Registered:
28/01/13
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Real Name: Roland Head

Occupation: Blogger, Entrepreneur, Journalist, Private Investor

Interests: Bonds, Commodities, Economics, Emerging Markets, Gold, Interest Rates, Oil, Property, Stocks, US Market

Location: United Kingdom

Twitter: rolandhead

Fantasy Fund: Stock in Focus portfolio

About Me:

Private investor & writer on stock markets with a particular fondness for free cash flow, dividends and value, plus an interest in resource stocks.

In earlier life, I worked as an engineer in telecoms and IT. The quantitative, rule-based mindset required for this type of work is probably reflected in my investment style. 

Another factor that affects my investment choices is my experience working for a large telecoms company at the turn of the century, when tech stocks were booming. Watching this bubble inflate and then implode from the inside was very educational.


Investment Strategy
I trade... monthly
I tend to buy... according to my system
I hold for... years
Diversification is ... essential to reduce risk

I run two portfolios: the first is a fairly traditional mixed-cap value portfolio with a bias towards income stocks and contrarian picks. I look for asset plays and good businesses going cheap due to short-term pressures.

My second portfolio is the Stock in Focus Portfolio (SIF), which I run as a Stockopedia Fantasy Fund. I write a weekly column about this portfolio for Stockopedia.


Blog

Freelance financial writer, offering news, investment and opinion articles covering primarily UK stocks. Particular interests are dividend and value investing, plus the oil and gas industry. I have the CFA UK Investment Management Certificate (IMC).

Web Address: http://www.rolandhead.com

Address: North Yorkshire
UNITED KINGDOM

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Roland Head's Latest Blogs

Two weeks ago, I decided to hold back from adding more cyclical stocks into the SIF Portfolio. My hope was that a defensive stock would become available in my screen results. This would allow me to reduce the portfolio’s long-running imbalance between cyclical and defensive stocks. I’m pleased to say that’s what has happened this week. AIM-listed Alliance Pharma has been propelled into the Stock…

This week I’m going to take a look at news from SIF portfolio stock Redrow, as well as the wider housing sector. After a week of insider selling, is the tide about to change? But before I delve into the murky world of UK housing, I’d like to flag up a ShareSoc investor seminar in Leeds next week, at 5.30pm on 19 September. This event…

Neil Woodford will probably be hoping that the recent collapse of Provident Financial will mark the end of a bad run for his funds. For the sake of his investors, I hope there's no more bad news on the horizon. But much as I respect Mr Woodford's track record, I fear that storm clouds could be gathering. The company I'd like to look at today…

I’ve been struggling with diversification this week. The SIF portfolio is now reasonably diversified, but is running short of cash. There’s not really any compelling reason to add more stocks without selling some first. But there are a few companies in my screen results I could add if I wanted to. The problem is that a rules-based portfolio isn’t about doing what you want. The…

How often do shares of a FTSE 100 company fall by 68% in one day? Thankfully, not very often. But when subprime lender Provident Financial issued a major profit warning on Tuesday, cancelled its dividend and warned investors of a FCA investigation, the shares crashed. The good news is that investors with balanced, diversified portfolios shouldn’t have suffered too much. A 70% loss on a…



Roland Head's Latest Comments

Hi fishmonkey,Thanks for your comment. It's interesting to hear views on Alliance Pharma (LON:APH) from people who actually prescribe its products. The flipside of 'niche' is 'limited growth', clearly that's a risk here. I suppose that explains the company's long-running focus on growth through acquisitions -- organic growth potential may be limited.Having said that, the company does seem to have a few branded products with…

Hi finebone, Thanks for pointing this out. Although it's been a week since the Alliance Pharma (LON:APH) interims were published, it often takes longer for new broker estimates to feed through for smaller stocks. That might be the reason for the drop. I'm still comfortable with adding the stock to the SIF portfolio, though. Regards, Roland

Hi finebone, Thanks for flagging this up. With metrics such as the the Earnings Manipulation Risk, I think it's always worth digging down to see what's causing the low/high score. In this case, there are three factors on which the M-Score test is failing: - Is sales growth excessive? - Is the rate of depreciation stable or increasing? - Are sales, general and administrative expenses…

Hi Tony, That's interesting to know, I haven't seen this in my local area yet. Thanks for pointing this out. Regards, Roland

Hi Herbie, Fair point, but what I meant was that shareholder equity/value would be a lot safer without that debt burden hanging over it. Debt free, I don't think Countrywide (LON:CWD) would face any kind of existential threat, even in a recession. Roland

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