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Thread: BeeBop does UK

  1. #31
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    Beebop has mostly been sitting on fingers. I use the phrase ‘mostly’ as I did take the opportunity to realise a significant loss in one of my UK retail stocks (Bonmarche) and it has been unpleasant knowing that my historical performance has halved due to a 60% loss in this investment. However, there are better recover opportunities available and I shall avoid being married to my performance charts when long-term choices are better.

    Overall, I remain in the same position I was in in early January - my holdings appear stable - flat to a slight upwards trend thanks to Trifast and Empresseria.

    And yes, I did get have to “prove” to Internaxx that I did understand that prices can rise AND fall so that I could trade ‘complex’ instruments...he he he...thanks for the warning fellow gulfer.

    At this point I still have no new cash to inject into the GBP pool (USD to GBP is swinging a bit so am leaving non-schooling cash as USD as I am hoping the USD will strengthen a tad) - however, I splashed a little on high end on ultra-lightweight camping gear for a spot of wild camping in the warmer UK weather for future holidays (preferable to hotels and cruises)..plus a few ultra-long haul flights (as it is far far cheaper to fly return from the UK to NZ than the Middle East).
    Last edited by BeeBop; 15-02-2018 at 08:03 PM.

  2. #32
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    So Beebop is no further ahead than at New Year. Well, I do admit, marginally ahead but this week could adjust that. Emresseria (EMR) has declined a tad but Trifast (TRI) continues upwards. My stable dividend stocks have eased (VOD and MANX) but both have paid out healthily. On the growth side, my MNKS and JEO have both pulled back whereas my Japanese units are up and stable.

    I do have new cash to inject into the portfolio (not a lot but enough to either add to a holding or to start a new holding), however, I am in two minds what to go for. I really felt that I was on to a great micro-cap stock based on numbers and "tips" but when I went to their website, I couldn't for the life of me understand what their core business was (BATM). Their momentum looks steady, products align with good sense, but, I just couldn't get a good gut feel Then I found a great income based emerging market trust (MYI) but they were holding too much in tobacco and I won't invest (knowingly) in these companies. So now I doing diligence on Henry Boot (BOOT) who seem to fit what I look for.

    We shall see what the next few weeks hold...it has been interesting and I have no opinion on what is going to happen going forwards!

  3. #33
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    I thought it was about time I gave another update as the markets continue their volatility. Overall, I am up this past 4 months by about 4%. Most of the increase can be attributed to my Trifast holding (which is now my third largest holding due to its own appreciation) and Baillie Gifford Shin Nippon fund. The other funds are still around their early January purchase prices. Not surprisingly my defensive telecom stocks have edged upwards also.

    I did buy into BOOT.L, a very small holding from dividends earned. It is a good yielder with a solid earnings and balance sheet. Of course, I hope it will do well. I now have two small hopefuls: BOOT.L and SDY.L. TRI.L was (once upon a time) a hopeful and is now a portfolio core. Both SDY and BOOT are dividend payers which is a fundamental requirement for me (in direct share holdings).

    As to new activities: I have plans but they don’t seem sensible as all holdings are doing what they should be. In the back of my mind, I have the notion of selling all of the holdings and shooting it back to NZ (I will do well on the exchange rate at the moment) to put into some kind of conservative tracker fund or diversified income fund. My reason for doing this it to secure what I have - I am no financial expert, nor share market expert and as the portfolio grows, I get more cautious. I would then ‘start again’ putting fresh cash into the markets. Oh dear, what is one to do?

    Cheers
    BeeBop

  4. #34
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    BeeBop is really happy, now up around 9% for the year thanks to MNKS and BGS. To satisfy my trend towards caution, I have just sold one of my large global mutual funds as it was quite heavy into technology (some overlaps with MNKS). Also my off-shore broker has changed their fee structure so I will be charged each quarter for holding each fund. Last night I purchased another listed investment trust - BlackRock Throgmorton - focusing on UK small caps.

    I have been slowly putting more money into the listed trusts and have found a good way to screen them due to a range of tools available on-line. I have used both Morningstar.co.uk and FEtrustnet to screen for return, discount, momentum, and yield taking several different timepoints. It is quite a manual process but worth it.

    Now I must get off and read my next issue of the investor’s chronicle to start planning my next purchase (likely to be Asia excluding Japan and one individual stock-pick).

  5. #35
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    BeeBop

    Have you noticed some strength for LON: FERG, LON: ULVR?

    Cheers

  6. #36
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    Valuegrowth

    neither are shares that I follow, albeit ULVR was of interest to me a while ago. From my cursory scan both seem to be fairly solid, of which, FERG is a bit too “fairly” valued...I.e. according to me, it could do with a bit of a higher price and it seems to have a little bit of recovery available (as does ULVR). if I were to look at FERG, I would be looking at why they’re are not as strong as their balance sheet / sales ROE etc would indicate (management?).

    If I lived in the UK and wasn’t watching the exchange rate and wanted a solid investment, I dare say I would look at holding both provided their vision/strategy presentations made me feel enthusiastic.

    Not sure, I would put NZD to GBP to purchase as the gains could be negated (if they don’t perform strongly). I am putting USD to GBP at the moment so that would mean it could make sense for those investing from a USD base.

    I think there is a bit of a recovery available in UK value - and it is what many commentators are suggesting (overall PE and debt levels better than the US market).

    Just my opinion.

  7. #37
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    Thanks Beebop.

    Buying quality stocks in countries with weak currencies could bring great return. Few years back USD was weak. Those who parked money there before others made bundle of money. Brexit made another great opportunity. Pound was under pressure but intelligent investors parked their money in the UK taking advantage of brexit panic. Some UK and Europe stocks still could do well specially overlooked, neglected and underperformed stocks over the last 18 months.In an extended market, discounted firms with strong balance sheets could stand out from the rest.

  8. #38
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    Valuegrowth - the UK (and its internationally listed trusts and shares there) do seem to have room to run - I am just hoping that the GBP doesn’t creep up any further (no interest rate rises forecast there until August at the earliest), or maybe I should say that I am hoping the USD continues to strengthen (depending on which commentator I am reading).

    I have fresh funds seeking a home in next short while so I am going to have a little bit of a dig into FERG following your post but I have quite a big holding in LLOY (bond proxy with hopefully a capital upside) so wanting to ensure that any individual holdings actually have upwards price movement.

  9. #39
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    Beebop I agree that UK (and its internationally listed trusts and shares there) do seem to have room to run.

    FERG and ULVR

    Yes both Ferg and Ulvr are fairly valued.FERG has delivered an ROE of 28.59% over the past 12 months. ROE has generated from its capacity to increase profit without a large debt burden. It also has a lower PE ratio. So far it maintained its five year, one year, one month and five day bullish chart. At some point it also will have correction once it hit top. ULVER also had a five year bullish chart. Over the last one year, It has underperformed but there was some good support during past one month.

    https://finance.yahoo.com/news/did-f...143822542.html

    LLOY

    Some analysts are expecting it to outperform the market.

    Your decision to pick individual stocks in Asia is a wise decision as there are attractive stocks. I just completed accumulating one particular company in Asia that I like most mainly because of its understandable business, attractive valuation (current and future), growth and strong balance sheet (current and future) and ability to add cash flow for foreseeable future. I am hoping to add more.

    I saw somewhere that company with a strong balance sheet is "antifragile." The word -- coined by best-selling author and trader Nassim Taleb.“Try to invest in companies that have some trouble in their past and have come back from it,” Taleb recommends in his book Antifragile. Taleb says this is important after 2008.
    Asian markets such as Pakistan, Philippine, Vietnam, Indonesia and Thailand have slowed down after their mega bull run during last five years. In addition to above frontier and emerging markets, Poland and Argentina also had some great bull markets. Argentina market is also slowing. Above markets were darlings of fund managers and investors during last five years and some markets ended up with too hot. As a result of it, Investors turned into strong profit taking and selling stocks heavily.Investors and funds are looking for new markets now.
    Last edited by Valuegrowth; 13-05-2018 at 02:09 PM.

  10. #40
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    A further update as my fingers are sticky wanting to buy and sell again! Thankfully, I have “lost” (temporarily) money in an international transfer due to middle eastern banking troubles AND I have needed to pay full independent UK boarding school fees so I have been shackled.

    Separating my portfolios has now made my self-control a bit better. The growth one is up 12% for the year with the current three top performers being Baillie Gifford’s Shin Nippon Fund, Jupiter European Opportunities, and finally a small holding in SDY.UK (Speedy Hire). In fact, the only share not to have moved strongly in the past three weeks has been TRI.UK which makes a change. My next purchase is still waiting and it will be Asia as eluded to in a previous post. The conservative portfolio has made no capital gain, mind you most of it is accumulating cold hard cash for school fees, however, it has produced some nice dividends which puts it up 1% in total for the year to date. I am planning to now put my next lot of cash into a property fund called Regional REIT (RGL.UK) so that I can park some of the 2019/2020 cash into it. It is nicely diversified and has a current yield of around 7.1% with a little bit of capital growth available. Overall, I am tempted to sell up and put everything under my pillow but logic and numbers reign supreme. A 100% loss in both portfolios is easily survivable and of a low probability. A 20% loss is more likely and would cause no short-term issues as I have the conservative portfolio.

    This is the most interesting hobby I have and would thoroughly recommend it.

  11. #41
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    As I have now transferred hemispheres (again), it is time for another short update. On May 11th, I said that I had sold one of my large global funds, I had sold most of it but not all. So recently, I sold the remains and put it into my Japan small cap fund (BGS.L). Luckily, I did the transfer following a bit of a two week boom on the fund and into a price/NAV discount on my BGS.L so the portfolio is decidedly healthy.

    TRI.L reported last week and yet again, it performs steadily. Cross checking its metrics against my targets there is no reason to sell. It is no longer a high growth stock as one of my key metrics is just shy of target but well within a healthy level. It, however, now makes up 14% of my growth portfolio and I don't want to have a single share taking up much more than 10%. As I have concentrated my holdings down, a decent weighting is acceptable. Another solution to this weighting is to merely add some more funds to the portfolio and another share which would dilute the holding a tad - a bit sneaky but it will do the job.

    So over the past two weeks my growth performers have been TRI.L, MNKS.L, JEO.L, and THRG.L.

    In the education/conservative portfolio, sweet nothing has happened. LLOY.L is like watching paint dry and VOD.L is so fickle that I am fed up. That will be sold once it gets back to its last cycle top (it seems to like going up and down according to which way the wind is blowing). Nice dividends though!!

    On the cash front, I have yet another stash lost in the ether - international banking is a dang humbug.
    Last edited by BeeBop; 16-06-2018 at 03:53 PM. Reason: Typo JEP.l should have been JEO.L

  12. #42
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    What a week but what a surprise for me as the folios barely noticed the swings, although as of last night, at a new all time high (just). Fortunately, the missing funds have shown themselves AND another tranche of funds will come available. Needless to say that my reading over the past few weeks has me lined up for some new purchases.

    The funds will be unfairly split over my two folios: 2/3 into education and 1/3 into growth. The education folio gets most as most of the money is a company refund for insanely expensive UK fees. I was intending to put 1/3 into the property IT, REIT.L, but I may put it into SLI.L as a slightly more liquid alternative both are good and have good yield. Another 1/3 will be into EAT.L a European small/mid assets trust, again paying a high yield. This will give me good weight in Europe (as the growth folio) has a European Growth IT in it (JEO.L). The final 1/3 is into the growth folio and should be BBT.L, which is a world-wide healthcare trust running at a small discount to NAV. We shall see (1) how well the funds initially arrive (2) if I can transfer them out to the target account without them hitting the ether again (3) if I get the buys placed well and (4) if the folios remain steady.

    VOD has started to go up! Albeit fractionally.

  13. #43
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    Quote Originally Posted by BeeBop View Post
    What a week but what a surprise for me as the folios barely noticed the swings, although as of last night, at a new all time high (just). Fortunately, the missing funds have shown themselves AND another tranche of funds will come available. Needless to say that my reading over the past few weeks has me lined up for some new purchases.

    The funds will be unfairly split over my two folios: 2/3 into education and 1/3 into growth. The education folio gets most as most of the money is a company refund for insanely expensive UK fees. I was intending to put 1/3 into the property IT, REIT.L, but I may put it into SLI.L as a slightly more liquid alternative both are good and have good yield. Another 1/3 will be into EAT.L a European small/mid assets trust, again paying a high yield. This will give me good weight in Europe (as the growth folio) has a European Growth IT in it (JEO.L). The final 1/3 is into the growth folio and should be BBT.L, which is a world-wide healthcare trust running at a small discount to NAV. We shall see (1) how well the funds initially arrive (2) if I can transfer them out to the target account without them hitting the ether again (3) if I get the buys placed well and (4) if the folios remain steady.

    VOD has started to go up! Albeit fractionally.

    Thanks for sharing your investment history, I appreciate at as I know few people investing over there now.

    The AIM market has more loser than winner over its history, I have had large and long term investments in Britain's two listed pawnbrokers, Albemarle & Bond and H&T. Done well as an investment if you understand the business.

  14. #44
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    Quote Originally Posted by Raz View Post
    Thanks for sharing your investment history, I appreciate at as I know few people investing over there now.

    The AIM market has more loser than winner over its history, I have had large and long term investments in Britain's two listed pawnbrokers, Albemarle & Bond and H&T. Done well as an investment if you understand the business.
    Thank-you Raz,

    I will take a look at your two investments out of interest. You are right about the AIM as my biggest looser was from there...but also my biggest winner. Now I am focusing on BlackRock’s Throgmorton Invesment Trust (for small caps) instead while running my winners...selling my small holdings (e.g. Speedy Hire). Overall, I have won nicely in the AIM but as my skin in the game becomes more important, I feel the folio should have diversification in small caps. Easier for me to focus on other invesments too without runnning after small cap individual holdings.

  15. #45
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    With the economic crisis in Turkey, the risks of a no-deal in Brexit, and the tension in Iran all on my radar as each issue can have a significant bearing on my day-to-day life. Turkey provides military security and food to my adopted home, Iran provides food and is threatening a sea-strait block, and the no-deal brexit affects my GBP savings and next house purchase. With these in mind, my investing is active.

    As the GBP has fallen significantly against the USD again, I am funnelling as much USD over there as possible. This means more investing in the short-term and me as a happy camper (literally).

    My last set of purchases were completed at a good exchange rate. I bought SLI.L, MRCH.L, and BBH.L. Both SLI and BBH have gained (well BBH is has grown 10% in 5 weeks) and all have gone ex. dividend. MRCH, even with dividend accounted is down about 2% so I am not really complaining. SLI is a Property REIT, MRCH is. boring old FTSE income trust that, at the time of purchase, had a 6% DY and no tobacco stocks. Unfortunately, the devils have just bought into Imperial Brands so I indend to sell out as soon as I have a reasonable exit point (tobacco is against my investing rules). BBH is a global healthcare trust that was trading at a discount when I bought and has gone very well.

    The overall portfolio is up with nothing showing any significant hits. I am selling some of my small cap specs (e.g. BOOT, SDY) as I will buy more of what I already have - the small caps can go into BlackRock’s Throgmorton which again, has been doing nicely.

    Methinks that this Investment Trust lark suits me quite well especially as I buy on the discounts and there are hundreds to choose from including plenty of on-line material to read and chunk through. I can also just walk away and leave it without too much stress.

    Now I must off, as I am finalising my 300km backpack hike in the UK...scored some BackCountry freezedried meals from Invercargill so I shall enjoy them from the side of my 1 person Hilleberg Akto tent whilst nursing my pained feet.

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