Monthly Archives: February 2018

The epic hedge I never made

The epic hedge I never made

I thought I’d share this interesting little hedge that I’d considered a few weeks ago but never made (unfortunately). A trader friend of mine mentioned in December that I take a look at the CBOE Volatility Index (VIX) if I wanted to hedge my portfolio. He was right. Here’s how it played out.read more

Topped up United Carpets ($UCG.L)

Topped up United Carpets ($UCG.L)

I first wrote about United Carpets just over a year ago, when I noted that the company was trading at an enterprise value of £6.8m despite making £1.2m in net profits. Since then the share price has fallen even further and the EV is now £5.3m. I took another look at the company and saw that the investment thesis has not changed. It’s last half year report showed increased like for like sales, stable profits and an outlook that was positive up to December 2017 but cautious of the general environment.

I decided to take a longer look at the company’s history before deciding whether to add to the position. I started the position small at around 2% due to being uncertain about how 2017 would play out, so with an extra year of data, it was time to decide whether to make it a full size position.read more


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