No idea, but if he uses full service broker then he would pay a percentage not a fixed fee. |
Can someone tell me why Ominder Dhillon, independent director in this company on the 27th February 2024 bought three lots of shares in the company.
27 February 2024
Ominder Dhillon
Independent Director
BuyRegular purchase transaction 1,150 £2.75 £3,163.65 7,750
27 February 2024
Ominder Dhillon
Independent Director
BuyRegular purchase transaction 600 £2.75 £1,650.60 6,600
27 February 2024
Ominder Dhillon
Independent Director
BuyRegular purchase transaction 2,000 £2.75 £5,501.80 6,000
Im sure if I bought three separate lots,I would have to pay 3 charges for doing so.
So if anyone can explain this, i would be grateful. |
NAV and share price on the up again. |
ex div. 6.3p |
I bought an initial holding earlier this week. Interesting podcast. I found myself in full agreement and it adds to my contrarian SMID basket so I have another horse in the race. |
This recent interview with Alex Wright on the Merryn Talks Money podcast is definitely worth a listen.
Looking for long-term outperformance? Sell the US and buy the UK. That’s the view of Fidelity’s Alex Wright, who joins this week’s Merryn Talks Money. As Wright points out, the UK market is very good for a contrarian looking for value plus a little momentum.
Also in the episode, Wright discusses the opportunities in banks, life insurers and tobacco companies, and why he thinks Tesco is a good buy. |
An article from the manager. |
Has been tracking FTSE 100 for some time, but in July seems to have broken out above the FTSE. |
NAV and share price going up steadily. |
Finally the NAV and share price are firmly on the up. |
XD today. 6.27p per share payable on 10 January 2024. |
This is the third time this year that the NAV has hit £3. Surely this time it will keep going up. |
I was listening to Alex Wright at Fidelity Special Values today. I must admit to liking his style at present.
This makes you think.
Diageo is on a 52 week low. It's on a forward P/E of 19 and valued at 9x book value yielding just 2.5%. Analyst consensus are flat to down a bit.
Barclays is at a similar price level to a year ago, is on a P/E of 5 and valued at 35% of book value with a prospective yield of 6%. Analyst consensus estimates have been increasing.
Question 1 - which is the better quality company? Easy, it's obviously Diageo.
Question 2 - which is the better investment at a 4% 10 year bond rate? More tricky. I might have to say Barclays, even though its a dreaded too big to fail bank!
Any thoughts? Alex Wright is big on banks such as Barclays and NatWest along with Phoenix, Aviva and Impreial Brands. All reasonable quality very high yielding stocks at very low valuations. |
After a dip NAV is now back above £3 |
NAV hits £3. |
Yes, I’m quite surprised by the current bounce in markets. Is it the start of a bull market or a bear market rally? |
NAV and share price going up. |
AB had absolutely the right idea, but underestimated the challenge in how differently things worked and some of the different risks
It wasn't the greatest end to a career, but at the time it seemed like the China "unretirement" was more about him being excited by the opportunity than any kind of hubris and it was clear to investors that it was a high risk opportunity
But then I made plenty of money on his special situations fund and lost none on China, so maybe that's why I still think well of him :) |
FCSS rescued by Dale Nicholls tho - AB had moved to HK thinking he could do in China what he'd done in UK, only to get caught in some Northwest Bio-style frauds.
Eg:
Unlike Woodford - and so far, BG - AB did at least admit he was wrong and move on (or was pushed?). Woodford as hubristic as ever in the way he keeps trying to restart, and difficult to see BG changing course even if the outside chance of an SMT blow-up comes to pass.
Nick Train another interesting one. |
Interesting - I think quite a few have that view, but not me. FCSS went on to be very successful and the drawdown was temporary, versus Woodford where he permanently destroyed capital. I think AB did well with FCSS, but the market timing was off. His successors have done very well using the same style. China is volatile. China now - nothing works and FCSS is again under pressure. Things will change again, that's for sure. |
I ended up hating AB :)) The hubris - and downfall - with FCSS was Woodford-esque, albeit pre-Woodford!
But point taken - and agree as a buy-and-forget it's surely a decent punt, biased strongly to value. |
Nothing particularly special that can't be replicated but I like holding an investment trust portfolio for the long term and I think most of the Fidelity trusts are good. This and Fidelity European are my favourites - both originally Anthony Bolton vehicles. Good stock pickers, albeit not quite as good as Anthony Bolton. |
Unusual to see "CFD of.." in the holdings - avoiding too much stamp duty on the chopping & changing makes sense.
But still not convinced "Fidelity's Wright" has anything "special" that can't be replicated. |
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