Registered:
28/01/13
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Real Name: Roland Head

Occupation: Blogger, Entrepreneur, Journalist, Private Investor

Interests: Bonds, Commodities, Emerging Markets, Interest Rates, Oil, Property, Stocks, US Market

Location: United Kingdom

Twitter: rolandhead

Fantasy Fund: Stock in Focus portfolio

About Me:

Private investor & writer on stock markets with a particular fondness for free cash flow, dividends and value, plus an interest in resource stocks.

In earlier life, I worked as an engineer in telecoms and IT. The quantitative, rule-based mindset required for this type of work is probably reflected in my investment style. 

Another factor that affects my investment choices is my experience working for a large telecoms company at the turn of the century, when tech stocks were booming. Watching this bubble inflate and then implode from the inside was very educational.


Investment Strategy
I trade... monthly
I tend to buy... according to my system
I hold for... years
Diversification is ... essential to reduce risk

I run two portfolios: the first is a fairly traditional mixed-cap value portfolio with a bias towards income stocks and contrarian picks. I look for asset plays and good businesses going cheap due to short-term pressures.

My second portfolio is the Stock in Focus Portfolio (SIF), which I run as a Stockopedia Fantasy Fund. I write a weekly column about this portfolio for Stockopedia.


Blog

Freelance financial writer, offering news, investment and opinion articles covering primarily UK stocks. Particular interests are dividend and value investing, plus the oil and gas industry. I have the CFA UK Investment Management Certificate (IMC).

Web Address: http://www.rolandhead.com

Address: North Yorkshire
UNITED KINGDOM

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Roland Head's Latest Blogs

When markets become more volatile and uncertain, sticking strictly to a rules-based approach such as SIF can become more difficult. But I also find that it’s something of a relief, as it removes the need for speculative decision making. We don’t know whether the recent shakeout represents the start of a more prolonged bear market, or simply a long-overdue correction. What we can be sure…

As I write this on Monday, the SIF portfolio is looking a bit frayed around the edges, thanks to the market wobble we’ve seen over the last couple of weeks. So far none of the companies in the portfolio have been hit by specific bad news. It just seems to be general round of profit taking. This is no real surprise after such a long…

The last few weeks have seen a flood of company news hit the markets, as earnings season cranks into life. Several of the stocks in the SIF portfolio have been affected, some positively and some less so. This week we’ll see how that news has affected the outlook for two of these shares, consumer goods group McBride and education services firm RM. As it’s the…

The outlook for consumer spending and the property market remain wildly unpredictable, if January’s rash of trading updates is anything to go on. Data from the Office for National Statistics last week showed that retail sales growth by volume slowed to under 2% last year, from more than 4% in both 2015 and 2016. Post-Christmas updates from the supermarkets were fairly solid, but trading statements…

GKN is “an overly complex and under-managed organisation without focus which needs a fundamental change of culture and leadership”. At least that’s the view of turnaround specialist Melrose Industries, which has the troubled FTSE 100 engineering group firmly on its acquisition radar. In a presentation published on Monday targeting GKN shareholders, Melrose claimed that GKN has underperformed the FTSE 350 Total Shareholder Return (TSR) index…



Roland Head's Latest Comments

Hi Tony,Thanks for your comment. My choice of five times is slightly arbitrary, as I need a one-size-fits-all solution. I can see the argument for using a lower limit such as yours, especially if we were (are?) in a climate where debt costs could rise.On the other hand, I believe some defensive and highly profitable businesses can function safely with higher levels of leverage. Not…

Another way to do see the breakdown of the rank components is to go to the sector page for a stock - e.g. click on "Homebuilding & Construction Supplies" at the top of the Norcros page - and then click on the rank numbers. Cheers, Roland

Melvyngd, Thanks for your comment. I agree that a correction does seem possible at some point, although the timing of these things is always fairly unpredictable. Regarding the timing of my recent additions, I have also noticed that several seem to be at 52-week highs. However, I'm adding stocks to the portfolio based on the rules (which I review annually, in April). In my defence,…

aflash,I don't have price targets. All stocks are held for a minimum period of nine months, after which they stay in the portfolio for as long as they still pass my screening rules. If they no longer qualify for the SIF screen, then they're sold.If a bid goes through at an indicative value of 430p per share (remember that most if it is in Melrose…

Hi Gus, Thanks for highlighting this. I'd just seen it too, so I've added an update into the article pointing out that Melrose Industries (LON:MRO) has now made a firm offer worth 430p per share for GKN (LON:GKN). Regards, Roland

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