Poetic Portfolios

Watching financial stocks decline over the past several months has reminded me of the risks of investing in stocks. When the market is rising, it is really easy for me to think that I’m a successful investor. Everyone feels like a financial genius when the market is doing well. (more…)

I was pretty happy to find Icarra. I like the way that the site displays information. I have been very hopeful that I could rely on them for performance data. The site is a work in progress, but I went with it anyway. It looks like their website crashed recently, losing all the transactions in Two Roads from July of 2005 to present. I have to re-enter this data manually, so it may be a bit before Two Roads is up to date again regarding it’s performance.

I first purchased OYO Geospace for Two Roads Diverged in December of 2006. After further research, I decided that I wanted OYO to be one of my top holdings. This decision has rewarded me well. In this analysis, I will summarize Oyo’s different lines of business, examine their earnings history, and try to determine a range of values for their shares. (more…)

The following post on Yamana Gold (NYSE: AUY) was originally posted October 28, 2007 at odysseyroad.com.

It seems that of all my holdings, Yamana Gold (NYSE:AUY) is the most difficult to track. Now that the three-way merger between them, Northern Orion, and Meridian Gold is a lock, it is time to see what the combined company will look like. (more…)

The following post on Yamana Gold (NYSE: AUY) was originally posted September 5, 2007 at odysseyroad.com.

I haven’t seen any urgency in rushing to provide an update on Yamana’s most recent quarter largely due to the three-way buyout currently under consideration. The buyout has clouded the situation for Yamana yet again, depressing shares despite the price of gold moving to $700 per ounce. (more…)

The following post on Yamana Gold (NYSE: AUY) was originally posted June 20, 2007 at odysseyroad.com.

Yamana can be a good investment for a diversified portfolio as a hedge against inflation and currency risk at current prices. It has been a good investment since I purchased shares in October 2006. I research each individual stock investment that I make and try to determine a value for the company. Below is the research that I have compiled for Yamana Gold. (more…)

One thing that I should point out regarding my holdings, and this will be true of the other portfolios I introduce as well, is that I tend to focus on smaller companies for my individual stock holdings. There are a few reasons for this.

1. I can gain exposure to large companies more easily through mutual funds.
2. Smaller companies are often easier to understand.
3. It’s easier to gain an advantage in smaller companies. (more…)

Dawson Geophysical (NASD: DWSN) has been pleasantly surprising all year. Their fourth quarter was no different. If you look at each quarter in succession, it is quickly obvious that each quarter was amazing. When I glanced at Dawson’s fourth quarter earnings, I assumed that they achieved their results due to the deployment of their 15th crew. However, this crew was not deployed until early September, giving them only three weeks worth of revenue!

No, Dawson achieved their record earnings from the labor of their 14 crews that were up and running. The market wasn’t so enthused about Dawson’s results. I think this is because they have been reluctant to start discussing crew number 16. (more…)

The following post on Dawson Geophysical (NASD: DWSN) was originally posted August 27, 2007 at odysseyroad.com.

I need to be better about circling back and updating my valuations on companies after earnings. Dawson comes first because it seems like every quarter they re-write what’s possible. First the numbers as compared to their fiscal second quarter numbers. (more…)

The following post on Dawson Geophysical (NASD: DWSN) was originally posted May 25, 2007 at odysseyroad.com.

About the Company

Dawson provides onshore seismic data acquisition services in the United States. The company acquires this data for oil and natural gas companies. Essentially, their business is people using equipment to collect information. The equipment needs are important because much of the cash flow generated by the company is used to purchase better technology, which in turn can collect more data. The company refers to this as increasing channel count. People are also important to Dawson because their ability to train new crews can impact their growth. (more…)