TGISVP – Hot? Not?!

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Alpha Portfolio, Barron's, Beta Portfolio, binary outcomes, Fastnet Oil & Gas, FBD Holdings, garbage stocks, intrinsic value, junior resource stocks, Leverage, Margin of Safety, Petroneft Resources, portfolio allocation, portfolio performance, risk management, Smart Alpha Portfolio, Smart Beta Portfolio, stock screener, TGISVP, Total Produce, Trinity Biotech, US Oil & Gas, value investing

In my last post, I was delighted to see the TGISVP Alpha & Beta Portfolios continue to expand their level of out-performance vs. their ISEQ benchmark. Particularly pleasing was the sight of my favourite, the Smart Alpha portfolio, far outpacing the others with a 21.1% YTD absolute return. But we’re still only 9 months into the experiment, so clearly we need a far longer horizon to confirm if this performance edge is sustainable.

It also makes me wonder if there’s a lesson to be learned here..? No, not whether value investing out-performs in the long run – I’m fully convinced of that already! [And if you’re not, please please read some of the numerous papers published on the topic]. But whether a mechanical approach is perhaps better?

Ha! No, I’m certainly not planning on becoming a stock screening convert..! But I wonder: Even if you’re a v competent & disciplined value analyst, even if you’ve conquered much of the fear & greed involved in investing, perhaps that demon mind still trips you up at that v last hurdle, or two..? When you’ve a nice stack of portfolio candidates lined up, why do you then take a shine to some & not to others? Why does one special stock really get your heart racing, far out of proportion to its obvious prospects? Why do you end up triple invested in one stock vs. another, when they both lined up pretty much even-stevens in terms of risk/reward?

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Stockopedia – Another Good School Report!

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Begbies Traynor, correlation, Facebook, gymkhana, How to Make Money in Value Stocks, IPO, JJB Sports, junior resource stocks, message boards, stock screener, Stockopedia, value investing

I’m pleased to announce you (and some new readers, hopefully) will now be seeing some Wexboy posts syndicated over on Stockopedia! Of course, you’re the very first to find out. Well, after my dear old parents, that is… C’mon, it’s been sooooo long since I could bring home a rosette (look left/scroll down) 🙂 What’s this digital crap anyway, I want the real thing! To add to my dusty gymkhana rosette collection...

Here’s the first syndicated post: Correlation…Schmorrelation!

Uhoh, I forgot there might be comments popping up there… And the first comment’s a goody! Yes, agreed, Begbies Traynor (BEG:LN) management certainly seems pretty clueless – judging from the share price & my own reading to date. But they’ve been cutting a lot of dead wood recently (good restructuring practice, eh? ;-)), so it’s worth a deeper dig to figure out how they’re shaping up now. But I have other UK candidates (in the ‘distressed‘ business) to look over, which I suspect will offer far better operational/financial histories.

The Jewel in the Crown

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blind stock valuation, caning, catalyst, Fair Value, Final Destination, Jewel in the Crown, Owner-Operator, segment/divisional reporting, stock screener, TGISVP

Continued from here. Lord, you’re harsh task-masters..! Erm, thank you, sir!

Let me just post the blind stock figures again, as a reminder:

TGISVP – What’s Interesting, What’s Not..?

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Bank of Ireland, bubbles, dividend yield, DYOR, intrinsic value, ISEQ, natural resource stocks, Ovoca Gold, Permanent TSB, Petroneft Resources, Ponzi, portfolio allocation, portfolio performance, Prime Active Capital, REIT/MLP sector, stock screener, TGISVP, Total Produce

In my last post, I was pleased to see TGISVP continue to deliver significant out-performance vs. the ISEQ benchmark. Early days yet: This could be blind luck, but hopefully it’s derived from a robust analytical process that clearly identifies over/under-valued shares. Which naturally demands a bit of a refresh…

I haven’t actually felt compelled to perform any Irish share revaluations since my TGISVP X post, even for stocks I hold. Personally, I’m pleased with this – I’m v comfortable with my Irish holdings, I believe my valuations are robust, and there’s been no unexpected news-flow. In light of my current Irish portfolio allocation (16%), and actual stocks I hold, I’d be reluctant to add another Irish share. This doesn’t mean forgetting the rest, of course! It does mean I can just watch out for interesting price drops, rather than agonize over constantly refreshing valuations.

Hitting The Century: It’s Pretty Panties Time..! (I)

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alpha, catalyst, developed markets, emerging markets, EUR/USD, European sovereign debt crisis, foreign exchange trading, foreign stock listings, frontier markets, FX rates, Human Capital, macro perspectives, Margin of Safety, portfolio allocation, portfolio performance, stock screener, value investing, value investing bloggers

Oh Gawd, when will I learn..?! Last time ’round, the ‘pretty panties‘ phrase grabbed a whole new wave of (doubly) frustrated web searchers & readers. Who knew? But perverts¹ are people too! A majority even have jobs, I suspect. And many of these hand shandy artists are probably good savers (limited range of interests, they stay home a lot…). They might just appreciate some investing insight! In fact, gentlemen, we can rebuild them. With their powers of concentration, and attention to detail, surely they’d make excellent value investors?! My dear mother would be so proud if I converted even one of these bishop buffers…

So we’ve reached Post 100 – time to show off my pretty panties a little?! This blog’s mostly been about my stock picks and, more recently, I’ve stepped back to write more about macro perspectives. What’s perhaps been missing, as I’ve noticed with many other blogs, is a closer look at portfolio construction, allocation and metrics. This is a big oversight on my part – if you’re a regular reader, you already know this aspect of investing is actually v important to me!

Good Show, Chaps!

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All the Devils Are Here, Altman Z-score, Bethany McLean, catalyst, Clinton Cards, How to Make Money in Value Stocks, Luddites, Margin of Safety, Oddball Stocks, Pink Floyd, Piotroski, stock screener, Stockopedia, Total Produce, value investing, value investing bloggers, Warren Buffett

I’m way behind a couple of other bloggers on this..! Stockopedia sent me a free copy of their new book, ‘How to Make Money in Value Stocks’, and invited me to look at their new website upgrades.

How could I resist taking a look when the book mentions Wexboy twice?! Maybe it will divert attention from my last book reference(s)… OK, Jeez, I’m kidding! At least I think so, bit hazy on some adventures! 😉 Quoting a Pink Floyd lyric was nice too – somewhat cancelled out by following up with a 50 Cent (sorry, Fiddy Cent) quote…

The Great Irish Share Valuation Project I

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Abbey plc, Aer Lingus, Allied Irish Banks, Aminex, Bank of Ireland, Conroy Gold, Continental Farmers Group, CPL Resources, CRH, Irish shares, Irish Stock Exchange, Irish value investing, stock screener

Time to take a little breather from Catalysts..! I’ve finally got ‘round to beginning a project that’s been top of my to-do list ever since starting this blog:

Yes, I wanted to identify all the listed Irish companies out there, (re)acquaint myself with their business fundamentals and financials, come up with a rough and ready valuation for each stock, and thereby come up with a list of the most potentially under- and over-valued Irish stocks.