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Investment Strategy
I trade... weekly
I tend to buy... after much research
Diversification is ... essential to reduce risk
I know what I don't like: incompetent management - my maternal grandfather taught me that along with a few other things including: Don't buy the funds: buy the Fund Managers! Acquisitions usually destroy shareholder value - mergers are even worse. Don't gamble: buy the companies that cater to those who do. Don't borrow money: buy the companies that lend to those who do. Avoid: low margin businesses. Never forget: leverage works against you on the downside. I try to avoid overpaying, the P/E ratio is important, anything over 20 is speculative in my opinion. My income is now the "natural" yield from my investments so I have some American "junk bond" funds - which do not necessarily have the risk profile you might expect. Patience has proven to be my ally, procrastination my enemy.

Bonitabeach's Latest Blogs

The half-year results statement Sports Direct - Half Year Results was poorly received by the market. I still think the problems inherent in this company are underestimated and the company is uninvestable for the private individual. I could find little positive in the results other than the rise in group revenue on a currency neutral basis and excluding the Heatons acquisition of 4.2%. This is…

Sports Direct looks a tempting buy on a lot of metrics, trading 43% below its 200 day moving average, a forward PE of 8.2, minimal net debt and yet something doesn't smell right about this business and I am not talking about Mike Ashley.The phrase that didn't sit right with me from the preliminary results announcement was "continued investment in inventory". Isn't inventory something you…

Today the Board of   TESCO PLC   announced their decision to appoint Dave Lewis as chief executive had been, in their judgement, a resounding success and Mr Lewis has been suitably rewarded. Base salary rises from £570,000 to £1,250,000, pension contribution up from £130,000 to £313,000, and a £3,000,000 bonus for being Dave, not Phil. IndependentMeanwhile, back on planet Earth:xThe share price closed at 225p on…

Telit Communications TCM has drpped heavily again today - the market seems very nervous about this once favoured stock despite being bombarded with good news stories. I lost enough on GLOBO, where I was a nervous holder but was comforted by whay I hade made on Telit when it was at £3.50.I did quite a bit of comparison between GLOBO and Telit and held on…

Monday brings the half year results for Globo (LON:GBO) and we may expect the usual expressions of "fool's gold" or "diamond in the rough". Only time will tell, but meanwhile it is interesting to view the different expectations allocated to Globo and one of its most comparable competitors: MobileIron Inc (MOBL). MobileIron Inc Software & IT Services Globo Software & IT Services  Market Cap £M…

Bonitabeach's Latest Comments

Dear Ed,Terry Smith is very right and also very wrong.The investor in NEXT who purchased shares in say August 2015 is likely to end up as an extremely long term investor indeed; just to see his money back.Compared to the investor who purchased in 2011 "investment performance" could not be more different.Can you overpay for a "good" business?  Yes you can.Bonitabeach 

An iconoclastic view of Warren Buffett:-He has spent his career maximising the return to capital of the companies he has invested in at the expense of the employees working there. Behind the warm and cuddly facade is an utterly ruthless man in the pursuit of only one thing, money - and he doesn't care about the little people who get crushed along the way. He…

Be careful what you wish for - he may just have made for the exit with his payoff before the administrators walk in.BonitabeachNo position.

Of beards and other vanities: position.

Give the man a break Woodcutter. We all know why Paul tells us it's not a tip sheet - and it's not because he thinks were stupid.Paul's daily report is a good catalyst for discussion and disagreement at times, this board would be a lot poorer without it.Paul has said in the past that you need a thick skin to do his job - very…

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