Since June 10, 2009, AgFeed has been losing value. It's been more or less a straight shot to $1.00 from $7.96 a share. That's an 87.4% loss for anyone keeping score. So, imagine my surprise when this past Friday, it closed 82% above its May bottom.
My AgFeed position, when fully purchased, was 26.6% of my portfolio. The losses have been huge, and single-handedly responsible for my weaker 2010 and 2011 performances. Since January 1st, the Dow has risen 9.5%, yet my YTD returns are -4.3%. If AgFeed was only worth what it was on January 1st, I'd be up 3% YTD. So AgFeed's performance has lowered my whole portfolio's returns by 7.3%. However, I haven't sold it because I don't buy the valuation. At its bottom, its equity was worth $52 million. Bananas. So it looks like it could finally be turning, but I'm too scared to do what I want to do: sell everything I own and load up on AgFeed. This week, while I'm not actually working or in class, I'll be watching the market.
