Real Name: Graham Neary
Occupation: Fund Manager, Newsletter Writer, Private Investor
Location: London, UK
Full-time investor and independent analyst. Prior to this, I spent seven years in the financial markets as an analyst and institutional fund manager. I'm CFA-qualified and hold an audited, FTSE-beating investment track record.
Outside of finance, my main interests are recreational poker and everything to do with China. I can both speak and write intermediate-level Mandarin Chinese.
Good morning!I'm holding the fort here today as Paul is traveling.Cheers,GrahamRobinson (LON:RBN)Share price: 115p (-14%)No. shares: 17.7mMarket cap: £20mFinal ResultsA significantly weaker result (pre-exceptionals) had been well-flagged - Paul discussed the trading statement here in January.Revenue fell by 7% to £27.5 million and operating profit almost halved to £1.4 million, thanks both to a lower gross margin and higher costs.Perhaps the shares are down by…
GYM (LON:GYM)Share price: 173p (-6.5%)No. shares: 128.2mMarket cap: £222mCompletion of Placing(I have a long position in GYM.)It was helpfully pointed out in the comments last night (by rhomboid1) that two private equity backers of The Gym intended to sell down the rest of their stakes.It's a large placing for 30.5% of the company and has now been completed at 175p, about a 5% discount to…
Manx Telecom (LON:MANX)Share price: 196.5p (+0.5%) No. shares: 113mMarket cap: £222mFinal ResultsFairly stable results at Manx, the main broadband/communications company on the Isle of Man. Revenue up 1.5%, £80.8 million.Underlying EBITDA flat at £27.7 million.Underlying PBT flat at £16.3 million (reported PBT £8.8 million).The profit result is flat on an underlying basis, but on a reported basis, quite a few elements have hit the result: …
GYM (LON:GYM)Share price: 183.9p (+2%) No. shares: 128mMarket cap: £236mFull Year Results(Edit: Please note that after initially publishing this note, I bought some shares in GYM. I now have a long position in this company).Nice progress at The Gym, with the growth strategy being executed as planned.To quickly summarise what it's doing: The Gym is pioneering the low-cost gym model with 24 hour opening times,…
Morning,I am likely just to cover H & T (LON:HAT) today. Without further ado:H & T (LON:HAT)Share price: 270.75p (-0.6%) No. shares: 37mMarket cap: £100mFinal Results(Please note that I currently have a long position in H & T (LON:HAT).)This remains my largest holding (25% of my portfolio - I do not recommend that others run such a concentrated portfolio as this).I am pretty happy with…
Thanks for the suggestions... Francis Dwan - that's the second request I've received on CPP so am looking at it now. InvestedGeordie - that also looks like one I should cover, cheers PVCS and SCT - if I can. Regards Graham
Hi Andy. It varies, historically I've nearly always held less than 10 and often around 6-7, but I'm probably going to start diversifying now with a few more 1%-2% positions where I have less conviction but still want to be involved. I think what matters most is the size of the biggest, high-conviction positions. Regards Graham
Hi Roly. I presume the full year results, changing broker forecasts and share price all contributed. Cheers Graham
Many thanks for your insight, bestace Cheers
Nice one ram. My position is small for now but I may add to it as the thesis develops. Those numbers sound correct to me.