The Lemon Fool

vagrantbrain wrote:No individual shareholdings for me after a few years realising i'm not Peter Lynch........Cheap global trackers make up about 60% and rising which i'm intending to hold for the long term........NASDAQ tracker (EQQQ), 1.3% - Recent purchase - cheaper and less volatile then ATT

Stock           | % Portfolio | XIRR   | Held Since | Prime Reason    | Comment                                           
AstraZeneca     |       3.70% | 21.82% | 31-Jul-17  | Covid           | Too small % of portfolio will have to add or sell.
Aviva           |      24.22% |   4.5% | 16-Apr-20  | Recovery        | Will trim Aviva back when the investment matures. 
Coca Cola HBC   |       5.07% |   6.0% | 09-Jun-17  | ROCE            | EM Exposure.   Coke is great brand globally.      
Diageo          |       3.74% |  11.5% | 12-Jan-11  | Brands, ROCE    | Will top this up substantially if SP falls back.  
Inchcape        |       3.32% |  12.5% | 24-Feb-09  | ROCE, Buybacks  | Becoming a subscale holding, lacks growth.        
Int. Hotels     |       4.81% |   6.7% | 09-Jun-17  | ROCE, Brands    | A brilliant asset lite business model.            
RELX            |       9.23% |  19.1% | 01-Aug-10  | Moat, ROCE      | A unique data business impossible to replicate.   
Rio Tinto       |       3.84% |  24.1% | 03-Oct-18  | Yield, Moat     | The best of the mining companies.                 
Rothschild IT   |       7.10% |  10.2% | 17-Mar-21  | Diversification | Will continue to add over time.                   
Rolls Royce     |       5.55% |   6.4% | 22-Oct-14  | Recovery        | Top of my list for disposal when SP recovers.     
SFOR Capital    |       5.07% |  27.1% | 14-Jun-21  | Speculation     | Sir Martin Sorrell is worth a bet.                
Smith & Nephew  |       3.72% |   3.0% | 06-Oct-16  | Takeover target | Becoming a subscale holding.                      
Unilever        |       9.98% |  10.1% | 12-Jan-11  | Brands, ROCE    | Topped up recently, is far too cheap.             
JD Weatherspoon |      10.64% |  -3.1% | 16-Apr-20  | Recovery        | Property assets not valued since 99, too cheap.

YeeWo wrote:

vagrantbrain wrote:No individual shareholdings for me after a few years realising i'm not Peter Lynch........Cheap global trackers make up about 60% and rising which i'm intending to hold for the long term........NASDAQ tracker (EQQQ), 1.3% - Recent purchase - cheaper and less volatile then ATT

My investing journey has gone the other way. I started buying Unit Trusts from Virgin Direct in the 90s, realised HSBC AM could offer the same thing at less cost and moved my monthly DD to HSBC. Then in 2011 I started to notice a flurry of listings in London of seriously dodgy mining companies etc and decided I didn't want exposure to this stuff so went to individual shares. I'm not Peter Lynch either! Is there any point in holding anything at a level of 1.3% of your portfolio : NASDAQ tracker? It ain't gonna make a meaningful difference even if it doubles!!?

YeeWo wrote:

vagrantbrain wrote:No individual shareholdings for me after a few years realising i'm not Peter Lynch........Cheap global trackers make up about 60% and rising which i'm intending to hold for the long term........NASDAQ tracker (EQQQ), 1.3% - Recent purchase - cheaper and less volatile then ATT

My investing journey has gone the other way. I started buying Unit Trusts from Virgin Direct in the 90s, realised HSBC AM could offer the same thing at less cost and moved my monthly DD to HSBC. Then in 2011 I started to notice a flurry of listings in London of seriously dodgy mining companies etc and decided I didn't want exposure to this stuff so went to individual shares. I'm not Peter Lynch either! Is there any point in holding anything at a level of 1.3% of your portfolio : NASDAQ tracker? It ain't gonna make a meaningful difference even if it doubles!!?

YeeWo wrote:

Stock           | % Portfolio | XIRR   | Held Since | Prime Reason    | Comment                                           
AstraZeneca     |       3.70% | 21.82% | 31-Jul-17  | Covid           | Too small % of portfolio will have to add or sell.
Aviva           |      24.22% |   4.5% | 16-Apr-20  | Recovery        | Will trim Aviva back when the investment matures. 
Coca Cola HBC   |       5.07% |   6.0% | 09-Jun-17  | ROCE            | EM Exposure.   Coke is great brand globally.      
Diageo          |       3.74% |  11.5% | 12-Jan-11  | Brands, ROCE    | Will top this up substantially if SP falls back.  
Inchcape        |       3.32% |  12.5% | 24-Feb-09  | ROCE, Buybacks  | Becoming a subscale holding, lacks growth.        
Int. Hotels     |       4.81% |   6.7% | 09-Jun-17  | ROCE, Brands    | A brilliant asset lite business model.            
RELX            |       9.23% |  19.1% | 01-Aug-10  | Moat, ROCE      | A unique data business impossible to replicate.   
Rio Tinto       |       3.84% |  24.1% | 03-Oct-18  | Yield, Moat     | The best of the mining companies.                 
Rothschild IT   |       7.10% |  10.2% | 17-Mar-21  | Diversification | Will continue to add over time.                   
Rolls Royce     |       5.55% |   6.4% | 22-Oct-14  | Recovery        | Top of my list for disposal when SP recovers.     
SFOR Capital    |       5.07% |  27.1% | 14-Jun-21  | Speculation     | Sir Martin Sorrell is worth a bet.                
Smith & Nephew  |       3.72% |   3.0% | 06-Oct-16  | Takeover target | Becoming a subscale holding.                      
Unilever        |       9.98% |  10.1% | 12-Jan-11  | Brands, ROCE    | Topped up recently, is far too cheap.             
JD Weatherspoon |      10.64% |  -3.1% | 16-Apr-20  | Recovery        | Property assets not valued since 99, too cheap.

Dod101 wrote:I too wonder why YeeWo would have such a dominating holding in Aviva and what will signal to him that it has 'matured'?

YeeWo wrote:

Dod101 wrote:I too wonder why YeeWo would have such a dominating holding in Aviva and what will signal to him that it has 'matured'?

https://www.standard.co.uk/business/act ... 39307.html

The Cevian Investment Thesis in Aviva makes sense to me. Buybacks and Chunky Dividend payouts in 2022 should hopefully move the SP upwards. Aviva will be such a clean business by the time Amanda Blanc has finished it will either be throwing off cash from the core markets GB/IE/CA OR it will make a decent acquisition bolt-on for many existing global operators. In the meantime, I'll bank the dividends and try and keep well read on progress........

"Matured" will be 500p+ and a good couple of years of dividends. At that point i will cut........

dealtn wrote:Top 10 holdings

LLOY Macro play on UK economy, combined with view that margin "jaws" widen on interest rate rise.
TET High ROCE and growth plans to expand capacity (coming on stream soon).
BVXP High ROCE and Operating Margin
BLND Macro play on UK economy, combined with interest rate and inflation view (and contrarian nature suggesting oversold).
WJG UK Property Play, model of pre-selling assets and securing ongoing management income.
CTO Niche company in busy industry with record order book.
GYM Self funding roll out story in Covid recovering sector of the economy.
MKS UK High Street turnaround story boosted by Ocado deal and Pension contrarian play.
LGEN Well run company with portfolio inflation hedge. Pension "problem solving demand" unlikely to fade and perhaps accelerate in overseas markets.
VTU Asset backed contrarian play in motor industry. Plenty of demand in servicing and second hand cars, despite consensus view on switch to BEV.

Dod101 wrote:That is a very useful exercise and I have been practising it for a long while, although usually on 1 January when the exercise is included in my yearly review. It is to mind essential to keep the portfolio sharp and focussed. I do not think I am going to have time this week to do this because i find that it needs a certain frame of mind and some time.

Dod

Charlottesquare wrote:

Dod101 wrote:That is a very useful exercise and I have been practising it for a long while, although usually on 1 January when the exercise is included in my yearly review. It is to mind essential to keep the portfolio sharp and focussed. I do not think I am going to have time this week to do this because i find that it needs a certain frame of mind and some time.

Dod

If you can manage that on 1st January I take my hat off to you, either that or your Hogmanay is somewhat restrained.