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March 2017 – Running Tip P&L

Disclaimer: Shareinvestors is not authorised by the Financial Conduct Authority to give investment advice. Terms such as ‘Buy’, ‘Sell’ and ‘Hold’ are not recommendations to buy, sell or hold securities, these statements and other statements made by the author have the meaning only to express the author’s personal views on the quality of a security. Independent financial advice from an authorised investment professional should always be sought before making investments. CAPITAL AT RISK. Full Disclaimer here.


In the interests of absolute transparency I record all my share recommendations and produce a P&L in % terms on an ‘Inception to Date’ basis. Unlike a lot of ‘tipsters’ my trades also include a % adjustment for bid/ask and transaction costs.

I will also continue to state my positions at the end of all company specific articles too.

MARCH 2017 ROLLING P&L

Here is the summary as at 31st March 2017. The average stock tip has delivered 22% return Inception to date, with 88% of my 27 tips in profit. On an annualised basis the average tip is 363%.

The principle detractors are is my short call on Sterling Bonds (SLXX) and longs on Ovoca Gold and Berkeley Energia (OVG). On the longs I currently on Ovoca Gold ‘under review’ as I made a critical mistake in not fully reflecting on the size of the director holdings, which indeed give them a blocking share. This means poor performance is tolerated and chances of shareholder activism are limited, I have had no response from the board despite my best efforts to contact them despite by best efforts. The share price is still significantly below book value but it is hard to see a catalyst for a re-rate towards fair value when the board refuse to pull their finger out of arse…

Regarding Berkeley Energia (BKY), the market was spooked by a bearish broker note, the exit of BlackRock as a share holders (likely following the research note) and the lack of further financing news for the completion of the mine. My understanding is there is no huge rush to complete financing as there is plenty of money in the bank to get ‘spades in ground’. I plan to do another blog piece in April looking at BKY in more detail, but with the shares back below 50p this could be a buy, especially with the promising exploration news.

Regarding Sterling Bonds; I have seen nothing to indicate that my belief of a due correction is incorrect.

2017 03 Trading

Click Here to Download Full Trading Overview 

 

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