RE: Malcy’s blog26 Feb 2026 13:32
Sturm
Look at the AIM All Share chart.
https://www.londonstockexchange.com/indices/ftse-aim-all-share
Select “Max”, which gives you a roughly 20 year chart. 20 years and about a third of the value gone, with no yield to speak of. There were real fun and games in the early days of AIM, but it went stale a long time ago. It is a refuge for less than impressive directors and marginal assets/propositions. That is obviously not how any given company spins itself, but it becomes clear when you aggregate the data.
Folk who are bullish on a commodity have been so much better served by an asset allocation strategy focusing on solid companies that actually give them the commodity upside exposure they are looking for. This has been particularly clear in my own sector where over the last couple of years the performance of the relevant AIM plays has just been blown away by the likes of even giants like Newmont and Barrick.
AIM holds out the promise of the ten plus bagger and folk then lose 90, 95 or even 99% of their money chasing that dream. Nimble traders with excellent timing and discipline can still do well - even TXP was a ten plus bagger at one point - but such traders are few and far between: most folk seem to dig in for the longer run and then pay the price for treating something as an investment that just isn’t. Look at AIM’s Trinidad Roll Call of Shame: Range Resources, LGO Energy, Trinity Exploration, Predator and now TXP.
This isn’t about living in the past. It is about evidence based analysis of what works for private investors and what doesn’t. Believing the spiels of AIM’s snake oil salesmen certainly isn’t working for them.
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