Sunday, June 27, 2004
Keep watching and waiting
When the blog started, I was concerned it wouldn't work. Most blogs are written daily, like a diary. I've not been that prolific. That's more on account of the subject than my inadequacies as a reporter. An investor has days where there is nothing to add, indeed weeks. It's a passive pursuit, not an active one. Usually, there is nothing to do or respond to. Survey the scene, monitor your investments, look for any trends or themes emerging and if an opportunity presents itself, strike fast. Think of yourself as an amateur fisherman rather than a tennis player. Relax, watch and wait. Don't get that placid and calm face rouged with serve and volley.
Since my last portfolio update I've purchased 890 Ben Bailey shares at 390p. That distorts any comparison. Chaucer has recovered slightly, Ben Bailey has fallen to compensate. My latest Ben Bailey position is in profit and Mayborn have barely moved. Most heartening is Dana Petroleum. Despite no news, the price has advanced over ten percent and now sits at a high for 2004.
on June 02:
BBC: Ben Bailey, 1281 shares on 20/02/03 at 178p (420p, £5,380.20)
CHU: Chaucer Holdings, 8092 shares on 06/10/03 at 42.88p (43p, £3479.56)
CHU: Chaucer Holdings, 4075 shares on 06/04/2004 at 54.75p (43p, £1752.25)
DNX: Dana Petroleum, 1551 shares on 20/11/03 at 223.75p (267p, £4141.17)
MBY: Mayborn Group, 1406 shares on 15/03/04 at 282p (255p, £3585.30)
Cash holdings: £158.97
A grand total of £18,497,45.
as of today:
BBC: Ben Bailey, 1281 shares on 20/02/03 at 178p (395p, £5059.95)
BBC: Ben Bailey, 890 shares on 21/06/04 at 390p (395p, £3515.50)
CHU: Chaucer Holdings, 8092 shares on 06/10/03 at 42.88p (47.5p, £3843.70)
CHU: Chaucer Holdings, 4075 shares on 06/04/2004 at 54.75p (47.5p, £2231.06)
DNX: Dana Petroleum, 1551 shares on 20/11/03 at 223.75p (305p, £4730.55)
MBY: Mayborn Group, 1406 shares on 15/03/04 at 282p (257p, £3613.42)
Cash holdings: £158.97
Total: £23,153.15
Dana's recent excellent performance can be attributed to the high price of crude oil. Share prices have risen across the oil sector in anticipation of higher profits. I'll be revisiting my evaluation of Dana in my next blog. Until that fair value is reached, I'll watch and I'll wait.
The Artful Dodger
Since my last portfolio update I've purchased 890 Ben Bailey shares at 390p. That distorts any comparison. Chaucer has recovered slightly, Ben Bailey has fallen to compensate. My latest Ben Bailey position is in profit and Mayborn have barely moved. Most heartening is Dana Petroleum. Despite no news, the price has advanced over ten percent and now sits at a high for 2004.
on June 02:
BBC: Ben Bailey, 1281 shares on 20/02/03 at 178p (420p, £5,380.20)
CHU: Chaucer Holdings, 8092 shares on 06/10/03 at 42.88p (43p, £3479.56)
CHU: Chaucer Holdings, 4075 shares on 06/04/2004 at 54.75p (43p, £1752.25)
DNX: Dana Petroleum, 1551 shares on 20/11/03 at 223.75p (267p, £4141.17)
MBY: Mayborn Group, 1406 shares on 15/03/04 at 282p (255p, £3585.30)
Cash holdings: £158.97
A grand total of £18,497,45.
as of today:
BBC: Ben Bailey, 1281 shares on 20/02/03 at 178p (395p, £5059.95)
BBC: Ben Bailey, 890 shares on 21/06/04 at 390p (395p, £3515.50)
CHU: Chaucer Holdings, 8092 shares on 06/10/03 at 42.88p (47.5p, £3843.70)
CHU: Chaucer Holdings, 4075 shares on 06/04/2004 at 54.75p (47.5p, £2231.06)
DNX: Dana Petroleum, 1551 shares on 20/11/03 at 223.75p (305p, £4730.55)
MBY: Mayborn Group, 1406 shares on 15/03/04 at 282p (257p, £3613.42)
Cash holdings: £158.97
Total: £23,153.15
Dana's recent excellent performance can be attributed to the high price of crude oil. Share prices have risen across the oil sector in anticipation of higher profits. I'll be revisiting my evaluation of Dana in my next blog. Until that fair value is reached, I'll watch and I'll wait.
The Artful Dodger
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