Latest portfolio returns, stock buys and thoughts on the markets. Mello

25th May '23 by Paul Hill

3 comments 575 reads

For those interested, please find below a downloadable link (on LinkedIn) to the slide deck that I presented at Mello in Chiswick yesterday, covering my latest stock positions, recent buys/sells and thoughts on the markets.

As always "past performance is no indicator of future returns". My 30 year HIT RATE is ONLY 63%. So 37% of the time I lose money.

Plus my risk tolerance is high & time horizons long, reflecting a concentrated portfolio with lots of idiosyncratic value drivers.

Hopefully an enjoyable 'stock fest' for those with thick skins & broad shoulders.

Paul Hill Mello slide presentation 23rd May 2023

https://www.linkedin.com/posts...

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KevinS1

25th May '23

Hi Paul - I am afraid I couldn't make Mello, but thanks for posting your slides. Really great presentation and some good ideas for further thought.

bsharman

Apologies that I missed this Mello, and I really enjoyed your talk at the last one. I have been looking at the brick companies and was finding it difficult to decide between them. Ibstock (LON:IBST) Forterra (LON:FORT) Brickability (LON:BRCK) Michelmersh Brick Holdings (LON:MBH) - Did you compare them all and why did you decide on Michelmersh Brick Holdings (LON:MBH) above the others?

Paul Hill

Great question bsharman.

I went for #MBH because its more a niche UK brick maker - suggesting it might act as a 'trophy asset' if/when industry consolidation occurs.

Elsewhere, I rate the management team (eg co-CEO Frank Hanna) & the balance sheet looks rock solid. For me its a core, long term position.

Latest portfolio returns, stock buys and thoughts on the markets. Mello

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Paul Hill

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