I Am Bonds – Asset Allocation Is Personal

Personal finance is always personal. It’s in the name. Yet many people forget about this. They want quick fixes by trying to use pre set formulas. Yes these can act as guidelines. But there is no substitute for taking into account ones needs and circumstances. Take asset allocation for instance. We all know the rules. Have X amount in stocks. Have X amount in bonds. Have X amount in commodities.   It’s strange that people follow these rules so rigidly and don’t take into account their own personal situations. The only individualistic factor I would say most people take into account is age – the proportion invested in bonds goes […]


Imperial Brands (IMB) Share Purchase – 10% Dividend Yield Covered By Free Cash Flow

Regular readers of this website will know that I am a huge fan of Imperial Brands. So much so that it is the largest stock position in my portfolio at close to 10%. But the price of IMB has been falling of late. This is in contrast to the underlying business performance where revenues, profits and dividends have been increasing! So why have shares in IMB dropped so much. Below are a few of the reasons I think why. 1.Big money is becoming more ethical. By this I mean that the large pension funds, sovereign wealth funds, insurance companies and fund houses do not want to hold sin stocks such […]


What I Have Been Reading – May 2019

Munger Teaching Buffett About Quality  “At Munger’s 90th birthday party, Buffett pulled out an old, yellowed letter that Munger had written back in the day where Munger actually told Buffett explicitly that he had to change — that the cigar-butt stuff wouldn’t scale, that it was better to buy good businesses even if the price wasn’t dirt cheap marketwatch.com   Comparison According to the survey, three in five Americans pay more attention to how their friends spend compared to how they save, with an equal number saying they’re at a loss to understand how their friends are able to afford the expensive vacations and trendy restaurant meals they portray on […]


Tom Gayner (Markel) – 14 Golden Investing Rules

Tom Gayner is co-CEO and chief investment officer at Markel Corporation, a holding company for insurance, reinsurance, and investment operations around the world. The company has often been compared to Berkshire Hathaway in the way it operates. Gayner is an excellent investor and one of the best in the modern era. Just go and look at his performance at Markel for proof of this. Gayner gave a talk at google a couple of year’s back which was a masterclass. That talk had a number of golden nuggets. Here are 14 of them which every investor can learn from. Enjoy! Invest in profitable businesses. Focus on those that have good returns […]


Kenny G – Secret Buy & Hold Dividend Millionaire

If you had to do a double take of the title, I wouldn’t blame you. But Kenny G is in fact a secret buy and hold dividend millionaire. Yes the same Kenny G who rose in stardom during the 80’s and 90’s with hits such as Duotones, Going Home, Forever in Love and Sentimental. So how exactly did this world renowned saxophonist become a stock market millionaire? Kenny G invested in Starbucks in the 1980’s. Here is a video of him taking about this investment. Kenny G met Howard Schultz, the founder of Starbucks, after a recommendation from his uncle (Harold Gorlick), one of the first investors in Starbucks. Harold […]


Are People Buying The Wrong Coke – COKE VS KO

Coca Cola. Probably the most ubiquitous brand in the world. The iconic company is so unique that it is almost impossible for the company to be mistaken for another. Yet a case of mistaken identity is what appears to be happening – at least in the stock market. A very strange thing has been happing in the markets recently. The share price of Coca-Cola Consolidated (COKE) has rocketed from $180 at the start of the year to close to $400 today. This is an astonishing rise of 122% in under 5 months. Naturally, curiosity got the better of me and I went to look at the accounts for COKE. What […]


How To Create Your Own Universal Basic Income

Universal Basic Income (UBI) seems to be popping up in the news again. It seems that policy makers cannot decide whether the benefits of UBI outweighs the costs. There has been numerous trial UBI projects over the years conducted in countries such as Kenya, India, the United States and Canada but results have so far been inconclusive. In fact, a report by British think-tank the New Economics Foundation (NEF) has found “no evidence that any version of UBI can be affordable, inclusive, sufficient, and sustainable at the same time.” So if you are one of the people sitting around waiting for UBI to be implemented on a large scale, I wouldn’t hold […]


Not All Money Is Made Equal

When I started my career, I was focussed on active income. Income that I had to work day after day for. A pay cheque or a salary so to speak. I only got paid if I put in the effort by going to work day after day. I was pulling in £27,000 a year from my day job. In order to attain this, I worked very hard. I often worked 45+ hours a week and was exhausted by the end of it. Having no time during the week, I did most of my chores and shopping on Saturdays and Sundays were a day to recharge in order to do it […]


April Stock Market Purchase – PZC IMB Victrex

April has brought about the new tax year and with it comes a fresh tax free investment allowance. The temptation would be to buy into the markets with as much cash as I have on hand in order to start benefiting from this allowance immediately. The long held wisdom is to invest at the beginning of the year so that you let compounding get to work immediately and do the heavy lifting for you. By investing at the beginning of the tax year as opposed to the end will leave you with an extra year of returns. After all time in the markets is more important than timing the markets. […]


What I Have Been Reading – April 2019

A few stories that caught my eye over the last month The Life And Lies Of Anna Delvey Sorokin has a Russian passport, but she tricked many New York elites and socialites into believing she was an heiress from Germany with a bottomless bank account. In 2016 and 2017, Sorokin lived out of luxury boutique hotels, including the 11 Howards in SoHo, dined in expensive restaurants and often shopped at designer boutiques, reportedly offering to cover the bill for her friends any chance she could. According to evidence presented at her trial, the 28-year-old also forged financial documents, lied about her family, and faked having an accountant and financial adviser […]