Occupation: Private Investor
Interests: Asian Markets, Bonds, Commodities, Derivatives, Economics, Emerging Markets, European Markets, Funds, Geopolitics, Gold, Hedge Funds, Interest Rates, International Stocks, Oil, Private Equity, Property, Stocks, US Market
I am a full-time private investor... with a little trading on the side (generally small-scale arbitrage in specialist niches).
Previously, I spent 24 years in the IT industry, 13 of those running my own IT services firm. I invested as a "hobby" for 20 years before turning it into a full-time occupation in 2004.
I really enjoy the "research" side of investing, finding out about varied businesses and industries and learning what makes them tick. Since going "full-time" I have learnt an awful lot from some very erudite investors & professionals who are kind enough to share their expertise in electronc forums such as this. I can now count a number of them as my friends, having had the opportunity to meet them in the real world, as well as this virtual one!
I try to pay back the debt I owe by sharing what I've learnt and I always value constructive criticism to correct my errors and misapprehensions!
I am a Director of ShareSoc, the UK organisation for individual shareholders. See below for details.
Value oriented - but taking account of growth. I always look for "cheap" stocks but adjust my definition of "cheap" to take account of conservative growth prospects. "Cheap" can also relate to asset value, as well as earnings/cashflow.
ShareSoc is a not-for-profit campaigning organisation, promoting individual share ownership, fighting for shareholder rights and providing educational resources to investors.
Web Address: http://www.sharesoc.org/
PO Box 62
I was flattered by the feedback I received at our last investor Masterclass, in July, so I'm pleased to be able to announce our next one. It starts at 5pm on the 4th November 2015, with registration and pre-event drinks served from 4:30 pm. The main part of the event finishes by 8pm. It will be held at the offices of IG Group in the…
The price of oil (and energy in general) is significant for all investors, not just those invested in oil companies, as energy costs are a key input to the economics of many businesses. Hence the recent sharp decline in prices will have widespread economic ramifications, not just the obvious impact it has already had on the share prices of businesses linked to the sector. A…
Greetings! I am preparing a course on behalf of ShareSoc, designed to help investors who are not very comfortable or familiar with the range of tools now available to them. Now, I appreciate that most readers here are already "web savvy" and this course will probably not be suitable for you. However, maybe you know someone who isn't quite "up to speed" and would welcome…
I have recently made a small investment in Ophir Energy (LON:OPHR) , thanks to @WShak1 alerting me to the price drop following the placing by early investors Och-Ziff and Mittal. As it turned out, this was shortly followed by a large rights issue, which I shall be happy to take up. Ophir has been on my radar for a while, as a highly successful explorer,…
Earlier this week, a very important article/study was reported on by Reuters, following on from the original press release from the University of Texas here. I have been sceptical that shale gas is the panacea it's been touted as. My concern was whether the CAPEX required for drilling and fracking was economically justifiable, given the rapid decline rate of shale wells. Whilst such wells produce…
There is an excellent article on the calculation of FCF and its significance where companies are investing to grow (which LVD is doing) here: http://www.sharescope.co.uk/philoakley_article54.jspNote the point that where there is investment CAPEX (as distinct from maintenance CAPEX) it's the ROCE on that CAPEX that counts (as discussed in post #14 above)Cheers,Mark
Hi Ramridge,It is true that Premier Oil (LON:PMO) would benefit from any meaningful rise - but, as I've pointed out, it is financially vulnerable in the event that prices don't rise - so a lot of risk to accompany the potential reward. My only direct oil company investment, at present is Ophir Energy (LON:OPHR) , which would also benefit strongly from rising oil and, more…
Hi Malcy, Thanks for another useful update on the "oil patch". Sadly few readers as, unsurprisingly, most are now terrified of the sector (which makes it worth watching in my eyes ;0)). You say, with respect to Nighthawk Energy (LON:HAWK) : "...and interestingly after my recent comments, have now only one broker name at the foot of the RNS, has the night of the long…
Interesting to note the outlook statement from Enteq Upstream (LON:NTQ) this morning (I don't hold).: "Oil price and North American rig count expected to remain depressed until at least Q4 2016"
Surely the problem with Premier Oil (LON:PMO) is the $2.3bn of net debt (now huge relative to market cap)? Whilst its hedges are running (and generating cashflows), superficially the debt looks manageable, but those hedges run out towards the end of 2016. If there is no significant oil price recovery between now and then, ISTM that Premier will face serious difficulties.Whilst I agree that management…