Thinking of Selling? Focus on Compound Returns

One of my favourite investing aphorisms is the following:

“Don’t just do something, stand there!”

The line has been attributed to any number of people (Eisenhower and Clint Eastwood amongst others), but has since been appropriated by the investing world.  Well, this year so far has been a true test of my ability to resist doing something in my portfolio.

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Q2 2018

Portfolio Performance – Q2 2018

For those of you in a rush, portfolio returns year to date have been 3.19% against my benchmark (FTSE All-Share TR) having returned 1.69%.  So the good news is, in this second quarter I’ve swung from a 10% negative return to a 3% positive return.  Since inception in August 2015 the portfolio has returned 70.55% against 22.30% for the All-Share.  Therefore the compound annual return for my portfolio is 20.09% going into my fourth year of investing.  You can view the portfolio here.

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AMS – Big Returns Require Patience

I had a brief chat with @wheeliedealer the other day on Twitter.  I was responding to a post of his, in which he shared a chart of one of my holdings, Advanced Medical Solutions (LSE: AMS):

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Q1 2018

Portfolio Performance – Q1 2018

Oh 2017, how I long to have you back.  In truth, the value of the portfolio topped out in November of last year, and has been falling steadily since.  Total return year to date in 2018 has been -10.02% against the FTSE All-Share TR of –6.87%.  I’m falling behind my benchmark, which is very disappointing.  However, nothing will be changing as a result.  I’ve been here before.  I’ll be here again.  Total return since inception is a more pleasing 51.79%, against a 27.8% increase for the FTSE All-Share.  So I’m well ahead of the benchmark since inception.  That’s the important thing.  You can view the portfolio here.

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2017 in Review

2017 In Review – Portfolio Performance

Another year, another all time high for UK markets.  Both the FTSE 100 and the FTSE All-Share ended at their highest point ever, with returns of 12% and 13% for the year, respectively.  Before looking at how the portfolio has performed alongside this, let’s get the numbers out of the way.

Year-to-date, my portfolio has returned 42.72%, dividends included.  Since I began it in August 2015, it has returned 65.28%.  I have said all along that so long as I am capable of beating the All-Share index (my benchmark) I will pick and choose my investments.  I’m delighted therefore to say that I have beaten this benchmark again in 2017.2017 in Review

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Dialog Semiconductor: A Reminder to Pay Attention

Last week wasn’t a fun one for my portfolio, thanks largely to one particular holding: Dialog Semiconductor.  On November 3oth it was revealed that Apple may begin producing its own power chips from 2018, and Apple is Dialog’s largest customer (74% of revenues).  The following Monday, a statement was released from DLG confirming that Apple are in a position to begin producing their own chips.  The share price is down by over 35% since this news first came to light.  So today I am admitting I haven’t kept my eye on the ball with this particular holding.  Let’s look at what happened.

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