H1 2021 Review / Portfolio +13.8%

Thought I would do a review of where the portfolio stands.

As at end June I am +13.8% for the year, roughly matching the FTSE AS at c12%. it has been far more volatile than is usual, pre-fed comments on tightening sooner than the market expected, I was up closer to 20%. The volatility is driven by the large exposure to natural resource co’s and volatility resulting from their underlying commodity feeding through to share prices, which are, in turn, even more volatile.

Continue reading “H1 2021 Review / Portfolio +13.8%”

Q1 Portfolio/Performance update (+11%) Coronavirus and thoughts on where to go from here

Lots going on in the portfolio so I thought I would give a quick update.

At the end of Q1 I was +4% ytd, now (14/4/2020) I am c+11%.  This should be compared to the index which is -c22% now, at the low I was down c5% for the year. I feel a little bad posting this as lots of this is from non-usual (for me) trades… Many of these, I put on Twitter, unfortunately, I can’t post everything as it may move prices against me, particularly where I only sell half.  I know many of you are not twitter followers.  If you would like an e-mail when I tweet there is a service for that here.

Continue reading “Q1 Portfolio/Performance update (+11%) Coronavirus and thoughts on where to go from here”

Exited Beximco $BXP -4% Bangladesh listing falling fast

EDIT 16/2/2020 – I reentered as the underlying bounced back.  I posted this on twitter – follow me there.

I have exited this – the Bangladeshi listing has fallen. It was c80p a share when I bought in – it is now 55p -31% and the UK listing is down c4%.  I have therefore exited.

There are rumours this is due to an accounting issue – I doubt this, the company pays good dividends and has been in operation a long time.

But I cant ignore the risk so for now I am staying out until the discount opens up again.

I will watch and wait.

Beximco Pharma – Bangladeshi Pharma at a discount to local value

Got this idea from Mello stock slam.  I quite like it, bought a just under 3% weight at 42.9 earlier in the week.

This is a Bangladeshi Generic Pharma GDR listed on AIM.  There is a substantial discount to the listed Bangladeshi co which is trading at the UK equivalent of 74p – a c40% discount to the Bangladeshi company.

There have been lots of fly-by night overseas domiciled companies on AIM.  I don’t think this is one of them.  Firstly the sector is pharma – highly sensitive and regulated – not the ideal place to operate a scam.  Secondly, the company was founded in 1974 – so it has been going quite a while.  This is one of the biggest / most liquid companies in Bangladesh.

Continue reading “Beximco Pharma – Bangladeshi Pharma at a discount to local value”