Mining British Empire Securities

Just been looking at BTEM – British Empire Securities.

I am generally impressed – although there is not high enough return for me in itself. I think it should do well over the next few years.  BTEM is a UK listed investment trust specialising in assets trading at less than their real value.

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DUPD – He who turns and runs away….

… Lives to fight another day.

Decided to terminate all positions in DUPD.  

I havent found anything wrong with my thesis originally.  All that has happened is the political situation has deteriorated markedly over the past few days, to the point where protestors are literally manning the barricades across Ukraine.  

DUPD – beginning to realise but price not rising.

Good news – time to post on another of my holdings – DUPD.

This is a highly undervalued Ukrainian property developer.  I have traded in and out over the years luckily getting some of the big rise to 2010 and missing the fall.  My  main entry was 28p back in September 2012. I have added more today at 36p giving me an average price of 31.4p.

London Capital Group – worth more than Net Cash ?

On to another investment – London Capital Group.

Edit 3/2/2018 – this article gets lots of traffic still but I should point out it is now woefully out of date.

These are a spreadbetting company – like IG index – only smaller, much, much smaller.  In fact they only have a market cap of £18m.  My forecast net profit in 2013 is about GBP 0.5m – as ever with my forecasts this is very conservative.  I get it by taking Net income at the half year and adding net income from continuing ops.  I am including £1.8m IT costs for platform change in this and FOS claims charges – again doubled.

Symphony International Holdings (SIHL.L) Music to my ears ?

I have recently (Dec 13) created a position in Symphony International Holdings.  I bought at 74-75c per share.  7% Weight in my portfolio – which for me is medium – not the biggest position but far from the smallest.

This is something of an oddity.  It is a London-listed fund which purports to be a private equity fund.  In fact c76% of its portfolio is in listed Asian equities and cash.

First Post

This is my first post – I hope to blog whenever I have something interesting I wish to say.