Must read: Extremely wise words from Marc Andreessen on how to grow a (Tech) Company
It’s half-year report time:
TGV Partners fund (among other with Grafenia Plc as new position)
Rob Vinall’s RV Capital (AddLife and PSG as new positions)
A few thoughts on Overstock.com
Best Buy is thriving again despite Amazon. A blue print for others ?
The UK Value Investor with 4 rules for selling stocks
And don’t miss Wexboy’s Half year update
For several personal reasons (don’t worry, all of them VERY positive !!), I already have less time and will have even less time for detailed company analysis in the future. So the question for me is: What do I need to do with my portfolio (and the blog)?
A few questions I have been asking myself were:
- have more positions to diversify or should I have less positions to concentrate on the remaining ones ?
- allocate more money to other money managers or even start investing into ETFs ?
- try to focus on less risky stocks ?
- just do shorter company analysis and focus on the essentials ?
- or even go back to a more mechanic approach (BOSS Score) ?
- focus more on my Circle of competence and skip trying to extend it ?
- Or even focus only on a small universe of the highest quality stocks ?
- increase my minimum holding period to slow down turnover ?
- Avoid “Higher maintenance” positions like M&A arbitrage etc ?
- Do more “shadowing” of investment managers I admire ?
- What should I do with the blog ?
-Performance 6M 2018:
In the first 6 months of 2018, the Value & Opportunity portfolio gained +1,45% (including dividends, no taxes) against -2,88% for the Benchmark (Eurostoxx50 (Perf.Ind) (25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%)).
Some other funds that I follow have performed as follows in Q1 2018:
Partners Fund TGV: +4.68%
Squad European Convictions +2,22%
Ennismore European Smaller Cos +1,72% (in EUR)
Frankfurter Aktienfonds für Stiftungen -0,54%
Evermore Global Value -0,39%
Greiff Special Situation -0.92%
Squad Aguja Special Situation -5,45%
Paladin One +1,8%
Dom Security was a French small cap that I discovered 2 years ago. My thesis back then was that the underlying business was attractive, that profits will recover and that I will own this “Boring” stock for a long time.
Well, almost exactly 2 years after I have invested, Dom Security came out with some news a few days ago.
The good part: EUR 75 Tender offer (10%)
Dom is planning a tender offer (share buy back) offer for 10% of the outstanding shares at a price of EUR 75 per share. Free float is currently around 30%.