Hi and welcome to Quality Share Surfer.
This is a UK focused investing blog in which I chronicle my decisions following a real life portfolio and discuss and improve my investment strategy.
My investing strategy is based the idea that shares with certain attributes, e.g. value, quality and momentum, outperform the market on average. It is focused primarily on exploiting two such attributes in combination: a) the tendency for high quality, defensive businesses to outperform over time and b) the tendency of shares with momentum to continue to do well. You can find out more about my strategy following the menu above.
Hope you enjoy and please leave comments if you find this interesting or would like to ask questions or discuss related topics.
Quality Share Surfer
The market outlook feels like it has improved a little over the last couple of weeks. There has been quite a bounce since the start of the year, the Fed has signalled more accommodating monetary policy and there seems to be progress of sorts in trade negotiations between the US and China. No doubt this is just a temporary high point before the volatility resumes, but it is starting to feel like the worst may be behind us (touch wood).
2018 was a tough year for many investors, including me. I’m disappointed that my portfolio is down 4% for the year. While this is somewhat better than the wider stock market, it is a weaker performance relative to my benchmarks than I have achieved for the past few years. This leaves me looking for lessons to learn from and questioning whether there is anything about my strategy I should adjust.
I hope everyone had a delightful Christmas yesterday. I’ve just celebrated the second Christmas after nearly two years of writing this blog. I’ve very much enjoyed getting my thoughts out there and feel that the process has improved my investing. I’m hoping that work quietens down a bit next year, as while I still have lots of ideas for stuff to write about, it’s been pretty tough to keep the momentum going recently.
I’m writing this post off the back of the worst week since 2008 for the US stock market. So much for the Santa Rally. This year we have a Krampus Crash and it seems with my focus on high growth momentum stocks and exposure to US tech that I’ve been on the naughty list. Continue reading
While I’m not too worried about the impact that the Brexit outcome might have on my portfolio, it is making my job more ‘interesting’. The result is that I haven’t had much time for blogging and now have two trades to update on: two weeks ago I bought back into Keywords Studios and this week I bought some shares in Diploma. Continue reading
This post is a sequel to one I wrote a few weeks ago about the ‘external perspective’. As I said then, I think it’s important to challenge yourself by looking at investing from different perspectives. I’ve found that this can be a useful way of gleaning insight. I want to follow up my previous post by looking at a more fundamental question for which there are also multiple perspectives: ‘how should you think about your investing strategy?’ Continue reading
The market correction we are currently experiencing is not showing any imminent signs of abating. Significant market corrections can be self-fulfilling in nature, as fear leads to falling prices, which in turn can lead to further fear of further price falls. This vicious circle can happen even if the original fears are not well founded, as I believe to be the case now. It’s hard to predict how long the bearish conditions will last. The fact that valuations are still pretty high compared to historical averages suggests there is scope for prices to fall further. On the plus side, an environment of excessive pessimism seems to be building and I can see a few potential catalysts on the horizon that could lead to a sizeable rally in the not too distant future.
I made my scheduled trade last week, selling Accesso Technologies and buying Auto Trader.
I’ve been very busy for the past couple of weeks with my day job, which has become pretty hectic. This hasn’t left me much time to write blog posts – I’ve restricted myself to simply updating on my trades until things quieten down. I have a few ideas for some more interesting strategy-related posts but probably won’t have time to start getting them down until mid to late November. Stay tuned. In the meantime, I have one trade to update on from last week: RWS Holdings. Continue reading