January 1st, 2004
2003 is a pretty good year for me. There was quite a few stocks which is quite badly beaten in the poor market sentiment despite their fundamentals. For example, I picked up Crayfish (email outsourcing company) for 60cent on a dollar just on their cash value alone and made over 100% profit when they annouce they going return the cash and delist the stock.
I also made a right “bet” that technology recovery will start from hardware. Business will started to buy hardware since they probably hold back their spending in the last 3 years in the downturn and now they have to play catch up. My play in CHRT gave me some nice gain although I probably hop off the train a bit too early. It\’s a lesson I shouldn\’t forget.
Overall, I achieved an net gain of 71.81% compared to S&P (26.38%) and NASDAQ (50.01%). Hey, I still bet the market, which is what matters to me. Lets hope I\’ll do equally well in 2004. :-)
Graphs and Data extracted from my E*Trade account.