Forever Investor | Buy and hold, hopefully forever...

Stocks

Pinstripe Stampede: a short postscript

- August 8, 2014May 16, 2020 - FI comment

I timed my post of two days ago perfectly: no sooner than I had finished trumpeting the sagacity and confidence shown by the AstraZeneca directors in buying shares in their charge, than it promptly deflated…

Stocks

Pinstripe Stampede

- August 6, 2014May 16, 2020 - FI comment

Shortly after the AstraZeneca board's indecently hasty rejection of Pfizer's (a.k.a. the praying mantis) "final" bid a few months ago, I said on Twitter that it would be nice to see some of them put…

Portfolio Management

Portfolio Update: July

- August 2, 2014May 16, 2020 - FI comment

Another negative month (-1.53%) for the portfolio in July and the boring Sell in May and go away theorists are beginning to pop up with their trusty charts and musty data sheets. A lot of…

General

In defence of misers

- July 30, 2014May 16, 2020 - FI comment

Huddled over their steaming bowls of thin gruel counting out their gold coins, it is very easy to criticise misers. By practising something mildly virtuous--thrift--to excess, they appear to miss the point of the money,…

Stocks

Why did Loews spin-off Lorillard?

- July 24, 2014May 16, 2020 - FI comment

While tobacco may not be a pleasant business to be in, not many people would dispute how lucrative it has been. Lorillard shareholders, in particular, will probably have been breaking out the bubbly recently as they digested…

Books

The Little Book That Beats The Market

- July 18, 2014May 16, 2020 - FI comment

The Little Book That Beats The Market, by Joel Greenblatt, is an interesting book but it is indeed little, to the extent that it can be read in one or two sittings. Greenblatt says that his aim is…

Portfolio Management

Market Neutral Funds: for sophisticated investors only…

- July 15, 2014May 16, 2020 - FI comment

Market Neutral funds are one of the more seductive sounding products offered by the Asset Management sector; who would not be tempted by this? The investment objective is to achieve a positive return over a…

Investors

Woodford – The Sequel

- July 11, 2014April 18, 2020 - FI comment

[caption id="attachment_1318" align="alignright" width="150"] By: Adrián Pérez[/caption] As Sylvester Stallone knows, if you find something that works then keep doing it. In the case of his Rocky franchise, this meant that every plot went as…

Valuation

Key Ratios: EBIT to Enterprise Value

- July 9, 2014April 18, 2020 - FI comment

[caption id="attachment_1279" align="alignleft" width="150"] By: JD Hancock[/caption] I didn't even know that this was a ratio, until I read about it over the weekend, but it makes sense and looks useful, and so I am immediately…

Investors

Fundsmith Emerging Equities Trust: Keep Your FEET On…

- July 3, 2014April 18, 2020 - FI comment

[caption id="attachment_1264" align="alignright" width="150"] By: Steve Jurvetson[/caption] Fundsmith, the fund manager run by Terry Smith, has launched a new investment trust conveniently named (for cheap punsters) Fundsmith Emerging Equities Trust (FEET). Hope springs eternal in the…