The Special Situations Real Money Portfolio hits a rough patch in April. Thankfully, some profits were made on the recent Sybase tender offer.

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.

Another update of the Special Situations Real Money Portfolio, my experiment in arbitrage investing. This month I talk about a profitless tender offer and the decline in price of three positions that have been held for several months.