6th Apr


About Me:

My personal investing career began with an emerging markets obsession. Investing in individual emerging market stocks was a much taller order then than today, so I gravitated towards investment fund shares and warrants. Little did I know that (despite the volatility involved) this would turn out to be a very fortunate approach – it pretty much saved me from the consequences of poor/misguided stock analysis, chasing stock tips and investing in garbage stocks all the way down to zero.... Only when I learned of value investing did I finally discover a quantitative approach, plus a set of tools, that appealed to me and equipped me better for investing. And I guess it appealed to my mathematical background and perhaps my natural scepticism. It also tempered my lust to dive into investment trends – in fact, I’ve come to realize that any decent secular trend will take many many years to play out and there will be cycles of booms and busts in any related stocks to exploit, so hold your horses, stick to value investing and your chance will come…! 


A blog about value investing, mostly in UK, Irish and US listed stocks. Interested in individual company stocks, investment funds, risk arbitrage, event driven/special situations, fixed income and even some natural resource stocks.

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Wexboy's Latest Blogs

Ah yes, the great investing debate & divide… At one extreme, we have the wild-eyed growth investor foaming at the mouth over a great story. A silky-tongued CEO’s painted unicorns & castles in the air, and our reckless plunger’s itching to dance the magic rainbow. No price is too high, no management too sleazy, no risk too great, to deter him from the boundless opportunity…

OK, back in June & July, I covered two key benefits of reading: Knowledge, Experience & Inspiration – a constant & wide-ranging diet of non-fiction reading’s essential for any investor, and something you’ll find all the great investors practice & recommend.  Nosce Te Ipsum - I believe reading literature’s equally important, it’s one of the few ways you can truly know thyself (& other people).…

I finished the valuation phase of The Great Irish Share Valuation Project in May, but we’ve actually seen a grand total of three Irish companies IPO since then. Seriously, that’s a bit of a bloody record – one of them even listed on the ISE! I’ll be taking a closer look at each company in this post, and including them in TGISVP for the rest…

You may want to first read my preview of Argo Group's (ARGO:LN) interim results here.My estimate for end-Jun Assets under Management (AUM) was $333.8 mio. Actual AUM was reported at $308.0 m – down (5.6)% from end-Dec, but up 1.9% y-o-y. The H1 return estimates I noted for The Argo Fund (TAF), the Argo Distressed Credit Fund (ADCF) & the Argo Local Markets Fund (ALMF)…

After resisting the lure of reporting quarterly performance at end-March, I’m now left mulling whether I should even report my semi-annual performance(s). Sigh, I probably will… Which is a little silly really, a public (or even private) review of any six month period/return is basically meaningless! Not that I’m complaining, I think you’ll agree the first half of the year treated us all pretty damn…

Wexboy's Latest Comments

Pabster - yes, continuing to work on/progress this situation, but as you can appreciate, not something I can necessarily comment/report on in the meantime. Regards, Wexboy

Sorry, terryshead11, not sure exactly what you're asking - can you please elaborate? Thks

Aaah, with a (revised) title like that, it just sounds like homework..! ;-)

Thks, argoal! dangersimpson, think pretty all your questions are answered above, and in the investment objective kindly provided by argoal. Discount has been larger - as I said, TLI v nearly expired itself in the past few years as it suffered a painful squeeze between reducing valuations, increasing debt & premium payments. As a result, it has become a massively neglected share ever since. I…

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