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Thread: BeeBop does UK

  1. #1
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    Default BeeBop does UK

    Percy had suggested I start a thread on the UK market.


    The UK has most of my sharemarket time at the moment. We do not have to consider tax implications as we live in the M.E, however, we have invested in the UK market for many many years, a good portion from when we were in our home country (NZ). I work via growing a portfolio and then "banking" some profits over a certain level back into my NZ property mortgages at favourable exchange rates (mostly).


    Tips and ideas come from three main sources: iii dot co dot uk and its front page, Investor's Chronicle (podcasts, free reading and sometimes I buy their weekly e-magazine for coffee time reading), fool dot co dot uk plus many other links (FT dot come, Questor and some dubious sources. All buying and selling are through TD Waterhouse international (think they are being or have been bought by interactive investor). I only buy and sell once or maybe twice per quarter (to manage fees).


    I use UK dot advfn dot com to get a lot of my first screen data and see the bulletin boards (iPad app is the best way for me as the site is not user friendly). For subsequent screens, as always, I go to the company financials.


    Currently I have one disaster (BON) and one high flyer (TRI) plus around eight other holds. My historical straight-lined return p.a. is 18%. Current holding return for this calendar year is zero as BON.L has successfully and gradually eaten my gains. However, as I am not wanting to realise this loss and I think there will be a recovery, I am going to stubbornly hold on (paying a 4% yield on my purchase price and around an 8% yield on current value), if you want to take a risk on 50+ women’s retail, it may be worth looking at (80p now).


    My requirements are for (generally): a low debt level, must pay a dividend of at least 2% (targeting 5%), a "regular" company (i.e. One that fits my metrics and I can get my brain around), price to sales less than 1.0, and a depressed PE ratio. Of course the usual quick and current ratio screens apply. If these metrics fit, I then apply the old CCVI and look for a level of above 15 (I like 25). CCVI = ((eps + dps)/ $sp)+((eps-dps)/$NTA or $BV).


    Rather that go through historical reasons for buying etc, I shall merely put down my most recent purchase and the shares I am currently considering.


    MANX.L : this is MANX Telecom and is domiciled in the Isle of Mann. It is held by a few high performing equity funds (James UK Equity Income Fund) and I like the Isle of Mann! First look on 3/11/16. PE = 13 and DY5.2%, CCVI = 17 (on the low side) and P:S up at 3.0 (too high for my liking) ROCE 10.3%. BUT they are new, were down from high when I bought, conservative with some really really good future plans. I dumped in my profits from UDG healthcare (ran from GBP4.60 up to GBP6.95 then sold as I had a bit too much overall in healthcare to turn this into a longer-term hold). I only bought a small value parcel (GBP4K) as it is on the AIM so my buy and sell fees are so much less and this cost me GBP16 to buy).


    A day prior to purchasing MANX.L, I did buy into KIE which was a much larger holding as it met most of my metrics (CCVI =30, low debt and higher ROCE), I also liked their plans (was rewarded walking around Canary Wharf on holiday at Xmas to see their name emblazoned on some “works”).


    I don’t have any more spare funds to invest until the end of February so I am researching: PhotoMe, a potential re-entry into AMS (a medical wound care company that I was in a couple of years ago 75p up to 1.35 and sold), ALU (but debt is too high but it has done a recent run), and packaging company MNDI.


    So this is merely my activity and it keeps me busy: I have time on my hands to wait for recoveries but I am also taking a bit of a cautious approach (balancing a tad) as I want to be able to buy a house to live in in the UK if all goes belly-up here (means I don’t need to sell NZ property and shares).

  2. #2
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    Paul Scott's value blog is a great resource for small caps
    http://www.stockopedia.com/contributors/paul-scott/
    No advice here. Just banter. DYOR

  3. #3
    percy
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    BeeBop.
    Thank you for starting this thread.
    The links you and Noodles have given should be very interesting.

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    Percy, my pleasure.
    I would also suggest having a quick look at The Naked Trader. He has a blog/website and shows his trades. Of course, he follows the "fashion" of small cap stocks which is not quite my approach, however, his works for him and would be worth checking in on.
    I now need some "fresh" cash - have to wait a while (and watch all of the identified opportunities pass me by).

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    Following the disappointing financial update from Unilever today (UK time), I think I will be putting them on my consideration list....will just have to check and see that they are not in my dividend paying ETF (IUKD.L). It could be a good time to start looking into them.

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    My recent purchase of Manx Telecom is going nowhere, but at least not going down. However, Monks Investment Trust (MNKS.L) is going gangbusters! Currently I am doing homework into Staffline STAF.L, the metrics look great but I am not finding a lot out about their forward strategy so I am spending a bit more time in reviewing them. Also, I am going to reduce the amount of free cash I put into the market as I am becoming more cautious.

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    BeeBop has purchased again. Luckily timing was good as I had USD equivalent and bought my GBP the day before the Trump Dump. Purchased three lots: EMR.L (AIM HR outsourcing company) as they have global exposure, good income and across several recruitment areas. I had been intending to buy STAF.L but I didn't like their website (go figure!) and they seemed very UK focused. Got some LLOY.L as it is still low and although I am a wee bit cautious about banks, this one looks fairly sound and should have some recovery available in the share price. Finally I got some Jupiter India units as I have nothing in emerging markets at the moment. Overall the UK portfolio is good and I probably need to decide if I am going to continue to sit on my BON.L shares where I have made a hearty loss (or, do I continue to hold as maybe maybe maybe)..... Now I have a total of 20 shares/fund holdings across the US, UK and NZ.

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    Any potential upside for following two?

    EasyJet plc(LON:EZJ)
    Greggs PLC (LON:GRG)

    I found interesting link on the latter.

    http://breakingfinancenews.com/inves...-00gbx/215192/

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    Quote Originally Posted by MARKETWINNER View Post
    Any potential upside for following two?

    EasyJet plc(LON:EZJ)
    Greggs PLC (LON:GRG)

    I found interesting link on the latter.

    http://breakingfinancenews.com/inves...-00gbx/215192/
    For me Greggs seems like a sound long-term hold. Most of its metrics are ok by me but I think their price is a bit high compared to their sales and I suspect their cost base is a tad high. Thought about getting into them in 2013 when I sold a lot of high gainers - bah humbug, I didn't! I think they will be a long term hold rather than a short-term gain. Plenty of competition in the area now e.g. EAT (not sure what the ticker is for that one).

    As for EZJ, I was burnt a tiny bit on American Airlines AAL.US so other than having shares in AIR.NZ, I stay away. That said, their metrics without digging are good (but airlines seem to always be low PE etc), and if you took a good look into their future plans possibly they could be in for some better times (although lots of low cost competition now).

    A punt worth homeworking could be Sainsbury's...it you are looking for a well run main board stock - I have been in and out of it three times and would go in again if I had the free cash but I need to wait until my next quarter.

    A good website for a quick screen is: http://uk.advfn.com/p.php?pid=financials&symbol=L%5EEZJ

    If I had a huge portfolio, I would consider holding GRG (because I like them) but wouldn't hold EZJ (because I am nervous of airlines metrics and market pressures) - I don't mind missing big rises but I hate getting in on big falls.

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    Thanks BeeBop for your useful information. Royal Mail PLC (RMG), Anglo American plc (AAL) and McCarthy & Stone PLC (MCS) also may have some opportunity. In an over valued market only great bargains can have some opportunity.

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    BeeBop is in the UK at the moment for an Easter break.....had a good look at a few Sainsbury mega shops and wasn't impressed....certainly buzzing but didn't have the brands I was looking for, seemed "cheap" and messy. Think I will steer clear of these shares. Followed my gut with Pumpkin Patch and its global stores....burnt myself with Bonmarche by not going in to see them, so now that I have been bitten, I will not enter the supermarket game with my own handpicked stocks - leave that to any potential funds I buy into.

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    Their property and stock markets are not listening to Brexit. Pound also should begin its uptrend next.

    http://www.bbc.com/news/business-39691366

    FTSE 100 up 2% as European stocks rally after French vote

    http://www.independent.co.uk/news/bu...-a7698721.html

    UK house asking prices hit record average high of £313,000 as property market recovers from Brexit blip

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    BeeBop's UK portfolio has been growing at a rather unsettling fast rate; rather unnerving. As a result, I have taken a tad more of a conservative approach and decided to trust myself a little less. These days I am not paying down my remaining property mortgages as my debt is down to 29% of the total value, so apart from dealing with the odd maintenance issues via the PMs, it is hands-off and forgotten. This means, the share portfolio doesn't get sold down when it gets higher, hence, my new, and previously avoided, leaning to actively managed funds. Around three weeks ago I sold off my IUKD.L EFT (an ETF UK dividend focused). The TOTAL return on it over two years was around 20% so I was happy enough to sell and put funds into a higher growth folio. I have just upped my investment in MONKS Investment Trust (MNKS) and kind of bought into a slightly overlapping global focus fund (also has Apple and Alphabet in it) by Fidelity Funds (Fidelity Funds Global Focus). My Jupiter India is also doing well.

    I think BeeBop needs a winter in New Zealand to quietly consider the next individual share purchase. The market heat is matching the heat out of doors and my brain in frying....deep breath...step back and monitor, maybe the cash will not grow but if things turn down, I can buy some more select stocks at that point. BeeBop has never liked soaring markets, BeeBop usually sells.

    As for the GBP, just got my GBP bought before the last upward hike!

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    As usual, BeeBop doesn't like to stay still. Clearly, I am fearful of the rapid speed of the market but don't want to sit out (well not totally).

    Last week I sold my smallest holding, CCL.L, of Carnival shares (we enjoy the Cunard cruise line so purchased shares a while ago). My total gain was 39% (or 27% annualised) and there was still growth available BUT I had not purchased the full 100 shares required for cruise shareholder benefits - silly me - so rather than purchase the full amount, I sold what I did have. Monies were all put into another AIM listed share that seems to be a turnaround opportunity Speedy Hire (SDY.L). I haven't purchased a turnaround since the early noughties (on the ASX), so this will be interesting.

    On my recent purchases, overall the portfolio is looking good. EMR is up 35% and MNKS is up 25%, KIE is down 9.9% and BBOX is up 12%. My others are all up between 3 and 8%. I look hard at stocks that are down (e.g. My Bonmarche remains a sad wee puppy at -50% but I have the time and its losses have been covered by the total portfolio). KIE has cycled and again its fundamentals are good.

    On Thursday, I sold my AIR.NZ shares he he he.....a nice wee pay day that was....I am slowly getting out of individual holds in NZ. I need to decide whether to put it into the remaining flexiloan, send it to the UK, or put it into my NZ Milford Assest Management account (yield above that of my Flexi) or look for something else on the NZX.

  15. #15
    percy
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    BeeBop.
    Thank you for sharing your interesting investing.
    I thought I would have had more time on my hands this year,which I had intended using looking at the UK market.
    Unfortunately I haven't found it,yet.!.

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    Quote Originally Posted by percy View Post
    BeeBop.
    Thank you for sharing your interesting investing.
    I thought I would have had more time on my hands this year,which I had intended using looking at the UK market.
    Unfortunately I haven't found it,yet.!.
    Percy
    Many thanks for your thanks...it does take time especially if you are just entering into it so wise to stay out until you have that most precious (and highly depreciating) of commodities.

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    BeeBop has been thankful for "my" chosen approach as the portfolio has been stable through the UK election. KIE has been down a bit but MNKS is up...everything else has tread water.

    For my NZ portfolio, I shall wait for my IFT dividend to come in, sell my CEN (as it is already part of one of my managed funds) and slug the lot into my balanced MAM fund....again, caution for the time being, and I really can't find anything exciting to invest in within the NZ market.

    Note: I am not transferring monies from NZD to GBP (even though it makes paper sense) as I do want to have plenty of spare readies for property and shares in NZ should something tickle my fancy during the winter.

    BeeBop is also thankful for emergency planning and has called on it now due to certain diplomatic rows and hurried flight rebookings. Current plans are to spend a bitter winter in southern NZ, hopefully the sandpit fights will have settled by the end of August Again, BeeBop is thankful that no new properties were added to the greater portfolio and current rents coming lead to a worry free holiday in the frost - along with a wee sojourne to the Pacific Islands, midwinter, to warm up a little bit.

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    BeeBop is freezing in NZ.

    The UK portfolio seems to be stable with no significant growth since mid-June but the divvies are coming in so I am happy with that. As for the NZ portfolio, I am kicking myself that I sold my AIR.NZ at $3.00 - I always sell too early! But due to the cold weather, and a desire to improve cashflow, I am considering a property sale: this would somewhat increase my portfolio management activities - exchange rates are favourable! My big question to self is: should I pay the exorbitant fees charged by the wealth management companies in NZ, or, manage myself, or split the difference (leave some in NZ wealth management and take the rest to invest off-shore myself) and swallow the fee (I value every single individual dollar). I seem to have been spoilt with my int.TDwaterhouse fees (now bought out again and back to its original www.internaxx.lu).

    Currently, I have no plans for UK share purchases in the near term and remain happy with my MNKS.L and Jupiter India purchases - these two are my wee shining stars at this point.

  19. #19
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    BeeBop

    What do you think about top performing stocks such as Easyjet (LON: EZJ), International Consolidated Airlns Grp SA (LON: IAG),InterContinental Hotels Group PLC(LON:IHG). Will they perform well in the second half of this year as well? Thanks.

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    Marketwinner

    Hmmmm, of course I can not answer your questions about future performance. However, in my reading I have heard positives about EZJ....and the very top line fundamentals have a lowish PE (albeit a tad high for airlines globally) and a good yield of around 3.8% (which I like) there has also been some good commentary. As for IHG, I know very little about the fundamentals (but it has a 1.8% yield), having stayed in the Holiday Inn chains recently and been very impressed, I put them onto my radar but felt they were fairly valued.....net results, I was wrong and they continued tracking upwards. I have no idea about IAG.

    I am currently considering shares in the following article which can be found on iii.co.uk - I have just copied the title for you.
    10 'crisis-proof' shares to buy and hold forever


    By Kyle Caldwell (Money Observer) | Thu, 13th July 2017 - 09:34



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