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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

Not on the LSE RNS as  I write, but on the BBC: Sports Direct results delayed.

Wildshot,Re: French Connection  Published trades are here: London Stock Exchange.Bonitabeach

Arrow Global (LON:ARW) Between 2013 and 2018 shareholder equity increased from £105.2M to £191.7M.In the same period Goodwill and Intangibles increased from £3.45M to £307.0M.I can fully understand why they have attracted the shorts.BonitabeachNo position; but I'd rather be short than long.

Catalyptic,London Stock Exchange Elektron Technology (LON:EKT) can provide a guide on actual buy/sell trading prices, particularly on illiqid stocks. Wide spreads are something investors in small stocks usually have to stomach, unfortunately.Bonitabeach

Paul, your memory about certain fund managers creating "frozen side pockets" of investments is correct. This is justified as being fair to all investors - who said the market was fair to all investors and where are the guarantees that these illiquid investments will be worth more tomorrow when unfrozen than they are today?There was always too much of a cult about Neil Woodford for…

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