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Quarterly Performance Review Ending February 2018

Jan Svenda profile picture
Jan Svenda


  • I believe in transparency when doing equity research. Therefore, I regularly publish performance of every ticker that I wrote an article on alongside the initial thesis.
  • Through this, I want to build a strong habit of looking back at my own reasoning. The review will be heavily skewed to stocks where my thesis is not working.
  • The past three months have seen both several positive developments (largely on the long side) and negative ones (largely on the short side).
  • Due to my OTC newsletter, I am going to discontinue most of the coverage.

Dear Followers/Readers,

First of all, I would like to thank you for your continued interest in my work, and I hope you are getting value of out my research!

Before delving into the review, I wanted to provide an update. As you might know, I started my own OTC newsletter which should alleviate one of the main issues for investors, and that is idea sourcing. You can learn more about the newsletter in this SA blog post. Due to this, I have no longer the time to maintain meaningful coverage of the listed stocks.

In August of 2016, I introduced a monthly review of all of the tickers that I am actively covering alongside my initial thoughts about the stocks. I think this can be beneficial for the following reasons:

  • Learning exercise - I will primarily focus on stocks where my initial thesis was wrong. I will try to understand why, how to prevent this from happening in the future, and what should one do about this fact.
  • Increased frequency of thesis updates - This will be beneficial for people that are following specific tickers and might be interested in the latest developments that are not necessarily asking for a full-blown update.
  • Creating a database - It is always fun to look back and either laugh about failures or cheer about winners.

I am doing so through the following simple tables.

OTC-Only Long Ideas

Note: This does not include any of the new ideas tied to my newsletter.

Discontinued Coverage

Notes: The price at the origin is the opening price on the date of the first publication, and the current price is the closing price on last trading day of the month. The original thesis that is labeled Neutral (Long) is a thesis where I have a positive view on the stock, but for whatever

This article was written by

Jan Svenda profile picture
I am an investor and analyst focused on two fields. Deep value in the Over-The-Counter (OTC) space and short-selling on the listed markets. The first focus has involved me running my own newsletter for the past two years. Compiled database of research and stocks can be found on my website - https://jansvenda.com/. I am now working on various special situations within the OTC space. The short-selling focus is for now confined to my own research and weekly analysis of Short ideas for Seeking Alpha PRO+ community. From time to time I also contribute to Safety in Value's marketplace 'Microcap Review'.

Analyst’s Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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