24 Feb 2011
A quantitative model
The model that makes up about 80% of my stock picking process has undergone several minor adjustments, one following quickly after the other. Since I have referred to it quite a bit recently I thought it might be useful to thrash out the details as well as its history.
The model detailed here replaced a previous effort which I used through 2008-2010. The old model focused almost exclusively on the balance sheet rather than on earnings, but eventually I had to admit that earnings might be important so I started this new one from scratch, basing it on the strongest research I could find.
The model detailed here replaced a previous effort which I used through 2008-2010. The old model focused almost exclusively on the balance sheet rather than on earnings, but eventually I had to admit that earnings might be important so I started this new one from scratch, basing it on the strongest research I could find.
19 Feb 2011
Portfolio review – January 2011
At the end of January my fund was down over 1% taking the rolling one year figure to 13%, slightly lagging the FTSE 100. 13% is down a long way in relation to the December one year figure (22%) but that’s due to what happened last January rather than in this one (last year’s was much better).
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