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2012 Year end review

posted Dec 12, 2012, 8:58 AM by Peter Petersen   [ updated Dec 16, 2012, 2:23 PM by Katrina Petersen ] successfully completed its first project in Winterport ME in 2012 with the closing of of the sale of the property to a private party in September.

Our second project was started in November with the aquisition of another property in Winterport. Rehab work has started and will continue into 2013. For now we will concentrate our efforts in Real Estate in the Bangor - Belfast corridor.
People's United is our partner in our Real Estate projects.

Our Equity income selection - KCAP - has provided a steady income stream of >11% pa and also gave us some capital appreciation We are constantly adding to this position. KCAP specializes in mezzanine financing for small businesses.

Our speculative Equity income selection - CIM - has also provided  an income stream of >13% pa but has been involved in a major restatement of financial activities keeping its value closely to book. We are holding but not adding to this position. CIM is a REIT that specializes in non-agency mortgage paper.

Our speculative and short term trading Equity - ALU - has provided many trading opportunities since its precarious financial condition make it an event driven stock. We're maintaining a core holding since it has survived against all odds in a very turbulent market environment. Its management has finally started to address its excess head count issue and is also preparing to monetize the huge patent portfolio of the Lucent part of the company. Until the market recognizes these efforts and until ALU can present a healthy balance sheet again it will remain a highly speculative issues that will and should only attract capital that chases short term gains and losses. ALU the combination of Alcatel and Lucent is one of 3 remaining companies that support the internet back bone globally with routers, switches, relays etc. for copper, fiber, optical and wirelessly driven applications. and its principals is invested in all securities featured on this site and does not receive any incentives from other entities for its selections. We have closed down our computer service operations in order to concentrate on our Capital Management, Real Estate and Web Site Development opportunities.

We are looking forward to a big increase in our activities in 2013.