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Thread: BeeBop does UK

  1. #21
    Senior Member Valuegrowth's Avatar
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    Beebop

    I really appreciate for your reply and Thanks.

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    Quote Originally Posted by MARKETWINNER View Post
    Beebop

    I really appreciate for your reply and Thanks.
    I am wondering if you purchased IHG - it has done quite well according to the news reports.

  3. #23
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    So an update on my thread:

    My UK portfolio is continuing to do well. As I sat in NZ over the winter, I "fiddled" with the mix, the end result was a slightly more concentrated folio as I sold my infrastructure share HICL and the bond holding putting the funds into more TRI.L and EMR.L. I also sold the KIE.L (infrastructure) but I decided to play a little game and use a different strategy for that money: here I put it into one of the Top 5 performing Investment Trusts (using a selection tool) and I will hold for either 3 or 6 months and then sell (if another one at the time overtakes it). Independent Investment Trust (IIT.L) was the one and it doing this I keep my trades going with at least one per 3 months (fees at the minimum point).

    So far so good and the performance of my UK folio has lifted from good to "gooder". Mind you, now with the NZD:GBP as less desirable so I want to fund UK costs out of the UK folio - the NZ folio is more conservative so I will just let that lot compound and sit untouched.

    If anyone had purchased UK funds pre election (say around 6 months ago) they would have been sitting fairly pretty on a theoretical return to NZD!

    MARKETWINNER - As much as I like IHG, I have recently discovered the Premier Inn chain...I can get nights at GBP29.90 connected to T4 and Heathrow Airport (nice rooms too), so am now looking at the owner - Whitbread (I think)....this may be a long-term pick for me once I have taken the time to look into their reports...although, staying in Holiday Inn when I am in New York as there is no Premier Inn there and Holiday Inn is pretty dang good. No more Accor chain for me again!

  4. #24
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    BeeBop-Thank you for the update.

    It is good to hear you are doing well. To tell the truth I was studying their market behaviour. Suddenly out of the blue moon I found a special situation in a frontier market. Some opportunity comes unexpectedly. We can reasonably expect further fall in overvalued NZD.
    Last edited by Valuegrowth; 22-10-2017 at 09:25 PM.

  5. #25
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    Quote Originally Posted by MARKETWINNER View Post
    BeeBop-Thank you for the update.

    It is good to hear you are doing well. To tell the truth I was studying their market behaviour. Suddenly out of the blue moon I found a special situation in a frontier market. Some opportunity comes unexpectedly. We can reasonably expect further fall in overvalued NZD.
    Is that you Winston ?

  6. #26
    Senior Member Valuegrowth's Avatar
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    You are wrong Pungus pudding. I didn’t follow politics much and not much interested about it. I have some idea about policies of both Labour and National. Because of election heat I got some idea about green as well. Suddenly MP WP came to my mind as he was tried to negotiate to form a government.

    Anyway I just now found the following link.

    https://www.interest.co.nz/news/9025...dollar-housing

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    So another update: all goes forth well. As eluded to in prior posts, I have been proceeding cautiously but it seems that the market does not. Currently, I am thankful that I concentrated my folio a little as the “concentrates” have just reported very well. TRI.L, SDY.L, and VOD.L have all reported today all all above expectations. The new investment trust (IIT.L) is doing what is should have and remains at the top of the performance board along with my MNKS.L investment trust.

    Shortly, I will have more funds to invest (capital input combined with dividends). The capital may be split between Whitbread group and/or an Asian/Pacific income delivering fund - I just need to do some homework to ensure that my current investment trusts do not have an overlap.

    Folio is up 6% since my August tweak.

    Really enjoying the energy of the UK market, plenty of news to read BUT I remain cautious and have increased my cash holding for our emergency plans.

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    Beebop continues on the UK listed equities run. To clarify though, these are trusts and shares listed on the LSE and purchased with GBP. I have not taken exchange rate gains into account (if I had, then the folio would be up quite a bit more). But as my GBP has been purchased for UK spending, exchange rate gains are irrelevant.


    As I am on “holiday” in the North Atlantic Ocean, I have decided to review the folio, read my investment sources, and dissect in detail. The net result is an adjustment. Previously I was becoming cautious and hoarding cash in a 0% GBP off-shore account but this was growing, as we save a bit too much, so I have decided to create two folios: the first is a conservative, wealth protection, income folio to pay for outlandish UK public school fees and the second is my growth folio (the interesting one).


    The conservative is high on cash but I have added the Lloyds shares to it and intend buying more as they pay a circa 6.5% dividend with considerable upside value available once the market sees their strength (as I hope they do once I have finished adding shares). I will also add a listed trust such as Ruffer (RICA) and/or Royal Dutch Shell. My aim here is to get exposure to the global markets via active management as my timeframe is three to five years. If I were looking to a much longer time horizon, I would go for a global tracker ETF but I am not looking looooong so active management and direct dividend paying shares should be okay.


    The second growth folio is essentially my main one and it continues to do very well. Rather than becoming predicative of the impending crash that I have been preparing for since 2013, I have decided to ride some momentum themes. Namely buying into Japan via the Bailley Gifford Shin Nippon (BGS) listed trust (I like Bailley Gifford because their Monks Trust has a good strategy and performance behind it so I think their management is great). My second new momentum play is also regional as I have entered Europe via Jupiter European Opportunites (JEO). Within their Top 10 holdings they have a few shares that I was looking to buy but decided that Jupiter would do a better job than me. Overall my winners are still winning (Trifast, Monks,), my absolute disaster is recovering (Bonmarche), and my income stocks are paying me enough to feed and grow the conservative portfolio. I also note that the folio is about 25% weighted in technology based equities (grouped as information technology, new healthcare technology, and robotics/automation). As for older technology, my Trifast holding represents about 12% of the folio and it is literally boring old nuts and bolts with an exquisite logistics system and has now doubled in value. I like this folio very much.


    If there is a crash, I will be hit hard in the growth folio but this won’t really affect much else (enough other assets spread around other places include properties) and I will still be able to cover school fees. But I can assure you, I will be upset, very very upset because I don’t like loosing very much.


  9. #29
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    Beebop - which broker do you use to buy your UK shares?

  10. #30
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    Quote Originally Posted by morphs View Post
    Beebop - which broker do you use to buy your UK shares?
    Sorry for the slow response - ship internet is far too slow to use easily.

    I have used www.internaxx.lu for the past 15 years and have been happy - they are based out of Luxembourg. A hassle to set-up but worth the security.

  11. #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 09:03 PM.

  12. #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!

  13. #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

  14. #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).

  15. #35
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    BeeBop

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

    Cheers

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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.

  17. #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.

  18. #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.

  19. #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 03:09 PM.

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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.

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