Member Info for Alas_Smith

Corrections happen from time to time. Taking just the last 10 years, we have seen the effect of Brexit, chaotic successive governments in UK, Trump declaring a trade war on China in 2018, Covid 19 ravaging the world in 2020 a vaccine rolled out in record breaking time to stabilise the pandemic, war on European soil that has gone on for the greater part of 4 years already, change of Government in UK and US, Trumponomics causing more chaos to world trade and inflation at over 10% accross most of Europe at some point or other that is proving difficult to come under control.

Markets have broadly risen, as they have done for decades and always with corrections and occasionally with crashes. In both rising and falling markets individual companies fail or rise sometime spectacularly. Of course, I would prefer to always invest fresh capital or dividends when the price is most favourable, but I think I can honestly say that there have been perhaps 3, or certainly no more than 4 occasions when I have bought at a low point for an equity in 46 years. I've never sold a holding at its peak.

And if the market goes down by 20% in 2026 or 2027 or some other year in the future, there is a better than even chance that it will recover even if individual companies do not. My portfolio, and I suspect everyone elses is a mishmash of holdings that might contain equities, gilts, unit trusts, eft's, cash, investment trusts, some UK focussed, others European, some US or China or an emerging market. None is actually "the market" but may be influenced by market, political or sentiment.

Any correction IMO is likely to be realisation of an over-valuation - crypto(anything) is pretty obvious, I would have thought followed by those companies that have a forward improbable valuations based on revenues that may or may not occur. Tesla is a good example with a PE of 250 and ripe for a major correction.

There are staggering valuations for some companies which beggar belief. Palantir for instance at a p/e of 579 and IMO will be a casualty. Sure, Nvidia, Microsoft, Google, Apple and that ilk have lofty valuations but their p/e ratios are realistic at 52, 39, 26 and 38 so although might be comsidered candidates are relatively protected.

Corrections are inevitable, crashes can occur but trying to time these is folly. Better to be prepared to take advantage of such corrections in hoarding cash even though its value is eroded through inflation.

Investing is a funny old game isn't it? The stock market has both nothing and everything to do with the economy. For many years I had shares in Albert Fisher (frozen peas) and they paid out a nice litte dividend each year. After they expanded their footprint in the food business to lettuces they went bust in just a few weeks.

Stricklybricks knows the housebuilding sector inside out and I will always defer to experts. Where there is expertise in a single sector, then it can be argued that it is essential to trade in and out of one or more companies in that sector. However, such strategy does not work for a broad portfolio. Dealing charges if the bargains are of low value tend to swallow up gains as will the spread if wide through liquidity.

My strategy has been for capital growth at higher risk. This ytd, I've done poorly. I can't put my finger on any single thing, but dollar weakness has been a high contributary factor. Unlike Finlay1, I like to be fully invested preferring to average up than down. I can certainly see the merit in buying for the dividend, which at over 9% currently is attractive, but my portfolio is not (yet) structured for income, though over the next decade it more likely will.

I am not qualified to give advice, have no idea what your tolerence to risk is or what your goal for your investments might be. But, if it of any help, I am preparing for retirement, have increased my exposure to US equities, maintaining a higher risk with the focus on capital growth. Portfolio yields 1.04% and last month took some profits in Broadcom, disposed of holding in Accenture and purchased shares in Uber.

Why Uber? Well, it is a leader in autonymous driving through its association with Waymo (Google (in which I also own shares)) and throws off whopping level of cash. It is committng to buy 10% shares for cancellation or $2bn from surplus cash.

Don’t forget that the Stock Market is not the economy. I prefer to average up and have more confidence buying shares at or close to a peak

A portfolio is not a single holding, it is not investing in a single sector, nor is it investing in a single exchange. A portfolio will have a range of holdings constructed for the goals that the investor seeks. So, my exposure to Experian fell today by over 4%. No biggie - the company has no fundamental change in the last 48 hours so no compelling reason to worry. My holding in 3i rose by 4% - should I go out and buy more or sell the lot ?

FWIW, I am usually more confident in buying shares in companies as they are a) rising b) close to all time high c) allow me to average up if underweight in a sector or d) that there is nothing better out there. I tend to sell share in companies to a) crystalise losses b) to put money to work in a company that will grow more c) to bank profits as I calculate that the company will not grow as fast and refer to b) or d) geopolitical influence

In common with Ableton, Experian has little influence on my portfolio with the value equivalent to 1.2% portfolio and I am looking to add to my holding. As 4 bargains were executed in September for my portfolio, I am currently fully invested and, although my portfolio is reviewed weekly, I suspect it is unlikely for any major change until mid December in case there needs to be sector rotation that begins in January and likely to conclude in March

Todays move in London was dwarfed by the rise in US. And, despite which elected representative holds high office, US businesses and their underlying markets have driven investor returns for decades and are likely so to do this for years to come. Although my portfolio has a strong bias to US quoted equities, most other holdings have strong dealings with US and I'm pretty sure will continue in the future.

Although I believe that Mr Trump is a mendacious idiot and his (fugitive) policies nonsensical, my long term confidence remains in favour of USA weighted businesses for capital growth.

I've dipped a toe in today for elder son in his SIPP. As he has some 35 years before able to draw against it, the holdings are mainly structured for capital growth. However, from time to time, cash thrown off from disposals and dividends are invested for not only capital growth but for dividend income. This strategy is a lazy way of investing but at some point he will take an interest and either manage it himself or it will have grown sufficiently for discretionary management. On this occasion, it was the proceeds from AUGM (which has performed badly in the last 4 years) not just to remain as fully invested as possible, but recover opportunity cost and losses for past decision.

Nonsense. The company states that the change from ADR on Nasdaq to NYSE listing does not change the HQ, tax residency or governance. It remains a UK listed company.

Indeed....., BTW, my last post might suggest that I have only held shares for 13 years. It is my holding in HLMA that I have held for 13 years, have built my portfolio over the last, well coming up 50 years and have just started to draw against it in anticipation of retirement.

Never wrong to bank a profit, Caroline. May good fortune be yours for many decades to come. I like to average up which helps to run profits but have the bulk of my portfolio in equities quoted on US exchanges. I’m also in favour of investments in companies that trade internationally rather than simply UK, US or EU.

2025 has been a poor year (below my long term compound growth 13.25%) when compared with expectation (20.13%) but the last quarter will allow me to set things up for 2026 and I expect 11% growth through consolidation as the world has a better understanding of political impotence, influence and mindset. Another 2 years sideways movement for RIO is my hunch. Often wrong in my forecast from optimism. I generally add as circumstances permit to core and ballast holdings (raw material producers) to maintain a 2% sector exposure in down and sideways markets

No compelling reason IMO to deal in RIO shares at the moment.

Lending, I’ve only held shares for 13 years but these have provided excellent reward. Todays RNS reads well to me despite sterling strength with improvement in guidence.

Be4c, the sp has for many years languished at a subtantial discount to assts. It is a holding to which there is always an excuse for an inestor to add when they have run out of ideas but wish to remain fully invested. The mangers are rooted in the notion to win yesterdays battle rather than pushing boundaries. Am tempted to add whenever my holding falls below 1% of my portfolio but more often than not resist.

Good defensive holding but adrift in a bull market

Very poor figures and a downbeat message to top things off

Have bought a chunk of shares for elder son in his ISA today. Time will determine wisdom or folly

A week ago Russians had not launched drones over Polish airspace. IMO, growth in the SP for BAE will be rather ore muted than in the last couple of years, but I certainly do not believe it attracts a sell rating.

Have bought a few shares for elder son in his SIPP today. Well run trust with a decent track record. Aside from any capital growth, dividends have grown for decades and paid quarterly. As he is at the start of his career, plenty of time for dividends to accrue.

I have in the past averaged down with equities but found it was more often chucking good money after bad and I really should have cut my losses and put the proceeds to work elsewhere. Sometimes it might take weeks, months or years for a share to recover and, by then, might just come out having broken even or still at a loss. Averaging up (for me) increases exposure to an individual holding that is already showing a paper profit and, where there is momentum is beneficial.

At best, as far as I am concerned LGEN at the moment is rangebound which, from a simple glance at a chart that the SP has plotted is broadly heading southwards.

Anon3, I have no idea where you got the idea that LGEN is a t/o target. That is a new one to me! But, each to their own, I s'pose.

Anyway, while you might subscribe to the whole of the Western world being a basket case, I do not. Voters are sufficiently sophisticated in UK and Europe to vote an old, tired, clapped out and discredited government out. The UK seems to be returning to the early 1970's with yo-yo politics and spent 8 years fiddling around, two years for that bl00dy woman to turn things around before she went completely mad and sold off the family silver. Labour came in with a bang and made a very satisfactory case to build on the invest in the UK policy and be considerate of others. Finally when the gold reserves had been sold off, a series of scandals various hopeless governments beginning with Mr Osborne and ending with Johnson that the UK had had enough. Lunatics such as Corbyn were a big no-no and the compromise put Labour back in office. I've no problem with any politics PROVIDED that the broad centre is not kicked around by the extremes at either end.

Not a lot better in US - we have seen a great President in the guise of Obama to be followed by a sensation, attention seeking liar who achieved nothing in his first reign. A doddery broken man at the end of his life marking time for 4 years and unable to recognise his frailty. And so with no-one to replace him, no stated policy or plan, the convicted lying former office holder was returned, determined to have vengeance.

Now, I can live with 3 years of turmoil in USA - economically it is the danglies - and I can accept that the can that has been kicked down the road and is now at the point where it is no longer a can but a flat mis-shapen lump of metal. The can, I refer to is the service cost to run the back end of UK plc. I certainly don't want Badenoch or Farage at the reins nor, for that matter do I really want Reeves and Starmer, but at least Reeves has the guts to put this in the open.

Now, historically wealth taxes have been around for years and are not only extremely difficult to administer but tend to dissuade wealth from staying put. Rich can afford to up sticks, flights are cheap and communication easy. I'm toying with moving to either Italy or Canada simply from an economic perspective. The present Government are forcing change, and will rue the day if too great a bite of the cake is taken this year. It was a huge mouthful last time around with a black hole that has apparently doubled to be £51bn if either number is believed.

Don't see why it should be me and the other 2.75% that have to pay it

While you would rather see a billion or more invested, this is a company that can only really grow by acquisition. At the moment, the managers have through their brokers provided guidence for institutional investors that this is a stable company that throws off dividends by way of cash, which it returns to investors, with a yield that is expected to grow by 2% as explained in previous statements for the next few years.

Growth is not expected until the next guidence is given. However, rather than return excess cash to shareholders, the company is cancelling shares bought in the market. Now, if it becomes clear that there is a good fit for a similar financial services company in a developed economy that represents better value for INSTITUTIONAL investor, surplus cash (which would otherwise have funded buy back) could be retained for a notifiable interest, which might, over a few years become a merger or bid target. I'm sure that the managers have got their eyes peeled for such case and might even have been quietly accumulating shares below notifiable threshold.

Currently UK plc is a basket case but these days, small cap US equities are comparable with those in the FTSE. But, hey, those that have read my drivel will understand that I prefer to average up rather than down and look for capital growth from total overall return. LGEN is unlikely to represent more than 1% portfolio and I would need to almost double my holding to be close. LGEN seems to be range bound and might fall further or have bottommed out already. For me, I am reluctant to add

Well, Mr Market seems to approve. Just hope that the decline in share price has been arrested. Not one of my better picks.