Position opened: First purchase on July 04 2006, total average cost of $0.770 CAD

Position closed: Acquired in Q1 2007, total average proceeds of $1.10 CAD

Hold period: 0.69 years

Rates of return: 43% (simple) and 67.3% (annualized)

I think I included this company for the simple fact that I could not pass up on the name. I remember seeing the name, and thinking “what do they do ?”. As it turned out, the name did provide some hints – they were primarily involved in the sporting goods sector, in particular the segments of skiing and hockey. The market must have thought them to be particularly boring, as at the time of purchase, they were trading on a net-net basis, the company was earnings positive, cash flow positive, and was paying a dividend. As with many such situations, someone else noticed as well, and the company was acquired in early 2007.

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