2016 is almost over so I thought I would go through what worked, what didnt and my plans for 2017.
+33% is OK – FTSE100 is up 14%, 250 up 3% AIM all share 14%. Peak to trough draw-downs across these are about 10% where as my portfolio (OK measured monthly) was only down 5% from peak at its worst.
My review of 2015 is interesting putting this in context. I anticipated that TRB and SIHL would do well but not that I would come up with other good ideas or that TJI would do well.
Continue reading “Review of 2016 + 33%”
Bought a tiny bit of this…
It is a tiny (£2.1m) investment trust.
It has $1.4m (£1.1m) in cash (30/6/2016 HY report) – this doesnt screen well as it is held via a subsidiary….
The rest is a 24% stake in Stopharm and a 16.35% stake held via a convertible bridge loan. This is valued at $6m (£4.8m) in the books based on an indicative offer. In total this gives an upside of over 150%. IF we get to NAV.
Continue reading “Tau Capital – small but good upside potential (100%+)”
Bought some DCI a couple of weeks ago at 7.25 – 4.7% portfolio weight. Picked up more today at 8p – now a 6.8% portfolio weight. They released an RNS in Mid November – basically selling property and paying down debt. I thought this significantly derisked the company. On Friday 2nd they announced an EGM – they are moving into liquidation mode.
They are a resort development company. They have just sold Playa Grande at 10% below Nav and paid down debt. They now have a debt to total assets ratio of 18.5%. Factsheet is here.
#EDIT 8/4/2017 – sold out flat – concerned this might take longer than expected – below may still hold though…
Continue reading “Dolphin Capital $DCI – bit fishy but worth a try…”