OK patience finally ran out today and both Tesco and Morrisons have gone from my portfolio.
Frustrating to say the least, and with hindsight, far too late but, with one dividend cut at Tesco, management change, and ongoing suspicion about accounting standards and culture; and continued speculation around Morrisons dividend, coupled to a patchy strategy, my reasoning is to boost my war chest and recycle the remaining funds back into something with a little more certainty around its current situation.
Obviously not happy with myself for holding on, and probably will watch as they bottom and rise from here, but I've spent all of this year to date speculating as to their merits of a place, and longer still spent speculating about Morrisons strategy and management!
So better to cut my losses and start looking forward again.
C'est la vie!
Monday, 29 September 2014
Monday, 15 September 2014
August 2014: Portfolio Update.
Two thirds of the year down, and my portfolio continues to run a small year to date loss of -0.34% v. the FTSE100's 1.05%.
Very disappointing but understandable given the difficulties and setbacks from my largest holding, Rolls-Royce, the 2 supermarket investments, Tesco and Morrison, and then the strength of the pound against the dollar.
Still disappointing, and probably should have seen me axe the supermarkets.
So the month is traditionally by best for dividends received as National Grid payout in August, with further contributions from Imperial Tobacco, Apple, Verizon, and Vodafone.
The only swings of note in the portfolio coming from a renaissance in Apple, +9.08%, and the sinking of Tesco, -10.87%.
Very disappointing but understandable given the difficulties and setbacks from my largest holding, Rolls-Royce, the 2 supermarket investments, Tesco and Morrison, and then the strength of the pound against the dollar.
Still disappointing, and probably should have seen me axe the supermarkets.
So the month is traditionally by best for dividends received as National Grid payout in August, with further contributions from Imperial Tobacco, Apple, Verizon, and Vodafone.
The only swings of note in the portfolio coming from a renaissance in Apple, +9.08%, and the sinking of Tesco, -10.87%.
| Merchant Adventurer's Index | ||||||||||
| Forecast | 1 month | YTD | 44 mth | |||||||
| Price | % holding | Div. yield | % gain | % gain | % gain | |||||
| R-R | 1021.00p | 26.78% | 2.49% | -1.83% | -18.42% | 55.53% | ||||
| National Grid | 899.00p | 14.33% | 4.82% | 5.15% | 14.09% | 62.57% | ||||
| Aviva | 521.00p | 11.08% | 3.68% | 3.37% | 15.86% | 54.20% | ||||
| BP | 481.65p | 5.08% | 5.18% | -0.49% | -1.31% | 6.32% | ||||
| Apple ** | $102.50 | 6.99% | 1.63% | 9.08% | 27.20% | 69.61% | ||||
| Vodafone | 206.75p | 2.05% | 5.50% | 4.42% | -18.05% | -18.05% | ||||
| Verizon ** | 3001.31p | 1.42% | 3.79% | -0.58% | 8.14% | 8.14% | ||||
| IG Group | 607.00p | 3.95% | 4.71% | -0.49% | -1.46% | 27.20% | ||||
| William Hill | 350.00p | 2.89% | 3.63% | -0.85% | -12.91% | 90.04% | ||||
| Imperial Tobacco | 2627.00p | 2.67% | 5.34% | 2.18% | 12.36% | 16.29% | ||||
| BAT | 3553.50p | 2.44% | 4.43% | 2.02% | 9.74% | 5.94% | ||||
| General Electric ** | $25.98 | 1.84% | 2.71% | 5.09% | -7.80% | 60.02% | ||||
| Microsoft ** | $45.43 | 2.04% | 2.12% | 7.08% | 20.73% | 52.88% | ||||
| BAE Systems | 445.10p | 1.61% | 4.69% | 4.00% | 2.32% | 34.88% | ||||
| Centrica | 319.40p | 1.45% | 5.69% | 3.37% | -8.14% | -3.68% | ||||
| SSE | 1518.00p | 1.52% | 5.92% | 4.19% | 10.80% | 23.92% | ||||
| Morrisons | 177.50p | 0.81% | 6.95% | 5.03% | -31.99% | -33.67% | ||||
| BG Group | 1201.50p | 1.27% | 1.70% | 2.52% | -7.40% | -7.29% | ||||
| Tesco | 229.95p | 0.67% | 3.78% | -10.87% | -31.22% | -42.36% | ||||
| Barrat Dev. | 369.90p | 1.19% | 3.84% | 5.99% | 3.48% | 3.48% | ||||
| Cash | 7.92% | 0.00% | ||||||||
| 100.00% | 3.34% | |||||||||
| 1 Month | YTD | 44 mth | ||||||||
| Virtual Portfolio gain (incl. Dividends) | ||||||||||
| - 1 month gain 2092.15 - | 2132.02 | 1.91% | ||||||||
| - YTD gain 1644.62 | 2132.02 | -0.34% | ||||||||
| - 44 month gain 1264.20 - | 2132.02 | 68.65% | ||||||||
| - 56 month gain 1000.00 - | 2132.02 | 113.20% | ||||||||
FTSE gain (excl. Dividends)
| ||||||||||
| - 1 month gain 6730.11 - | 6819.75 | 1.33% | ||||||||
- YTD gain 5897.81
| 6819.75 | 1.05% | ||||||||
| - 44 month gain 5971.01 - | 6819.75 | 14.21% | ||||||||
| - 56 month gain 5412.88 - | 6819.75 | 25.99% | ||||||||
| Transactions: | ||||||||||
| 05/08/2014 |
Div
|
Verizon @ 26.56p per share
| ||||||||
| 06/08/2014 |
Div
|
Vodafone @ 10.55p per share
| ||||||||
| 18/08/2014 |
Div
|
Apple @ 23.59p per share
| ||||||||
| 19/08/2014 |
Div
|
Imperial Tobacco @ 38.8p per share
| ||||||||
| 20/08/2014 |
Div
|
National Grid @ 27.54p per share
| ||||||||
Notes:
| ||||||||||
* US Dividends are adjusted for exchange rate and 15% withholding tax
| ||||||||||
** Sterling : Dollar exchange rate = £1: $1.65994 as at 31/08/14
| ||||||||||
Chartwise, things are back pushing the ceiling of all time highs so its not all bad news, more one of consolidation.
 |
| Click to enlarge, close to return. |
So looking ahead, one topic I have chosen to ignore is the Scottish referendum, mainly because I don't understand the outcome but the sooner the better as it is the uncertainty that has the biggest effect.
Anyway, I have added new funds to my portfolio, rather than re-invest, in the poor deals now on offer.
These have actually come from many years invested in the National Savings Index Linked certificates so it has been disappointing to give them up but at least allows me to recycle the funds back into my ISA.
I will be looking to invest most of this before the year-end and any traditional year-end rally, although I also like to get past October and its historic "Black" events
Previous Posts:
- July 2014: Portfolio Update.
- June 2014: Portfolio Update.
- May 2014: Portfolio Update.
- April 2014: Portfolio Update.
- March 2014: Portfolio Update.
- 2013 Dividends profiled.
- February 2014: Portfolio Update
- January 2014: Portfolio Update
- December 2013: Portfolio Update.
Anyway, I have added new funds to my portfolio, rather than re-invest, in the poor deals now on offer.
These have actually come from many years invested in the National Savings Index Linked certificates so it has been disappointing to give them up but at least allows me to recycle the funds back into my ISA.
I will be looking to invest most of this before the year-end and any traditional year-end rally, although I also like to get past October and its historic "Black" events
Previous Posts:
- July 2014: Portfolio Update.
- June 2014: Portfolio Update.
- May 2014: Portfolio Update.
- April 2014: Portfolio Update.
- March 2014: Portfolio Update.
- 2013 Dividends profiled.
- February 2014: Portfolio Update
- January 2014: Portfolio Update
- December 2013: Portfolio Update.
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