Overstock had an amazing quarter as Patrick Byrne's predictions of their turnaround have begun to come to fruition, here are my notes and comments on their conference call.

In the month since my last portoflio update, my portfolio is up 8%, most of this coming from Overstock's > 40% gain and K-Swiss' 11% gain. This article looks at each stock and if I should buy more.

Overstock.com is a tech company that doesn't appear to have a moat, this article disputes that

Overstock is a classic Mohinsh Pabrai investment, the company is low risk - is has great relationships with partners and a big moat keeping its customers and is well on the way to achieving profitabili

I went over how I found each of the companies I currently own to show how easy it is to find potnetial companies to own.

I reviewed my portolio and went over why I own my current positions and why I sold positions recently.

Posted about two and a half weeks ago, but the thesis remains true. The three companies, K-Swiss, Sears Holding and Overstock.com are all illogiclly being pushed down well below liquidation value for Sears, below 1/3 of sales for Overstock and almost to 5x fcf for K-Swiss.

I review my portoflio and briefly look over some new ideas

I currently have 4 'long-term' holds, one special situations and 30% cash. I discuss my holdings and five potential stocks I could buy soon.

This week's festival includes six posts discussing specific stocks, three posts on topics in investing, and a poem. Yes, you read that right. This week's festival concludes with a poem. It's the proverbial cherry on top of this satisfying stock sundae. Stocks mentioned include: Legg Mason (LM), Overstock.com (OSTK), Western Union (WU), Whole Foods (WFMI), Walter Industries (WLT), and Mueller Water Products (MWA).

After Monday's announcement of a year-over-year revenue decline for the third quarter of 2006, I've changed my tune on Overstock (OSTK). On January 17th, 2006, I argued Overstock was worth at least $1.5 billion. After the company reported a year-over-year decline in revenues for the third quarter of 2006, I realized I didn't understand the business. As a result, I had lost all confidence in my earlier analysis.

Mike takes a long look at online closeout retailer Overstock.com (OSTK). At a price-to-sales ratio of approximately 0.5, he likes what he sees. For the most part, Mike eschews the Byrne controversy, choosing instead to focus on the risks and catalysts associated with owning shares of OSTK.