Wednesday, August 04, 2004
Tired and frustrated
Ben Bailey, my largest holding, reported interim results on Tuesday. With my target price of 540p and the shares at 405p prior to announcement, I expected positive results to force the share price higher over the following days. Results came in at 45p profit for the first six months of the year and 100p earnings looks a distinctly possible annual profit.
The market was either unimpressed or not listening however and the shares today trade below 400p to sell.
A similar story is being played out at Chaucer where encouraging news from the business is ignored and the share price has fallen back from my last update.
Mayborn have slipped a mite, to 261p to buy. The ideal scenario would see me exit Ben Bailey for a large profit and reinvest the gains in Mayborn. As previously, the market can't be relied on to deliver anything but have a plan for any eventualities and carpa deim.
Dana have provided some consolation but overall the period since the last update has been far less rewarding than I'd have hoped or expected.
At close of market, July 26th
Ben Bailey, 1281 shares on 20/02/03 at 178p (400p, £5124.00)
Ben Bailey, 890 shares on 21/06/04 at 390p (400p, £3560.00)
Chaucer Holdings, 8092 shares on 06/10/03 at 42.88p (45p, £3641.40)
Chaucer Holdings, 4075 shares on 06/04/2004 at 54.75p (45p, £1833.75)
Dana Petroleum, 1551 shares on 20/11/03 at 223.75p (313p, £4854.63)
Mayborn Group, 1406 shares on 15/03/04 at 282p (271p, £3810.26)
Cash holdings: £323.22
Total: £23,146.86
as of August 4th:
Ben Bailey, 1281 shares on 20/02/03 at 178p (398p, £5098.38)
Ben Bailey, 890 shares on 21/06/04 at 390p (398p, £3542.20)
Chaucer Holdings, 8092 shares on 06/10/03 at 42.88p (44p, £3560.48)
Chaucer Holdings, 4075 shares on 06/04/2004 at 54.75p (44p, £1793.00)
Dana Petroleum, 1551 shares on 20/11/03 at 223.75p (327p, £5071.77)
Mayborn Group, 1406 shares on 15/03/04 at 282p (255p, £3585.30)
Cash holdings: £323.22
Total portfolio value: £22,974.35
I'm tired waiting for the results of Dana's Indonesian drilling campaign and fed up with Ben Bailey's malingering share price. Mayborn presents an opportunity I don't have the funds to take up but Chaucer is most frustrating of all, the shares are excruciatingly cheap and the loss on my second tranche at 54.75p is starting to smart.
But this was never going to be a float down the river on a sunny day.
The Artful Dodger
The market was either unimpressed or not listening however and the shares today trade below 400p to sell.
A similar story is being played out at Chaucer where encouraging news from the business is ignored and the share price has fallen back from my last update.
Mayborn have slipped a mite, to 261p to buy. The ideal scenario would see me exit Ben Bailey for a large profit and reinvest the gains in Mayborn. As previously, the market can't be relied on to deliver anything but have a plan for any eventualities and carpa deim.
Dana have provided some consolation but overall the period since the last update has been far less rewarding than I'd have hoped or expected.
At close of market, July 26th
Ben Bailey, 1281 shares on 20/02/03 at 178p (400p, £5124.00)
Ben Bailey, 890 shares on 21/06/04 at 390p (400p, £3560.00)
Chaucer Holdings, 8092 shares on 06/10/03 at 42.88p (45p, £3641.40)
Chaucer Holdings, 4075 shares on 06/04/2004 at 54.75p (45p, £1833.75)
Dana Petroleum, 1551 shares on 20/11/03 at 223.75p (313p, £4854.63)
Mayborn Group, 1406 shares on 15/03/04 at 282p (271p, £3810.26)
Cash holdings: £323.22
Total: £23,146.86
as of August 4th:
Ben Bailey, 1281 shares on 20/02/03 at 178p (398p, £5098.38)
Ben Bailey, 890 shares on 21/06/04 at 390p (398p, £3542.20)
Chaucer Holdings, 8092 shares on 06/10/03 at 42.88p (44p, £3560.48)
Chaucer Holdings, 4075 shares on 06/04/2004 at 54.75p (44p, £1793.00)
Dana Petroleum, 1551 shares on 20/11/03 at 223.75p (327p, £5071.77)
Mayborn Group, 1406 shares on 15/03/04 at 282p (255p, £3585.30)
Cash holdings: £323.22
Total portfolio value: £22,974.35
I'm tired waiting for the results of Dana's Indonesian drilling campaign and fed up with Ben Bailey's malingering share price. Mayborn presents an opportunity I don't have the funds to take up but Chaucer is most frustrating of all, the shares are excruciatingly cheap and the loss on my second tranche at 54.75p is starting to smart.
But this was never going to be a float down the river on a sunny day.
The Artful Dodger
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