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://https://www.rolandhead.com

Address: North Yorkshire
UNITED KINGDOM

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Roland Head's Latest Blogs

Last week’s biggest investing sensation was probably the profit warning from Revolution Bars Group. The bar operator’s share price has fallen by about 40% over the last five days, and is now trading at an all-time low of about 120p. The Stock in Focus portfolio appears to have narrowly dodged a bullet with this share. Revolution Bars came close to qualifying for my screen on…

The Stock in Focus (SIF) portfolio fantasy fund isn’t a vehicle for special situation investing or arbitrage opportunities. As regular readers will know, my stock selections are governed by the results of the SIF screen and some simple rules for diversification. But this doesn’t mean there isn’t room for me to select stocks for the portfolio based on my perception of future opportunity. As long…

Big cap mining stocks have been among the biggest fallers in the FTSE 350 so far this year. That’s not entirely surprising after last year’s gains, which saw the value of FTSE 100 giants Rio Tinto and BHP Billiton double in twelve months. Smaller companies delivered even bigger gains. Some reaction was always likely, especially as the first part of the year has also seen…

One of the lessons I learned last year was that when I exercised my discretion and rejected a stock from my screen results, my SIF portfolio fantasy fund usually lost money as a result. I intend to take a more mechanical approach to buying highly-ranked stocks from my screen this year. But what about low-ranked stocks? Should I be more critical of these, because they…

I’ve not yet bought the same stock twice for the SIF portfolio, but in this rules-based scenario there’s no reason not to. A number of stocks have popped in and out of my stock screen over the last year, and it’s just happened again. FTSE 100 defence group BAE Systems joined the portfolio in June 2016. It was sold for a total return of 23%…



Roland Head's Latest Comments

Zoiberg, Time will tell, you could well be right! Although I think it's interesting how broker forecasts do not seem to have been tracking the price of iron ore lower. Will earnings prove more resilient than expected? I'm going to suspend judgement until Rio Tinto (LON:RIO) H1 results are published in August. Regards, Roland

Re. Just Eat (LON:JE.) I think it's worth noting that one reason revenue outstripped order growth in Q1 is last year's commission increases: Q1 update: "On a currency neutral, like for like basis, revenues grew by 40%, driven by strong order growth, last year's commission increases, including the UK, and the inclusion of SkipTheDishes." FY2016 results: "Group average revenues per order ("ARPO") increased by 10…

Hi herbie, Sorry for the slow reply. Re, outperformance, with a small number of stocks versus the market, I suppose gains (or losses) are likely to be lumpy. That seems to be how the portfolio has progressed over the last year. As for selling, it's certainly true that developing rules for selling is probably harder than devising rules for buying. Certainly Pan African Resources (LON:PAF)…

Hi Patxi, Very true. I'm conscious that market conditions over the last year have been favourable, with a steady upwards trend. By simply filtering out most of the dross, it's not been too difficult to outperform. We'll have to see what happens next! Regards, Roland

Thanks Howard, it's great to hear that rules-based investing is working for you too. Regards, Roland

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