In a previous article on these pages, I examined the outlook for the Brazilian Stock Exchange – the Bovespa – and asked the question if it could sustain 2016’s rally, which made it one of the best equity performers last year with an 80% year on year uptick in dollar terms (+39% in local currency…
One of the main advantages of investment trusts over their open-ended counterparts is that the permanent pool of capital allows them to invest in less liquid holdings that could otherwise be difficult to access. This is because in the normal everyday course of business they would never be forced into selling the assets to fund…
Mineral & Financial Investments (MAFL) has been a slow burn recovery situation for much of the recent past. However, the shares have finally delivered the acceleration they threatened technically. I have to admit that Mineral & Financial Investments did rather evade my normally “sharp” antennae as far as getting on the bandwagon of the more…
Seemingly, it is full steam ahead for Cadiz (CDZI on Nasdaq), now $15.35. I never understood what the environmentalists ever wanted in the first place. Anyway, Trump says that they can’t have it. ***** Meanwhile the torrent of scepticism about Tesla grows and grows. Keep buying those put options. TSLA closed at $302 on Friday.…
It’s all about the Enterprise Value For the last few days, you would have probably seen headlines such as “Tesla is worth more than Ford – and GM is in sight” and people arguing about whether Tesla is worth being valued at the same level as GM and Ford. All those discussions highlight a major issue…
In this month’s Opportunities in Focus column I want to discuss why the global automotive industry is at a critical juncture in its evolution. After more than a century of reliance on fossil fuels, the electrification of vehicular transport is going to be huge. Only one car in a hundred today is powered by electricity,…
The constitutional historian Professor David Starkey has compared the invocation of Article 50 of the Lisbon Treaty on 29 March with King Henry VIII’s break with Rome in the 1530s[i]. As Professor Starkey describes in his numerous books, that event had momentous historical consequences for Britain. Politics in those days moved more slowly – and were…
Serica Energy has been on the radar as a “special” North Sea exploration minnow, with the big USP being its cash pile. Sometimes the technicals and fundamentals of a company appear to exist totally separately. Even in the most technical of situations – with say, a deeply embedded uptrend or downtrend, there is generally a nod to…
MP Evans (MPE) reported a couple of days ago. It was a strong statement. And it finished off with the directors’ advice that in their view the shares are worth £11 in contrast with their current £7.50. The directors are sensible people and their view should be taken seriously. Indeed, day after day, MPE keeps…
One of the most difficult parts of being an investor is living with paper losses. Inevitably, there is a degree of frustration when an investment doesn’t go quite as planned. I’ve experienced this lately with a shareholding in precious metals miner, Fresnillo (LON:FRES). It’s down around 7% since I bought it. Although a disappointing performance…
