Good evening all, this is my first proper update on this blog where I'll begin to go through my a few things such as portfolio performance, buys & sells, and any shares generally which have caught my eye.
I guess there's only one place to begin this week, and that's the US Election! As with the Brexit vote, the result came as a complete shock to many with images of people crying, rioting and outright condemnation from many both in the States and indeed here in the UK. People are saying it was a vote against the establishment, a vote for the common person and a vote for someone who shares their beliefs. I'm sure multi billionaire President Trump is just the person to fill this role! Politics aside, the markets have taken a bit of a hit initially, though as with Brexit, I think we can be pretty confident that things will recover quickly and move upwards as we move into the traditionally buoyant December.
In my own dealings, I've sold one and bought one this week. I'll begin with the sale, PhotoMe (PHTM) was a share I hadn't really held too long and to be honest, I bought it on the back of a recommendation (I know I know). It initially moved up a touch but then showed signs of turning southwards in the short term and decided to cut it for pretty much breakeven. I'll be honest, I hadn't totally done a great deal of research into either so played a heavy role in my decision having done a lot of reading recently (more on that shortly). Since selling it's continued to drop so perhaps for now it will prove to be a good decision but I shan't dwell on it too long from here on.
As I say, I also made a purchase. H&T Group (HAT) delivered a positive trading update this week, commenting that full year profits are expected to be "above the top end of market expectations". Very positive indeed. Buoyed by the increase in price of gold this pawnbrokers/payday loan company are steadily increasing profits over the past 2 years plus whatever the results show this. I'll keep a close eye on this one as it needs to break through 300p to progress I feel.
I've added a couple of shares to my watch list also, those being Trifast (TRI), and Somero (SOM). Both tick all the boxes I am trying to look for in companies going forward and will keep a close watch on how they move.
Over the past couple of weeks I've got through a fair bit of reading on trading and investing. Allegedly knowledge is power so am trying to take in as much as possible, whilst trying to avoid overcomplicating things which could cloud any judgements made. I finished "The Naked Trader: 4th Edition" (https://harriman-house.com/the-naked-trader-4) early in the week, which is pretty much a standard bible for uncomplicated advice and guidance on the subject, seriously if you're even thinking about dabbling in the market, read this book first! I also have the 2nd Edition of the same but this is the most up to date and there are a lot of new things added which are much more relevant in todays markets. I know it'll never be too far away from my side when doing any research in the future.
Another book I've been reading is called "The Art of Execution" by Lee Freeman-Shor (https://www.amazon.co.uk/Art-Execution-investors-millions-markets/dp/085719495X). Lee was a fund manager at Old Mutual Global Investors and this book looks at his finding from reviewing deals made by a group of investors he managed between 2006 and 2013. He groups the investors into 5 categories based on their psychological tendencies and the results that these yielded. I've not quite finished it yet but it's well worth a look into when thinking about mindset and what plans you put in place when holding both losing and winning positions.
Until next time,
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Confessions of a Crap Trader is a blog following a regular investor trying to make profit via the London Stock Exchange. Follow his journey as he attempts to hopefully one day pay his mortgage off in full!