Month: January 2020

Taste the Feeling

Taste the Feeling is a Coca-Cola slogan from 2016. I think it’s a very good, because Coca-Cola isn’t just a product. It’s a religion. The fervour seen during the launch of New Coke, launched in 1985, as a response to Pepsi’s taste tests showing consumers preferred a sweeter alternative, showed that it wasn’t about the […]

Screening For My Next Long-Term Winner: Greggs

‘Run your winners’ is popular stock-market advice. Great companies often remain great investments for a lot longer than most people expect… … and can deliver life-changing rewards to anyone who refrains from selling out too soon. Where can we find potential winners to run? I thought the best performing shares of 2019 would provide a […]

Death in paradise

The demise of Thomas Cook impacted the whole package tour industry including London listed Online Travel Agent, On The Beach. Whether you trust the accounting regulations or On The Beach’s adjustments makes a big difference to the company’s profitability in 2019. Richard unravels the exceptional items. It’s January, The BBC is screening Death in Paradise, […]

Weekly Commentary: 20/01/20 – Culture in payments

Culture in Payments There were no spare seats when I arrived at Panmure Gordon’s offices last week for the Non-Standard Finance investor day titled “Culture driven Performance”. The presentation was riddled with keywords such as “Integrity”, “Clarity”, “Respect”, “Trust”, “Empathy” etc. I particularly liked John Van Kuffeler’s description of the loan correspondence he has from […]

Why mindset is the most important factor

“Nature versus nurture” has been a debate that has raged for hundreds of years. Sir Francis Galton (pictured above), who was a Victorian era statistician and psychologist (amongst investor, explorer, and other disciplines) coined the phrase in his book Hereditary Genius. He had been influenced by Charles Darwin’s Origin of the Species, and so in […]

Weekly Commentary: 13/01/20 – Culture

Culture Luck plays a part in investing but there is also a theory that you make your luck. Both K3Capital and Dart Group are cyclical businesses which performed strongly in the second half of last year. It could be that they got lucky with the cycle going in their favour or Thomas Cook going bust, […]

Out with the old, in with the new

Richard enters 2020 with a cleaned-up SharePad setup primed to help him find companies developing competitive advantages. He expects it to make him a better long-term investor too. Happy New Year! As a full time writer/investor the festive season is the only set time in the year when I fully shut down. Like an ancient […]

Weekly Commentary: 06/01/20 – The Roaring 20’s

The Roaring 20’s Nothing quite starts a new decade as reassuringly as Greggs Vegan Steak Bake causing late night queuing in Newcastle. With Pizza Hut’s vegan pepperoni pizza, Costa’s vegan ham and cheese toastie, KFC’s vegan chicken burger and M&S’ vegan chicken Kiev and Macdonald’s veggie dippers this could be a good decade to be […]