Looking at the workings of Next (NXT) financial reports reminds me of those moments in the Antiques Road Show when the affable clocks expert opens the back of an 18th-century clock to reveal a still perfect working mechanism. Next is a similarly perfect mechanism for producing sales, earnings, dividend and cash growth. It will not remain eternally…
I last visited Marks and Spencer (MKS), or ‘Marks and Sparks’ as our family used to know, it early in January. The drama was whether M&S was finished as a general merchandiser – most particularly in the ladies wear department, where it seemed totally incapable of revising its one time reputation as a big supplier…
Detachment is everything in investing. And there is bucket loads of detachment here on the Limpopo. They once ascribed the mystique of the superiority of the Edinburgh fund mangers to the fact that that they were far from the London market with all its distractions and crowd following investors. Here on the Limpopo a man…
Surveying the market shore line for value, my searching eye was caught by International Consolidated Airlines (IAG), the rather long, plain faced name for a business which the advertising industry often portrays as incredibly glamorous. I speak of passenger airlines. As we all know, the glamour soon wears off once you have waited for a…
(Ref. my earlier note dated 22nd March 2015.) I ran the rule over Thomas Cook (TCG) at 142p as a possible speculative buy on the 27th March last, albeit pointing out its many defects as a store of value, which included a lack of asset backing, earnings and dividend. This week, the company produced its…
Sainsbury’s trading statement for the fourth quarter of last year is fairly brief. In consequence, it does not provide much on which to base conclusions about the future – which appears to be bearish in the eyes of those executing the high level of short selling of Sainsbury shares. Company sales were down modestly at…
Like a great sail-driven trading ship in mounting seas without a chief officer (The new CEO David Potts is rowed aboard next week) but a busy financial navigator officer (suitably Named as Mr. Strain) keeping the ship sea worthy, William Morrison Plc (MRW) has docked its results for last year. In my judgement they look, on…
