Issue 5: Small/Midcaps

Issue 5 was not nearly as pleasant as Issue 4 for the small/midcaps.  Most of the industries were not very profitable and I found very few interesting companies.  Many businesses lost money in the recession, or they were recently public.   I don’t like to analyze companies if they don’t have a long track record.  It does not interest me in the slightest if I have to make a guess at how profitable a new company will be in the future. Also, the human resources companies provide temporary blue-collar or white collar workers, but with unemployment at 9.5% or so, I’m thinking they will continue to have trouble.   Great businesses in the issue:


  • Petmed Express

Yes, only one great business. It might be interesting to learn that those lame commercials actually make them a good amount of money.  I haven’t looked into them further, and they’re not at a good price, but they possess great underlying fundamentals.  In terms of interesting situations, there were none.  The market is giving us less and less to work with every day.


About Andrew Schneck

I am a value investor focused on misunderstood securities and industries, with an eye for long-term stock ownership.
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