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Registered:
14/12/10
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Real Name: Mark Carter

Occupation: Private Investor

Interests: Asian Markets, Funds, Stocks

Location: Scotland

Twitter: mcturra2000

Fantasy Fund: Magic Hat

About Me:

I am a private investor living in Scotland. I am a computer programmer by trade.


Investment Strategy
I trade... monthly
I tend to buy... according to my system
I hold for... a year
Diversification is ... important, but not beyond 10 positions

I tend to follow the guiding principles of Ben Graham, although since 2011, I am becoming increasingly interested in GARP stocks.


Blog

Investment blog of an amateur private investor. The blog also contains non-investment related posts.

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Mark Carter's Latest Blogs

I found this interesting PDF (http://is.gd/D93PHD[1]) about Buffett’s purchase of Coca Cola from The Odd Lot blog (http://is.gd/6jGWEc[2]).The idea is disarmingly simple: you want at least a 10% earnings yield (not actually defined by Buffett, but the reasonable presumption is EBIT/EV), AND you want to convince yourself that that the “coupon” will grow. The sustainability of the coupon will likely depend on a few key…

I’ve seen Polo Resources (LON:POL) mentioned on the Motley Fool in Pauly Pilot’s Pub. The simple value case is: shares 11.25p, NAV 31p, net cash 8p.It prompted me to do a search on Stockopedia for low P/B stocks strictly between the range 0 to 1. The thing that pops out at me are the number of banks and miners on the list. Parenthetically, MRW (Morrisons)…

Imperial Tobacco (LON:IMT) get ejected from my fantasy fund over on Stockopedia today. The portfolio is an attempt to see if I can beat the Greenblatt Magic Formula screen. There is some way to go before I fill up the portfolio with Magic Formula stocks, so it is too early to see how I am doing. So far, at any rate, machine is beating man.…

ASOS (LON:ASC) released its trading statement for the 3 months ended 31 May 2014 (http://is.gd/zIkEhJ). Group revenues were up 34% on a constant exchange basis. This is excellent, of course, but the company reduced its EBIT margin guidance to c.4.5% from c.6.5%. This factor seems to have sent the share price into a tailspin – down 31% at the time of writing. Readers may recall…

I often call SuperGroup (LON:SGP) the worst sell I ever made. I had sold on 16 July 2013 at 942p, only to watch the share price climb much higher. A few days ago, I got an alert that the shares were down 20% from their 52w high. So I thought it would be interesting to revisit the shares. My reasons for selling at the time…



Mark Carter's Latest Comments

Tesco has a QV rank of 98 (but a Magic Formula Score B-), making it "good and cheap". Some people are criticising the incoming CEO's lack of prior experience, but these things can cut both ways. They can often bring an "outsider's view". Look at what Harriet Green did for Thomas Cook, for example. Although she said "I don't know the travel industry well", she…

An interesting subject, because I've been boning up on Bayes' Theorem recently. My conclusion so far is that it's interesting, but it is going to be difficult to apply.One problem is that Taleb seems to be doing his best to undermine the use of statistics in finance. His basic argument is that the presence of fat tails can lead to his famous "black swan events"…

Ask yourself this question: "what do believe is priced in?". "If it ain't broke, don't buy it" -- Bruce Greenwald.

I've changed my mind. I think Buffett uses equity rather than firm valuations, so I should be using pretax earnings to market cap. In this case the earnings yield is 2259/23050 = 9.8%. So it is slightly below the 10% buy point. Alice Shroeder says that Buffett tends not to "project", but I think a decision would need to be down to whether or not…

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