Bruce looks at an old equity research note from 1993 and ponders if in some sectors customers receive a better deal than shareholders. Companies covered BARC, HL., LOK, ARC The FTSE 100 fell -0.6% last week to 7,683. The Nasdaq100 and S&P500 were up +0.5% and +1.7% respectively. The excitement was provided by Nvidia results, […]
This week, Jamie discusses a solution to using return on capital employed when the capital employed part of the equation is missing. He does so through the lens of ARM Holdings, which became the third-largest UK company by market capitalisation last week. You have to feel somewhat for whoever compiled and proofread the trading update […]
Richard Beddard goes through the adjustments RWS made to turn a reported £6.9 million loss into an adjusted £123.8 million profit. He thinks there are generalisations we can apply to many adjustments that make it easier to form a view on their profit. Oh my word. Translator RWS’ accounts for the year to September 2023 […]
This week, Jamie talks about two types of equity investment those which should be held with the intention of an indefinite horizon and those that are expected to be sold. He then compares three companies, two of which he thinks should be long term holds and the other one only to be traded. The commentary […]
Phil takes a look at a strategy of identifying unloved shares as a way of generating market beating returns. In my last couple of articles, I’ve discussed some of the issues that investors face when looking at good companies. One of the biggest difficulties faced is that the shares of such companies can be highly […]
Jamie Ward takes over this week’s Weekly Market Commentary. Companies covered: SDY & SDRY. After a prolonged period of unpredictable economic data, most of the big releases last week were either in line with expectations or slightly better. Most of it wasn’t good in an absolute sense but taken as a snapshot, last week’s figures […]
Bruce remembers a metaphor from the founder of the Georgian Stock Exchange and wonders how it might apply to Chinese financial markets. Companies covered: FEVR, ELCO, FNX, BOKU. The FTSE 100 was up +2.2% to 7653 last week. The Nasdaq100 and S&P500 rose +2.4% and 1.1%. Brent Crude was up +4% in the last 5 […]
Fashion website Sosandar plans to open shops to bolster its sales and margins. Maynard Paton weighs up management’s bold financial ambition against the wider sector’s haphazard progress. Fashion website Sosandar provides a fascinating dilemma for small-cap growth investors. Bulls will highlight the online retailer’s very rapid expansion and bold ambition to raise profits to £10 […]
While active fund managers are seeing redemptions, platforms like AJB and IHP have been reporting healthy quarterly inflows. Other stocks covered DPP, NXQ, CRPR. The FTSE 100 fell -1.7% last week to 7,466. The Nasdaq100 and S&P500 rose +2.9% and 1.25% respectively. US markets are enjoying a reasonably strong start to the year, and are […]
Terry Smith has published his annual performance update letter, plus a look at companies in the listed active fund manager sector. Companies covered JUP, ASHM, IPX, POLR, PMI. The FTSE 100 fell -1% to 7613 last week. The Nasdaq100 was up +3.2% and the S&P was up +1.8% in the last five trading days. […]
Bruce looks at why the inverted yield curve seems to have sent a false signal about a recession. Companies covered: JD. and CMCX. The FTSE 100 fell -0.9% to 7,658 last week. The Nasdaq100 was down -3.5% and the S&P500 was down -1.8%. The FTSE China 50 was the worst performing index, down -4.7% […]
Bruce reviews 2023 performance and the outlook for this year. Plus a detailed write-up of aircraft leasing business AVAP. Last year the Nasdaq 100 was the best-performing major index, up +54%, followed by Japan’s Nikkei. Not something that many people would have predicted. The S&P500 also did well +24% last year, followed by the […]
This week, Jamie Ward briefly talks about the latest update from Dewhurst. He then demonstrates that markets are frequently not efficient by reviewing the performance of a couple of the COVID winners to see if it can inform future investment decisions. Finally, he shows how to use Sharepad to screen for businesses that attempt to […]
Keystone Law is top of Richard’s research list because it is unlike any other listed law firm. Not only has it performed better than the others, it has a different way of doing business. But how special is it? One of the many things that hinder my understanding of companies is a direct result of […]
With Central Banks turning dovish, Bruce looks for the 16 / 64 day moving average crossover to call the turn to a more bullish market in 2024. Stocks covered investment platforms AJB, HL. plus defence stocks CHRT and MSI. The FTSE 100 rose +1% to 7617 last week. Meanwhile, the Nasdaq100 and S&P500 were up […]
Bruce looks at the prospects for Commercial Real Estate (CRE) and wonders if this will become a source of market instability in 2024. Companies covered CML, SOLI, and SDI. The FTSE 100 was flat last week, hovering around the 7,500 mark. In the US, the Nasdaq100 and S&P500 were both up less than half a […]
Bruce ponders why some companies that operate in the same sector enjoy such radically different fortunes. Companies covered MPE, LTHM, and MIND. The FTSE 100 rose +0.6% to 7,506 last week. The Nasdaq100 was flat, while the S&P500 rose +0.8%. The price of gold rose +2% to $2,035, which seems to have been driven by […]
This week, Jamie Ward talks about why missing out on some great investments might not be a bad thing, especially when thinking of the wider context where you may have invested in something better. He believes that having a process is far more important than whether you did or did not buy a security and […]
This week, Jamie Ward returns to talk about how passive investing is logical but isn’t really investing. He also posits that passive investment cannot exist without active investment but the reverse is not true. Companies covered: DCC, OCN. US inflation data set the tone for markets last week. The previous readings for US core and […]
Judges Scientific has delivered mega-bagger returns for its very early shareholders. Maynard Paton studies the growth and success of the ‘buy and build’ operator. Today’s rough market for small-cap shares could be the exact time to hunt for your next great portfolio winner. Take Judges Scientific, the £540 million group of scientific instrument manufacturers, which […]
Profit warnings are part and parcel of the experience of owning shares. They are not pleasant but they often contain valuable lessons which can benefit investors in the future. Sometimes they can just reflect a temporary blip. But they can also be a reason to question the sustainability of a company’s strategy and business model. […]
While away on an Australian retreat, Bruce asked ex-fund manager and private investor Jamie Ward to manage his weekly commentary for the upcoming weeks. Jamie takes a look into Diego DGE, Beazley BEZ and The Works WRKS. Markets had a poor end to an otherwise rather uneventful week. This resulted in equity markets being down […]
With two more bids coming in for small-cap stocks, Bruce looks at the average premiums being offered by buyers. Companies covered: AML, ULTP and HEIQ. The FTSE 100 was up +1.3% to 7,426 last week. Meanwhile, there was a very strong rally in the US markets with Nasdaq100 +6.4% and the S&P500 up +5.9%. […]
As two more bids come in for small-cap listed companies, and another Private Equity IPO disappoints, Bruce looks at the trends that are shrinking public stock markets. Companies covered: CABP, OMG, IPF. The FTSE 100 was down -1.5% to 7,291 last week. The Nasdaq100 was down -2.6% and the S&P500 was down -2.5%. US […]
Bruce looks at UK fund manager outflows, both at an industry level and manager-specific level. Companies covered: STJ, HL., BPM, LIO, TMG. The FTSE 100 was down -3.2% last week to 7,384. Nasdaq100 and S&P500 were also both down -2.9% and -2.4% respectively, with the FTSE China 50 off even more steeply at -4.7% over […]
Bruce looks at what we can learn from Oscar Wilde and a half-bearded psychology professor on flawed narratives that capture people’s imagination. Companies covered: IPX, SDG, YOU, OXIG and MRK. The FTSE 100 was up +1.35% to 7,596. Nasdaq100 and S&P500 were both up less than +0.5% in the last five days. In Japan, […]
Attempts to widen direct equity ownership in the UK stock market are gathering pace, even as the high dividend yields on fund managers are signalling problems with that business model. Stocks covered BOO, PEEL, MTRO. The FTSE 100 was up +0.3% to 7,536 last week. The Nasdaq100 rose +1.8% and the S&P500 was up +0.5%. […]
Visiting an old friend in today’s fast-evolving tech landscape, few sectors remain as untouched by innovation as the world of transportation. At the helm of this transformation, one finds Journeo PLC (AIM: JNEO), a trailblazer in information systems and services explicitly curated for transport and local governments. The company’s recent accomplishment — a £2m purchase […]
Bruce uses Sharepad to look at recent movements in the US long bond yields USTSY10 and the bondholder total return TLT ETF. Companies covered, PZC, YU, SCE and GTC. The FTSE 100 fell -1.8% in the last 5 trading days to 7613. The Nasdaq100 and S&P500 were flat and down -0.75% respectively. The FTSE […]
Shares in SDI have plummeted. Richard examines the price differential between the company, a manufacturer of scientific equipment, and Judges Scientific, a firm it is often compared to. In the last two weeks, my 5 strikes system* has only surfaced two new investment ideas: SDI and Goodwin. These businesses have good financial track records, but […]
Bruce suggests that government bonds and mortgages have been beneficiaries of Basel banking regulations over the last few decades. The effects of rising interest rates won’t be limited to the UK housing market. Companies covered HL., CODE and 4BB. The FTSE 100 was down -0.3% to 7,630 over the last five trading days. The Nasdaq […]
Many great companies still can’t resist ‘diworsifiying’ in the quest for growth. Maynard Paton studies IT specialist NCC and its costly folly beyond software escrow. “Instead of buying back shares or raising dividends, profitable companies often prefer to blow the money on foolish acquisitions. The dedicated diworsifier seeks out merchandise that is (1) overpriced, […]
Bruce suggests that rather than ARM’s successful IPO, the likely catalyst for more companies coming to market will be retail flows into funds. Companies covered ELIX, FEVR and FDEV. The FTSE 100 was up +2.6% last week to 7,688 helped by mining stocks and financials. The Nasdaq100 and S&P500 were both down less than -0.5%. […]
Richard picks holes in the financial histories of four companies and finds little to trouble him. Remarkably Cake Box, a company that published an annual report riddled with errors two years ago, is one of them. As fishing expeditions go, my daily trips in the last two weeks have been particularly unfruitful. Few companies have […]
Bruce reviews a recent book Chaos Kings, on investors who benefit from financial crises and volatility. Companies covered BUR, STVG, WINK and CVSG. The FTSE 100 was up 0.5% to 7,494 last week and was the best-performing major indices other than the Mumbai S&P BSE +2.1% over that time period. Nasdaq100 and S&P were down […]
Aerospace and Defence Giant Rolls-Royce Bounces Back with Impressive Interim Performance. This is excellent news for investors and me too, as I did suggest better times ahead for the renowned aerospace and defence company when I featured it for Sharescope back in January 2022. The share price was in a tailspin for a while, dropping […]
Bunzl shares have proven to be a very solid long-term investment but the last few years have not been very rewarding for investors. Phil takes a look at the company to see if shareholders can expect better days ahead. Source: Bunzl Stuck in a rut Bunzl is a very well-run business that has served investors […]
If the price of trophy assets like football clubs are wildly above intrinsic value, perhaps there’s a way for less wealthy investors to benefit from the same theme? Companies covered SDRY, BNZL and PBEE. The FTSE 100 was up +2.4% at 7,511 last week. The index is exactly flat on 5 years, though what 5 […]
Richard reveals the latest batch of shares to go through his 5 strikes system. Topping the list is Kainos, a pandemic winner that probably has what it takes to prosper over the long term. Here are the latest candidates for long-term investing according to my 5 Strikes system: Name AR date Strikes Score Kainos 21/7/23 […]
Bruce looks at UK retail equity fund flows, and their implications for future expected returns. Companies covered CMCX, EYE, TRCS. The FTSE 100 rose +1% to close at 7,338 over the bank holiday weekend. The Nasdaq100 was up +1.7%, while the FTSE China 50 was up very strongly +5.1% as their Ministry of Finance cut […]
Bruce suggests that the nature of cross border capital flows might present an opportunity in front of our eyes, in FTSE and AIM stocks. Companies covered LGEN, JUST and TRMR. Last week I suggested that with the VIX below 16, some complacency might be creeping back into markets. Right on cue, the FTSE 100 fell […]
Richard looks beyond how Christie Group PLC makes money, to how it is going to make more. He examines the challenges it faces and how it plans to overcome them, aka strategy. My enthusiasm for Christie has diminished in the two weeks since I introduced it to you (see 29 top scorers, and Christie bottled). […]
The VIX index is currently below 16, signalling some complacency may be creeping back into markets, so Bruce looks at the deterioration in near term liquidity measures. Stocks covered: SDI, D4T4 and JIM. The FTSE 100 was down -0.6% to 7,509, while the Nasdaq100 fell -1.6% and the S&P500 was down -0.3%. The price […]
Diageo has many attractive characteristics as a business but its shares have delivered steady rather than exceptional returns to investors. Phil has a look at the company to see if it might reward investors better in the future than it has in the past. For many long-term investors, Diageo is a company that ticks a […]
Bruce uses Sharepad to look at H1 mortgage approvals data going back to the mid-1990s, and house prices back to the 1950s. Companies covered: GRG, TW. and DEVO. All three of the FTSE 100, S&P500 and FTSE China50 were down -2.2% in the last 5 days. The Nasdaq100 was even worse down -3%. The US […]
Bruce makes some broad observations about how economists’ models drive Central Bank behaviour and interest rate expectations. Companies covered: LLOY, TSTL, RBGP The FTSE 100 was flat in the last five days at 7,688. Nasdaq100 was up +2% and the S&P500 was +0.75%. The FTSE China 50 Index was up +3.9% as the renminbi rose […]
Phil asks whether AG Barr’s recent acquisitions can turn it into a growing business again. Soft drinks companies are a long-term favourite with investors. Their products are affordable, small and regular consumer purchases which can produce a nice blend of steady growth and resilience which can make them all-weather investments. The giants of the industry […]
With inflation peaking in the UK (at least for now), Bruce looks at some larger cap stocks that have broken through their 200-day moving averages on the upside. Companies covered: ONT, DARK, HL., AJB The FTSE 100 enjoyed a strong week up 3.4% to 7,658 as last week the UK’s inflation data was better than […]
Bruce looks at the prospects for the UK Buy-to-Let market in the BoE’s Financial Stability Review, and wonders if rising interest rates are driving higher rents, which could be causing an inflationary feedback loop. Companies covered SHOE, MEGP and ZOO. The FTSE 100 enjoyed a positive week up +1.9% to 7,415, while the Nasdaq100 was […]
Devoted company bosses do not always create great returns for outside shareholders. Maynard Paton studies chocolate retailer Hotel Chocolat and the board’s decisions and composition. I love ‘owner managers’ — company bosses with significant shareholdings who live and breathe their business and want to build wealth for the long haul. Typically, entrepreneurs, and owner-managers who […]
Recent attempts to turn Hornby into a consistently profitable and growing business have failed. Phil looks to see if last week’s purchase of a minority stake in Warlord Games provides the catalyst for a profit revival and a higher share price. Hornby is in a mess Whatever way you look at Hornby the company is […]
While the dividend yield on the FTSE and AIM indices is not high relative to history, it does seem remarkable that >8% yields are available on companies in so many different sectors. Stocks covered KOO, SUP and SMV. The FTSE 100 fell -3.5% in the last 5 days, with the Nasdaq 100 up +0.7% and […]
Bruce looks at the idea of tail risk hedging but thinks that the strategy might be too difficult for private investors to implement. Instead, companies significant cash could be an interesting theme for H2. Companies covered WISE, TBLD and DPP. The FTSE 100 rose +1.4% last week to 7556, while the Nasdaq10 and S&P 500 […]
Phil looks at the issue of management in light of the turmoil and changes at JD Sports and asks whether the shares are too cheap despite a tough economic outlook. Business Overview JD Sports is one of the leading retailers of sports fashion wear. It has built on its UK roots to become a global […]
Bruce suggests that unemployment, rather than interest rates, will be the driver of banks’ bad debts. Companies covered MANO, and profit warnings from SOM and HOTC, plus Teddy Sagi’s bid for BOTB. After an entertaining weekend in Russia, one observation from a military friend who was in the Donbass, now in Libya, is that a […]
Bruce looks at recent trends in the IPO market and questions whether attracting new listings at any price really is good news for investors in London’s equity capital markets. Companies covered W7L, FDEV and VNET. The FTSE 100 was up +0.5% to 7,618 over the last 5 days. The Nasdaq100 and S&P500 were up +3.8% […]
Buying shares when they are unpopular can be a profitable investing strategy. Phil takes a look at one of the UK’s leading brickmakers, Forterra, to see if now could be a good time to buy its shares. A good business underpinned by strong long-term demand for new homes The long-term bull case for buying shares […]
Bruce looks at the divergent performance of the Nasdaq100 +22% since its October lows, versus AIM which is flat over the same time period. Companies covered OMG, GHH, OCN and ADB. The FTSE 100 fell -0.3% to 7,573 last week. The Nasdaq100 and S&P500 were both flat over the last 5 trading days. A week […]
Screening for consistently high margins and ROE leads to property franchisor Belvoir. Maynard Paton weighs up the small-cap’s acquisitive history, super cash flow, visible management and immediate prospects. Today I have revisited a SharePad screen that applies two ratios favoured by ‘quality’ investors — operating margin and return on equity (ROE). The exact criteria I […]
Bruce looks at 3 companies on low teens PERs that reported last week: BOWL, BMY and DOCS. But he wonders if copper is suggesting negative macroeconomic news that is not yet priced in. The FTSE 100 was flat at 7646 last week. In the last 5 days, the Nasdaq100 was very strong, up +4.4% and […]
A business that aims to save its customers money should be doing well during a cost of living crisis. Phil looks at Moneysupermarket.com and asks if the recent rally in its shares has further to go. The business Moneysupermarket (MSM) is the UK’s largest price comparison website. It aims to save people money on household […]
Bruce looks at trends in core inflation, plus observes first-hand that the UK economy has been stronger than many predicted. Companies covered AJB, ETP and HEAD. The FTSE 100 was down -1.7% in the last 5 days to 7,627. The Nasdaq100 was up +2.5% and the S&P 500 was flat. The price of gold was […]
FDM is the top-scoring company in Richard’s watchlist. Still doggedly trying to find things wrong with the business, he examines what has made it so successful, and what, if anything, could stop it in its tracks. The presence of FDM at the top of my first tranche of Five Stocks and You’re Out Shares, has […]
Bruce uses Sharepad to graph UK house prices and mortgage approvals data back to the 1980s. Companies covered BLV, SHOE and OTB. The FTSE 100 was flat in the last 5 days, at 7,774. The Nasdaq100 was up strongly +3.4%, as was the KBW US regional banks index (KRE) up +7.7% while the S&P500 was […]
Bruce uses Sharepad to analyse the performance of MANU shares, listed on the NYSE. The football team presents some interesting challenges for valuing debt-funded intangible assets. Plus SDI’s profit warning, and CGEO’s Q1 results. The Bank of England raised interest rates to 4.5% last week, as the FTSE 100 rose +0.7% to 7,754. Since last […]
Newspaper publisher Reach trades on a P/E of 3. Maynard Paton believes the rock-bottom rating reflects a pension scheme ‘black hole’. Let me start by confessing this article covers pension deficits. What follows is therefore not thrilling and does require some concentration. But please stick with me, especially if you have ever fallen victim to […]
Bruce looks at Prof Altman’s credit analysis, going back 4 decades, suggesting US corporate default rates might rise above average, so understanding Sharepad’s Altman Z score could prove valuable. Stocks covered HEIQ, SDRY, LLOY, HL. and KITW. The FTSE 100 fell -1.2% to 7,737 in the last 5 days. The S&P 500 and Nasdaq100 were […]
Phil Oakley takes a look SSE (formerly known as Scottish & Southern Energy), which despite its history of unsustainable growth highlighting the dangers of investing solely on the basis of dividend yield may still be undervalued given long-term potential of its renewable energy portfolio. The dangers of investing for high dividend yields For years SSE […]
UK banks BARC and NWG reported Q1 results, with contrasting trends in customer deposits. Also covered: bid approaches for MGP, NUM and SMV, plus a look at AOM. Last week the FTSE 100 was down -1.3% to 7,812. The Nasdaq100 was up +1.3% while the S&P 500 was broadly flat in the last 5 days. […]
Bruce looks at the influence double-digit inflation is having on bank deposits. Companies covered MONY, KMK and THRU. The FTSE 100 was up +0.4% to 7,907 over the last 5 days, while the Nasdaq 100 fell -0.6% and the S&P500 was flat. The Natural Gas contract (NG-MT) was up +31% in the last 5 days […]
Watches of Switzerland shares have been stellar performers since listing on the London market nearly four years ago. However, since peaking at over £15 at the end of 2021, they have more than halved in value. This is despite profits continuing to grow and forecast guidance being maintained. The sales of luxury watches boomed during […]
Bruce shares some thoughts on averaging down when a share price falls versus supporting a company that needs to raise capital. Companies covered AGFX, JTC, SIS, and SDRY. The FTSE 100 was up +2.0% in the last five days to 7,902. The Nasdaq100 was up +0.1% and S&P500 +0.8% over the same time period. The […]
Screening for a growing dividend, lowly valuation, net cash and decent director ownership leads to 40-bagger James Latham. Maynard Paton studies the timber distributor’s history, financials, management and prospects. I have embarked on further ‘back to basics‘ filtering to unearth a potential long-term winner for my portfolio. This new screen identifies companies that offer rising […]
We have seen a disconnect between the performance of Nasdaq 100 (+19% YTD) versus US regional banks (-28% YTD). Companies covered: two large acquisitions by RAT, FRAN plus G4M’s profit warning. The FTSE 100 was up +2% over the last 5 trading days to 7,788. The S&P500 was flat, while the Nasdaq100 was down -1% […]
Not so long ago, Domino’s Pizza was seen as an attractive growth stock with a lot going for it. Investors viewed the company as a classic retail “roll out” situation where strong growth from existing stores could be turbocharged by opening lots of new ones. This was then rounded off with an asset-light business model […]
Platforms have made it easier for retail shareholders to vote at company AGMs, remuneration committees should take note. Plus a look at the computer games sector: TM17, TBLD, KWS and a couple of financials AQX and BUR. The FTSE 100 rose to 7,685 last week, an increase of +2.9%. The Nasdaq100 and the S&P500 were […]
The Swiss Central Bank’s balance sheet in 2022 shows signs that Credit Suisse’s problems were well understood, but harder for the authorities to resolve. Companies covered KAPE, SDRY, ALPH and EQLS. The FTSE rose +1% to 7476 in the last five days, most of which was on Monday morning. The Nasdaq100 was up +2% and […]
Shares in kitchen supplier Howden Joinery have rewarded long-term investors handsomely. For me, it is one of the highest quality UK businesses in the FTSE 250 index. It is very shareholder friendly, whilst its annual report is one of the best I have read when it comes to explaining how a business works. Howden has […]
With the ‘rescue’ of Credit Suisse over the weekend, Bruce ponders what might happen next and which indicators to focus on. Companies covered BUR and TCAP. The FTSE 100 fell -2.5% to 7,358 over the last 5 days. The Nasdaq100 and S&P500 were up +1.4% and 5.8% respectively, indicating that the sell-off in markets has […]
WANdisco has owned up to ‘significant accounting irregularities’ and the prospects for shareholders now look grim. Maynard Paton revisits the software developer to identify the warning signs Small-Cap Spotlight Report Revisited: WANdisco (LSE: WAND) You can become a better investor by occasionally visiting the stock-market graveyard. One company that now seems destined for the cemetery […]
Although Arm will list in the USA, there should be nothing to stop us buying shares in Britain’s top tech company after it floats. This idea leads Richard to a potentially rich seam of investments he has not previously explored: UK firms listed in the USA. Judging by the headlines, news that Arm is to […]
Following the rescue of Silicon Valley Bank, Bruce looks at possible read across to recent IPOs and IP Group. Companies covered IPO, FRAN and Georgian Banks BGEO / TBCG. I suggested last week that the rally was running out of steam. I was not expecting a bank run in Silicon Valley though (SIVB total assets […]
With the rally running out of steam, Bruce looks at long-run equity returns. The two banks which compete to publish this data have performed much worse than the average equity. Companies covered SHC, RMV and RCDO. The rally seems to be running out of steam. The FTSE 100 was down -0.2% to 7,917. The Nasdaq […]
Richard looks at the good and the ugly in Hollywood Bowl’s alternative performance measures and concludes that the company has put a positive gloss on adjusted profit. In Getting to grips with Alternative Performance Measures (APMs), I explained that exceptional items are costs or gains that obscure the underlying performance of a business. This does […]
Bruce looks at the Berkshire Hathaway 2022 shareholder letter, which Buffett published over the weekend. Stocks covered AVAP, SLP and GBG. The FTSE 100 remained just below 8,000, and was down less than -1%, recovering from a sell-off early last week. The Nasdaq100 and S&P500 sold off more heavily, down -3.9% and -3.0% respectively. The […]
Investors are often intrigued with companies where the share price has fallen a long way. If it can recover, then there could be potential for big gains, especially if the company’s business can improve. Premium soft drinks company Fevertree was loved by the stock market five years ago, but has experienced a dramatic fall from […]
Cross-border liquidity could be driving the market rally, so it’s worth keeping an eye on Central Banks in China and Japan. Companies covered KAPE, HL. and BGEO. The FTSE traded above 8,000 last week, up +0.7%. The Nasdaq 100 was up +0.4% while the S&P 500 was down -0.3%. The US 10Y bond yield has […]
Companies publish alternative performance measures (APMs) that remove one-off costs and gains from profit to give us a better understanding of how they have performed. Like all financial statistics, though, APMs can be abused. Investors should always check how they are calculated. Since making profit is the reason for being in business, many Alternative Performance […]
IPO activity on AIM has hit a 20-year low, which Maynard speculates could be a buy signal for shares on the junior market. Plus coverage of ULVR, RDW, EKF and RNO. Another weekly commentary from me while Bruce is away. I had hoped the FTSE 100 would add just 1.2% to surpass the 8,000 milestone […]
Higher energy bills are supporting significant dividend advances at Telecom Plus. Maynard Paton weighs up the group’s illustrious growth and ambitious targets against a leadership change and unusual marketing. Difficult market conditions have prompted many investors to find safety through attractive dividend shares. Hence a new screen to pinpoint companies that boast a dependable payout, […]
As the FTSE 100 reaches a new peak, Maynard looks at another blue-chip measure setting record highs. Plus coverage of GSK, DARK, SOM and TPX. Bruce asked me to compile these commentaries while he is away on holiday. Many private investors swear their portfolios perform better when they’re not watching the markets, and a record […]
Richard deploys ChatGPT, an artificial intelligence program, to help him understand two software platforms we can invest in that incorporate artificial intelligence. His conclusion: this is not a dystopia, it is the start of a partnership. Unless you have been living under a rock, you have surely heard of ChatGPT. It is an artificial intelligence […]
With equity markets and industrial metals like copper rallying at the start of this year, Bruce looks at some companies geared into the recovery. SDRY, NFC, SAA, BOTB and CWR. The FTSE 100 was flat at 7,774 in the last 5 trading days. In the US the S&P was up +2.5% and the Nasdaq 100 […]
Bruce looks at the government’s misguided attempt to defend the pound with capital controls in the 1970s. Companies covered are forex traders ALPH and EQLS, plus CAPD. The FTSE 100 was down 0.9% in the last 5 days to 7,791. The S&P500 was down -0.3% while Nasdaq100 was up +1.39% over the same time period. […]
Quartix’s vehicle-tracking services have delivered consistently attractive financial ratios. Maynard Paton spotlights how new customers and a good-value workforce are counterbalancing pricing pressures and rising costs. Today I have revisited a SharePad screen that applies two ratios favoured by ‘quality’ investors — operating margin and return on equity (ROE). The exact criteria I re-used were: […]
Bruce looks at Terry Smith’s 13th annual shareholder letter and compares what he’s now saying about his META investment to his commentary a couple of years ago. Companies covered GAW, TMG, FRAN, QTX The strong start to the year continues, with the FTSE 100 +1.64% to 7,851 in the last 5 days, approaching an all-time […]
Bruce looks at how the warm weather in Europe has been affecting financial markets. Companies covered NXT and CNC, plus profit warnings from HEIQ and FDEV. The FTSE 100 has enjoyed a strong early January, up +3.4% to 7,705. OCDO was up +20%, while IAG (the old British Airways) and BT were up +17% and […]
Bruce asks the FinTwit community for some share ideas for 2023. Also looks at one retailer, SDRY, which could benefit from the recovery. The Santa Rally failed to materialise with the FTSE 100 was down -1.4% in December (and flat for the whole year). The S&P500 was down -19% in 2022, and down -5.7% last […]
Regular readers will be aware that I have areas of interest when it comes to research and investing. The past few years these areas have been in the human microbiome, greener energy, including more recently in the transition to electric vehicles and the manufacturers of powertrains, electric batteries inside these motor vehicles, and pharmaceuticals. Today’s […]
Richard puts one last company through his process in 2022. It gives him a chance to reflect on how he has changed the way he uses SharePad this year. Towards the end of every year, I reflect on the year gone by, what has gone right and what has gone wrong, and how I can […]
