Mon 2:00pm


Occupation: Private Investor

Interests: Property, Stocks

Location: Kent

Twitter: @kalkanite62

About Me:

Retired from engineering aged 53 to take up full time private investing. Hold a concentrated portfolio. Value & GARP investor. My preferred invetments are companies with very good downside protection whilst having great upside potential, or as Mohnish Pabrai would put it - "Heads I win, tails I don't lose much" investments.

Investment Strategy
I trade... a few times per year
I tend to buy... after much research
I hold for... a year
Diversification is ... a hedge for ignorance
I invest in companies that are undervalued and have very good downside protection, invest companies that are in my circle of competence and have understandable set of accounts, if it's too hard to understand, it's because the CEO doesn't want you to understand so is a bargepole. Invest only in management that you can trust. Keep it simple and avoid complex investments, the psychological side of investing is hard enough. I keep my hurdle rate high and therefore only invest in a few companies each year. When in doubt, don't - Benjamin Franklin. I do not invest in any of the following.... Oil & gas Mining - Hole in the ground with a liar at the top Financials - Too difficult to value Blue sky shares - Too often fail to get off the ground Low margin, especially large scale contractors - always an accident away from bankruptcy Consultancy firms - where staff can upsticks and take contracts/clients with them IPOs – The most knowledgeable person of an IPO company is the current CEO, so why is he selling? Most foreign listed companies on AIM Companies carrying more than 25% of market cap in debt - can quickly go to 50% in a bear market

Kalkanite's Latest Blogs

I've become increasingly worried about the size of and attitude towards corporate debt over the last couple of years. I think that the recent collapse of Carillion is just the canary in the mine.BOND PROXIES With such low yields from bonds and a potential collapse in bond prices should inflation rear its ugly head, many (especially FTSE 100) companies have become increasingly more popular as…

This value investor breaking his rule and going for growth”If 3/4 of your Gin & Tonic is the tonic, make sure you use the best”“Proudly served in 7 of the 10 top restaurants in the world”I’m a bit late to the Fever Tree party but I think there is still a great deal more to come from this British growth company that is priced at…

I sold out of JDG this morning (20/7/2016) after a profit warning in their interim results to end of June. It seems that despite several “quality looking” acquisitions over the last 18 months, JDG will be heading for lower EPS than it had 2 years ago. I first bought JDG in January 2011 at a price of £4.35 and have held the shares since, buying…

HOME - Interesting times Next week is a crucial time for HOME the owners of Argos and Homebase, after the RNS announcement from Sainsbury on Tuesday that their offer in November for Home was rejected by the board of directors. First up on Wed 13th is the third quarter trading statement from Sainsbury’s followed the next day by Homes Q3 statement. It seems very clear…

HOME Mkt Cap – 866m Enterprise Value – 673m Share price today – 102.6p Dividend Yield – 3.5% Price to net tangible assets – 1 HOME, the owner of Home Base and Argos has had a real torrid time of it lately, with its share price dropping from a high of 218p in January of this year to todays valuation of 103p per share. There…

Kalkanite's Latest Comments

Interesting to see that Tesla is now the best selling mid size premium car in the USA.Also since 2015 Tesla has installed a gigawatt hour of electricity....'s on top of large scale solar projects like this virtual solar power plant installation using 50,000 homes in Australia... are not just about cars.Kalkanite (not a holder)

An excellent post from Sweenoid / Dave Sweeney about the IQE AGM yesterday. This was posted on ADVFN..... My AGM report-sit down, make a cup of tea. If anybody saw two middle-aged men wandering circuitously down Penarth High Street last night I hold my hands up and admit that Ken ( Hammerd)and I were responsible.! The AGM this year was a very successful affair, I…

Can I suggest that you take the day off and enjoy the Bank holiday Monday :-)

jj - I think the idea is that once they achieve something like 5000 cars per week they will copy and paste the mega factories around the globe. Will they get there? I don't know but the copy and paste should be quite a quick role out. I was certainly unimpressed with Elon's reaction to some of the analyst's questions at the earnings call. However,…

Andy, Tesla quite simply do have solar, the clue was in the name of SOLAR city! Just look at the 44MW solar array with battery power pack project that Tesla have won to supply 50,000 homes in Australia here...... Not sure what point you are trying to make but if you google Tesla solar power projects you can see for yourself.

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