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Summary ABM Industries has seen some weak growth in recent quarters but I believe this is positioned for a recovery supported by strong tailwinds. ABM will benefit from a sharp services rebound. Return to office trends will reignite growth. ABM is attractively valued at a discou...
Summary 2022 was a year where share prices mostly went down and my portfolio saw a maximum decline during the year of 18%. The portfolio is significantly weighted toward its highest-quality holdings with the lowest valuations. 2023 is likely to be a bumpy year, but that isn’t...
I'll start with short-term performance and then move on to long-term performance, strategy tweaks, recent trades and my outlook for 2022. Over the last few months, the portfolio's yield has really started to recover and is now back to 4%, which is materially ahead of the 3% yield you'...
By the start of September, the FTSE All-Share had produced a total return of 12.4%, which is well above its average return of around 7%. My portfolio has done somewhat better, with a total return so far of 17.4%. This is also well above the portfolio’s average return since 2011...
The strength of the UK stock market’s recovery has driven the portfolio to its first new high in just over a year. The portfolio is ahead of the FTSE All-Share over ten years. 2021 has been a good year so far for the UK stock market and that has helped my portfolio. F...
Over the last ten years or so my investment approach has moved steadily towards higher quality companies, yet hopefully still purchased at attractive valuations. There seems to be nothing like an academic consensus on the optimal number of holdings. Having 80% invested in five com...
The primary attributes of a quality company are a) consistently high returns on capital employed and b) the ability to reinvest some of those returns at equally high rates to drive sustainable growth. A defensive company is one that can generate consistent sales, profits and dividends...
Mitie Group (MITFF) is a British company that has grown from a traditional facilities management and property management business into a broader strategic outsourcing and energy services company. The company's shares have had a very rocky time over the last 5 years, falling more than 75% over ...