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You should read the below disclaimer carefully before reading any of the articles on my blog.

Here are 6 points for you to read carefully:

  1. This website is simply a blog or diary to educate from my own triumphs and mistakes. Occasionally I detail what I've bought, sold or (even) shorted historically along with my reasons. 
  2. I am not a "tipster". Tipsters are regulated by the Financial Conduct Authority in the United Kingdom (FCA) and I am not regulated and so am not an authorised "tipster". I am simply a investor/trader who from time to time may state his positions.
  3. I am not trained to nor allowed to give  "individual investment advice".
  4. I cannot give any specific advice, as to whether you should buy, hold or sell any individual share.
  5. Any share buys or sells stated on here will always be historic, based on my personal (and not doubt flawed) view. Don't copy me- always look at your individual circumstances, understand the risk, do your own research and come to your own view. 
  6. Information published on the website is given in general terms only and does not constitute personal advice to any individual.  Investors are responsible for formulating and applying their own strategies based on their own personal circumstances. The author of the website recommends that you obtain independent financial advice from an FCA-authorised intermediary before investing money.  Information given in previous blogs published on the website may become outdated and should not be relied upon unless confirmed by the most recent published blog.
Your reading of all of the blogs written on the website is on the basis that you accept the above disclaimer in full.

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How I pick shares- Part 5 (Management)

Bad directors rarely become good directors  Richard Crowe (aka the Cockney Rebel) I listened to an excellent  podcast  recently on PI World with well known investor Richard Crowe a.k.a. Cockney Rebel. He has developed a specialism in buying shares in turnaround situations. In the course of the podcast he talked about several companies which he has invested in recently and how the common denominator was good management. It is a truism that if a company is well run then the cards are stacked in its favour. Conversely bad management means that any company, however great its ideas, will have an uphill struggle if it wants to succeed. To quote a rather memorable phrase from investor Nigel Wray,  a fish usually rots from the head . So what makes a good manager? Warren Buffett has spoken extensively about this. He wrote about Tom Murphy of Cap Cities- such an example: I mean, no one had either the ability -- no one could top his ability or integrity, in terms of the way he ran Cap Cities for

If you could hold 5 stocks for 5 years....

Our favourite holding period  is  forever (Warren Buffett) Like many of you I suspect, I tuned in* to to hear the latest pronouncements of the Sage of Omaha last weekend, as Warren Buffett gave his verdict on the situation in which we now find ourselves. Even at the age of 89, Buffett's analysis remains as sharp as ever.  There were three themes that struck me: Confidence in the American Economy long-term For regular readers of his letters to investors, this is a common theme. That is why for many investors he advocates considering investing in a simple Index Tracker of the S&P500 as opposed to betting on individual shares. He is a big fan of the ingenuity, creativity, diligence and resilience of the US economy . It is encouraging to see that this latest crises has not shaken his view. The importance of cutting losses  He admitted mistakes in his recent purchase of airline stocks- and in his case it wasn't just three grand of Easyjet (EZJ) shares. When you take 10% stakes

How I pick shares- Part 3 (Hidden Value)

Value investing is at its core the marriage of a contrarian streak and a calculator. - Seth Klarman Thank you for the encouraging comments that I've received in the last couple of blogs*. It's nice to find out what I write is of help to people. Just to recap, in the first part I looked at how  gathering knowledge  is a good thing to start with. In essence the better researched that you are, the better chance you have of success. As Peter Lynch put it memorably, If   you don’t study any companies, you have the same success buying stocks as you do in a poker game if you bet without looking at your cards. In the second part, I began to look at  value  and how you can start to find those undervalued companies that have a decent chance of growing into their true value.  You actually need to train yourself to think independently of the herd, because if everyone else had thought they were undervalued and had bought the stock, the price would be a lot higher than it is. This is why it