In 2021, traders gobbled up shares in cake store franchise Cake Box, then spewed them back out. Today, the company earns twice as much in turnover than it did in 2020, but the share price is not much higher. Bonanza! 5 Strikes Twenty-nine shares have published annual reports and passed my minimum quality filter in […]
They say elephants can’t gallop, but Pets At Home is an elephant in UK pet care, and it has been trotting along nicely. Richard takes a closer look at the pet store chain dominating the market. Of the ten shares to publish annual reports in the last fortnight and pass my Minimum Quality filter, four […]
The trickle of annual reports in January and February has turned into a stream. It will soon be a flood. Eight companies have achieved less than three strikes. Richard takes a closer look at Dotdigital, which achieved only one strike last November. Of the 13 companies that published annual reports in the last fortnight, a […]
Guest author Andrew Latto explains that UK gilts serve as a benchmark for investment returns, offering safety, no capital gains tax, and government backing. While their fixed returns provide certainty, they remain vulnerable to inflation and interest rate fluctuations. Gilts don’t need a UK government guarantee – gilts are the government. They are also among […]
Richard digs deeper into Spirax’s annual report to discover why its numbers have deteriorated and consider whether the company can re-establish its tremendous long-term track record. 5 Strikes Only four companies have published annual reports and passed the minimum quality filter since my last article. Only one of them achieved less than 3 Strikes, and […]
Six years after selling Science, a share that today has no strikes to its name, Richard looks at the consultancy’s last annual report to see where the company’s strategy took it. Since last time, only three companies have published annual reports and made it past my minimum quality filter. I assigned all of them 4 […]
January is a quiet month for annual reports, so Richard mines the list of shares that passed the 5 Strikes test in 2024 and should pass it again in 2025. Spirax Sarco catches his eye. Only two shares have published annual reports in the sleepy post-New Year reporting season. That is because the many companies […]
Cerillion has a perfect track record selling software to a challenging sector. Goldplat knows how to profit consistently from miners in troubled economies. Renew has figured out how to make big returns from labour intensive infrastructure repair and maintenance. All pass the 5 Strikes test. Unsurprisingly companies haven’t been busy churning out annual reports over […]
Richard makes a rare find, a company with no strikes to its name. He also stripped down his 5 Strikes system and checked its components to make sure it was fit for the purpose in 2025. Happy New Year! And a propitious one it is too, because the only company to have scored less than […]
Richard brings you the latest shares to pass his 5 Strikes process and takes a look at Raspberry Pi, a rare British technology company that will not pass the 5 Strikes test for at least 7 years. Since this is my last article before Christmas, I am (temporarily) passing up the opportunity to write about […]
Gram for gram Bioventix must be one of the most profitable manufacturers in the UK. Richard also looks at Dotdigital. It too has an unblemished financial history. Since my last update in mid-November, six companies have passed my minimum quality filter, and four of them have achieved less than three strikes. These companies have achieved […]
Only two companies pass Richard’s minimum quality filter. Luckily Associated British Foods and Softcat both pass the 5 Strikes test. It’s been a thin fortnight for my 5 Strikes system since I last updated you. Only two of the 16 companies that published annual reports passed my minimum quality filter, which is a pretty low […]
Phil looks at the state of the US stock market following the presidential election and the reasons why it might continue to boom and why it might not. Even if you don’t invest in US shares, what happens on Wall Street has a big say in how UK shares will perform. A high-flying US stock […]
After rival house builder Bellway decided not to buy Crest Nicholson, Phil asks whether the shares have been treated too harshly by the market or if investors should stay clear of them. Source: Crest Nicholson It’s been a rough few years for house-building companies. COVID-19 badly disrupted their businesses while government subsidies and low borrowing […]
Investing in UK market-leading companies is a marmite proposition. They must have done something good but, if they are already so big, how can they keep taking market share? Richard examines market leaders Dunelm, and Inchcape (again!) In this week’s update, only two companies published annual reports, passed my minimum quality filter and the 5 […]
Phil takes a look at the subject of factor investing and whether quality factor exchange-traded funds (ETFs) can deliver better returns than those that track the stock market. Factor investing 101 To some extent, most investing is based around factors. Factors are used to deliver sources of return from portfolios and to explain the performance […]
Richard looks at one of his least favourite kinds of business – asset managers. Love them or loathe them, many London-listed asset managers are profitable and financially sound. Investors, aka asset managers, are not my favourite category of share. The financial world is precarious to me, which is why long ago I decided to take […]
Phil asks whether the latest profit warning from Aston Martin is the final straw for investors or whether a turnaround in its fortunes is still possible. Since its flotation five years ago, shares in Aston Martin Lagonda have been a disastrous investment. They have lost more than 90% of their value since then. Last year […]
There is very little 5 Strikes action, so Richard takes the opportunity to slide Inchcape onto the front burner. Over the last eight years, the company has sharpened its focus on motor vehicle distribution. Deciding what to focus on is the basis of good strategy. Since my last article only two shares have published annual […]
Many investors like to buy shares that are popular or those of companies that are doing well. Phil takes a look at why sometimes buying shares that professional investors are betting against can generate big gains. Finding unpopular shares Most investors make money by buying shares that eventually go up in price. However, it is […]
From a pool of more than 200 shares, Richard hones in on software company Kainos (again), fast food favourite Greggs, motor vehicle distributor Inchcape, integrated pet shop and vet group Pets at Home, and defence technology supplier Cohort. On the horizon: posh wallpaper and fabric designer Colefax and Gately, a law firm. Well, maybe not […]
The conventional wisdom that stocks deliver the best returns for investors is generally true, but only if you can ignore the wild ups and downs that come with them and stay invested. Phil looks at whether a popular and lower-risk approach to investing is worth considering at the moment. Shares deliver the best returns if […]
This week, investment professional, Jamie Ward discusses the ways in which private investors are at an advantage to professional investors. He then describes practical steps to exploiting these advantages and avoiding the pitfalls. From the outside, the life of a fund manager looks to be a charmed life. Indeed, if you are interested in markets […]
In the latest in the series, we have an investor with over 10 years of experience who is relatively new to ShareScope – Andrew. He is sharing a bit about his investing history and how he uses ShareScope. If you have your own routine you would like to share, or some interesting custom settings, layouts […]
This week, Jamie Ward rewatched an old interview with an investor whose style might be considered rogue in today’s professional investment landscape. He believes that the lessons espoused could be useful for private investors who consider whatever wealth they have accumulated to be precious and irreplaceable. He then suggests a few businesses that might form […]
The latest haul of investment candidates from Richard includes a software company, a timber importer, a one-of-a-kind fantasy gaming and modelling company Games Workshop, a housebuilder and a business so small you may never have heard of it. Just to recap and contextualise, 5 Strikes is a quick way of deciding which shares are the […]
This week, Jamie talks about how the phrase ‘quality investing’ has been distorted and why complacency in investing can be really bad for your returns. He then explains why he thinks Unilever, a darling of quality investment portfolios, might not be as good as some perceive. As is so often the case, seemingly minor events […]
Richard’s 5 Strikes system puts three very different businesses in the frame: Athleisure brand Lululemon, Gamma Communications – an IT company that supplies communications systems, and MS International, which manufactures naval cannon. Bingo! Well, almost Bingo. In my last article, I promised to order the results of my 5 Strikes system by number of strikes […]
This week, Jamie talks about the narrow education professional investors receive and why it is important to keep learning. He then discusses why you can make a compelling case for Burberry yet he does not own it currently as he puts into practice the lessons he’s learned later in his career. When I passed my […]
Richard scratches the itch that is payments company PayPoint. Maybe his time would have been better spent investigating one of the other companies on his research list, Cranswick, say, or Castings, but he has no regrets. The main focus of this article is PayPoint. There’s no snappy adjective I can use to describe Paypoint because […]
In the latest in the series, we have experienced investor and long-term subscriber – Harry sharing a bit about his investing history and how he uses ShareScope. If you have your own routine you would like to share, or some interesting custom settings, layouts or screening filters – we would love to hear about you […]
A look at the bank sector, that has been disappointing for decades but has now begun to outperform the wider market. Companies covered BARC, CBG, LLOY, MTRO, HSBA, STAN Lloyds kicks off the H1 Jun reporting season for UK banks on the 25th of July, closely followed by NatWest, Standard Chartered, HSBC and Barclays. Most […]
The latest haul of 5 strikes shares includes Halma and RS, proof perhaps that big companies can gallop, or at least trot. Richard also doffs his cap to Bloomsbury Publishing and works out how profitable Next 15 really is. We’re in a low period for annual report publishing as the large number of companies that […]
This week, a podcast that Jamie listened to inspired a little research project, which reiterated an important lesson in investment. He asks what makes a good business and what impact buying back of company shares has or hasn’t had over the last ten years. I listened to a podcast, recently where the host interviewed a […]
The standout share from Richard’s latest 5 Strikes haul is Pets at Home, a dominant pet care business in the UK with a strong financial track record. Fifteen companies have passed the Minimum Quality Filter since my last update, but the finances of only three score less than three strikes, according to the 5 strikes […]
In the latest and first video version in the series, we have very experienced investor and Convener in Signet, Ray Williams sharing a bit about his investing history and how he uses ShareScope. As we all know, there is a lot of functionality in ShareScope and there are many different ways to use and customise […]
Richard’s 5 Strikes systems discover four more potential long-term investments, but he doesn’t investigate any of them. Instead, he’s drawn to B-Corp aspirant and gaggle of consultancies Next 15. It has only two strikes to tarnish its name. Since the last 5 Strikes update, my 5 Strikes system has discovered four more candidates for long-term […]
Phil looks at the recent bid interest in Hargreaves Lansdown and suggests that more bids for unloved companies could be on the way. From loved to laggard Many investors like to own shares in companies that are doing well and where the share price is heading upwards. This is perfectly understandable as this situation provides […]
Bad news: customer service is in decline in the UK. Good news, we can still invest in the companies bucking the trend. Richard sprinkles some stardust on SharePad to reveal companies that are doing the right thing and reaping the rewards. A chance encounter with an article about declining standards of customer service in the […]
Banks have been one of the best-performing sectors in the UK market so far in 2024. Phil undertakes a very simple SharePad analysis of the sector to see if the good run can continue. Banks sustain their outperformance The long-term performance of UK bank shares has not been good. Many owe their survival to taxpayer-funded […]
The latest companies to pass Richard’s 5 strikes system include a direct seller of swag, an estate agent franchise, an engineer that should galvanise investors, a soft drinks company, and a market-leading mortgage intermediary. Since my last update, I have run 16 shares through the 5 Strikes system. Five achieved less than three strikes. This […]
Phil takes a look at some of the issues investors should consider when owning a share that has performed very well. He does this by taking a look at Rolls-Royce shares. It’s always nice to own a share that performs very well. However, there will come a time when investors will ask themselves whether they […]
If ever there was a company that demonstrated complexity can be bad for business, it’s Nichols. When diversified, profitability crumbles. When it sticks to marketing soft drinks it prospers. Guess what it is doing now? The one thing you will not read much about in this article is Vimto. Vimto is a soft drink and […]
Companies have three main choices when it comes to financing their business. They can use money from shareholders or equity, use the profits and free cash flows produced by the business, or they can borrow money from lenders. Debt on its own is not a bad thing. If a company takes the money it has […]
Richard tightens up his “Minimum Quality” filter so that SharePad is doing more of the heavy lifting. In a not-very-scientific test, 18 out of 21 good-quality businesses were identified by it. Last month I shared a list of all the companies that passed my semi-automated sifting of the entire stockmarket over the course of the […]
Phil uses SharePad to shed some light on the very popular Fundsmith Equity fund. Fundsmith has great long-term performance but recent performance is more modest. Fundsmith is one of the most popular managed funds out there and gets plenty of column inches due to its high-profile manager Terry Smith. Since starting out at the back […]
Richard unearths five good-quality businesses that have recently published annual reports. Top of the list are InterContinental Hotels (IHG), and MoneySupermarket (MONY)… Joyfully, I am away on holiday but my holiday is mistimed in one respect. The post-Christmas lull in annual report publishing has come to an end. A large number of companies with financial […]
In the latest in the series, we have a very experienced investor who you can find on YouTube and the-social-media-channel-formerly-known-as-Twitter – Ramin Nakisa AKA PensionCraft sharing a bit about his investing history and how he uses ShareScope. As we all know, there is a lot of functionality in ShareScope and there are many different ways […]
Phil puts the embattled Reckitt Benckiser under the SharePad spotlight. Last Friday saw a sharp fall in the share price of Reckitt Benckiser – one of the world’s leading household and consumer goods companies. A judge in the US awarded damages of $60m after ruling that Reckitt’s infant formula products may have contributed to the […]
For a year now, Richard has been scrutinising companies and awarding them ‘strikes’ for complications that make them tricky to analyse and potentially unpredictable as investments. Now he’s combed the entire market, he reveals all the shares that didn’t strike out. It’s a year since I started the 5 Strikes project, which means I have […]
Former Investment analyst and financial journalist Phil Oakley shows how he uses ShareScope to research companies and shares. I have been using ShareScope since it was launched in 2015 and helped to develop many of the features that are in it today. It remains a great resource for private investors and I find it invaluable […]
IntegraFin and Shoe Zone are the only companies to achieve less than three strikes as the winter lull in annual reporting intensifies. Richard also takes a closer look at Renew. 5 Strikes Since my last 5 Strikes update, I have only found two shares that achieve less than three strikes. A strike is a complicating […]
Phil looks at the issues with one of the most important ratios in investing and argues the case for a cleaner and more realistic alternative. Return on investment or return on capital employed (ROCE) as it is commonly referred to is seen as one of the best measures of a company’s financial performance. It is […]
Breakaway gaps, otherwise known as pro gaps, can signify a major change in sentiment and the start of a new primary trend. In this article I will show you how to find pro gaps and more importantly show you some money management tactics to help you get on board a potential new trend in a […]
“Investing success is two-thirds avoiding mistakes, one-third doing something right.”- Ken Fisher Private investing offers the opportunity for individuals to take control of their finances and even achieve financial freedom. However, without proper knowledge and preparation, private investors can unknowingly make mistakes that hinder their portfolio investment returns. Of course, because we are human, it […]
Richard introduces the latest fish caught in his 5 Strikes net. The seven shares include a giant caterer, a software supplier with a perfect track record, and a travel agent that makes “jollies even jollier”. Post-Christmas, there is a bit of a lull in the annual reporting season. That is because a large number of […]
In my previous article, I discussed the reasons for investing in good companies and how you can search for them in SharePad. We saw that investing in good companies can generate stellar returns for investors over time but being able to buy the shares of them at a reasonable price is often difficult. It is […]
As we all know, there is a lot of functionality in ShareScope and there are many different ways to use and customise it. Last year’s customer survey also showed us that the majority of you use ShareScope every day. Inspired by this and some social posts from long-term subscribers who talked about their daily ShareScope […]
There are a rapidly growing number of certified B Corps organisations that combine purpose and profit. As yet, only a handful are listed, but Richard thinks we’re at the beginning of a trend. It may be a profitable one for investors. This year’s crop of Christmas gifts has rekindled my interest in investing in a […]
Investing in good companies is one way to grow the value of your portfolio. In this article, Phil takes you through his method of searching for outstanding British companies using SharePad. When I first started out in the investing world more than a quarter of a century ago, value investing was still very much in […]
Having used the 5 Strikes system for nine months, Richard has decided it is a keeper. Commenting on the latest investment candidates to achieve less than 3 strikes, he explains what he was thinking while he was separating the wheat from the chaff. Happy New Year! At the turn of every year, I review my […]
As we all know, there is a lot of functionality in ShareScope and there are many different ways to use and customise it. Last year’s customer survey also showed us that the majority of you use ShareScope every day. Inspired by this and some social posts from long-term subscribers who talked about their daily ShareScope […]
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 […]
Buying a share in a company in the hope that it might get taken over is a risky thing to do. There’s no guarantee that a buyer will ever emerge and you could end up losing money waiting for one to turn up. Phil takes a look at some prominent takeovers of 2023 and asks […]
As we all know, there is a lot of functionality in ShareScope and there are many different ways to use and customise it. Last year’s customer survey also showed us that the majority of you use ShareScope every day. Inspired by this and some social posts from long-term subscribers who talked about their daily ShareScope […]
Six shares have passed the first stage of Richard’s 5 Strikes process. Many of them are destined for the “too hard pile”, perhaps the most underrated element in an investor’s toolkit. Here is an update on the latest companies to have published annual reports and passed the 5 Strikes system*. Since the last update four […]
There’s no harm in using fund managers as a source for investment ideas but blindly copying them without doing your own research can be a costly mistake. Phil looks at the recent purchase of Rightmove shares by two well-known professional investors to see if private investors should consider buying in as well. Why copying others […]
This week we have Stock Whittler and Sue from East Anglia kindly sharing a bit about their investing journey and how they use ShareScope.
Richard uses SharePad and Artificial Intelligence to help him learn about listed law firms. The legal sector is not quite the unappreciated stock market backwater he anticipated. It is a bit of a horror show, with a couple of light intermissions. It was the data that alerted me to the opportunity in listed law firms. […]
It has been a month since Richard revealed the latest shares to pass his 5 Strikes system. The good news, some have passed with flying colours. 5 Strikes* is my main method of discovering new long-term investments, and since we share my discoveries here regularly, some readers will be familiar with it by now. If […]
In the second of his articles about stock-picking formulas, Phil takes a look at the Piotroski F-Score to see how useful it is at identifying winning shares. My previous article looked at the usefulness of The Magic Formula as an investing strategy in today’s stock markets. In this article, I am going to turn my […]
The Capex to operating cash flow ratio can tell us a lot about a firm’s priorities. Richard explores the ratios of a number of capital-intensive businesses. For many years I have held shares in Goodwin, a family owned mini-conglomerate of engineering businesses. This gaggle of businesses is capital intensive, which means Goodwin has to invest […]
Joel Greenblatt’s simple stock-picking formula delivered great results in the past but may no longer be useful for today’s investing world. Phil takes a look at why this once popular stock screen now fails to consistently outperform the market. A brief overview of the magic formula The magic formula is the topic of Joel Greenblatt’s […]
Since Richard started scoring companies in SharePad last April, twelve companies have scored zero strikes, the best possible score. In this article, he decides which of them to research next. Five-strikes-wise, there is not much to report on. I have awarded four shares that have reported in the last two weeks with less than three […]
Phil uses SharePad to examine the impact of share buybacks on shareholder returns. Do they make shareholders better off and should investors focus on growing companies instead? Do share buybacks really make shareholders better off? Should they prefer dividends instead? Opinion is divided on this subject. The great thing about a dividend from an investor’s […]
House building in the UK has experienced numerous peaks and troughs with shareholders in listed housebuilders experiencing similar fortunes. Buying housebuilder shares when they are unpopular has made investors plenty of money in the past, but is now a good time to invest? Phil takes a look at the sector through SharePad in an attempt […]
Alpesh Patel OBE looks at the causes and potential strategies when a stock that has risen significantly experiences a sudden drop. When a stock that has risen significantly experiences a sudden drop, it can cause concern for many investors. This situation is common in the stock market, and it’s crucial to understand the reasons behind […]
Richard reveals the latest shares to pass his 5 Strikes scoring system, and attempts to bottle the essence of Christie, a big data business back in 1846! It may be the height of summer, but I am still beavering away scoring shares as companies publish their annual reports. Two months of top-scoring shares To recap, […]
An iron rule in long-term investing is to understand the business. Richard adapts business school teaching to work out how companies make money. One of the advantages private investors have over many fund managers is that we do not have to worry about being fired or losing out on bonuses just because we have not […]
Richard finds 11 franchisors listed in London and pits them against each other in a championship to find the best one. In round one, a wildcard goes out to the number two seed. One of the first things I noticed when I started scoring companies in SharePad this spring was that franchises were scoring well. […]
Michael talks shorting and specifically – using this weeks news story on Ocado as an example – when the shorters get squeezed. Let’s be honest. Everyone loves a short squeeze. Unless, of course, you’re the shorter being squeezed. Then it’s like being nailed to a chair that’s set on fire. But shorting is an active […]
Share prices on London’s Alternative Investment Market (AIM) have come under huge pressure over the past 18 months. But dividends from AIM stocks actually hit a record high in 2022. So what do these mixed signals really mean, and where can you find the best dividends on AIM? I am going to start this article […]
To celebrate the launch of his new book next month Robbie Burns AKA The Naked Trader delivers a special guest article on one of his favourite strategies. Plus details of a new SharePad filter so you can try the strategy yourself. There are loads of strategies to suit most traders/investors, except those of you who […]
As the number of new annual reports dwindles from a flood to a trickle, Richard examines another cut of shares that he scores highly. It is leading him to think the unthinkable. The springtime flood of annual reports has abated, so this article probably contains the last big cut of shares that, after scrutinising the […]
In this week’s Market Moves, Ben takes a look at some of the biggest winners and sector trends over the past week, including a dramatic price surge in the US tech sector (and encouraging moves in UK tech shares) plus a look-ahead to a quieter week of financial results and updates. Semiconductor specialist Alphawave IP (now Alphawave […]
In the third part of this series about avoiding investment mistakes, Ben looks at some of the reasons why companies disappoint investors – and the red flags that can help you avoid them. When it comes to navigating your way through the stock market, there are plenty of factors that can lead you astray. Psychology […]
In today’s fast-paced world, artificial intelligence has emerged as a disruptive technology with the potential to transform various industries. Investors seeking exposure to this exciting field may consider investing in stocks that specialise in AI solutions. In this blog post, we explore the world of artificial intelligence and highlight some of the best AI stocks […]
In this week’s Market Moves, Ben takes a look at some of the biggest winners and sector trends over the past week, including a look at the performance of gold and gold shares, plus a look ahead to another big week of financial results and updates. Despite the market drifting sideways and a sense of […]
In the second part of this series about avoiding investment mistakes, Ben looks at how influences from the outside world can ruin the best investing plans, and what you can do about it. When it comes to sensible stock selection, careful portfolio management and navigating the ups and downs of markets with aplomb, we really […]
Phil looks at the income on offer from UK government bonds and asks whether sticking with shares might still be a better option. Since the 2008/09 financial crisis, investing in government bonds for income has not been very fruitful. The policy of very low-interest rates as a response to the crisis meant that many governments […]
In this week’s Market Moves, Ben takes a look at some of the biggest winners and sector trends over the past week, including significant moves in travel and leisure stocks, plus a look ahead to a bumper week of financial results and updates. Among mid and large-cap stocks, pubs group Mitchells & Butlers was the […]
In the first of a multi-part series on avoiding investment mistakes, Ben looks at how our own emotions and behaviour can lead to poor decisions, and what we can do about it. When it comes to making good decisions, psychologists have found that investing is a field where humans are surprisingly bad at doing the […]
Richard reveals the top-scoring shares to have been through his “Five strikes and you’re out” scoring system. Top of the list is a company he has never investigated before. In Five strikes and you’re out, I introduced a method for rapidly scoring shares by eyeballing the financials in SharePad using one custom table. Every day […]
In this week’s Market Moves, Ben takes a look at some of the biggest winners and sector trends over the past week, including consumer discretionary shares and housebuilders, plus upcoming financial results for the week ahead. Shares in the Consumer Discretionary industry have had a very mixed 18 months. As one of the most economically-sensitive business […]
Company dividends appeal to investors for a variety of reasons. Not only are they an important source of investment returns, but they can also tell you a lot about the quality of a business, especially when its payouts are growing. _______________________ High inflation and rising rates have conspired to hamper equity returns over the past […]
In this week’s Market Moves, Ben takes a look at some of the biggest winners and sector trends over the past week, as well as upcoming financial results for the week ahead. Towards the end of last week, it seemed increasingly likely that another US regional bank – this time First Republic Bank (NYSE: FRC) – […]
A major shift in the market cycle has forced investors to think more defensively over the past 18 months. But with expectations of a recovery on the horizon, where can you look for some of the early winners when markets rebound? _________________ When markets began to slide in early 2022, it was an acknowledgement that […]
Richard employs some fuzzy logic to narrow the number of companies returned by his filter. A bit like we might do a set of press-ups every day, it is a routine to make him a stronger investor. While everybody is talking about the latest developments in artificial intelligence, getting computers to think more like humans, […]
With inflation proving stickier than hoped, the pressure on company profits remains. This week Ben looks at how shares in good quality defensive shares could help protect your portfolio. News this week that double-digit inflation in the UK is proving to be frustratingly sticky is a conundrum for investors. After the inflation-induced pressure on share […]
In this week’s view of the market, Ben takes a look at fund manager performance, the earnings outlook, sector momentum, one-year share winners and upcoming financial results for the week ahead. Last year was a difficult one for private investors, so in a way, it’s reassuring to hear that many professionals had a hard time […]
