Month: February 2018

Stock Watch: Galliford Try

Shares in building and construction company Galliford Try have been hammered since it announced its half year results a couple of weeks ago. The results themselves were pretty good but the shares have crashed due to other reasons, namely: Cost overruns in its construction business. A cut in the dividend – albeit a small one. […]

How to read an annual report

Rule number one in long-term investing is to understand how the businesses you expect to profit from will make money – otherwise, how can you be confident they will? Annual reports are the most complete source of public information on how businesses make money, and how they intend to make more money. Investors who read […]

A smarter way to use analysts’ EPS forecasts

Should investors pay much attention to analysts’ profit forecasts? There is a school of thought that suggests that they should not. Detractors say that forecasts are nothing more than educated guesswork and that analysts are very bad at predicting changes such as profit warnings or recessions. In many cases, forecasts are merely the extrapolation of […]

Stock Watch: City Pub Group

(LSE:CPC 196p, Mkt Cap £96.3m, EMS 1500, Analysts 2) City Pub Group listed on AIM back in November. The company currently owns 38 managed pubs situated in London and the south of England. Twenty three of these pubs are freeholds (owned outright by the company) with 15 leased or rented. Thirty three pubs are currently […]

The Terry Smith algorithm

In this article I’ve attempted to find Fundsmith-like companies using SharePad. The results are mixed but there’s a lot to be learned from the experiment. A letter from Terry If like me you hold units in Fundsmith, last month you will have received a letter from the fund’s celebrated manager Terry Smith. In publishing an […]

A checklist for busy investors

There are many full time private investors out there but for others investing is a hobby or something that they fit around their day to day activities. If you don’t have a lot of time on your hands one of the toughest tasks you will have is narrowing down the list of potential investments on […]