Morning,

Well, I think we'll all be talking about that address to the nation for some time. Historic stuff. Various monitors say footfall to retail, bar and restaurant sites have fallen by about 70% now. This will, of course, become closer to 100% over the next couple of days. Forecasts made as recently as last week might now be out of date as we face a more complete and, perhaps, longer shutdown than some initially envisioned.

The FTSE is actually set to open up 225 points at 5,130 - relief at signs of more decisive action? Or just volatile markets? It's funny how you get used to volatility - I remember when a 200 point move meant something. In fact we all do, it was only a couple of months ago!

The FTSE 250 is down by about 25% in the past two weeks alone. If you are looking at a double digit negative performance, know that you're not alone. Small caps in particular have been underperforming. The market is marking everything down, though, meaning good companies are cheaper than they were.

For anybody that hasn't seen, we've had a couple of useful articles so far this week that are worth reading. Yesterday, Alex wrote this historical perspective on the 'Corona Crash', and Graham has just published this piece on high margin companies that are better placed to ride out the storm.

I'm looking around for the day's news. Any suggestions leave a comment.

Edit: many thanks to MrContrarian for his excellent daily comments. Some of the companies I intend to look at so far include:

Thanks,

Jack


Quartix Holdings (LON:QTX)

  • Share price: 240p (-1.64%)
  • No. of shares: 48 million
  • Market cap: £117 million

AGM Trading Statement

Quartix Holdings (LON:QTX) is highly regarded by some canny investors, but I have never looked at it closely myself because I have been put off by historically high relative valuations. That has probably changed now: the company trades on a historic PE of 21.4 times.

That’s still expensive, but much more palatable.

Quartix is one of Europe's leading suppliers of subscription-based vehicle tracking systems, software and services.

Some of the positives:

  • High margin and cash generative,
  • Recurring revenues,
  • Well regarded management team,
  • Good dividend yield (although divi cover is low, and companies…

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