An interesting microcap: Magic Software (MGIC)
Two of my favourite contrarians are the Canadian duo at Contra-the-heard , Benj Gallander and Ben Stadlemann. They publish a newsletter and although I have never subscribed to their letter, I encounter their opinions either through articles they write for The Globe & Mail or on television at Business News Network (this is Canada's business cable channel.) They got killed last year but they seem to have a good long-term record. They generally only invest in microcaps and small-caps, with many of them penny stocks trading for less than $0.50, so I don't really follow through on their ideas very much. They also invest in distressed companies and I don't see the merit in some of their picks. These guys are like me :) and invest in very high risk stuff so be careful with their picks. Anyway, one of their picks, Magic Software (MGIC), that I was interested in, but never looked at because it wasn't cheap, hit price levels that made it attractive. But that was 3 or 4 month...