02/08/09	$128.87	short	$90.55	42.32%
MKTAY	02/08/09	$22.81	short	$22.29	2.33%
NKE	02/08/09	$48.68	short	$55.11	-11.67%
PAYX	02/08/09	$26.93	short	$27.17	-0.88%
RTN	02/08/09	$47.80	short	$44.69	6.96%
COL	02/08/09	$38.90	short	$42.33	-8.10%
STRA	02/08/09	$222.04	short	$179.44	23.74%
Average					1.08%

Overall, my longs did reasonably well returning an average of 8.84% during the period. The shorts remained in positive territory by posting a return of 1.08%. The best long (WDC) returned 42.82% whereas the worst of the longs (CSGS) lost 11.70%. The best performing short was my call on ESI which returned 42.32%. The worst performer in this category is AEO which lost 33.56%.

Compared to the overall market, these returns do not look so bad.

Disclosure: At the time of writing this blog entry, I am long CHKP and ENDP. Since January, I have traded MCRS, CSCO and EME.