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satish mittal
Posted: 16 June 2018 09:35:12(UTC)

Joined: 21/04/2006(UTC)
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Please alert me if there are signs of rotation from growth to defensive. Virtually all funds/ ITs of Bailliford Gifford still going up though more investors in EWI seem to be selling (HL).
Satish
1 user thanked satish mittal for this post.
c brown on 19/06/2018(UTC)
Chris Ould
Posted: 17 June 2018 12:43:49(UTC)

Joined: 13/01/2014(UTC)
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Mr Helpful;63929 wrote:
Some adjustments during this week :-

Added
Real Estate : SRE


Mr Helpul,

Been thinking about adding a direct German property trust / company to those already held via TRY...specifically PSDL. Do you favor SRE because of the focus on commercial warehouse space, as opposed to residential?
Mr Helpful
Posted: 17 June 2018 14:51:50(UTC)

Joined: 04/11/2016(UTC)
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Chris Ould;63972 wrote:
Mr Helpful;63929 wrote:
Some adjustments during this week :-

Added
Real Estate : SRE


Mr Helpul,

Been thinking about adding a direct German property trust / company to those already held via TRY...specifically PSDL. Do you favor SRE because of the focus on commercial warehouse space, as opposed to residential?

Yes, already heavily exposed to Residential elsewhere.
Secondly, and this is a poor reason for the total return focused investor, the yield helps offset the dismal yield on Bonds for the defensive side, while we wait for whatever opportunities Stock fluctuations might bring.
With Real Estate find investors spoilt for choice with way too many potential candidates.
We can't buy them all !!!
SRE initial position is quite small with plenty of downside risk assumed for possible topping up later; so don't presume a brilliant masterstroke.
Figures for PSDL quite impressive, but history short ?
3 users thanked Mr Helpful for this post.
Chris Ould on 17/06/2018(UTC), what me, worry? on 18/06/2018(UTC), dlp6666 on 22/06/2018(UTC)
what me, worry?
Posted: 18 June 2018 10:45:24(UTC)

Joined: 20/11/2007(UTC)
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Your thoughts please on Russia (business not football) and more particularly BEE? ( snog, marry, avoid?)
Keith Cobby
Posted: 18 June 2018 11:17:25(UTC)

Joined: 07/03/2012(UTC)
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AVOID
4 users thanked Keith Cobby for this post.
dlp6666 on 18/06/2018(UTC), Tim D on 18/06/2018(UTC), what me, worry? on 18/06/2018(UTC), Freddy4Skin on 18/06/2018(UTC)
King Lodos
Posted: 18 June 2018 13:44:50(UTC)

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I've just done my first trade in about a month – which was to cut Russia and Emerging Europe a bit.

I still think of Russia as a long-term investment .. With the CAPE ratio around 6, when you buy Russian stocks, you basically make your original investment back (in earnings) in about 6 years.

That's very cheap in these markets .. By comparison the US is on a CAPE of about 30, meaning you buy a US company, and it takes 30 years to make your original investment back. (22 on PE, which has come down)


Another way to look at it is £100 in Russian stocks buys you £16.67 of earnings .. US buys £3.33.

How those earnings are used – how much is distributed back to investors, vs how much is effectively reinvested – and how investor sentiment changes, are what investors tend to notice .. But long-term (15 years and beyond) the investment that's compounding these £16 earnings has the potential to go a lot higher.

Hedge funds are probably more likely buying oil and commodity stocks again now .. I'm a bit of a momentum trader – so I sometimes cut positions that haven't gone anywhere in 6 months – but will always buy them back if things look to turn (it doesn't matter how good you are – often your instincts are just 100% wrong)

7 users thanked King Lodos for this post.
chazza on 18/06/2018(UTC), Tim D on 18/06/2018(UTC), what me, worry? on 18/06/2018(UTC), Andrew Smith 259 on 18/06/2018(UTC), john_r on 18/06/2018(UTC), c brown on 19/06/2018(UTC), t s on 19/06/2018(UTC)
Andrew Smith 259
Posted: 18 June 2018 22:08:46(UTC)

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King Lodos;64000 wrote:
I've just done my first trade in about a month – which was to cut Russia and Emerging Europe a bit.

I still think of Russia as a long-term investment .. With the CAPE ratio around 6, when you buy Russian stocks, you basically make your original investment back (in earnings) in about 6 years.

That's very cheap in these markets .. By comparison the US is on a CAPE of about 30, meaning you buy a US company, and it takes 30 years to make your original investment back. (22 on PE, which has come down)


Another way to look at it is £100 in Russian stocks buys you £16.67 of earnings .. US buys £3.33.

How those earnings are used – how much is distributed back to investors, vs how much is effectively reinvested – and how investor sentiment changes, are what investors tend to notice .. But long-term (15 years and beyond) the investment that's compounding these £16 earnings has the potential to go a lot higher.

Hedge funds are probably more likely buying oil and commodity stocks again now .. I'm a bit of a momentum trader – so I sometimes cut positions that haven't gone anywhere in 6 months – but will always buy them back if things look to turn (it doesn't matter how good you are – often your instincts are just 100% wrong)



How are you getting your exposure to Russia? Via investment trusts such as BEE
King Lodos
Posted: 19 June 2018 07:51:39(UTC)

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Andrew Smith 259;64012 wrote:
How are you getting your exposure to Russia? Via investment trusts such as BEE


For trading, a Micex ETF (like VanEck Vectors Russia RSX), but medium-term I've been in Invesco Emerging Europe, and before that JPM Emerging Europe.

I'm more split on Russia than I was .. The exporting of shale is disrupting the oil sector, and we're seeing measures to try and keep the oil price up, but there's got to be more uncertainty around economies that rely on oil.

The big question with deep value investing is still whether markets are over or underestimating risks – and I'm definitely not certain there's a value case for Russia .. I'd hesitantly see more value in stocks like Facebook (but that might be a mistake too)

3 users thanked King Lodos for this post.
what me, worry? on 19/06/2018(UTC), Andrew Smith 259 on 19/06/2018(UTC), john_r on 19/06/2018(UTC)
john_r
Posted: 19 June 2018 12:26:18(UTC)

Joined: 18/06/2010(UTC)
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Topped up on AHT this morning after a 6% price pullback.
It has just released year end results which to me appeared stunning.
Obviously not so stunning for other people judging by the share price reaction but then perhaps value is sometimes in the eyes of the beholder.
Announcing continuation of its share buyback programme also gives me confidence.
1 user thanked john_r for this post.
CUEBALL on 22/06/2018(UTC)
dyfed
Posted: 21 June 2018 13:43:16(UTC)

Joined: 01/09/2016(UTC)
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topped up BKG, tempted by JEMI, AAIF but trying to keep >10% in cash
2 users thanked dyfed for this post.
Mr Helpful on 22/06/2018(UTC), Ardeebee on 22/06/2018(UTC)
Mr Helpful
Posted: 22 June 2018 08:38:22(UTC)

Joined: 04/11/2016(UTC)
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Some 'tinkering' this week.

Capital Outflows
Stocks US : BRNA
High Yield Debt : NCYF

Capital Inflows
Stocks Europe : JETI
Stocks EM : JEMI
Real Estate : RGL

Main change is the dropping of NCYF completely (for now), as a late cycle precaution.
7 users thanked Mr Helpful for this post.
dyfed on 22/06/2018(UTC), Tim D on 22/06/2018(UTC), dlp6666 on 22/06/2018(UTC), john_r on 22/06/2018(UTC), Ardeebee on 22/06/2018(UTC), Lemanie on 22/06/2018(UTC), Andrew Smith 259 on 22/06/2018(UTC)
t s
Posted: 22 June 2018 12:36:42(UTC)

Joined: 03/03/2016(UTC)
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Another stock that you cannot buy at iWeb


GVP - GABELLI VALUE PLUS ORD GBP0.01
Or company code:
GVP

We no longer allow investment in this stock.
Big boy
Posted: 22 June 2018 13:03:55(UTC)

Joined: 20/01/2015(UTC)
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Still accumulating Blue Prism on amazing reach. Buyers chasing Hansa Ordy at 1050p. The A much cheaper at 992p offered.
1 user thanked Big boy for this post.
dyfed on 22/06/2018(UTC)
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