Registered:
14/11/14
Seen:
Wed 10:36pm
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Comments
231
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Occupation: Fund Manager

Interests: European Markets, International Stocks, Stocks, US Market

Location: At Home

About Me:

A Portfolio Manager with over 15 years experience. Currently looking for a job (please email me if you think I could help your organisation). When not ferrying the kids around or in the veg patch I love analysing shares and taking positions on both the long and the short side. I look for value situations, especially net-nets and undervalued compounders. I believe good / bad management has a massive impact on the outcomes for shareholders. I would not rather do any other job. Email me if you have any interesting ideas that fit into my criteria.


Investment Strategy
I trade... a few times per year
I tend to buy... after much research
I hold for... years
Diversification is ... essential to reduce risk
Bottom up investor who combines a core of quality high return shares with more opportunistic purchases of value / out of favour companies where I feel the market is being too short term. Mainly a UK investor but I have also invested in European and US situations.


VegPatch's Latest Blogs

Bit annoyed as have to rewrite this as the Stockopedia system crashed as I was trying to post it.... Somero 280p Mkt Cap £156m StockRank 96 The important bit is that there has been a pickup in trading at the end of H1 and the Group is on track to meet market expectations The US, the Group's largest region saw revenues down a bit in…

Young & co Brewery Price 1060p Mkt cap £640m StockRank: 85 Prior to today's AGM Young & Co released its 13 week trading update. Managed house LFLs are up 8.6%, and total managed house sales, which account for c80% of Group sales and more than that of profits, grew 10,8%. Clearly one swallow doesn't make a summer but a heatwave in June and and a…

Mountview Estates (MTVW)Stated NAV share £86VegPatch NAV / share £200 / shareIn a very bullish market Mountview is one of the most undervalued stocks I know or own. Today's results show turnover is down a tiny bit, but this is against a prior period when George Osborne (remember him?!) as Chancellor increased stamp duty thus inflating sales as people rushed to purchase houses at the…

Price : 195p Mkt cap £ Interesting release from CLS today which announces it will acquire a portfolio of German and offices for €152m (£134m) representing a net initial yield of 6.3%. Occupancy is only 89% so there is room for some asset management, where CLS has a good track record. The offices are located around the major cities of Hamburg, Düsseldorf and Munich and…

Somero announced its AGM trading update today : the key point is that the "Company's trading to date is in-line with market expectations for the full year ending 31 December 2017." Regional trading NOrth America,which accounts for 70% of sales, is only flat. I mentioned this as risk in a post yesterday as the data has been less conducive recently. Partially this slowdown is due…



VegPatch's Latest Comments

Interesting thoughts NickOne area that you could also think about is funding a spreadbetting account and NOT utilising the leverage offered. Ie just invest what you have deposited. If you invest in sensible companies and generate a return, either income or capital, this is not subject to CGT or dividend tax and you dont even have to declare it on your tax return as it…

One of the best things about Stockopedia is the mostly good natured and respectful posting. Investors (rather than traders) try and help each other out. Go to ADVFN and if one person advises another to calm down (think Harry Enfield in taches https://www.youtube.com/watch?v=STIvNjWobzA) people go ballistic. There are some proper muppets on there. Echo chamber...more like holding a 1 trillion amp ACDC concert in a…

Oops a mistake in my maths. Apologies! The conveyancing businesses were acquired for a total spend of £6.3m Lets say they are worth £4m To redo the maths... Critical Care £25m Conveyancing £4m Call it £30m Mkt Cap £66 Net Debt £18 EV £84 Minus non NAH businesses = £84-£30 = £54 2016 EBIT £14 And as I understand it, only 30% of the NAH…

Hi Dearg How about thinking about it another way? The conveyancing arm which provides marketing leads to conveyancing professionals was purchased for £28m, profits have risen since the 2 businesses were bought in 2015. Lets be conservative and say its worth 70% of what NAHL paid for it. = c£20m The critical care business, Bush, which generates mainly fixed fee consultancy revenues, is not very…

I missed that. Thanks for pointing it out. I will have a look. It also doesn't explain why the bad weather wasn't more prominently explained in the RNS. Re cyclicality Have a look at my post from March 2015. It explains the margin movements in the last downturn. http://www.stockopedia.com/content/somero-good-portents-from-ashteads-q3s-and-only-on-a-pe-of-10x-growing-topline-40-93646/ (shares were only 113p !) Sales fell massively in 2007, gross margins fell from 55% to…

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