Enterprise Inns (ETI)
Testing the model Recently, as regular readers will probably have noticed, I've been taking a subtly changed sort of approach in my blog posts. Most of this comes down to red, whose approach I have...
View ArticleRotala (ROL)
Back to Buses My post on Stagecoach last week reminded me of a company I remember having looked at late last year - Rotala, a small cap bus operator in the UK. It's a refreshing company, probably...
View ArticleHowden Joinery (HWDN)
Getting some credit Howden have been one of the strongest performers in my portfolio and are one of its formative members, but I mustn't let nostalgia and the fact I like the company get in the way of...
View ArticleBritish Polythene Industries (BPI)
A good year The portfolio is leading a blessed existence at the moment, with results coming in above expectations left right and centre and most of the shares performing well above the FTSE. A...
View ArticleCommunisis (CMS)
First mover advantage I bought Communisis after much dallying back in 2011, a choice that's proven to be rather fortuitous - the share price has roughly doubled in that time as the business has gone...
View ArticleJames Latham (LTHM)
Slow and safe Putting James Latham's figures into my spreadsheet, one thing was immediately apparent - this is a business which doesn't really change very much. The figures are pretty consistent for...
View ArticleDewhurst (DWHT)
Late to the party If there's one of the deadly sins which evidently applies to me, it's pride. When it comes to investing, the only thing that matters is extracting the best return and making the best...
View ArticleJohnson Service Group (JSG)
First glance, second questions Like Dewhurst, then, I've pinched the idea for Johnson Service Group off a tweet - this time from the Value Team and Richard Beddard. Disappointingly, I had to change the...
View ArticleFinsbury Foods (FIF)
Accounting engineering Looking back at some of the companies I've covered, I noticed something interesting - Finsbury Food, who I talked about in January, have made a big change. They've sold off their...
View ArticleFyffes, Tricorn, Expansys
Quick-fire thoughts Looking at interesting companies and then hitting a roadblock is always a bit disappointing, but perhaps there's something to be said for being extra prudent with your money when...
View ArticleCastings (CGS)
Hard assets A hat-tip at the start again to red and Richard Beddard, who recommended Castings to me - explicitly by the former and implicitly by the latter having it in his portfolio for a rather long...
View ArticleChamberlin (CMH)
This time it's different Continuing with the manufacturing theme here, today I'm looking at an company ostensibly similar to Castings. Chamberlin is also in the business of castings and related...
View ArticleVislink (VLK)
Behind the scenes Vislink has been recommended to me by a few different people now and mentioned by a couple of bloggers (I know Pauly Pilot is keen and I've a hunch there's someone I've forgotten..),...
View ArticleCupid (CUP)
Going dutch Something I suspect lots of investors have to grapple with is the seemingly age old question of whether it's appropriate - or even, if it's an issue at all - to invest in companies you have...
View ArticleTricorn (TCN)
Synergy and strategy Call with management It's not often I speak with the management of the small cap companies I cover on my blog, but last week I was contacted by Tricorn IR and scheduled a call with...
View ArticleAlbemarle / H&T (ABM)(HAT)
A missed opportunity It's always difficult looking back and trying to glean lessons for things in the future - the past is so inherently noisy that I wonder if many over-rationalise their losses and...
View ArticleMolins (MLIN)
The pendulum swings I remember Molins as a perennial stalwart of the value investing screens I peruse - it's been almost a year and a half now since I took a first look at them. Of the three thematic...
View ArticleGreggs (GRG)
Value company, value stock Greggs is a company well known by most in the UK - it's a high-street (and increasingly off-high street; we'll come to that later!) baker famed for catering towards the hard...
View ArticleCar Dealerships (VTU, CAMB, LOOK, PDG)
Part 1: Introduction and basic value I like doing sectoral comparisons between companies. I think most of us intuitively understand that, at the most basic level, similar companies should command...
View ArticleCar Dealerships (VTU, CAMB, LOOK, PDG)
Part 2: Dissecting returns See part one here: this leads directly on. Introduction I finished part one, after a brief introduction and a discussion of the industry, with a soap opera-esque - ok,...
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