ISA balance stands at £187,951 as at end of Q1 in year 2 of the project. That brings the grand total profit for the Quarter to a resounding…………..£186.
That’s a lot of effort for £186!
So what did I get wrong? A few things went down (Glencore, Next) a few things didn’t move when I thought they would (Sports Direct, BTG) and one moved up significantly (INSE) – but unfortunately just after I’d sold it.
This was a tough quarter to call. Continued political unrest at home and abroad – in particular the issue with the Saudi’s and the Qataris would normally lead to a pop up in the Oil price – not this time it would appear – we saw 6 month lows last week – the opposite of what I’d predicted.
Easy to let a quarter like this get to you – if you do, you’re not going to last as everyone has bad months, quarters and even years from time to time.
Back to the books. I’ll see if I can dig one out on patience….
Been a busy couple of weeks hence my lack of posts. We have the UK General Election on thursday this week. Another seemingly foregone conclusion – but after Brexit and Trump I am definitely not ruling out a surprise result this time around. What a massive own goal it would be for Tresemme to call an election to improve her bargaining power only to watch it melt away. I suspect they didn’t get on but she really should have asked Cameron about that strategy.
After the terrible events in Manchester and London since my last post I’ve been interested to see that the markets have not really sold off. I remember the 1980s when the IRA were at the height of their bombing campaign – didn’t work then, won’t work now.
However, I do wonder whether we are entering a period of readjustment for the equity markets. The U.S continues to set record highs on not a lot of economic evidence and the UK seems to have shrugged off the Brexit issues even before we have started the negotiations. I don’t want to be the miserable bear in the corner but valuations in some sectors feel distinctly toppy heading into the summer.
Not so Oil. Earlier last week it smashed through $50 and looked set to soar, but didn’t make it and sank back. Seems to be pretty volatile within a range of $47-51 with no clear direction indicated to me at the moment. Overall I think this is a long term buy with low leverage and wide stops. If you try to pick direction in small time frames I think you could get burnt.
Good luck all.