Sat 11:43am


Real Name: Paul Scott

Occupation: Analyst, Blogger, Company Director, Entrepreneur, Event Organiser, Private Investor

Interests: Economics, Stocks

Location: Hove & Canonbury

Twitter: @paulypilot

Fantasy Fund: Beam me up Scotty

About Me:

I trained as an accountant with a Top 5 firm, but that was so boring that I spent too much time in the 1990s being a disco bunny, and busting moves on the dancefloor, and chilling out with mates back at either my house or theirs, and having a lot of fun!

Then spent 8 years as FD for a ladieswear retail chain called "Pilot", leaving on great terms in 2002 - having been a key player in growing the business 10 fold. If the truth be told, I partied pretty hard at the weekends too, so bank reconciliations on Monday mornings were more luck than judgement!! But they were always correct.

I got bored with that and decided to become a professional small caps investor in 2002. I made millions, but got too cocky, and lost the lot in 2008, due to excessive gearing. A miserable, wilderness period occurred from 2008-2012.

Since then, the sun has begun to shine again! I am now utterly briliant again, and immerse myself in small caps, and am a walking encyclopedia on the subject. I love writing a daily report for on most weekday mornings, constantly researching daily results & trading updates for small caps. Cheese!

Investment Strategy
I trade... weekly
I tend to buy... after much research
I hold for... years
I search for fundamental value in smaller caps, especially companies which are overlooked, or where price has become irrationally low due to negative sentiment. I like businesses with decent cashflow, strong balance sheets, and like dividends. I tend to hold for 6 months to 10 years, but a typical investment is 2-3 years. Special situations, and situations where the market has not yet priced in an improving commercial outlook for a company particularly interest me, as do turnarounds. But above all, shares which are cheap!

Paul Scott's Latest Blogs

Good morning, I didn't get round to commenting on Marks and Spencer (LON:MKS) results yesterday, which a reader asked me to do. I haven't looked at MKS properly for a long time, so thought it would be interesting. So here goes, this is what I wrote last night; Marks and Spencer (LON:MKS) Share price: 307p (up 5.2% yesterday, on results day)No. shares: 1,624.8mMarket cap: £4,988m…

Good morning, it's Paul here! There's plenty of news to report on today. A reader has asked me to look at Marks and Spencer (LON:MKS) results. I'm just printing off the RNS, and will have a look at it later. EDIT: I've read the MKS results, but as it's late now, I'll type up my thoughts in tomorrow's report. Airea (LON:AIEA) Share price: 54p (down…

Good morning, it's Paul here. CVA newsflash There was an interesting twist in the topical theme of retailer/hospitality companies seeking to restructure their property portfolios using CVAs. CityAM reported via the Sunday Times, that Next (in which I have a long position) is asking for a "CVA clause" in new leases. This would trigger a rent cut for Next, if any of its neighbours gain…

Good morning, it's Paul here!  Graham is having the day off today. There's not much news today. CVAs There seem to be lots of interesting things going on at the moment. Mothercare (LON:MTC) seems to be pressing ahead with its CVA & refinancing. I didn't get time to report on that yesterday. Carluccios restaurants is apparently the next chain lining up a CVA. I wonder…

Good morning! It's Paul here. Mello South - 14 June Following the amazing success of Mello Derby a few weeks ago, David Stredder has organised another, slightly smaller, one-day investor event - this time in Hever, Kent. For those travelling from London, the direct train from London Bridge only takes 42 minutes. By car, it's near the M25. The surrounding area looks lovely, so it…

Paul Scott's Latest Comments

Hi Howard Marx,However, empirically I think you're wrong on this, no doubt scarred by your experience with illiquid stocks during the Great Financial Crisis of 2008.I lost all my money in 2008 precisely because I couldn't sell illiquid shares!So no amount of academic studies or statistics will ever change my mind on this - because this actually happened to me. Isn't that what "empirically" means?Admittedly,…

Hi abtan, I think you've done your figures wrong on Airea (LON:AIEA) By my calculations, it should be making £3-4m p.a. once the carpets division is gone. Also, the core business is growing strongly, and introducing new products, and makes an operating profit margin of about 16%. So it's entirely feasible that Airea could be making maybe £5m+ annual profit in the not-too-distant future. Point…

Many thanks for the excellent reader comments today on Bloomsbury Publishing (LON:BMY) picking up on a few things that I didn't cover in the main report. I don't usually have time to read all the narrative that goes with figures, so I particularly like it when readers pick up on stuff that I've missed, and add comments here, it really adds value, so thank you!I've…

Hi Lloyd,Thanks for your kind message, however I must correct one point;Anyway thanks again, and If I ever meet you I think I owe you both a pint for some real good reccomendationsWe never, ever recommend shares! We just give our personal opinions on the day's small cap results & trading updates. Sometimes we're right, sometimes wrong. But it's designed to stimulate discussion & for…

Hi bwakem, My wife (age 39) received a catalogue from Sosandar (LON:SOS) by mail a couple of weeks ago. No idea where they got her details and she'd never heard of them. She liked quite a few of the dresses and I tried to buy her one but they'd sold out in all sizes. Good news they are selling stuff fast, bad news they don't…

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