Over the last week or so I have begun to build a new position in Lululemon. This company has been on my watchlist for a long time, I actually owned it previously for about a month or two (in 2018 I think) but didn't feel completely comfortable with the business so got out. In hindsight that wasn't the best move as the stock has gone up...

It's been a few months since my last post. Since then, markets have been continuing their march upwards, S&P 500 going from 4,850 in late January to 5,210 today. Everything on my watchlist is quite richly valued again, hence the lack of activity of any buying on my end. I typically get excited and motivated to research companies when m...

In the last week the S&P 500 has surpassed the high of 4,800 that was set in December 2021. It's taken a little over two years, during which time we experienced a drop of about 25% to about 3,500. As of the time of writing it is sitting at 4,845. I'm seeing a lot of comments that it doesn't feel like the market should be breaking new h...

As 2023 draws to a close I am finalising my investing returns for the year. Overall it's been a great year, resulting in a 47% return for my portfolio. This compares with 26% for the S&P 500 Index. If we look at my five year track record I have compounded at 15.4%, compared to 15.7% for the index. Finally if we look back over the past ...

It seems like for the past 12-18 months people have been predicting a recession. Interest rates have skyrocketed from zero to 5%. Companies have been doing lots of layoffs. Regional wars have been started in Ukraine and Israel. Seems like a no brainer that the economy would slow and recession would be entered. This doesn't seem to be h...

A few months ago I took an initial position on Diageo. My purchase price was around £31 per share and I made bought enough to make it 4% of my total portfolio. Today the company put out a press release announcing that their expected earnings for this coming year are going to be a bit lower than expected. This results in the stock price...

Still no signs of panic yet in the markets. Asset prices are slowly deflating without any major dislocations. The S&P 500 is down about 19% this year, the Nasdaq is down 29%. For comparison my portfolio is down 32% and I am far from fully invested (about 40% cash right now). Many of my big positions have taken a pounding, Tesla is down...

I've finally decided to become an Amazon shareholder after being a fan and user of the company for so long. I made the stock a 5% position in my portfolio at an average price of around $93 a share. The company's earning and free cash flow is quite volatile which makes it quite tricky to value based on the normal metrics I use. I don't ...

Markets continue to be quite volatile although no sign of major panic yet, just a steady grind downwards. The 10-year treasury is sitting at an attractive 4.23%. Feels so strange to these type of risk free govt bonds at that level. The short term fed funds rate is 3.25% and expected to raise another 75 basis points in the next few week...

I’ve decided to start documenting some of my investment viewpoints every now and then. This will help me see how wrong my opinions were when I look back in future years. Currently feels like there is a lot of euphoria out there right now. Overall markets are quietly richly valued although many of the high flying tech names have experie...

A few years back I read a book called The Great Depression - A Diary which was written by a lawyer during a multi-year period in the 1920s and 30s. What was really interesting about this book was that it was all written in real time so the writer was making assessments about the current environment and future outcomes without having hi...