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Investment Strategy
I trade... weekly
I tend to buy... after much research
Diversification is ... essential to reduce risk
I know what I don't like: incompetent management - my maternal grandfather taught me that along with a few other things including: Don't buy the funds: buy the Fund Managers! Acquisitions usually destroy shareholder value - mergers are even worse. Don't gamble: buy the companies that cater to those who do. Don't borrow money: buy the companies that lend to those who do. Avoid: low margin businesses. Never forget: leverage works against you on the downside. I try to avoid overpaying, the P/E ratio is important, anything over 20 is speculative in my opinion. My income is now the "natural" yield from my investments so I have some American "junk bond" funds - which do not necessarily have the risk profile you might expect. Patience has proven to be my ally, procrastination my enemy.

Bonitabeach's Latest Blogs

XPP Power has been on a rocket ride in 2017, the share price rising 90% since the start of the year. I bought in April 2012 - a modest investment I wish had been larger (don't we usually?). This wasn't always the case; the share price effectively drifted sideways three years for 2014 - 2016. A 90% rise in 10 months - what has changed?…

A disastrous RNS from Utilitywise this morning. This follows an increasingly revisionary series of news that always diminished previously reported profitability and cash flow. Brendan Flattery, the new CEO, appears to be tackling the issues but missing from this morning's announcement is the resignation of the directors and CFO if appropriate, responsible for this "over estimation of energy consumption". "Over estimation"  on this scale reeks…

The half-year results statement Sports Direct - Half Year Results was poorly received by the market. I still think the problems inherent in this company are underestimated and the company is uninvestable for the private individual. I could find little positive in the results other than the rise in group revenue on a currency neutral basis and excluding the Heatons acquisition of 4.2%. This is…

Sports Direct looks a tempting buy on a lot of metrics, trading 43% below its 200 day moving average, a forward PE of 8.2, minimal net debt and yet something doesn't smell right about this business and I am not talking about Mike Ashley.The phrase that didn't sit right with me from the preliminary results announcement was "continued investment in inventory". Isn't inventory something you…

Today the Board of   TESCO PLC   announced their decision to appoint Dave Lewis as chief executive had been, in their judgement, a resounding success and Mr Lewis has been suitably rewarded. Base salary rises from £570,000 to £1,250,000, pension contribution up from £130,000 to £313,000, and a £3,000,000 bonus for being Dave, not Phil. IndependentMeanwhile, back on planet Earth:xThe share price closed at 225p on…

Bonitabeach's Latest Comments

Update 15 November:"As part of its audit procedures, the Group's external auditor, BDO LLP, has now requested that the Group obtains additional advice from an independent accounting firm in respect of the Group's estimation methodology for expected consumption levels on live contracts."From the RNS of 29 June:"Utilitywise has been made aware of apparent material levels of under-consumption in certain contracts placed with one of the…

"Taking BT as an example" - It is very easy to extrapolate from the particular, but that does not always prove anything.Personally, I do not use stop loss limits. It would be interesting to hear from those that do, how it worked for them after the Brexit referendum result and the election of Trump.Bonitabeach

HSBC plc and Citigroup Inc were the lead book runners on this deal. They have taken their fees - is it really responsible of them to promote such an issue to their clients? Are the Pension and Fund managers buying this paper doing a good job for the investors entrusting them with their savings? An Argentine Government Bond with a life-span of 100 years -…

Hi Paul,I'm having a bit of an idle Sunday afternoon.I have read this article: Redfin but cannot decide if it makes me bullish about Purplebricks (LON:PURP) because the current channels to sell a house are so expensive or bearish because a lot of other people have come to the same conclusion and the competition will get fierce. It worries me that the Purplebricks sortie into…

Sierra Wireless NSQ:SWIR would be an obvious buyer for Telit Communications LON:TCM and the combined business would have well over 50% of the world market for their IOT modules. Sierra Wireless has never been particularly profitable but its accounts are a lot cleaner and it carries net cash. The combination would give them some real pricing power when talking to the car companies.Two obstacles:1) Sierra…

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