6th Sep '16


Occupation: Fund Manager, Private Investor, Research House

Interests: Funds, Geopolitics, Gold, Hedge Funds, International Stocks, Stocks, US Market

Fantasy Fund: Warehouse

Investment Strategy
I trade... monthly
I tend to buy... after much research
I hold for... years
I invest with... <£50k
Diversification is ... important, but not beyond 10 positions
High-conviction, 5-10 stocks, value + quality + momentum, health/tech/retail

Bobshiller's Latest Blogs

Dear all, As investors, we are all concerned about portfolio diversification. Personally, I follow a highly concentrated strategy (5-10 stocks), but that does not mean I do not investigate portfolio diversification. But what is the best way to achieve diversification? The academic literature is filled with articles that suggest a minimum number of stocks needed to lower positive correlation among stocks in the portfolio. Typically,…

Bobshiller's Latest Comments

Certainly a good starting point, but there's obviously a lot of limitations to a simple median value calculation. I think I saw a more sophisticated aggregate market/sector approach pass by in the suggestion box.

You could not be more right, and I have not been considering this enough. Below the two snapshots (2010-2015 vs. 2005-2010).As you mentioned, energy/utilities was looking far better back then.What would be extremely helpful here, is a good aggregate stockrank metric for industries, so to spot these kind of changes as we are looking at them (not through a backtest). For now, I will still…

Dear Ed, Thanks again for the insightful remarks! Just discussing the idea here has already made me think further and deeper to improve the overall strategy. Let's see what the results are in a couple of years.

Dear Graham, Thanks for the excellent comments! Obviously, I agree with everyone in this discussion that different things work for different people. And thank god! The Stockopedia forum would not have been as interesting otherwise. I just wanted to come back on two things you mentioned. First is the graph on portfolio diversification. Those are indeed the kind of graphs you see all over the…

Dear Ed, Thank you for your thoughtful response and thanks for sharing your strategy! I do follow you on the long-short part and the lack thereof in my explanation. But allow me to share the following results. As mentioned, I look at 10, 5, 3 and 1 year performance of different sectors on a risk-adjusted basis. I come to the very robust conclusion that health,…

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