Yes, the S&P 500 has soared ahead of the FTSE All-Share, but beware its overstretched valuation ratios. It’s always best to get off the bull before it turns into a bear For a...
About John Kingham
The Fund Manager
Is it too late to invest in UK housebuilders?
As a group, UK housebuilders have produced astonishingly good financial results over the last decade. This has given their shareholders equally astonishing returns, with average...
The Fund Manager
The Restaurant Group: Weak profitability, long leases and high debts
The Restaurant Group (which I’ll shorten to TRG) joined the model portfolio in early 2016, shortly after the company published some very upbeat 2015 results. Revenues were up 8%...
The Fund Manager
Is the FTSE 100 attractively priced despite its near-record level?
Above-average returns seem likely for the FTSE 100 Over the last 25 years or so, the FTSE 100 has repeatedly zig-zagged between 3500 and 7000, swinging back and forth between...
The Fund Manager
Is Sainsbury’s worth its heavily discounted share price?
Poor old Sainsbury’s. Its share price is currently lower than at any time over the last 25 years and appears to be in free-fall. But how can this be? Surely Sainsbury’s is a...
The Fund Manager
The 2018 stock market correction and the art of being patient
For most investors 2018 was a year to forget and from peak to trough, the FTSE All-Share index lost about 16% of its starting value. For many this was too much to take and...