I-O Data is now trading above net current assets so I decided to exit the position. The gain was about 85% in 20 months. I likely split the cash into new Japanese net-net positions.



Exited MultiClient Geophysical (MCG)

On the one year follow up of MCG I decided to exit the position. At the time of purchase MCG had a large cash position and was trading at around net-cash. During the last quarter the company invested much of the cash in data libraries, which I don’t have any strong opinions on. What is clear though is that the stock no longer has any good margin of safety and is no longer ¬†a net-net.

I exited at about the same price I entered. A slight profit (+6%) after FX and commission.