Literacy Capital Share Discussion Threads

[invisage] 07/6/2011 10:54

davidosh

Pretty surprised that someone of your calibre has'nt picked up on who Guy is in the book. Yes davidosh is one of the Investors in the book as well.

Do you see Guy denying it? No, thought not.

He left a big clue in the book. Unfortunately Guy is a bit shy of bulletin boards and he makes such a comment in his book.

[bluebelle] 07/6/2011 08:10

jim

No long protest, merely a repetition of the, easily verifiable, fact that I have only ever posted under this name and this name only.

I was not being sarcastic. I was simply pointing out that you were 'talking your own book' and perhaps you should have made that clearer. As for not making the same mistake, allow me to mention that you went from one company chaired by Mr Wong on which you had lost money, MDY, to another,GON, under the same stewardship, the share price of which has performed in a not too dissimilar fashion !

The reason that is relevant to me is that one of the things which I find surprising on this, and similar, threads is how little attention is, apparently, paid to what used always to be the single most important investment criterion, namely, the quality of the management. Ultimately, if you're a shareholder, that is what you're buying. They're the guys who make sure the company is in the right place at the right time strategically and have the day to day operational strength and integrity to deliver. For me, quality of management trumps everything.

[jimmyloser] 07/6/2011 07:19

Bluebelle,

How nice to hear from you and in your original manifestation (expect long protests) from stage left.

Please read my earlier posting again.

Look before you leap.

MDY have in fact been a very costly mistake and one that I will never repeat.

My investments in gon are fine. I am the first to admit, that it is as much by good luck as my ability to invest in a winner.

Less sarcasm from you in future please.

jl

[zangdook] 07/6/2011 07:06

Invisage - 6 Jun'11 - 18:15 - 84 of 87 (paraphrased)

FreeCapital

Yo'ur a verry clevver pers'on. I pade four yo'ure book, now I want som free 1-on-1 coaching.

our else

from Invisige

ps I kno what you did last somer.

[bluebelle] 07/6/2011 06:20

You're being a bit selective here, jim lad if I may say so. You were heavily into MDY long before Mr G became involved - to no great benefit : the price continued its long downward trajectory - and singing the praises of GON several years ago when it was in the upper 20s/30s. I suspect it will take more than the help of Mr Thomas even to get you back to where you were, but best of luck anyway.

[jimmyloser] 06/6/2011 21:16

From another thread.

I have not as yet listened to Mr. Thomas's interview, but bought his book several weeks ago due to the fact that he had bought a notifiable stake in Galleon Holdings (GON) and I too hold a significant investment in them. I plan to read the book when on holiday in a week or so.

This is from another thread and is said to be his comments on Galleon Holdings and their strategy.....

He says...Galleon is a "fast growing company with online gaming business in China", "attractive", "high risk", "adventurous punt" but "well worth looking at the the present time".

He likes hi-tech companies because he feels that he has a "superior insight" into these companies.

I have d.m.o.r. and Galleon do have an exciting buzz about them. (imo)

dyor.

Guy Thomas, I hope that by September I can call you a genius....because if I can, then I will be, one very lucky man.!

[energyi] 06/6/2011 20:33

zangdook - 6 Jun'11 - 16:26 - 83 of 84
You haven't by any chance read post 72 in this thread?
==

Sorry, saw it afterwards.

I hadnt gotten that far in reading the posts yet.

There are also various threads on GEI about the book. Some of the interviewees post there (and were recruited there) too

Guy and some other Free Capital investors are amongst the many SERIOUS users of bulletboards like Advfn and GlobalEdgeInvestors dotcom, as the interview makes clear.

[invisage] 06/6/2011 17:15

Free Capital

I am reading the chapter about you again. The reason I decided to look up the clues you gave in your book as I felt you did very well for yourself & was quite keen to find out who you were because I want to learn and develop further.

I think I am at a stage where I want to grow as an Investor & just want to be pointed in the right direction to develop.

For sometime I have been looking for individuals who I know have a very good track record & I belive by reading their comments I can learn a lot.

There are a lot of people on bb sites that talk, but I think the key is knowing who to listen to & who to ignore.

It would be really interesting to hear more from you about market matters - Your clearly very good & this would'nt have been so obvious without reading your book.

Your seem like a nice guy from your profile & I hope you entertain readers with your Investment wisdom.

[zangdook] 06/6/2011 15:26

energyi - 6 Jun'11 - 15:04 - 80 of 82

You haven't by any chance read post 72 in this thread?

[invisage] 06/6/2011 14:21

EC

Nope. Guy is clearly a modest chap. He is one of the Investors in the book.

I do find it is interesting that some people have'nt realised who he is just yet :)

[effortless cool] 06/6/2011 14:16

Invisage - 6 Jun'11 - 13:08 - 73 of 80


freecapital

Your quite a remarkable chap. Very impressed with how you have marketed and promoted the book.

Quite impressed with you as an investor in the book as well.

What I did'nt understand is why you left a big clue as to who you are? It is almost as if you wanted to be known by the reader.


Invisage - is the clue to which you refer his name in large letters on the front of the book? Very careless of him, i agree.

[energyi] 06/6/2011 14:04

There's now an INTERVIEW with the Author :

Guy Thomas is interviewed by Dominic Fisby in the latest Frisby's Bulls And Bears.

Research actuary turned private investor, Guy Thomas, author of Free Capital: How 12 Private Investors Made Millions In The Stockmarket discusses his book, some of stories and methods in it, and also looks at some of his own investment strategies.


FBB Link:


Read the BLOG about the book:

[davydoo] 06/6/2011 13:49

Fair point. As a small cap investor I'm already facing substantial liquidity issues on some stocks and have relied on bids to get me out. I face a similar thing now with a large holding in YGH.

[horndean eagle] 06/6/2011 13:43

davydoo,

I wasn't referring to the psychological aspect of having a larger pot of capital. My point was about liquidity. Much harder to enter and exit less liquid stocks. Speaking from experience here.

[davydoo] 06/6/2011 13:09

I disagree horndean, my trading performance has been transformed since i reached a level that wasnt all or nothing decisions, I might not have a million to invest yet, but the position I'm at gives me confidence I could manage it more rationally and with less emotion than days gone by when my invested capital meant buying a house or staying rented.

[invisage] 06/6/2011 13:06

Yep I know a few others from the book too. Certainly an interesting read.

[horndean eagle] 06/6/2011 13:04

Enjoyed the book. Recognised a few people from it. Shows that there are many ways to skin a cat. A few of them seem to have got lucky with being in the right place at the right time. Give it a another ten years and a follow up book would be very useful. Turning 100k into 1m is a very different proposition from turning 1m into 10m.

[zangdook] 06/6/2011 12:51

Thee are many things you don't understand, Invisage. Here's a tip: you're not thinking hard enough. Screw up your eyes, hold your breath and concentrate until you can taste blood.

[invisage] 06/6/2011 12:08

freecapital

Your quite a remarkable chap. Very impressed with how you have marketed and promoted the book.

Quite impressed with you as an investor in the book as well.

What I did'nt understand is why you left a big clue as to who you are? It is almost as if you wanted to be known by the reader.

[freecapital] 06/6/2011 11:16

Audio interview with Dominic Frisby ("Frisby's Bulls And Bears) about Free Capital:

[fyodor espenson] 31/5/2011 20:40

not reall a competitor..these are hedge fund guys

[freecapital] 31/5/2011 10:59

Another competitor book...

New Market Mavericks

by Geoff Cutmore

Eight UK mainly professional investors, at least moderately well known. Hugh Hendry, Michael Browne, David Murrin, Philip Manduca, Chris Locke, Richard Cunningham, Peter Toogood, David Schwartz.

I haven't actually read this , it's £36 on Amazon! Wiley are expensive.

[freecapital] 31/5/2011 10:58

davydoo I agree institutions sometimes have non-financial motivations. Or more precisely, motivations that are unrelated to the future prospects for the share. Some will sell arbitrarily if market cap falls below a certain level, eg £50m or £100m. Peter Gyllenhammar talked about this in the book.

I have also had cases where I bought a stake just under £250k off a very large institution and I had the feeling that because their stake was now under £250k, it was not worth their while to follow it, they just wanted to get rid.

[davydoo] 30/5/2011 18:14

freecapital, very good point about counterparties with 'non-financial' motivations. Whilst i agree that you'd rather your counterparty was a 'muppet' than an institution, sometimes small caps can benefit from arbitary selling by institutions being 'corporate muppets' I am currently observing this with DWN, a once much larger company, that is now a very small but profitable company, the previous largest holder Schroders, appear to be on an automated exit strategy regardless of news. Its like the fund manager has made a decision to get out, largely i suspect because their loss is so great and any future gains will have a minimal impact to the future performance, and their dealers are just exiting as instructed into any buying. Ive been buying a lot of their sells. davydoo v goliath.