HWDN bought

My portfolio had a fairly decent week last week, breaking out more convincingly to new highs. We are in the middle of results season, with five companies in my portfolio reporting this week: Estee Lauder, Paycom, MasterCard, Moncler and Howden Joinery (new buy). All of these reported earnings and revenues ahead of analyst expectations. However, some of their share prices fell on the news, including fairly substantial falls from Estee Lauder and Paycom, presumably as speculators were hoping for even greater outperformance. Thankfully my portfolio did well in spite of this, or I might have felt rather hard done by… Continue reading

Exchange rate respite

The exchange rate headwind I’ve been facing from a strengthening Pound and weakening dollar is starting to show signs of changing to a tailwind. This is providing a welcome boost to my portfolio, which is bouncing around near its highs but still failing to make real progress. I made one opportunistic purchase this week, buying AB Dynamics after it reported some excellent results and a bullish outlook. Continue reading

ADBE bought

The stock markets are starting to pick up a bit again. The shares on the watchlist are picking up too: there are now 35 within 5% of their yearly highs and 55 within 10%. This compares to 18 within 5% and 45 within 10% a couple of weeks ago. My portfolio had a good week and is back near it’s all time highs for the fourth time since volatility picked up late last year – I’m fairly optimistic that this time it can break through and continue its progress. Continue reading

Tech troubles

After very briefly reaching new highs last week, my portfolio tumbled again this week. The fall was instigated primarily by US tech, which after a brief rally on Monday, experienced continued negative sentiment through the rest of the week. There is quite a lot of media attention on the big US platform businesses, calling for regulation in the wake of the Facebook scandal. In my portfolio, all my US stocks took a hit – Amazon in particular after some Trump tweets. While I think data protection issues are a real concern for the likes of Facebook, I think broader calls to regulate or break up the likes of Amazon as an anticompetitive monopoly are a little absurd. Amazon’s disruptive impact on a whole host of retail markets may hurt its competitors, but that’s part and parcel of the competitive process. The overall benefits of this process to the economy, in the form of lower prices and increased convenience for consumers, are enormous. We should be protecting competition itself, not protecting inefficient businesses from competition. That said, I hope that Amazon doesn’t make too many enemies with friends in high places… Continue reading

IGG & BUR bought

I’ve recently been investing a fairly sizeable sum of new capital to my portfolio. The rebalancing required to account for this explains many of the recent transactions in the fantasy fund I use to track my performance. As well as topping up a few existing holdings, I’ve made a couple of new purchases last week: IG Group and Burford Capital. I’ve also sold out of Boohoo for an 8% loss, as the price has broken down to new lows. I expect it to bounce back fairly soon (it reports in April) though I’m going to wait and see from the sidelines rather than hold in hope. Continue reading

Bull market resumes

Things are looking up. In the US at least the stockmarkets look to have resumed uptrends following February’s short correction.  The general mood has calmed down from the euphoric state we were in in January. My portfolio has had a good week and is back near its highs. All of this I think bodes well for returns in the near future at least… Continue reading