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Occupation: Company Director, Private Investor

Interests: Economics, Stocks

About Me:

I am a Chartered Accountant and have been investing privately since leaving university at the turn of the millennium.

Investment Strategy
I trade... monthly
I tend to buy... after much research
I hold for... years
Diversification is ... a hedge for ignorance
I find it difficult to define my strategy precisely as I tend to take each investing situation in isolation. Consequently I have a mixture of value, growth and quality investments. However my general principles involve only buying real, established, profitable and cash generative businesses. I have a very poor record with blue sky stocks. I generally regard the Buffettesque quality approach as the ultimate model and so tend to look for companies with very strong competitive advantages, high rates of return on capital and equity, good margins and predictable growth.

PhilipHanson's Latest Blogs

Following comments I saw last week from Paul on Laura Ashley Holdings (LON:ALY) and also some of my own research on easyJet (LON:EZJ) it appears that some companies show dividends paid to shareholders in the operating cash flow (OCF) section of their cash flow statements. In most companies, dividends paid are shown as financing items. However International Financial Reportings Standards (IFRS) allows them to be…

Avation PLCMy thoughts here are based on my attendance at the Avation (LON:AVAP) presentation at Mello 2014 in Derby, some time talking to Richard Wolanski one on one at his stand afterwards, some further research subsequently and my long-standing interest in and knowledge of the aviation business.Many had commented after his performance at Mello Brighton that they found Richard to be very bullish/promotional for an…

PhilipHanson's Latest Comments

You can add Balfour Beatty (LON:BBY) and Interserve (LON:IRV) to the list of construction/contract companies that have had large contract whoopsies. The support/services and construction sectors are a total bargepole for me now. Low margin, difficult customers constantly changing their minds on the requirements, highly competitive with little economic moat in the business, contracts are often won on price alone and then when one goes…

Google Finance shows some stocks fine, others there is no data at all since before the change, e.g. IGR Can people please use the "Report a problem" link at the bottom of the Google Finance page. It's very simple and quick to use and the more users report problems, the more likely Google are to fix it ASAP.

I've sold half of mine on the open. If this trading update is not a profit warning, then it sows the seeds of a future possible warning as far as I'm concerned. It's all about the US so flat sales there and particularly the comment about "political uncertainty" are key. Don't forget that Somero Enterprises Inc (LON:SOM) got a big Trump boost so if his…

So far, Revolution Bars (LON:RBG) is playing out pretty much exactly as per Stockopedia's Profit Warning Survival Guide i.e. it was far better to get out immediately as the price has continued to sink after the day of the warning. The Guide is well worth a read/refresher. I have no problem with founders of sensationally successful businesses like Fevertree Drinks (LON:FEVR) selling chunks of…

I'm bullish on Just Eat (LON:JE.) It's a fantastic business model and is benefitting from the classic internet portal network effect. There is nothing in the forecasts for the HH acquisition so worst case is it doesn't happen and Just Eat (LON:JE.) save £240m to spend on competing with them!Per Just Eat (LON:JE.) management, the number two in the online food delivery market does not…

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