New Stock - AIRV

I bought a new stock today: AIRV. I have been watching it for quite a while and I like the macro trend of mobile broadband, which is right up their alley. Then they trade around $6 a share and have over $3 a share in cash with no debt. Their accounting is a little squirrely, as using standard GAAP accounting their revenues are all over the place. They do meet my criteria of stong balance sheet and a reasonable expectation of increasing earnings.

		airv
+	Operating Income After Depreciation	29.93
-	Minority Interest - Income Account	-
=	Income for Calculation	29.93
	Market Cap Yahoo	365,880
	Share Price	5.88
+	Market Cap Calc	365.88
+	Preferred Capital	-
+	Debt in Current Liabilities	-
+	Long-Term Debt	-
	Cash and Short-Term Investments	198.39
-	Excess Cash	144.97
=	Enterprise Value	220.91
+	Property Plant and Equipment - Net	5.83
+	Receivables	13.11
+	Inventories	--
+	Other Current Assests	13.91
+	Working Cash	53.42
-	Accounts Payable	2.24
-	Current Liabilities - Other	78.20
=	Invested Capital	5.83
	Earnings Yield	14%
	ROIC	514%

I am now up 62% YTD in my portfolio as today I was once again up over 1%, and am not a mere 11% under breakeven... I have come a long way from the 60% hole I had at one time. I do want to move back towards pure MFI as I am more and more convinced the approach is working. I will likely pick stocks that come from my mechanical screen generally and will steadily remove the financial preferred stocks from my portfolio as new stocks come up on my screen.

The big news in my portfolio today was Fortescue shooting up 25% today (they were up over 15% the day before) and they are now up 160% for me. The big news is that they are rumored to being a takeover target for a Chinese company after the Chinese were left at the altar by BHP Billiton (Miners Have Field Day In Asia).

Finally, my purchase of PFE got a quick bump (Pfizer oral drug may shake up arthritis market). One thing we see on the MFI lists are certain sectors get concentrated. A while back it was contruction/engineering firms such as KBR, JEC, FLR, MDR and FWLT. You'd have done to buy into them, since hitting my top 25 list KBR is up 84% andFWLT is up 87%. MDR never made my top 25 list but is up over 200% from my top 50 list. Anyway, it seems like a lot of medical companies are on the list now: AHCI, AMED, BITI, ENDP, FRX, PFE, QCOR, SCMP, SRDX and VPHM.