There are moments in investing when the numbers aren’t the most difficult thing to interpret. We all have access to data, most of us can spot trends, and the market provides a constant barometer of our decision-making. Sometimes, though, the real challenge comes from our conviction softening, not because a single fact has changed, but […]
In times of market tumult, when the daily headlines scream fear and the broader public scurries for the exits, the seasoned investor remains calm. For those of us with a long-term horizon and a preference for businesses of enduring substance, such periods offer something truly rare: the opportunity to acquire quality at a discount. In
How to Find Quality Companies During a Market Downturn Read More »
As an investor, I am constantly assessing whether the companies I own align with my financial objectives and investment principles. Although I consider myself a long-term investor, I will consider letting go of an investment if the business begins to face significant headwinds or persistent operational issues. Today, I’d like to share a little about
Time to Let Go: Why I’ve Moved on from S4 Capital and NCC Group Read More »
In last month’s article, I published a brief overview of the UK’s investment budget and explored how some of the changes may impact the investing landscape. Since then, reactions to the budget have turned decidedly sour, with most investors now resigning themselves to the view that the new Labour government are saying one thing and
How to Build an Investing Watchlist: A Timeless Guide for the Prudent Investor Read More »
Having explored the idea of a quality company in my previous article, I wanted to follow up with an important caveat: price matters and my own approach is now more focussed on investing quality at a reasonable price than simply buying cheap companies. Without working to determine a fair valuation for an asset, an investor
“In the short-term the stock market is a voting machine but in the long-term it is a weighing machine.” Warren Buffett To some degree, I have always cared about ensuring that my approach is focused on investing in quality companies and have therefore used quality as a driver for what to buy and sell. Over
Earlier this week, a reader contacted me on social media with a question about the repayment of debt compared to paying or maintaining a dividend. Although I initially answered privately, I wanted to take the opportunity to write a longer response which is better suited to an article. “Companies like Vodafone and Halfords which have
Ask most private investors about their opinion of investing in small companies and they will happily tell you that ‘investing in small caps exposes investors to an information mismatch which enables outperformance’. The idea is a simple one. Big funds with professional analysts have too much capital to deploy to worry about investing in companies
Anyone with half an eye on financial markets will have seen the headlines about Silicon Valley Bank becoming insolvent over the last few days. The situation is rapidly escalating and with it the entire financial press and half of my financial contacts have become consumed by producing coverage. I am joining them. In this article,
Long-time readers of this site will remember my failed investment in Carillion – a leading international construction businesses that collapsed under the weight of its debts and ended up in bankruptcy back in 2018. At the time, I largely penned up the collapse of Carillion to poor management and a weak balance sheet but recent
A long-standing reader of my blog called me last week asking whether I was going to be writing an annual update on General Electric. For those of you not in the know, I’d recommend reading my original post detailing the history of the company (you can find a link here) and then reading this article
Every year since 1977, Warren Buffett has released a shareholder letter. In recent years, it’s been a highlight of the financial calendar with investors eagerly poring over his words to glean his thoughts on everything from bond valuations to the dangers of debt. I’m a big fan of Warren Buffett – I like his sensible,
Every year since 1977, Warren Buffett has released a shareholder letter. In recent years, it’s been a highlight of the financial calendar with investors eagerly poring over his words to glean his thoughts on everything from bond valuations to the dangers of debt. I’m a big fan of Warren Buffett – I like his sensible,
Unless you’ve been living under a rock recently then you’ll be aware of the problems facing INTU; a giant retail landlord which is facing a catastrophic collapse in the face of declining revenues and a mountain of debt. As a landlord, INTU has been in the business of buying and developing giant shopping centres. These
Around a year ago, I wrote an article on General Electric, the American conglomerate that was once one of the world’s largest and most valuable companies. After slumping revenues and rocketing debts crippled both the company and its share price, the CEO was replaced and the company embarked on an ambitious turnaround plan to pay
