My Portfolio

31 March 2019
By Maynard Paton

Happy Sunday! I hope you continue to find my Blog useful… and that your shares have rebounded following last year’s rough market.

My portfolio has advanced during the last three months — although not as much as the wider indices.

Notable price gains from Bioventix and FW Thorpe have been sadly offset by the ongoing collapse at Tasty and sluggish performances from many of my other holdings.  

The swings and roundabouts have meant that, for the first quarter, I am up only 3.9% versus a 9.5% gain enjoyed by the FTSE 100. 

Let me now explain what has happened within my portfolio during January, February and March.

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01 January 2019
By Maynard Paton

Happy 2019! I hope you coped well with last year’s rough market and that you continue to find my Blog useful.

The major development for me during 2018 was starting to write articles for SharePad. No longer can I call myself a full-time investor who has no other income than capital gains and dividends!

Nevertheless, I do continue to depend upon my dividends — so I am still a full-time-ish investor.

For the time being at least, I do not have to think too much about capital gains… which is just as well given the recent market downturn. 

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03 October 2018
By Maynard Paton

Happy Wednesday! I hope you continue to find my Blog useful… and that your shares served you well during the summer.

Unfortunately, my portfolio has not exactly sizzled during the last three months.

In particular, notable price advances from Andrews Sykes and Mincon were offset by further declines at System1 and Tasty. Elsewhere, highly rated holdings FW Thorpe and Tristel have come off the boil, while stagnant positions Mountview Estates and Oleeo remain, well, stagnant.

It has all meant that, nine months into the year, I am up 4.4% versus a 1.0% total return produced by the FTSE 100*. No doubt about it, my gains this year have been far from stellar. But following two years of lagging the index, I will happily take my current outperformance for 2018.

Recent RNSs from my shares have been broadly positive. Once again there was a mix of satisfactory to lacklustre statements, and I am glad no major horror stories emerged.

And I did venture to one AGM, which helped prompt my portfolio’s only Q3 trading.

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30 June 2018
By Maynard Paton

Happy Saturday! I hope you continue to enjoy my Blog… and that your shares have been sizzling higher during the recent hot weather!

My portfolio has been simmering nicely throughout the last three months. In particular, positive second-quarter contributions from Bioventix and Getech have now added to the decent first-quarter efforts of M Winkworth, Mincon and Tristel. However, System1 has sadly joined Tasty as a notable 2018 loser.

It has all meant that, half way through the year, I am up 6.7% versus the FTSE 100 returning 1.7%. I am glad to be in positive territory following a tricky Q1, and I trust I can maintain a gap to the market during the second half.

Recent RNSs from my shares have been broadly positive. Once again there was a mix of statements, ranging from very satisfactory to rather lacklustre, and I am very happy that no major horror stories emerged!

There was one underwhelming update, though, which prompted a disposal and my portfolio’s only Q2 activity. Let me explain what has happened.

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30 March 2018
By Maynard Paton

Happy Easter! I hope you continue to find my Blog useful… and that your portfolio has coped well with the sliding 2018 market!

So far this year, my portfolio has extended its behaviour from 2017. In short, positive contributions from a number of holdings (notably M Winkworth, Mincon and Tristel) have been offset by one substantial loser (Tasty).

It has all meant I have started 2018 down 0.3% versus a 7.2% drop suffered by the FTSE 100. I suppose losing less money than a falling market is not too bad, although I think I would prefer to be thrashed by a rising market — and actually make money.

Anyway, I am glad the RNSs from my shares have been broadly positive. There has been a mix of impressive to acceptable-in-the-circumstances results, with only my smallest holding — System1 — issuing fresh disappointing news.

My portfolio activity has been limited to just one top-up. Let me outline what has occurred.

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01 January 2018
By Maynard Paton

Happy 2018! I trust you have enjoyed a successful year’s investing and that you continue to find my Blog useful.

I’m currently celebrating my third anniversary as a full-time investor — and I am reasonably satisfied with how things have turned out so far.

Indeed, with no income other than my capital gains and dividends, I am pleased my portfolio has recorded a positive performance during each of the last three years.

However, the three years have not been all plain sailing. In particular, I did wonder whether foregoing an annual salary was such a bright idea during the mid-2016 Brexit lows. Still, a recovery eventually emerged that has continued throughout 2017.

All that said, I’m disappointed to have under-performed the market for the second consecutive year. Unfortunately for me, a decent collection of 2017 portfolio winners was counterbalanced by one big loser.

Let me explain what happened.

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29 September 2017
By Maynard Paton

Happy Friday! I hope you continue to enjoy my Blog… and that your shares have fared well during the summer.

After experiencing positive first and second quarters, my portfolio has maintained its gains and its performance has improved to 14.0% for the year so far.

Furthermore, following an inactive second quarter, I have since dusted off my share-dealing account and executed a few buys and sells.

I have top-sliced one holding and added to two existing holdings. More on those trades a bit later.

Sadly, I have to admit that — once again! — a lot of my time of late has been absorbed by matters outside of investing.

While I’ve managed to keep on top of the news from my own portfolio, I’ve still not had the chance to study other companies and publish fresh watch-list reviews.

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30 June 2017
By Maynard Paton

Happy Friday! I hope you continue to find my Blog useful… and that your portfolio is still performing well during 2017.

After experiencing a buoyant start to the year, I am pleased my investments have generally held on to their value during the last few months.

All in all, the recent news from my portfolio has not been too bad, with a few minor share-price gains helping my performance improve to 9.5% for the year so far.

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31 March 2017
By Maynard Paton

Happy Friday! I hope you continue to find my Blog useful… and that your portfolio has started 2017 in good shape!

After experiencing a somewhat mixed performance during 2016, I am pleased my investments have generally performed well during the last few months.

Certainly the two new holdings I acquired last year — BrainJuicer and Bioventix — have helped powered my portfolio higher of late. And up until the other day at least, this full-time investing lark was becoming quite comfortable…

But then came another reality check.

Sadly I’ve been humbled yet again by a profit warning — on this occasion from Tasty.

Still, I have survived various ups and downs before…  and I need no reminding that it was only nine months ago that my entire portfolio was looking rather sorry.

Anyway, I’m up 7.4% so far for 2017, and my portfolio has not witnessed too much trading during the last three months. I bought one brand-new holding and sold another holding entirely.

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01 January 2017
By Maynard Paton

Happy 2017! I trust you have enjoyed a successful year’s investing and that you continue to find my Blog useful.

I’m currently celebrating my second anniversary as a full-time investor — and I must admit to mixed feelings about how things have turned out so far.

True, I enjoyed a successful 2015 with my portfolio gaining 18%. But 2016 saw my investments collectively languish against a market buoyed by rebounding miners and post-Brexit USD-earners.

I have to confess, watching my portfolio slide 10% during the first six months of 2016 was not a happy experience. Still, a recovery eventually emerged and at least I can enjoy a positive — if hardly spectacular — full-year performance.

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30 September 2016
By Maynard Paton

Happy Friday! I hope you continue to find my Blog useful… and that your portfolio has recovered following the Brexit turmoil!

I wrote in my last portfolio update that 2016 was fast becoming a somewhat grim year for me. I was down 5% at the end of March and then 10% down at the end of June…

…but the ‘Brexit bounce’ has since brought me back to break-even. That’s hardly a fantastic performance given what the wider market has achieved, but it’s a much better position than just three months ago.

Anyway, during the third quarter I bought a new share, topped-up an existing holding, top-sliced another existing position, and sold out completely of a further existing position.

Furthermore, I’ve spent some time evaluating my longer-term record of stock-picking… just to make sure that I have actually done reasonably well at this investing lark!

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30 June 2016
By Maynard Paton

Happy Thursday! I hope you continue to find my Blog useful… and that your portfolio has fared much better than mine during the Brexit turmoil!

Yes… a few of my shares have been thumped of late and, for me at least, 2016 is fast becoming a somewhat grim year. At the end of March I was down 5% and by today’s close I was down 10%.

I must confess, the decent gain I enjoyed during 2015 now seems like a lifetime ago :-(

Still, markets never go up — or down — for ever.

I mean, Warren Buffett always reckons we should “be greedy when others are fearful”…

…and all that me, you and every other private investor can do in times like these is to simply find decent companies at attractive valuations and just hold them for the long haul.

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