41 mins ago


Occupation: Company Director

Interests: Stocks

Location: United Kingdom

About Me:

Investor with over 30 years experience.

Work in insurance.

Target 15% IRR. (17.7% IRR achieved January 2015 - February 2018).

   2015: +20.7%

   2016: +7.0% (rescued by a good December)

   2017: +34.5% (just one down month)

   2018: -3.0% (two losing months, so far)

Investment Strategy
I trade... weekly
I tend to buy... after much research
I hold for... years
I invest with... >£1m
Diversification is ... a hedge for ignorance
Long-term buy-and-hold investor. Focussed on fundamentals. Look to achieve competitive advantage through detailed analysis of selected small caps. Willing to take large positions (>20% of portfolio) in best ideas.

Effortless Cool's Latest Blogs

AO World (LON:AO.) is an online electrical retailer. It describes its mission as "to be the best electrical retailer in Europe. It may well be succeeding in that mission, claiming industry-leading scores on customer review websites and very high net promoter scores. The price of delivering that level of service, however, as I will set out below, is that is a loss-making business that seems…

Can anyone help with this? I'm trying to create a post with some charts in. I have saved the charts as pictures, but can't work out how to insert them into the post. I have actually done this successfully before, but can't remember how. I'm on a Mac using Safari.

Water Intelligence (LON:WATR) came to the Aim market in 2010, through a reverse takeover of Qonnectis plc. Its principle asset is the American Leak Detection (ALD) business, which it operates on both a franchisee and corporate-owned basis. Background As described in the 2010 prospectus: http://www.waterintelligence.c... “ALD focusses on the accurate, non-destructive detection of all types of leaks including hidden water and sewer leaks, together with…

Based on Paul Scott’s analysis of ABDP’s recent interim results and the ensuing discussion, there seems to be a poor understanding, even amongst savvy investors, of the methodology through which share-based payment costs are calculated and the appropriateness or otherwise of including them in earnings-based valuations. I was one of those confused investors, and the ABDP situation spurred me on to do some research to…

Effortless Cool's Latest Comments

Results for 2017 were out this week. They were okay on the face of it. However: - Revenue was barely up on the prior year and, with the order book down versus end-2016, it may be hard for them to deliver market expectations (up 13%) in 2018. - Capitalised development costs were just over £1m. This is about 25% of the total payroll net of…

I went through a similar process with my wife’s deferred member DB pension recently. We intended to switch it into an AJ Bell SIPP where I would manage the investments. Legislation required her to get “advice” she neither wanted nor needed. The fact that I am a qualified actuary counted for nothing. The process of finding someone to give that advice proved something of a…

Well done, Si, you're going out in style. A defeated gladiator condemned to death by the crowd.

Agreed, the cash position is getting absurd. At year-end 2017, cash represented over half their total equity. However, note that the dividend increase in 2016 was 20% and that this rose to 32% in 2017. Further, the Outlook Statement says: "The current year has started with orders, revenues and trading along similar levels to that of the prior year, which, together with our strong balance…

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