Gripes corner

This week’s post is a bit of a rant I’m afraid! I’ve highlighted a handful of fairly common ideas in investing that have managed to get under my skin. They are common but don’t make much sense and I feel compelled to debunk them. Some you could put down to differences in perspective I suppose, but some are just downright wrong. Continue reading

Two steps forward, one step back

After a decent July, this week was a pretty torrid one for my portfolio, which fell 3.4%. This was not really the result of any bad news for my holdings, but appears more due to wider sector rotation away from highly valued growth stocks to cheaper value stocks. Following a timely reader comment on a recent post, I’ve been wondering whether this could be the start of a more prolonged shift. Continue reading

PYPL, PHA bought

The heatwave has been quite something. I’ve been trying to make the most of it, but unfortunately the timing has coincided with a very busy period for me at work. I’ve also become acutely conscious of just how unprepared London’s infrastructure is for heatwaves. Commuting has been particularly unbearable. It’s been more difficult to take advantage of this time to work on the blog. Hopefully the hot weather hasn’t been clouding my judgment, as I think I’d been becoming overly bullish about near term market prospects. That is until Thursday’s and Friday’s falls in US tech stocks brought me back down to earth.

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‘We are all contrarians’

This week I came across an article referencing the recent Shareholder Letter of Longleaf, a value investing fund. This letter contains a familiar treatise on value investing vs growth investing and I wouldn’t say was particularly notable. However, I was struck by a couple of things in this letter. There is a strong emphasis on how value investing is contrarian and unpopular. There is nothing unusual about this view, but unlike other times I have seen it expressed, quality investing was characterised as the ‘popular view’, against which value investing was contrasted. As a self-described quality investor and contrarian, this made me sit up a bit and question: ‘who’s the real contrarian here?’ Continue reading

Buying spree

It feels somewhat uncomfortable writing a post entitled ‘buying spree’, given my current ambition to trade less. However, it seemed appropriate given I bought three new positions this week. Quite a few decent looking opportunities have been cropping up and it seemed foolish not to capitalise on at least some of them. Continue reading

Portfolio Review: July 2018

My portfolio has finally resumed its advance over the last quarter, though the performance has not quite been spectacular. I’ve slowed down my portfolio turnover over the last quarter and am hoping that this small shift in strategy is going to suit the current market volatility a bit better.  Continue reading

Thoughts on market crashes

Nine years into a bull market following the financial crisis, I think many investors are wondering whether the next market crash is imminent. I for one have been fairly preoccupied about this since the end of last year and have been planning to write a post sharing my musings on market timing for quite some time. Can the timing of the next market crash be predicted with any precision at all? Is there anything that can be done to prepare for it, or is it just not worth worrying about?
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