Scores on the doors…drumroll please…the portfolio this year has return to form with a very pleasing 25.6% return and a 3.9% dividend yield. This has been the best year on record although as a friend pointed out, it was definitely a year to be overweight UK equities with the FTSE strongly outperforming the S&P 500. […]
2025 Annual Review – A Portfolio Re-Architecture Read More »
Every January, investors conduct the same familiar exercise – an exercise which is rapidly approach again. Twelve months of market activity are compressed into a neat sequence of charts and percentages, then we draw conclusions with an air of finality that the underlying evidence does not support. The problem is not that annual reviews exist.
A new learning from an old lesson. A 0.5% position can treble in value and your bottom line will barely move. If the same thing happens to a 5% position, you’ll be dining out for weeks. Your job as a portfolio manager is to react to reality, not cling onto faint hopes. In the third
Fewer, Better, Bolder — Q3 2025 Portfolio Review Read More »
The Investor Summit 2025, held on the 13th August, will remain in my memory as a remarkable day. Not because of anything I did, but because of the extraordinary effort and commitment of Peter Higgins and the Copia Digital team, who made it all possible. More than 300 attendees gathered under a single roof, creating
Investor Summit 2025 – A Triumph of Vision and Hard Work Read More »
What a six months it’s been! I can hardly believe we’re already in July after what seems like a non-stop whirlwind of events – both personal and geopolitical. We’ll start with the good news, being that in June of this year I officially became the Senior Bid Manager in my team, taking over from a
In a world fixated on speed, volatility, and the illusion of instant returns, the true edge in investing remains unchanged: patience, discipline, and long-term thinking. It’s easy to be swept up in the noise – social media trends, algorithmic trades, and investment fads that vanish as quickly as they rise. But as any seasoned investor
Investor Summit 2025: Why Long-Term Investors Should Be Paying Attention Read More »
There is, among novice investors, a persistent tendency toward feverish impatience. When markets tremble, headlines blare, and portfolios lurch, the inexperienced are seized by a dangerous impulse: to act immediately, and often unwisely. Yet it is precisely in such moments that the wiser course is often one of stillness. When global markets collapse, even the
Navigating Volatility: Lessons from the Classics Read More »
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 »
Before we begin, I must extend a word of apology to regular readers for my absence for the past three months. Life, as it sometimes does, has gathered pace – not least due to the demands of a recent promotion in my professional role, as well as the growing commitments of the podcast. Though I
Steady Hands and Seasoned Judgment: Meditations on the Spring Investment Landscape Read More »
The world of investing is, by its very nature, a realm of uncertainty. No matter how sophisticated our tools, how robust our strategies, or how informed our decisions, the future remains fundamentally unknowable. Yet, paradoxically, it is within this uncertainty that great opportunities lie. The art and science of investing hinge not on eliminating uncertainty
Embracing Uncertainty: The Investor’s Path to Acceptance 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 »
As the sun sets on 2024, my approach to investing has again been characterised by resilience and stewardship. My efforts to diversify my portfolio geographically have continued, leading to a year-end weighting of 68.9% towards UK equities, 9.3% US equities, 7.3% Asian equities, 2.8% Swiss equities, 1.1% European equities, and 10.6% cash, including bonds. While
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 »
Before making on start on this next article, I would advise going back and making sure you’ve digested part one of this series if you haven’t already. Part one lays the essential foundations of the series and can be accessed via the following link: Thinking like a long-term investor: Part 1 of 2 Human nature
In today’s article, I want to expand on what I mean when I say that I’m a long-term investor and give some tips and tricks I find helpful for both cultivating and sticking to, this mindset. In my experience, less “trading” activity and longer holding periods have generally led to superior results, with my largest
Thinking like a long-term investor – Part 1 of 2 Read More »
