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Cladding Rectification – Persimmon et al.

The views expressed in this article represent those of the author, not necessarily those of ShareSoc. My first big investment mistake of the year came to light yesterday. In October last year I started to buy a holding in Persimmon (PSN). The outlook for the housing market seemed bright and the company was trading on a prospective p/e of 11 with a yield of 8.6%. Revenue and earnings growth were forecast for the next couple of years. But Michael Gove yesterday put a ...

Portfolio Review 2021 – Mark Bentley

This article reflects the opinions of its author and not necessarily those of ShareSoc. Introduction Following on from my review in 2020, I have now conducted a similar exercise for 2021. See last year's article for an explanation of my investment objectives, strategy, "asset types" and investment accounts. 2021 was "a year of two halves" with my holdings roaring ahead in the first half and then a bit of a rollercoaster ride since September. These market gyrations are difficult psychologically but having lived through ...

A Bumper Edition of Investors Chronicle

The opinions expressed in this article are those of its author and not necessarily those of ShareSoc. Over the Christmas period we were treated to a bumper edition of the Investors’ Chronicle. And I have to say that this magazine has improved of late under the editorship of Rosie Carr. Whether she has a bigger budget or is just picking better writers I do not know but she certainly deserved the job after working for the magazine for many years. I’ll pick out ...

Discrimination Against High Net Worth Individuals?

The views expressed in this article are those of its author and not necessarily those of ShareSoc The cost of the Financial Services Compensation Scheme has been increasing substantially in recent years, as more mis-selling scandals have proliferated and firms have gone bust. This has led to complaints from those firms who fund the scheme and has led the FCA to undertake a “Compensation Framework Review”. This includes looking at possible changes to the scope of protection such as limiting it to “mainstream” ...

Baronsmead VCT – More Corporate Governance Issues

The opinions expressed in this article are those of its author and not necessarily those of ShareSoc. I mentioned in a previous blog post that covered Northern Venture Trust that “VCTs are a perpetual problem in relation to excessive management fees, poor corporate governance, and general behaviour prejudicial to the interests of shareholders”. Now we have an AGM for Baronsmead VCT (BVT) in prospect on the 16th February. As a holder I will be expressing the following concerns to the Chairman: In the ...