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Real Name: John Kingham

Occupation: Analyst, Blogger, Company Director, Newsletter Writer, Private Investor

Interests: Stocks

Location: UK

Twitter: @ukvalueinvestor

About Me:

My name is John Kingham and I'm the editor of UK Value Investor, a blog and investment newsletter for defensive and income-focused value investors. I'm also the author of The Defensive Value Investor.

I invest mostly in large and mid-cap dividend-paying stocks. My investment goal is to build and maintain a high yield, high growth, low risk portfolio.

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

The strategy that I have developed is called defensive value investing (although of course I didn't invent that name).  

It involves holding a diverse portfolio of market leading companies that have a proven history of growing sales, earnings and dividends consistently and steadily over many years.

These companies are bought when they represent excellent value for money (high earnings and dividend yields) and sold after a few years, if and when they are no longer such good value for money (typically when the price goes up too high).


UK Value Investor is a blog and investment newsletter for defensive and income-focused value investors. I mostly write company reviews,investment case studies, market valuations and investment strategy article. I also manage a "defensive value" model portfolio which I review quarterly on the blog. 

Web Address:

Address: London

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UK Value Investor's Latest Blogs

In this post I look at the FTSE 100’s current CAPE (cyclically adjusted PE) valuation and then use that to make a short-term forecast for 2018 and a long-term forecast for 2027. Is the FTSE 100 expensive? The large-cap index has repeated hit all-time highs during 2017, and at a current price of 7,550 it sits only a few points below its highest ever closing…

Unilever is one of those defensive income stocks investors love to love. In fact, investors love Unilever shares so much they’ve pushed the price up from £25 in 2015 to a recent high of £45. Does this mean Unilever is an "expensive defensive"? High quality, but overpriced? Unilever: A defensive growth stock in a world of frightening volatility Investors love Unilever because it’s pretty much…

After six long years I've finally decided to sell BAE Systems.In terms of raw numbers, the results look like this:Purchase price: 308p on 21st June 2011Sale price: 643.5p on 8th May 2017Holding period: 5 years 10 monthsCapital gain: 106.7%Dividend income: 34.9%Annualised return: 18.0%In this post I’ll cover why I bought it, what happened during those six years and why I’ve decided to sell now.Overview: Buying…

IG Group is a world leader in online foreign exchange (forex) trading, spread betting and CFDs (contracts for difference) and it’s a stock I’ve owned for about two years.I bought into the company at 603p in 2014 and since then the shares have risen by almost 60% to 940p today. That’s a healthy gain by any reasonable standard, but despite this increase I still think…

Reckitt Benckiser – owner of many famous brand names such as Dettol, Air Wick and Nurofen – is a company I like so much I’ve invested in it twice.The first time I bought and then subsequently sold Reckitt Benckiser the result was an annualised return of 23% over a period of two years, ending in April 2013.I then bought back into the company in February…

UK Value Investor's Latest Comments

Hi Gus, well the markets all certainly "caught a cold" at the same time in recent weeks. However, this doesn't bother me because lower prices simply mean more attractive prices and higher expected future returns (assuming it's a price correction and not a collapse of long-term future economic prospects, which IMO is far less likely and a different kettle of fish altogether).

Exactly. Interesting point about the Galbler's Fallacy. It's not exactly the same because if the market goes up faster than fundamentals then it expands valuation ratios, and that in turn increases the probability that the market will go down. So in that sense the past string of "reds" can change the probability of the next spin of the wheel. However, the impact is negligible unless…

Thanks, appreciate the feedback. As for Brexit, I fear it will drag on for many years....

"Nick Train and Terry Smith think Unilever is good value at this level, you don't. In 20 years we can look back and see who was right :-)" Assuming I'm still alive, I look forward to it!

Hi Graham, Possibly, but I see Amazon's own brand being a threat with middle of the road products as well as value products. The only suitable products (i.e. ones that people don't want to feel or taste or try on in store) that might be safe are luxury items where the brand name is part of the product. Some of Unilever's products fall into that…

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