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24/12/16
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Charlie Munger often uses the phrase "invert, always invert", to emphasise a thorough appraisal. If Clipper Logistics can buy an aligned business for a multiple of 4x, maybe this shines a light on the appropriate valuation for companies exposed to the business of contract logistics. Maybe 4x IS cheap. Perhaps the 10x p/e of Wincanton is more appropriate. But the 27x earnings rating for Clipper…

Risk ratings tell you about the past, nothing more. RBG had a profit warning on Friday. It's share price has fallen by more than 40% - it's risk rating has risen from low to speculative. So, here's the question: is the share price today riskier than it was a week ago? Possibly, if the fundamentals deteriorate. Otherwise not, imo.

To win the game, you sometimes just need to spot the weakness of the opponent.For private investors, the opponents are the institutions who, because they hold 90% of the shares in most companies, tend to set the share prices of most companies.The institutions most obvious weakness is clear. Short-termism. This is a result of them being judged on monthly &/or quarterly performance. So if you…

If you hover your cursor over 'Folios' at the top of the screen, you can select 'Set stock alerts'From there you just input the name of the stocks you are interested in and in the drop-down 'Alert me when' select '%vs.52w High' and input <90% if you are focussed on a 10% drop.

The FTSE add/delete stocks according to market cap, adjusted for free-float. So in terms of screening on Stockopedia, you just need to multiply these two criteria & then sort large to small to see where in the stock in question sits.FTSE 100 and FTSE 250:A security will be inserted at the periodic review if it rises above the position stated below:FTSE 100 - Risen to…



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