Good morning!

Today I intend reviewing the following;

Begbies Traynor (LON:BEG) - trading update

Redstoneconnect (LON:REDS) - trading update

Cambria Automobiles (LON:CAMB) - trading update

XLMedia (LON:XLM) - results

Lakehouse (LON:LAKE) - trading update & moving to AIM

The above is likely to take me most of the afternoon, so please refresh this page later for the full report.



Market & strategy update

The market's love affair with growth stocks continues unabated. Value investing hasn't worked very well at all for me, in the last 3 or 4 years. So I adapted my approach in 2015, and further again in 2016, to focus more on growth companies. Not speculative or blue sky rubbish, but proper growth companies - i.e. things that are already profitable (or close to it), and expanding fast, organically.

Specifically, I'm now focused quite tightly on these particular niches;

  • High quality roll-outs at reasonable prices (e.g. Revolution Bars (LON:RBG) , Fulham Shore (LON:FUL) and Patisserie Holdings (LON:CAKE) - which I think are the best ones on the UK market currently, all 3 of which I hold personally)
  • Internet-based businesses which are genuine disrupters of existing sectors, and have exponential organic growth potential (examples include Purplebricks (LON:PURP) , Gear4Music (G4M), MySale (LON:MYSL) , possibly Proactis Holdings (LON:PHD) might partially fall into this category, even little BOTB too - all of which I hold).
  • Anything else which is demonstrating strong organic growth, and crucially is beating broker forecasts. I've set up a terrific Stockopedia screen to identify companies which are receiving broker forecast upgrades, and it's working very well. This is a really good way of identifying companies which are most likely to beat expectations at results time - i.e. ones which have already been guiding analysts upwards before results.

It's worked tremendously well, as you can see from my fantasy portfolio. which has risen over 137% since a recent low, in July 2016. Not bad in 8 months. I was discussing this the other day,…

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