Registered:
3/05/11
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Location: London

Twitter: @canteatvalue

About Me:

Part-time private investor predominantly in micro-cap UK equities or anywhere I can find inefficiencies.

Investment Strategy
I trade... monthly
I tend to buy... after much research
I hold for... years
Diversification is ... a hedge for ignorance

I'll buy any security I can value by estimating the present value of the cash I can take out of it. This largely leads me in to situations that tend to fall under the monikers of value, deep value & GARP.




CantEatValue's Latest Blogs

I must admit I'm not really much of a pure Graham & Dodd guy. I've always thought that not considering the quality aspects of a business and looking purely for the cheapest valuation metrics is a bit like buying a car with a clapped out engine, no doors and only one wheel because "my god it's so cheap compared to book value!" and then being…

So as the markets close for the last time in 2013 I've totaled up my figures for this year in terms of investment performance as well as over my investment lifetime. All stocks are valued to bid prices, with dealing charges and stamp duty costs included (but before capital gains tax). As I am often adding to / withdrawing from my portfolio for various reasons…

There’s been a few mentions of CLIG on TMF before so I have to give credit to other write ups worth reading: Burgdorf’s, TMFFlaneur’s and TMFMayn’s but I’ll try and synthesise these all together, with my own comments.  CLIG are an asset manager focused on emerging markets (EMs). EMs have had a pretty rough time recently compared to developed markets and so are fairly out…

I've made quite a few changes in my portfolio recently so thought I'd better do an update to keep track of my thoughts. Here's my portfolio as it currently stands:   Here's a list of each of portfolio actions since my last update and an explanation:   Sold out of KENZ   I started top slicing KENZ as the price rose for portfolio balancing reasons, with sales at…

Sprue Aegis (OFEX:SPRP) are an ISDX listed company that are, in their own words, "one of Europe's leading home safety products suppliers and manufactures one of the world's smallest CO sensors for use in CO alarms." For those who aren't aware, ISDX is an even smaller version of the AIM market run by ICAP. This is indeed a company listed on a market most aren't…



CantEatValue's Latest Comments

Thanks Mayn, although I feel more lucky than skilled given the benchmark performance! Also, my 'lifetime' results only run from mid-2011 when I began investing my own money - I think more years (and different market environments) are needed to get a fairer picture of whether I'm adding any value. Indeed I still think CLIG, SEA and 3LEG are attractively priced so hopefully they will…

Whilst we're on the subject of macro economics I thought this video by Ray Dalio, the head of the famous hedge fund Bridgewater, was pretty illuminating: https://www.youtube.com/watch?v=PHe0bXAIuk0 There's also a white paper on Bridgewater's site which goes into more detail, but for a 'everything you ever wanted to know about macro economics in 30 minutes' sort of video I think it's very good. And if…

Yup http://www.investegate.co.uk/indigovision-group--ind-/rns/holding-s--in-company/200411221731575188F/

"I used to specialise in buying up shares in companies where the cash was actually greater than the market cap" What prompted you to turn off these 'deep value' shares? If it turns up the odd 30-bagger, surely it worked pretty well!

"So in this case I would be happy to ignore the net debt, since it's just needed to finance a big debtor book, and as long as you account for the interest cost in earnings, then it can fairly safely be ignored in my opinion." Technically one could have said the same about Albemarle & Bond Holdings (LON:ABM) 's debt - I guess the caveat…

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