Symphony International ($SIHL) 3- Selling at $86.25 +57%

Sold all my Symphony International on Monday at $0.8625.

Discount has narrowed substantially – it’s now got a NAV of $1.16 so trading on a discount of 25%.  When I first invested in this in January 2014 the discount was 45%.

The NAV / discount has only fallen slightly – even though the share has paid out quite a lot 35c.  Underlying assets have done quite well.

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Review of 2014

End of year means time to review how I did.

Overall up c22%, given that the FTSE is slightly down for 2014 that isnt a bad result. As quite a few of my holdings are small cap AIM is down quite significantly about 20% so this makes performance even more positive. This was done with minimal leverage.

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.