Case Study: 3 Year investment in AstraZeneca PLC returns 17% per year

AstraZeneca share price chart

The Defensive Value Portfolio’s investment in AstraZeneca PLC has been an almost textbook example of how a strong, market-leading company can survive through tough times, and how patient and brave investors can sometimes get lucky.  Investment overview When AstraZeneca was added to the portfolio back in 2011 it was seen as a high risk investment, primarily because of […]

Managing a dividend income retirement portfolio

Rising dividends

Investing for retirement generally has two phases; accumulation and draw-down. Fortunately these two phases can both be accomplished using the same portfolio and in fact the same strategy.  All you have to do is switch from reinvesting dividends to drawing them as a retirement income. I’ve been covering the accumulation phase for a long time […]

Stock market valuation mean reversion: A powerful force

stock market

Stock market mean reversion, or less technically, the tendency of stock market valuation ratios to stay relatively close to their long-term average, is one of the most important concepts in my investment framework. Without mean reversion the market would never be expensive or cheap, and beating the market may be impossible.  Fortunately for those of us […]

AstraZeneca or GlaxoSmithKline: Which is the better Big Pharma investment?

iStock - Pills

AstraZeneca and GlaxoSmithKline have both been in the news this week.  In fact, to some extent they have been the news this week. Investors flocked to buy AstraZeneca shares when a £60 billion takeover bid from Pfizer surfaced, and they stampeded into GlaxoSmithKline shares on the news of its three-part deal (one business sale, one acquisition […]

Kier Group plc: A good way to invest in a recovering construction sector?

construction workers

Kier Group plc (LON:KIE) is one of the UK’s leading construction companies, although with substantial Services and Property divisions, it does much more than just construction.  Given that the UK construction sector may be recovering I thought I’d take a look at one of the big players. A brief history of Kier Group plc The […]

The company I like the best

Investment Analysis

Guest Post: Theodor Tonca of Graham Theodor & Co. Ltd explains why he’s taken a liking to a UK based, deep value opportunity.   London Finance & Investment Group plc (LFI) is in the business of industrial equipment leasing, manufacturing, communications, distribution, logistics and providing corporate administration services. Such a concern would be multi-faceted to say the […]

Sold: Mears Group PLC shares return 91% over 3 years

Mears share price 2014 03

Mears Group PLC is a bit of an undercover defensive.  It’s not a company that gets much attention among investors (at least those that I know), and yet it has a fantastically successful track record. After starting life in 1988 as a building contractor, the company grew quickly, partly through acquisitions, and entered the Alternative […]