Proforma: The MHP (Magic Hat Portfolio) on Stockopedia (http://www.stockopedia.com/fantasy-funds/magic-hat-463/) is an experiment by me to see if a human can improve on a mechanical Greeblatt Magic Formula screen. I am trying to weed out "mistakes" that I feel the screening commits: unseasoned companies, scams, foreign companies (particularly Chinese), fishy accounting, and statistical quirks. Apart from that, I am agnostic as to the sector the company operates in, although I will try to avoid heavy concentration in any one sector. I will mostly apply "Strategic Ignorance", by which I mean that I wont try to be clever in my stockpicking. My picking will be mostly mechanical. A summary of transactions can be found at https://blippy.github.io/money... As of January 2020, I have adjusted my strategy a little. Instead of selecting stocks from the Greenblatt Screen, I will select them from Stockopedia's Screen Of Screens, and look for a StockRank (TM) in the 90's. I won't rule out selecting something from the Greenblatt Screen, though. You can view the portfolio by switching to the old version of the Stockopedia site. With the boilerplate now out the way, let's move on to the actual content ...

PayPoint (LON:PAY) leaves the portfolio by rotation. It does quality for the Greenblatt Screen, so I was contemplating being lazy and just leaving it in.

Halfords (LON:HFD) enters the portfolio because it meets the standard criteria mentioned above. I do hold Halfords (LON:HFD). I'm not comfortable about it, though. Halfords (LON:HFD) seems like it's one of those niche retailers that in the long term is destined for the scrapheap due to the relentless onslaught on online retailing.

Talking of the High Street, my dad has some savings at the SBS (Scottish Building Society). SBS don't have any their own premises on the high street, but they do have agencies in other businesses. I live near a small rural Scottish town (I think it's relevant to mention this). The Building Society had two agencies in the town. Arguably, it didn't need both. However, it recently took the decision to close both agencies. This is not just a local decision, they are doing this across the board. My father asked what I should do, and I said that, at this point, "it's over",…

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