CV Capital – 30 April 2019

To my fellow shareholders, The market continued its strong run in April. Since the beginning of the year, our benchmark (STW) has returned 17.3% inclusive of dividends and franking credits. I have to admit that I am surprised at the strength of equity markets globally given the trade hostilities between the two largest economies inRead More

CV Capital – 31 March 2019

To my fellow shareholders, Our accountant has finalised the FY2018 financial statements which I have sent to you by email. They have also independently calculated our pre-tax net asset per share value to be $1.0755 (Page 4) which verifies my calculation for FY2018 return of 7.6%.  I read that Geoff Wilson, a famous Australian fundRead More

CV Capital – 28 February 2018

To my fellow shareholders, I have recently got back to Sydney after being away for a month which is the reason for the slight delay and brevity of February’s report. The stock market is having an amazing start to 2019. Year-to-date (1 Jan 19 to 28 Feb 19) our benchmark STW is up 11.8% erasingRead More

CV Capital – 30 November 2018

To my fellow shareholders, Maintaining the trend from October, the ASX 200 index was down approximately 3% in November, without taking into consideration dividends. US China trade war and rising interest rates in the US have all weighted on the market. Unless there is a major rally in December, it is increasing looking like calenderRead More

CV Capital – 31 October 2018

To my fellow shareholders, October has not been a kind month for stocks, the ASX 200 fell 5.5% in October. This drop was not triggered by domestic issues but rather events in the US market which spread around the globe. The phrase “When America sneezes, the world catches a cold” is especially true in theRead More

CV Capital – 30 September 18

To my fellow shareholders, September has been a relatively quiet month as I have been travelling. However, we did make our biggest exit to date. We sold our entire position in SVWPA (my original thesis here). SVWPA was a perpetual preference share issued by Seven Group Holdings (SGH) that was trading at $82 (below parRead More

CV Capital – 31 August 2018

To my fellow shareholders, The month of August is a bit like d-day for stocks. It is reporting season for most ASX listed stocks and as an investor, August can be a make or break month for your stock thesis. We were fortunate at CV Capital that the reporting season has resulted in a monthlyRead More

CV Capital – 31 July 2018

To my fellow shareholders, We raised new capital in July and as a result issued 163,125 new shares. I took the opportunity to transfer more of my personal shares into CV Capital. As a result, most of my personal portfolio now resides in CV Capital. The way I account for these transfers is to adoptRead More

CV Capital – 30 June 18 update

To my fellow shareholders, Six months have gone pretty quickly and here we are at our first half year milestone. Overall, I’m pretty excited about the portfolio.  For most of our positions, the stock price has not changed materially since we purchased them and if my thesis plays out then I think the gains areRead More