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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

Closure of investigation into Grant Thornton UK’s audits of Globo Plc 30 July 2018 The Financial Reporting Council (FRC) today announces the closure of its investigation into the conduct of Grant Thornton UK LLP (GTUK) in relation to the audits of the consolidated financial statements of Globo Plc (Globo) for the years ended 31 December 2013 and 31 December 2014.   Globo was a mobile technology…

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…

Bonitabeach's Latest Comments

ALUMASC LON:ALUIt's a slow news day so this caught my eye: Directorate Change. Did he jump or was he pushed? I don't think it matters too much: ALUMASC is finding it tough and I think this is a sign things will get worse before they get better.I have made money on this one in the past but I think it needs to be around 70p…

Currently: USA               70% (Mainly tech + financials (not banks))  UK                  20% (Property + financials (only Barclays in banks - mistake!)  EU                    5% (SWEDBANK + AEGEON ) both very recent buys CASH                 5% - pretty normal for me. The drift to the USA started for me in 2012 and the primary driver was the view of an undervalued $ against an overvalued £. Subsequently I have…

So is the bottom line for Burford Capital LON:BUR the value of a judgement in a New York federal court, in favour of two bankrupt Spanish energy companies, against the Argentine state, over the nationalisation of YPF S.A. in 2012?The image of two bald men fighting over a comb comes to mind!Bonitabeach

timarr,"Following the close of each financial reporting period, Burford’s board determines the fair values of investments after taking into account the views of management, the operation of the audit process and input from external experts (as it considers appropriate).""Given that the fair value estimate is critically dependent on Burford's board it then becomes entirely legitimate to examine the integrity of that board.  And as they've…

Burford Capital (LON:BUR)I write as a disinterested outsider never having owned or had the vaguest interest in the shares of this company. I do have some past experience of commercial litigation and totally agree with the following statement from the Burford website: Pursuing a high-stakes commercial claim is costlier and more uncertain than ever.Translating this "uncertainty" into an unbroken run of net profit increases from…

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