Monday, February 28, 2005
Portfolio review +16% year to date
The last portfolio review concluded:
Make no mistake however, this month's [7%] gains are exceptional, don't expect a repeat performance in every other month this year.
I stand by that and don't let this month's even more exceptional (can one thing be more exceptional than another?) 9% increase fool you into thinking monthly gains of this size are sustainable.
But hooray! February has made my performance after two months of 2005 greater than my gain for the whole of 2004.
That's slightly misleading. 2004 was a year's harvest more dissappointing than Hiroshima's 1945 sake vintage. All stocks in my portfolio started the year with plenty of headroom to grow into. Now that huge advances have been achieved, returns can be expected to calm in later months.
More encouraging still, nearly all four shares have appreciated a similar amount since New Year, each up between ten and twenty percent. The gains have been broad and consistent and here is where they have come from since my last update:
Porfolio at 29/01/05:
Ben Bailey, 20/02/03 at 178p (423p)
Ben Bailey, 21/06/04 at 390p (423p)
Chaucer Holdings, 06/10/03 at 42.88p (52p)
Chaucer Holdings, 06/04/2004 at 54.75p (52p)
Dana Petroleum, 20/11/03 at 223.75p (491p)
Mayborn Group, 15/03/04 at 282p (260p)
+ cash holdings
Today's total as of 28/02/2005
Ben Bailey, 20/02/03 at 178p (485p)
Ben Bailey, 21/06/04 at 390p (485p)
Chaucer Holdings, 06/10/03 at 42.88p (55p)
Chaucer Holdings, 06/04/2004 at 54.75p (55p)
Dana Petroleum, 20/11/03 at 223.75p (515p)
Mayborn Group, 15/03/04 at 282p (290p)
+ cash holdings
But this performance could be dramatically reversed in March as Chaucer, Mayborn and Ben Bailey will all deliver final results. Ben Bailey is my largest holding, representing 35% of portfolio value. Bailey is expected to report at 7a.m. tomorrow. And this time, I will be getting up on time to act if necessary.
Thanks to February and here's to March - make or break.
The Artful Dodger
Make no mistake however, this month's [7%] gains are exceptional, don't expect a repeat performance in every other month this year.
I stand by that and don't let this month's even more exceptional (can one thing be more exceptional than another?) 9% increase fool you into thinking monthly gains of this size are sustainable.
But hooray! February has made my performance after two months of 2005 greater than my gain for the whole of 2004.
That's slightly misleading. 2004 was a year's harvest more dissappointing than Hiroshima's 1945 sake vintage. All stocks in my portfolio started the year with plenty of headroom to grow into. Now that huge advances have been achieved, returns can be expected to calm in later months.
More encouraging still, nearly all four shares have appreciated a similar amount since New Year, each up between ten and twenty percent. The gains have been broad and consistent and here is where they have come from since my last update:
Porfolio at 29/01/05:
Ben Bailey, 20/02/03 at 178p (423p)
Ben Bailey, 21/06/04 at 390p (423p)
Chaucer Holdings, 06/10/03 at 42.88p (52p)
Chaucer Holdings, 06/04/2004 at 54.75p (52p)
Dana Petroleum, 20/11/03 at 223.75p (491p)
Mayborn Group, 15/03/04 at 282p (260p)
+ cash holdings
Today's total as of 28/02/2005
Ben Bailey, 20/02/03 at 178p (485p)
Ben Bailey, 21/06/04 at 390p (485p)
Chaucer Holdings, 06/10/03 at 42.88p (55p)
Chaucer Holdings, 06/04/2004 at 54.75p (55p)
Dana Petroleum, 20/11/03 at 223.75p (515p)
Mayborn Group, 15/03/04 at 282p (290p)
+ cash holdings
But this performance could be dramatically reversed in March as Chaucer, Mayborn and Ben Bailey will all deliver final results. Ben Bailey is my largest holding, representing 35% of portfolio value. Bailey is expected to report at 7a.m. tomorrow. And this time, I will be getting up on time to act if necessary.
Thanks to February and here's to March - make or break.
The Artful Dodger
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