11 July 2023
By Maynard Paton
I have recorded another episode of The Investor’s Roundtable podcast with fellow investors and good friends Roland Head, Mark Simpson and Bruce Packard:
We talked about Bruce’s investment in shipping and investment group Ocean Wilsons (OCN), my investment in disinfectant specialist Tristel (TSTL) and Mark’s investment in software developer Arcontech (ARC). We also discussed whether private investors should consider asset allocation within their portfolios:
We cover:
- Ocean Wilsons (£10/£360m) from 03m54s:
- Bruce recaps why he owns Ocean Wilsons.
- Possibly selling the ports business, the hedge-fund portfolio and the discount to net asset value.
- Management fees, investment benchmarks and buying major shareholder Hansa instead.
- Downside/upside potential, Hansa not buying more and quality of management correlating with investor returns.
- Tristel (350p/£165m) from 19m55s:
- I recap why I own Tristel.
- Tristel’s competitive advantage, secret ingredients and reverse engineering.
- The US regulatory timescale, shareholder communication and FDA decisions.
- Management share options, market gains in the US and competing against disinfection machines.
- Arcontech (65p/£9m) from 38m16s:
- Mark recaps why he owns Arcontech.
- Cash position, accounting restatements and potential sloppy bookkeeping.
- Absence of management presentations, performance during 2008 and customer concentration.
- Bespoke software, company scuttlebutt and lack of sales growth.
- Asset allocation from 50m56s:
- Correlation theory of asset allocation, a competitive advantage with UK shares and safe-haven investing.
- Personal circumstances, media/adviser influences and when strategies stop working.
Extra links:
- Ocean Wilsons website.
- Tristel website.
- Arcontech website.
- Roland Head’s dividend website.
- Mark’s Small Caps Life newsletter.
- Bruce Packard’s SharePad articles.
Happy listening!
Maynard Paton
PS: The episode was recorded on 6 July 2023.
Disclosure: Maynard owns shares in Tristel.
I have signed up. Good luck.
Thanks Charles. Your support is much appreciated!
Maynard
Hi Maynard,
Just listened to your latest podcast (CCC) and overall it’s very good (thank you). BTW, It’s another example of where our views on the pluses and minuses of a “growth” company are fairly well aligned.
I’d say it’s a great example of why any serious long term equity investor should pay £12.50 a month for your podcasts.
Is 4imprint another one that you might be familiar with?
Thanks Charles for the feedback and encouragement. Glad you liked it and we will try to maintain that standard. Never looked at 4imprint before, but I did notice the shares rallied recently that prompted me to look at that multi-bagger chart! Probably a review candidate for SharePad at some point.
Maynard