Performance Update

My biggest goal at the moment is to clearly define an investment process that works for me. I have a large number of names on my watch list which I am beginning to dig into so hopefully I will have more stuff to post soon.

Our two positions are in CTCM and MSG. CTCM is currently up roughly 16% at the time of this writing since we initiated a position. Ukraine has moved off the front page somewhat. Hopefully things will continue to work themselves out over there and the stock will move up accordingly as 'perceived' risk dimishes.

Madison Square Garden Co. is a small position that is up over 4% since initiation. A conservative sum-of-the-parts analysis puts the value of the company at over $70 p/share easy - currently sitting just above $52.

We will continue to hold these two positions until something changes or other opportunities require additional funds (unlikely at this point).

Happy investing,
Ben

Additional Comment: Ok, so it was premature to say Ukraine has gotten off the front page. Now seeing the 40 killed in the Donetsk airport clash. I'll clarify - Russian involvement has moved off the front page...for now

CTCM - A Textbook Contrarian Play

Here is my new article on a new portfolio holding - CTC Media

It was designated a 'Pro Article' so access to the general public will last 30 days.


http://seekingalpha.com/article/2198283-ctc-media-textbook-contrarian-play