Peter Lynch once said that sometimes the best stock to buy is the one you already have. That’s certainly what it looks like for me. Over the last few months, my portfolio along with the entire sectors I’ve been investing in have taken a beating. Nearly everything in it is really undervalued from my point of view, but there are a couple of truly amazing bargains I see in the bin of what I’ve already got:


Harris and Harris (TINY) is down to only 1.1 times its NAV. Wow. On top of this, the company, which has millions in the bank, recently sold some of its shares, even at their currently depressed prices. Understandably, some have found this to be a disturbing move. I, on the other hand, suspect that means they have found something they want to buy NOW. With the current business climate so inhospitable to IPOs, it may be a long time before Harris and Harris and its portfolio of nano-tech companies makes a move. When it does, though, I expect it will have been well worth the wait.


Shanda’s stock has taken a tumble since their last earnings report, in which they posted a 47% gain in revenue, and a 39% increase in operating profits. Earnings per diluted American depositary share (ADS) didn’t match those of last year, but this was entirely due to the fact that Shanda took a huge gain last year after selling its stake in SINA. How they could be expected to match that artificially bloated number is beyond me.


I’ve seen nothing but good news about Gigamedia (GIGM) over the last several months. Even if the US doesn’t change its online gaming rules and Gigamedia’s new Majiang game flops in China, their earnings should still be more than enough to justify the current stock price.

Honorable Mentions

Everything else in the portfolio. Seriously. I don’t have any money to buy anything more now, but the gears are sure turning.

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