Added #INPP on weakness and #VGOV#TRLG this morning: happy with John Bull and uncle Sam paying me 4.61% and 4.98% pa with their AA and AA+ ratings. This is all transient, anyway, until the forthcoming crisis forces rate reductions.
Terry Smith is currently the favorite punching bag of the investing world. After a period of underperformance, his "Quality" strategy is under heavy fire.
But if you actually listen to the 2026 AGM, you’ll find one of the most rational voices in the market. While everyone else is drunk on AI hype, he’s soberly dissecting the data.
I’ve handpicked the 7 most thought-provoking slides 👇🏻
Fonix #FNX posted another set of strong results with double digit revenue and adj EBITA growth. Dividend raised. Shares up 12% today but forward PE still 13.7. Div yield 4.6%. I hold. May add on any weakness.
Having done some work on #SLP, I have to agree. Valuation is silly here. A bit late to the game but I have just purchased a sizeable position. There must be still plenty of upside plus a juicy 6% pa dividend. Thanks for flagging it @apeconomics69
The stupidest valuation in all of precious metals space by far
#SLP I added so much to my position right before the results and thank god I did
Fantastic company and the easiest 5x you will find over the next 3 years imo
$SLP.L
VICI dipped after raising its credit loss allowance, but this was tied to a small private tenant, not Caesars. Meanwhile, AFFO per share grew 4.6%, guidance was slightly raised, and leverage improved to 4.9x EBITDA. $VICI $CZR
@bondconnoisseur@junkbondinvest That’s not instrument complexity. That’s risk profile vs portfolio default rates vs loan margins & weighted average portfolio purchase price. I wouldn’t touch equity, Bs & BBs in today’s markets (or 2025, come to that). But there is nothing complex about that. All about par value
@bondconnoisseur@junkbondinvest In a society where 90% of the population do not understand a concept of compound interest, CLOs are indeed complex… In reality, they are very very simple.
New positions started: boring, deep value, steady growth US names - $AWI and $AROC. Appear to be significantly undervalued and under radar (despite $AWI assigned the highest Zack’s rating if 10).
Continuing the same theme in my US portfolio, bought $LMT and $LHX plus a chunk of a Charles Schwab US defence “theme”. Schwab’s themes are a limited solution to circumventing an effective ban on ETF investing by UK and EU residents.