Half year performance report H2 2015

Half year performance report H2 2015

It’s that time of year again, doesn’t time fly. I haven’t made many trades during the second half of the year, perhaps that is why it has been a good half year for my portfolio! It returned 7.5% in H2 2015 versus -3.4% for the FTSE All share tracker and -1.0% for the S&P tracker. Performance was driven mainly by my 34% holding in Craven House Capital (LSE:CRV), which was 16% up in the half year on good news that it has signed a deal to raise £30m in equity at a price of 1.25p per share. That is significant for a £6m market cap company. Excluding CRV my portfolio was up 3.6%, so still outerperformed.read more

Logicamms Ltd ($LCM.ASX)

Logicamms Ltd ($LCM.ASX)

Logicamms is a company that provides consulting and engineering services to the mining, construction and oil & gas sectors in Australia. As you may expect, the market is very pessimistic about its prospects given the collapse in oil prices and the bear market now apparent in commodities. When I first looked at Logicamms I didn’t feel I could properly judge the level of profitability it could sustain going forward, but now there is a further year of accounts to peruse and also management have guided on 2016 performance. In short it expects to make $4m in the first half of the year, and claims its pipeline of work is stronger for H2 2016 than it was for H2 2015. Even if the company makes no profit for the rest of the year, it is trading at a P/E excluding cash of just 9 at this low point in the earnings cycle.read more

Portfolio Changes

Portfolio Changes

A lot has been happening in the markets over the last couple of months but unfortunately I haven’t found much to take advantage of. Partly I have been too busy to look for investments but also most of the carnage seems to be hitting oil companies and mining, neither of which I think are particularly attractive on aggregate at the moment. I have made some changes to my portfolio in the last week however, but these are not a reaction to macro events these are specific adjustments I have made.read more

Softbank Corp (TKS:9984)

Softbank Corp (TKS:9984)

I mentioned in my portfolio half year review that I had taken a new position in Softbank and here is the full thesis. Softbank (TKS:9984) (ASE:SFT) is a Japanese telecoms company and is one of the largest in the world. Investors may know the company because of its 36.3% holding in Alibaba (NYSE:BABA) and 80% ownership of US telecoms company Sprint. The investment thesis for Softbank is relatively straight-forward. It currently owns a stake in Alibaba worth ¥9.6tn, yet its market cap is only ¥8.8tn. In addition to the Alibaba stake however, you get an 80% stake in Sprint, a 43% stake in Yahoo Japan, and operating businesses with net income of ¥720m per year.read more

Half year portfolio review

Half year portfolio review

Time sure flies, it’s time again for a half year review. I don’t put much weight on my half year results but it’s useful to keep track of what is going on. In many ways H1 2015 was a pretty dire 6 months for my portfolio, yet I managed a respectable 8.8% return compared to 4.5% for the FTSE All share tracker and 0.2% for the S&P 500 tracker.read more

Kobex Capital Corp (TSV:KXM)

Kobex Capital Corp (TSV:KXM)

Kobex Capital has net cash of $28m, a book value of $34m, yet a market cap of just $21m. The upside is obvious, but I have some reservations about whether these shares are worth an investment or not. For investors that like a wide range of net-nets this could be a decent addition to the portfolio though.read more

10 Best Investing Blogs

10 Best Investing Blogs

I try to provide a lot of quality in depth analysis on this blog on individual stocks and also the stock market as a whole. But there are thousands of stocks out there and the macro environment is incredibly complex, so we all need to read a very wide range of sources to become better investors. Here are the 10 best investing blogs that I actively follow. Some are focused on uncovering individual stocks, others are more focused on macro events or investing education. Together they are a must read in my opinion.read more

Stock Reports now launched

Stock Reports now launched

In my previous post I requested beta testers for a new stock analysis spreadsheet and I’m pleased to announce that the testing has now finished and the final product is available.

The spreadsheet allows you to create a custom stock report, here is an example of what you can create with it. This report will update for any US stock you choose.read more

Looking for beta testers

Looking for beta testers

For the last couple of years I have been trying to set up a new way for investors to quickly and easily analyze stocks. I know of a lot of online platforms that provide information like summary financial statements already, but none have the level of customization that I think is necessary for an investor. I wanted to set up a completely customizable spreadsheet that an investor could personalise to analyze stocks however they want to, and that would populate with reliable data on any stock at the click of a button. Moreover I wanted to provide this analytical tool cheaper than you can get elsewhere on the web. I have now almost realized this vision, and I have what I believe is an invaluable analysis tool, the only thing left now is to see if other people agree, and to test it out for real. That is where I need the help of my readers.

I need volunteers to use this spreadsheet to analyze stocks and give me their feedback on it. There is nothing in particular I will require from you, simply use it as you see fit and give me any comments you have. This is what I have to offer to any would be testers…read more

A brief tale of 1937

A brief tale of 1937

The western world is finally ‘recovering’ from the greatest recession since the 1930s. Many parallels have been drawn with the 1929 crash over the last few years, including politicians citing ‘lessons learnt’ from how lawmakers reacted in the 1930s and why this time, it’s different. We are now 6 years since the bottom of the stock market crash in 2009, and an unprecedented amount of money has been added to the economy, with little overall impact on inflation. I usually don’t focus too much on the macro when it comes to investing, but I find a brief look back to 1937 tells an interesting tale and may give us a clue as to what the future holds.read more


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