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... a few times per year
I tend to buy... according to my system
I hold for... years
Diversification is ... essential to reduce risk
Value and income focused, I run two portfolios: very long-term big cap income holdings and a pure value portfolio run along classic contrarian lines -- companies I believe are good business going cheap due to temporary factors.

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

I decided last week to follow Jim Slater’s example and relax my valuation criteria slightly. This left me with a choice of five stocks to consider adding to the SIF Portfolio this week. If you missed last week’s article, I’m experimenting with reducing the minimum earnings yield of my SIF screen from 8% to 6% and increasing the maximum rolling PEG ratio to 1.3. No…

One of the comments on my article last week made me reconsider the merits of relaxing the screen during bull markets. Apparently this is something the late Jim Slater was known to do: I really appreciate all of your comments each week. They always force me to double-check my arguments, which is invaluable. John’s comment aligned with my own thinking that it might make sense…

The criteria I’ve used for my Stock in Focus screen fall into two categories. A small number are essential characteristics which characterise the majority of stocks in the portfolio. The remainder are safeguards to avoid ‘outliers’ carrying specific risks. This week I’m going to highlight some of these key criteria and explain how they work against each other to restrict my choice of stock. Would…

My Stock in Focus screen is throwing up slim pickings at the moment. All five of the qualifying shares at the time of writing are already in the portfolio. I’m hoping for more choices next week. As this will be the last SIF portfolio article published in January, this week’s focus will be the portfolio’s monthly review. There are four stocks up for review this…

My decision last week to venture into the Russian stock market triggered quite a lot of debate. You can check out that article here if you missed it.It’s too early to say how things will turn out with last week’s stock, RusHydro. But what I can tell you about is the impact some of my previous decisions have had on returns from the Stock in…



Roland Head's Latest Comments

Hi Jim, Thanks for flagging this up. I've not had this problem, so I don't know if it's just a quirk of the way Sirius Real Estate (LON:SRE) has been classified in HL's system. I was able to get a quote to buy online from my broker earlier today, without any apparent restrictions. I don't remember ever filling out a waiver letter in the past,…

Hi Gus, I agree that Sirius Real Estate (LON:SRE) looks overbought in the short term. But over six months or more, and with subsequent newsflow, I don't think it's a major consideration. At least, I hope not! The other point is that I don't try to time entry points for the SIF portfolio based purely on technical factors. That's not to say they aren't relevant,…

Indeed, I'd really like to have kept Go-Ahead (LON:GOG) in the portfolio. Although I have to beware of the temptation to change the rules to suit my own stock choices. That's not the point at all!

Hi Si, Thanks for your comment -- by all means play with the screen, I'm sure it can be improved on!. The RS rule has been frustrating at times over the last year, especially after the referendum when it prevented me adding a number of credible stocks to the portfolio (because their share prices had slumped). A shorter RS period is one of the items…

Thanks for the suggestion John! Intuitively it seems more attractive to relax on value than quality. We'll have to see whether the results back up this approach... Roland

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