Real Name: John Rosier
Occupation: Private Investor
Interests: Asian Markets, Commodities, Economics, Emerging Markets, European Markets, Geopolitics, International Stocks, Stocks, US Market
Location: London
Twitter: @JohnRosier
About Me:
In September 1984, I left university with a degree in Zoology and started work in the City of London. Over the next twenty five years most of my time was spent managing UK equity portfolios with Fleming Investment Management and Henderson Global Investors, for company and local authority pension schemes as well as the reserve fund for a well known charity. During 2009 I left full time employment and decided to take time out to consider the next stage of my career. In the meantime I have been putting my years of experience to good use investing the family savings. I have thoroughly enjoyed the freedom of investing from home and despite some tricky periods during 2011 it has been a rewarding experience. In January 2012 I set up www.johnsinvestmentchronicle.com in which I record my trades and the reasoning behind them.
In summary: Growth at the right price with the emphasis on "the right price".
I invest mainly in UK stocks as that is where I have gained my experience. Where I do have overseas exposure it is generally through holdings in investment funds. I prefer Investment Trusts but also use Exchange Traded Funds. I focus on mid-sized companies The FTSE 250 is in my view, an excellent hunting ground for companies with good growth prospects and reasonable valuations. I invest in FTSE 100 companies when there is a compelling reason and also in smaller companies but usually with a market capitalisation cut-off of £50m. Small companies can be incredibly rewarding but they are also far more risky as the share price can move violently on little news and it can be difficult to get out when you need to. Most of my individual stock holdings are in UK companies but I also invest in Exchange Traded Funds in order to gain low cost exposure to overseas markets, commodities or precious metals. Occasionally I invest in Investment Trusts. I favour companies that are valued attractively relative to their rate of profit growth In general I invest in companies where the projected PE ratio is below 15x and the PEG Ratio, (PE Ratio divided by the growth in earnings) is below 1.5x. I tend to steer clear of companies with high levels of debt. I like investing in companies that are hitting new price highs I regularly screen for companies that have hit a new 12 month share price high and then try and understand why it is doing so. If I think I have worked it out, and it meets my other criteria, than it may well be worth an investment. I do not invest in companies where the share price is in free fall. I will wait for it to stabilise and recover somewhat before being tempted to investigate. When making an investment I always set a stop-loss My view, learned through bitter experience, is that you are best cutting losses quickly. Conversely you should let your winners run. As Warren Buffet said “cut out your weeds and water your flowers”! All too often we are tempted to do the opposite. We add to our losers as it reinforces our original decision to buy it: “I was right to buy it at 100p so I must be even more right to buy more at 85p, after all it’s cheaper. Oh, and I will fund my purchase by selling some of my holding in another stock which is doing really well!” My view is that one should sell and move on – it saves a lot of emotional heart ache as well as money.
On 1st January 2012 I set up the JIC portfolio with £151,110 cash.Under "Transactions" you can see how it has been invested, "Portfolio" shows the current portfolio and my approach to investing is described under "About Me". A history of all my postings can be found under "Company Blogs". I only blog when I have made changes to the portfolio or when there is news relevant to a portfolio holding.I try to avoid "pontificating" about markets and their likely direction: there is enough rubbish out there already! Most importantly, this is not a "tip sheet" where disasters are forgotten and successes trumpeted. The portfolio is there for all to see: warts and all.
Web Address: http://www.johnsinvestmentchronicle.com
Address:
54 Brodrick Road
London
London
UNITED KINGDOM
SW17 7DY
Tel: 02083556893
Although the largest holding, Baillie Gifford Shin Nippon gave up about 5% this week, this was more than made up for by Dixons +14%, Gable Holdings +13%, Agriterra +8%, Dolphin +6%, Worldwide Healthcare +6%, Intermediate Capital +5% and St.Ives +5%....... See full portfolio as at tonight's close at JohnsInvestmentChronicle.com
Anite (128p and 2% of JIC); I have bought a new holding in Anite this morning following a trading statement which shows it finished the year strongly. I have lifted the following description of Anite's business from Stockopedia. Anite is a worldwide provider of hardware and software solutions, systems integration and managed services within its core markets of Wireless and Travel. It provides handset and…
WH Smith ( 727p and 2% of JIC Portfolio)I have introduced a new holding in WH Smith today. The shares have fallen back some 10% since interim results on 11th April which were good but the shares had been strong in the run-up to the announcement. The highlights from the results were earnings per share up 11% and the interim dividend up 13%. It is…
Biotech Growth Trust (387p and 5.8% of JIC portfolio)The Worldwide Healthcare Trust (1048p and 4.8% of JIC portfolio) Nice piece in the Sunday Telegraph yesterday by Tom Stevenson, encapsulating why I have over 10% of the JIC portfolio in two investment trusts, The Biotech Growth Trust and The Worldwide Healthcare Trust. The main gist of the article was that world healthcare spend was forecast to…
Fenner (370p and 3% of JIC portfolio): I have bought a holding in Fenner today. I have held the shares in the JIC portfolio before but sold out last May at 400.2p. Since the pre-close trading statement on 7th March which wasn't terribly bearish but neither was there enough to drive the shares on in the short term, the share price has come back some…
Dolphin Capital (38p and 4.4% of JIC) has announced that its 49.8% subsidiaries, Aristo Developers and Venus Rock estates have sold their interests in Venus Rock Golf Resort in Cyprus for €290m, which includes a €48.5m conditional deferred consideration payable within six months. It has been sold to a Hong Kong conglomerate and real estate Group. The €290m purchase price represents 22% discount to the…
Dixons (36.5p and 4% of JIC); Today's trading statement covering the 4th quarter and full year to 30th April 2013 is very encouraging. Like for like sales growth in the 4th quarter accelerated to 11% contributing to a figure of 7% for the full year. Northern Europe was particularly strong with like for like sales growth of 14% and 13% in UK & Ireland, whilst…
easyJet(1130p and 4.3% of JIC); On April 5th easyJet said that it expected the loss for the first half of the current year, October 2012 -March 2013 to come in at between -£60m and -£65m. This morning it has announced a loss towards the bottom of that range at £-61m. It is a fairly lengthy statement which is re-assuring in both its confidence about the…
Polo Resources (27p and 2.2% of JIC); I was a little trigger happy yesterday reducing my Polo Resources holding down to 2% at 24p. I am however a little annoyed that the Company only told half the story in its statement at 11.38 am. A couple of hours later at 2.00pm it issued a further statement saying that Mettiz Capital, the investment vehicle of Michael…
Well done Paul. Good article on QPP and thank you for helping me come to my decision to sell my remaining shares yesterday. Looked like a good concept when I bought in the first half of last year but the Company was just in too much of a hurry. Should have followed my instincts and sold all my holding in January after attending a presentation…
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