The investor’s guide to Sharemark

A full rundown of all the companies on the Aylesbury mini-market
I’ve posted before about the bargains sometimes to be found on Sharemark, the auction market for unquoted shares run by Aylesbury stockbroker The Share Centre. The market is little known so I thought it might be useful to do a summary of all the securities […]

Vedanta and the dollar (VED)

The US currency is becoming a big theme in the UK market
Indian mining company Vedanta Resources, a FTSE 100 member, fell nearly 5 per cent yesterday on talk that it had revised down its Q2 EBITDA forecast from $730m to $630m to reflect this year’s 12 per cent rise in the Indian rupee.
I don’t get […]

Tintin and the Waste Vegetable Oil (CBI)

We must protect the secret formula!
I’m getting quite keen on China Biodiesel and trying to write a serious post about its operations and outlook. It’s taking a while, though, and in the meantime I was amused by this passage from its prospectus:
“The Directors believe that the most critical factor in the production process is […]

China Biodiesel (CBI)

A spivvy, struggling, speculative Chinese value stock?
China Biodiesel, listed on London’s AIM market, makes biofuels from a range of feedstocks in Fujian Province, Southern China. Check out the cute little beaker on its website labelled “Sample of Product”.
I had to take a couple of deep breaths before writing this post because China Biodiesel is a […]

New LSE index trackers

Just say no to overpaid and underperforming investment managers
I got a message today about the launch of a new set of exchange-traded funds (ETFs) by Deutsche Bank. These include:

Index tracked by db x-trackers

TER*

LSE Code

FTSE/XINHUA CHINA 25

0.60%

XX25

S&P CNX NIFTY (India)

0.85%

XNIF

MSCI KOREA

0.65%

XKS2

MSCI TAIWAN

0.65%**

XMTW

MSCI BRAZIL

0.65%**

XMBR

MSCI EMERGING MARKETS

0.65%**

XMEM

MSCI EM ASIA

0.65%**

XMAS

MSCI EM LATAM (Latin […]

One that got away (ACCP)

ACC Group launches a tender offer and delists
I’ve been watching Plus-listed investment company ACC Group for some time. It has been trading at an attractive 36 per cent discount to NAV, but I was waiting for 2007 results, to get an update on its holdings.
Well, 2007 results came out today, along with plans to take […]

Cattle auction tomorrow

£17,323 of cheap stock for sale
I’ve posted briefly about the attractions of Sharemark-listed Dairy Farmers of Britain loan stock before and, at some point, I’ll put up a full analysis.
This is just to note that £17,323 nominal of the 2016 stock is up for auction tomorrow at a reserve price of 60p on the pound.
The […]

My resolution to Resolution (RSL)

The risk of a refusal is too high for me
I have sold my Resolution shares today after news that Standard Life has made a 717p cash and shares offer. I bought them shortly before I started this blog because I felt they offered value and the market was underestimating the chances of another bidder.
We may […]

Venturing into the VCTs

How could one turn a profit on these trusts?
I’ve written before about the massive - 40 or 50 per cent - discount to net assets at some UK Venture Capital Trusts. If the assets were sold and the cash returned to shareholders, an investor buying today could make a 100 per cent return.
But I also […]

Haynes Publishing (HYNS)

Carburettors, crankshafts and a wide economic moat
Haynes is publisher of the eponymous series of do-it-yourself car repair manuals. Want to know how to replace the air filters on your 1985 Ford Escort? Haynes can show you how.
It is a classic consumer franchise with high barriers to entry. A competitor would have to invest millions to […]

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