Member Info for Alas_Smith

Crossley, not sure if this helps or not. Portfolio consists of a joint general dealing account (from which £40,000 can be sheltered each year into the) other 2 accounts, ISA in our individual names. I recently cashed in our SIPPs and transferred the proceeds to a family trust based on the decisions of Rachel from Customer Services who does Chancellor of the Exchequer impressions.

The general account will be exhausted (with nil growth) in 5 years if the maximum is sheltered. And, because I have the privilege of fine education and the disadvantage of a family handle there is an assumption that somehow I am in a career of high earning and great prestige. The truth is that I go to pieces when it comes to exams, hence my wish to go into medicine was dashed and actually far too much weight is given to exam passes. Anyway, during my working career, not only have I never been a higher tax payer, I have had to raid my savings 3 times to start from scratch, the las time was in 2004. The advantage of cashing everything in and starting again, is to have a cut off and a new starting point so there is a fresh evaluation for strategy.

STRATEGY is the key. My strategy is to "beat the market" (which is the S & P 500). In that way, can be assured of a 12% compound growth so that capital is doubled every 8 years. The key word is GROWTH. But think of a portfolio as a huge shipping tanker (mine has about 80 holdings) and growth is provided by just 4 or 5 really good holdings. Ballast is provided by 30 - 40 holdings and steering by the remainder.

The strategy which I am taking is to move cash from yesterdays growth (NVDA, GOOGL, AMZN and III - for me) into tomorrows beneficiaries(IT, AI Healthcare and Medicines and Defence) but at the same time not forgetting the ballast that sustains a portfolio (LGEN, RIO, HLMA etc among others).

I don't like to have exposure greater than 3% portfolio risked in an individual share, 30% in a geography and not more that 8% in an individual sector. My general account continues to grow and has a monthly buy order for LGEN. This will finish sometime between October and March.

You mentioned 2 other companies.... well, it is not that I am lazy, it is simply that much better to know one company well than try and keep on top of all in the sector. When I lose confidence in managers, I consider replacements. I am content with the managers in LGEN

Big changes in my portfolio in the last week - GAMA is a new holding - bought 3, sold 2 and trimmed 4. Time will tell

Very sensible approach, DavidBrent.

As I prepare to retire, so I have started to draw from my savings, this year will take 2% and from next year and thereafter, 3%. If inflation remains sticky at say 2.5%, just to stand still, portfolio growth will need to be 5.5%. Since 20 to 30 years in retirement is not unreasonable, there is no reason to reduce risk and thus potentially have better return.

Big shakeup of portfolio in last couple of days, have reuced BA. and III, disposed of FEVR and MTU and have new holdings in a comms business and a US surgical robotic company and have topped up my holding in LGEN to bring it to 1.25% portfolio. A little cash on the sidelines remains but May through to August are good months to build cash in advance of investing in September.

In my wifes ISA, another small tranches has been sold to cement profits. It has been her best investment thus far, has rewarded her many times over but sometimes the prices does get a little frothy. My concern is that the bulk of the valuation is for a single holding.

I have added to my holding today. It is marked as a sell

Couldn't agree more, Thronegames. The economically incoherent, mendacious Mr Trump raised the rhetoric and has blinked first; I think that it was probably the CEO's from Target and Walmart that met up with him last week and explained that they were within a few days of having empty shelves.

The consolation we all have is that markets always recover, that this president with his pygmy intellect is not immortal and, although it may take a couple of future presidential elections, stability and common sense approach will return.

Clearly you know best.

The simple facts are that equities tend to outperform property. This is not assured, of course, but there are many other reasons to prefer equities over property. A low cost of entry, dealing costs that allow transaction to be effected in seconds and complete within 3 days whether buying or selling and a known valuation at all times. Additionally equities attract a far lower stamp duty despite a small increase in the PTM levy for bargains exceeding £10,000, do not attract variable costs such as insurance, commercial rates or if domestic, 2nd property premium taxation or maintenance. Some generate income, which is not assured.

I concede that property if let out does generate income, but this is taxed at marginal rate (or as you indicate a partnership or limited liability company), corporation tax. And then, of course tenant needs to have any deposit in escrow and they may or may not actually pay the rent or leave the property in the same condition on which it was let.

Finally, aside from the prolonged and costly legal process that require searches, perhaps indemnities etc there is difficulty in managing CGT and if some capital is needed in a hurry, you cannot sell off a couple of chimney stacks, and a spare bedroom so the option is to raise a mortgage or sell the property and hope that the buyer is organised with funds ready etc or, of course to go down the route of an auction which will see a much shorter process.

That you seem to think I will be impressed that you own a motor car and have some friends is amusing and rather pathetic. But, please, go ahead and ridicule me.

Of course, it is never wrong to take a profit but there are some companies that are range bound and others that have phenomenal growth patterns where the share price seems to rise and never pauses for breath. Much easier said than done, of course, but disposing of losers I've always struggled over. Bit like a friend announcing intention to marry for the 4th time - the triumph of hope over experience.

The best holding for my wife has been 3i - has taken £35k in profits and is still at a value of 3x her original stake. Mine - well, I was very lucky in buying Nvidia in 2015 and I've taken £100k profits and is still at least a 100 bagger.

I had sold most of my holding in LGEN last year to provide a lift changing gift to each of my children but in March have started to buy shares in LGEN each month to replace those sold. By way of habit, I take dividends as cash

Thankyou, Troajan, a useful interview. For myself, I have a very overweight exposure to Defence, IT, Healthcare, Pharmaceuticals, Green Energy, Insurance and Financials, equalweight in Consumer Discretionary, Mining and Infrastructure and low exposure to Leisure. I have no exposure to Banking, Oil, Tobacco, Construction, Engineering or Shipping.

This is really a portfolio structured for growth and, since the return of Mr Trump in late January, has lost all momentum, growth has, through tariff change on a weekly basis, been snuffed out and the value of portfolio has fallen back to level last seen in December 2023.

There is another 2 full years to suffer from his lunacy approach before election fever can shape the next presidential term. Markets tend to generate froth in the build up to election day.

Not inclined to make any structural change to portfolio, preferring instead to sweat things out and wait for volatility to reduce.

MPO818 - I suspect you are taking the future of British Steel at face value - what is actually at stake is the cost to continue a loss making revenue for a business that MUST evolve to survive and the longer term cost of putting many thousands of people out of work.

For the avoidence of doubt. This is the 3rd bullettin site that I have contributed to - the first was interactive investor as "The Troglodyte", next was ADVFN as "Erogenous Jones" and current alias. I left the first site after roughly 10 years as the range of tools and ease of use had not improved and was superceded by ADVFN. I left there through bullying. My sponsorship through premium service on this site ended as RNS feed is poor, the data feed intermittent and worryingly dropped daily at 2:30. This has been made worse with the rising premium for no substantial increase in benefit.

Anyway, I have an apointment with a chain saw this morning to sort out fences and to clear fallen trees and then with diggers for new posts.

Well, Thedetractor, Mr Trump has, whether you like it or not, caused a collapse in markets around the world through his fantasy over tariffs and the benefit therefrom. The 90 day pause is, I wager, reaction to the bond market moving from US to Germany, but, I guess that you are so nimble with your twopenny halfpenny portfolio that you will oscillate between currencies and equities as if you were Nike or some other God.

Some of us contributing here have very substantial portfolios and have been around the block for decades. The difference is that we know that bear markets tend to be fast, un-reasoned and usually constrained to 25%. Occasionally they fall to 50% but these are rare. Bear markets seldom last longer than 18 months and bull ones roughly 7 years. The slightest whiff of a change in fortunes for markets will cause the small time dealer to panic and sell. Yes, they can argue that they are nimble and protecting capital, but the long term investor accepts down days as inevitable, bear markets that are cyclical but are preludes to bull markets. Investors tend not to panic. They have built their portfolio by strategy.

My strategy is capital growth from total portfolio return. Average compound growth since 1979 has been 13.25%. I am down this year but this last week has seen huge daily changes in valuations that in rough seas, the only sensible action is to batten down the hatches and do nothing.

I don't disbelieve that you are benefitting from volatility in markets. That is opportunism strategy and not a investment strategy. You might be dealing in contracts for difference or using some algorithmic platform and, again, I have no problem with that.

My argument is that Mr Trump has no idea what a trade deficit actually is or when, how or whether a tariff is deployed. Todays 90 day pause saw an immediate uplift in markets, but traders are nursing losses and investors are readying themselves to buy. Investors buy when there is clear direction and viable policy. Traders deal when volatility is high.

I hope that gives you a balanced and reasonable clue as to how my criticism was applied.

I don’t think I have read such complete tripe in support of Mr Trump as that published by Thedetector. No problem with political opinion, but Mr Trump is not a politician, he is a TV personality that has appeals with highly paid but low achieving people

In the process, Jim of selling farm based on the idiocy of Rachel from Customer Service who does Chancellor of the Exchequer impersonations and policy for IHT. The foundations I laid 10 years ago were shredded so am making sure that I move as much as I can to a different tax regime including residency. Sure, it will cost quite a bit and will take at least 7 years for the liability to be eliminated, but the barriers for entrepreneurship in the UK has gone

Mr Trump is a moron. I've just reallized I have a trade deficit with my local supermarket. They sell me groceries without buying anything from me. They are ripping me off by selling me groceries! This is unsustainable. I guess I'll just have to give up food. I can't let them rip me off by selling me things. Of course there will be some short term pain while I transition to not eating.

America first is transitioning to America alone and although the US accounts for 26.5% of world GDP. The reality of this insane trade war is that different aliances will be formed - talks for the strengthening of the China, Japan and South Korean Economic Pact for instance and, as we are seeing huge falls in the defence sector, so Europe and Canada are likely to make NATO defence decisions without America.

Getting very costly - I am down in these last 3 days 19.42%

Steph , I know I said I would not contribute much to this board, but I think your optimism, while laudible, is misplaced AT THE MOMENT. The genie is out of the bag from the cretin, Trump with his pygmy intellect by his imposition of tariffs. The knock on effect is that the appetite for M&A has evaporated and the underlying value in all of the holdings will be tested, not just for their value against peers but whether they actually survive. Yes, survive! I am at the point of retiring but the budget announced in the Autumn by Rachel from Customer Service who does Chancellor of the Exchequer impersonations has advanced the decision by 10 months. It is not a business that can be sold and the triple cost of increased NI, business rate increases and change to IHT make it a decision that is very upsetting for what have become friends of employees that have been with us for 15 years, 10 years and 3 years. Temporary staff, not so fussed....

I've noted your diligent valuation and eloquence, but I do caution your optimism at the moment. HOWEVER, having built a portfolio over almost 50 years, I have seen big falls from time to time and every time valuations have returned. Markets go down in the elevator but up by the staircase. Not nice seeing a 6 figure fall for last week along, but it is part and parcel of investing.

If investors are in the mood to buy, the FTSE 250 is UK facing for the most part, I suspect that America is out for the time being - pity as I had rather believed that the Republican party in America would have eased the pressure on business, particularly having inherited a growing economy.

I shall be transferring assets from general account to fully fund both ISA wrappers (self and wife) in April, but it is probably a bit too early to commit cash held on accounts while markets remain in freefall. Having been up 3.5% in mid January, portfolio as a whole is down 8.75%, well into 6 figures.

My suspicion is that US is likely to fall into recession in the short term, that it will become apparent in the next month or so that thousands of workers in US will be laid off and pressure will mount for a revers of policy. Sadly, as the cretin at the helm in America has neither humility nor common sense the pain will remain deep.

The possible trading scenario is an alliance between US, Russia and N Korea with the rest of the world aligned to China and India. Another alternative is civil unrest in US and no sane country would want to wade in and get involved as the internal politics pan out.

What a revolting comment, Finley1. Are we supposed to be impressed?

Many years ago I had a charming letter from Screwfix. Apparantly, they are not a dating ageny

Don't worry. Markets are simply reacting to the prospect of tariffs and will probably continue falling until June. It is very worrying, particularly for investors who have high exposure to growth equities that are dealt on US markets such as myself.

Markets in the long term benefit investors. If you have a strategy, then keep that strategy going and don't vary it simply because of short term volatility, downturn or, in this case broad market reaction to a moron in the White House that does impersonations of a president. FWIW, as far as I am concerned while it is very dangerous to have an extremely bright career politician, it is much worse to have elected an intellectual pygmy who has the attention span of a gnat, the vocabulary of an 8 year old and the international charm of a skunk.

My portfolio was up 5% as at mid January and now down 7%. Who'd have thought that a 6 times bankrupt would be in prime spot for the 7th to potentially be America?

Well, I have added a few more to younger sons account today. Not an exciting company and stability from a core is always beneficial