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Investment Strategy
I trade... weekly
I tend to buy... after much research
Diversification is ... essential to reduce risk
My roots are very much in value investing (although ironically my very first involvement in the market some decades ago was using some "home brewed" technical analysis to variable degrees of success.) Focussing over the last year on improving my investment returns by removing errors and bad practises a particular focus area has been not to buy to soon. Whilst I am in no means a 'momentum investor' the word has at least now entered my lexicon. Systems and the systematic use of information and data form a significant support to my investing and having spent a career on this type of work, this is something I feel and hope gives me an edge.

Gromley's Latest Blogs

Performance review for hedged "Brokefolios" 2018Last year I set out on an experiment to create “market neutral” portfolios by hedging Ed Crofts NAPS (&SNAPS) portfolio with a diversified portfolio of short positions selected using the NAPS methodology “in reverse”. With a rather weak pun on SNAPS I named these the Brokefolios.In this piece I’ll lay out the results and some of the learning picked up…

This time of year tends to lend it self to a reflective mood and thoughts of whether the year just gone can gives any lessons for the one to come.One such piece was Ed Croft’s thought provoking review of 100 years of market history. I mentioned in the commentary to that article that I’d been looking at something similar, but was struggling for a robust…

This was a claim I heard earlier in the week in efforts to explain the share fall in the US markets. That immediately reminded me of the quip from Paul Samuelson , that Wall Street Indexes predicted nine out of the last five recessions. However various sources seem to regard inversion of the yield curve as a very strong indicator, so I thought I would…

I’ll shortly be departing on my annual routine of  one week volunteering  followed by one week family holiday. Now I’ve never surfed in my life, but I do find that a little bit of Beach Boys in the sunshine gets me properly in the mood for summer.The convolutions of my mind led me on to think about those stocks that promise to make you rich…

In the twilight zone between Micro & Small-Cap today Johnston Press (LON:JPR) shares increased by 72% (JPR has a market cap of c. £5m – definitely ‘micro’, but an Enterprise value of c. £225m largish ‘mid-cap’)The company “knows of no operational or corporate or other reason for the price movement.” (Oh, I think they do really - the answer being ‘speculation’) Synopsis. Johnston Press is…

Gromley's Latest Comments

I am highly skeptical that there can ever be a rational investment case for a football club, but sometimes you can get lucky. A good few years ago I decided it would be nice to become a 'co-owner' of my club which was at the time listed on AIM so I 'invested' a token amount (actually thinking back it must have been c. 2-3% of…

Thanks mr o, Yes a fair point that the covenant change is a vote of confidence, but the need to do it is indicative of the tightrope they are walking. Good point also about management or institutional buying, I'd been thinking more about wanting to see earnings momentum, but any such buying could indicate early optimism on that front and that could be a useful…

Some very good points there mrosbiston  re McColl's Retail (LON:MCLS) – one of the benefits of posting here is to get some intelligent “kicking of the tyres”. So I’ll return the compliment and give you my view on each point you raise. - I'm still concerned about profitability, there are a very large amount of adjustments. Yes, although the net adjustment is quite modest (£0.8m),…

Probably best to request this thread s deleted and start another one.

I t would help if you clarify ied which stock you were referring too?

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