Haynes Digital Survival Manual
Fit to hold Having bailed on Bloomsbury yesterday, I’m holding Haynes today. Both are publishers facing the familiar challenges as book publishing follows music into the digital future. First, my [...]
Bloomsbury and the deadly gallows
Not for the Thrifty 30. Not now, not yet… The trouble with Bloomsbury is it doesn’t fit either of the templates I’ve been describing: thrifty or nifty. It’s a company [...]
On catalysts and competitive advantage
Invincibility is good, if you can find it Lewis, of Expecting Value, says says the ratio of price to book value ought to lead investors to ask particular questions about [...]
And this month’s bargains are…
The full range of value I’m starting the month looking at Bloomsbury and Smith and Nephew, two companies at opposite ends of the value spectrum. Publisher Bloomsbury appears in my [...]
T30 monthly portfolio review
A review of few words Below is the state of the portfolio in charts. For commentary, please see October’s review because I am, and always will be continuously reducing risk: [...]
Victoria joins Thrifty 30
As promised before I went on holiday, I’ve decided about Anglo-Australian carpet manufacturer Victoria. Because of its apparent cheapness and stability I added it to the Thrifty 30 portfolio this [...]
Airea falls at last hurdle
Sunk by the F_Score The process of researching carpet manufacturer Airea has felt like death by a thousand cuts. What started as a promising looking investment now leaves me feeling [...]
The long view of retailing
Are retailers delusional? I picked up a book at a jumble sale last week. It’s quite a novelty reading from paper. I bought “The Art of the Long View”, by [...]
Correction: Airea not trading below liquidation value
Oops! I did it again B0#0cl<$. There’s a mistake in Airea’s liquidation value worksheet (published last week). The equation for adjusted net assets only deducted current liabilities, when it should [...]
On Bloomsbury and buggy whips
Excited and terrified Coincidentally, on the day I start thinking about adding Bloomsbury, which is predominantly a book publisher, to the Thrifty 30 portfolio two news items catch my attention. [...]
Airea is trading below liquidation value
CORRECTION: There is an error in this article. Airea is trading at a 4% premium to estimated liquidation value! Carpet manufacturer at 19% discount The net-net calculation used by the [...]
Carpets, not curtains, for Airea
This is what a bargain looks like Look down at your office floor and you can probably see this (above). Perhaps I’m not being fair to the carpet industry, picking [...]
