Mon 1:16pm


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

Wondering what's going on in stock markets ? It's all about positioning2016 will go down as the year of the underdog. Leicester City winning the Premier League at odds of 5000 to 1, BREXIT at 7 to 1 and Donald Trump at roughly 5 to 1. These were all unlikely scenarios that went against conventional wisdom. And so it also meant that fund managers were…

Mountview Estates 10600pStated NAV per share 83300pNAV / Share based on Allsops Methodology 15700pMountview Estates produced H1 numbers for HY ending Sept. As a reminder Mountviewowns and acquires tenanted residential property throughout the United Kingdom and sells such property when it becomes vacant. The Company's portfolio of categories of properties includes regulated tenanted (residential) units, assured tenancy units, ground rent units and life tenancy units. …

CLS Holdings 1575p Mkt Cap £643m I wrote up my thoughts on CLS shortly after the BREXIT vote when the shares had fallen to 1200p and I felt there was a very attractive risk reward. The share price is now 1575p but I think the risk reward still looks favourable and current trading remains positive. In terms of today's update : Disposals since the…

Bioventix (BVXP)  1300p Mkt Cap £65m Net Cash £5.4m 17.5x FY17 PE DY 3.3% (4.8% incl spec div)ConclusionI first read about Bioventix in an interview with Keith Ashwell-Lord on the Stockopedia website. I was really interested as it seemed to be a high returns business with a great moat and reasonable valuation. So I did my own research and along the way met Leon…

Young & Co Non Voting shares: 1020p A Shares 1321p Young & Co's H1 results last week were rather overshadowed by The Donald booking his stay for the next 4 years in the White House. However Young's results themselves were dependably good, just like the beer Young's serves. Around 90% of Group operating profits are generated by the 172 managed houses and LFL sales rose…

VegPatch's Latest Comments

The best business here has always been the escrow business. Does anyone have a view on what that would be worth on a stand alone basis to private equity?

Cig There are lots of entrepreneurial people everywhere these days and looking at the mother of entrepreneurialism, the United States, shows that despite huge copy cats it is only a few competitors that get to scale eg Pizza Hut and Dominos Pizza at at least 2x size of their biggest competitors like Pappa Johns (ok, I admit if i had a "sub-scale" pizza business with…

Hi Seadoc Thanks for the background which is really useful. I will watch the documentary. I have been a professional investor for 20 years and made many mistakes for both my clients and myself. My top mistake is always selling too early, especially when shares look "expensive" yet the business fundamentals remain intact. (However, If the fundamentals are degenerating then feel free to sell) I…

Paul DPP is a high valuation granted but Dominos has been so successful globally (13k stores globally and growing fast) that you would be crazy to bet against it. Here is my write up from September where the first thing I do is acknowledge its expensive but I remain a holder, and if these LFLs and store roll out keep going then it becomes a…

News today of formal instatement of a dividend policy, to replace the historic policy of opportunistic buybacks of shares below NAV. Its a value neutral move for me as i just care about total return, although it will definitely bring more income investors potentially into the investment universe. Shares now 1644p thats +37% since July 2016. Pity they aren't all that good !

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