Update: Market moves – could have been better, could have been worse….

Quick update on big market moves.

I have been relatively lucky – I am now up 4% for the year (inc dividends).

Comparing this to a fall of 7% in the FTSE 100 ex dividends or 4.5% inc dividends isnt too poor. I have to caveat this as RHM has been suspended ahead of a reverse takeover and Renn universal growth remains suspended pending distributions – so I am not 100% sure what these will ultimately return…

I managed to liquidate much of my biggest position (Ffyfes) on Monday on a high after the large falls, luckily FFY didnt fall and I realised it was only a matter of time before other people realised this and sold it – so I got in first. Its now trading for quite a bit less than I sold it for so to some degree this is a success…

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Selling SCS +4% – poor entry leads to poor exit…

Selling my position in SCS.

As I predicted SCS’s recent RNS stated that sales improved in the final quarter and sales were up 1.4% on last year.

Management profit expectations were in line.

The share price rose from 143 before the announcement to 165 today where I sold.
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New Investment – Titon Group

Bought a bit of Titon group @84p – about a 5% portfolio weight. They make window furniture – handles / vents and extractor fan systems in the UK and Korea.

Stole this idea from ADVFN… Company has a 9.5m Market cap. Balance Sheet is rather healthy – 2.4m cash. 3.8m inventories, 4.9m receivables, 3.2m PPE – of which circa 2.2m is freehold land / buildings, 3.9m liabilities – mostly payables. In total assets worth 10.4m – over the current market cap.
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