Hot Features
Premium
Trade smarter, not harder: Unleash your inner pro with our toolkit and live discussions.
At the end of the second quarter of 2018 it’s time to review where the shares I’ve written about in my Newsletters have got to. On the whole I’m quite pleased, but Connect Group fell a lot in the quarter (following which I trebled my holding)
In the tables below I present the returns after taking the hit on broker costs, stamp duty and bid/offer spread.
You can read the Newsletters I wrote at the time of purchase to gain an idea of the logic behind the decision.
(Some of you have joined us recently so, in case you are not familiar with them, I briefly describe the criteria for my portfolios following the portfolio performance tables.)
The 2013 NCAV portfolio
| Company | Purchase date | Purchase price | Divs to 30 June 2018 | Price 30 June 2018 | Return to 30 June 2018 | ||||
| French Con. | 25.7.13 | £0.3047 | zero | Sold July 2015 £0.4378 | 44% | ||||
| Caledonian T | 25.7.13 | £0.70 | zero | £2.60 | 271% | ||||
| Fletcher King | 6.8.13 | £0.30 | 14.25p | Sold June 2016 for 46p | 101% | ||||
| Northamber | 22.8.13 | £0.287 | 1.6p | Sold Oct 2016 £0.303 | 11% | ||||
| Titon | 5.9.13 | £0.379 | 6.5p | Sold May 2016 £1.06 | 197% | ||||
| Mallett | 12.11.13 | £0.7682 | 12.7p | Sold Nov 2014 £0.60 | -5% | ||||
| AVERAGE | 103% |
The 2014 NCAV portfolio
| Company | Purchase date | Purchase price | Divs to 30 June 2018 | Price 30 June 2018 | Return to 30 June 2018 | ||||
| Holders Tech | 10.10.14 & 3.11.14 | £0.47 | 1p | Sold March 2017 £0.33 | -28% | ||||
| Airea | 4.11.14 | £0.1195 | 0.9p | Sold Sept 2016 £0.309 | 166% | ||||
| Northamber | 17.11.14 | £0.4265 | 0.7p | Sold Oct 2016 £0.303 | -27% | ||||
| Caledonian T | 30.12.14 | £1.39 | zero | £2.60 | 87% | ||||
| AVERAGE | 50% |
The 2015 NCAV portfolio
| Company | Purchase date | Purchase price | Divs to 30 June 2018 | Price 30 June 2018 | Return to 30 June 2018 | ||||
| PV Crystalox | 15.1.15 | £0.122 | zero | Sold Dec 2016 £0.237 | 94% | ||||
| Arden Partners | 1.9.15 | £0.422 | zero | Sold May 2018 £0.364 | -14% | ||||
| Northamber | 4.9.15 | £0.443 | 0.4p | Sold Dec 2016 £0.303 | -31% | ||||
| AVERAGE | 16% |
The Buffett-style portfolio
This type of share is rarer than the others, and so I will combine all years. Unfortunately I have only one company so far – I’m working on it though.
| Company | Purchase date | Purchase price | Divs to 30 June 2018 | Price 30 June 2018 | Return to 30 June 2018 | ||||
| Dewhurst | 9.4.14 | £3.18 | 45p | £5.25 | 79% | ||||
| AVERAGE | 79% |
(I bought some more of Dewhurst in June 2014 at £3.11, December 2014 at £3.75 and November 2017 at £5.46).
Modified price earnings ratio portfolio 2015/16
| Company | Purchase date | Purchase price | Divs to 30 June 2018 | Price 30 June 2018 | Return to 30 June 2018 | ||||
| Haynes | 11.2.15 | £1.159 | 22.5p | £2.36 | 124% | ||||
| AGA | 11.3.15 | £1.002 | zero | Taken over Jun 2015 £1.456 | 45% | ||||
| Hogg Robinson | 10.4.15 | £0.4709 | 2.37p | Sold Jun 2016 £0.656 | 44% | ||||
| MS International | 3.7.15 | £1.86 | 19.25p | £2.24 | 31% | ||||
| BHP Billiton | 24.9.15 | £10.43 | 127p | Sold May 2018 £16.90 | 74% | ||||
| TClarke | 5.11.15 | £0.7916 | 9.2p | £0.802 | 13% | ||||
| Premier Farnell | 8.4.16 | £1.222 | 3.6p | Taken over 20.6.16 £1.632 | 36% | ||||
| AVERAGE | 52% |
The AGA holding was doubled 30 April at a price of £0.9466.
Modified price earnings ratio portfolio 2017
| Company | Purchase date | Purchase price | Divs to 30 June 2018 | Price 30 June 2018 | Return to 30 June 2018 | ||||
| Braemar | 28.6.17 | £2.848 | 20p | Sold June 2018
£2.639 |
0% | ||||
| Caffyns | 10.8.17 | £5.012 | 7.5p | £4.00 | -19% | ||||
| Connect | 27.9.17 | £1.046 | 9.8p | £0.306 | -61% | ||||
| MS Intern | 14.11.17 | £1.84 | 1.75p | £2.24 | 23% | ||||
| AVERAGE | -14% |
The return reversal portfolio
| Purchase date | Purchase price | Divs to 30 June 2018 | Price 30 June 2018 | Return to 30 June 2018 | |||||
| Havelock Europa | 20.5.15 | £0.14609 | zero | Sold Dec 2016 £0.0915 | -37% | ||||
| AVERAGE | -37% |
The 2017/18 NCAV portfolio
| Purchase date | Purchase price | Divs to 30 June 2018 | Price 30 June 2018 | Return to 30 June 2018 | |||||
| Caledonian T | 7.11.17 | £1.23 | zero | £2.60 | 111% | ||||
| AVERAGE | 111% |
The 2018 modified cyclically adjusted price-earnings ratio portfolio
| Purchase date | Purchase price | Divs to 30 June 2018 | Price 30 June 2018 | Return to 30 June 2018 | |||||
| Connect | 14.6.18 | £0.285 | zero | £0.306 | 7% | ||||
| AVERAGE | 7% |
Brief description of criteria for the portfolios
Shares are allocated to portfolios designed around ideas flowing from research conducted over many years when my PhD students and I asked the question “what works in investment?”
These investigations were often inspired by the ideas of great investors such as Benjamin Graham.
More detail on these ideas is presented in earlier posts (if you put key words into the search box those Newsletters will appear).
Net current asset value, NCAV, criteria
- Current asset val………………….To read the rest of this article, and more like it, subscribe to my premium newsletter Deep Value Shares – click here http://newsletters.advfn.com/deepvalueshares/subscribe-1
