CV Capital – 30 April 2018 update

To my fellow shareholders, April has been a good month for the overall market. The market losses in March were pretty much all recouped in April. In relation to our portfolio, a combination of a big position falling by 2.7%, two smaller positions increasing by 15.9% and 3.3% in April meant that increases in ourRead More

Steamships Trading

As opposed to my usual assortment of cheap low quality companies, Steamships (ticker: SST) is a high quality business currently trading below the market value of net assets with incoming strong tailwinds. Steamships has a long history operating in PNG, this year marks its 100th anniversary. Its controlling shareholder, Swire group (72% interest) of theRead More

CV Capital – 31 March 18 update

To my fellow shareholders, Hope your Easter break was good. Moving forward, I’ll post the shareholder updates on a monthly basis as there may be limited activity to report on a more frequent basis. In many ways, investing is like a game and with a game there are certain rules. However, as these rules areRead More

Regional Express – 1HY18 results

Click here to see my original post on Rex. It was a solid half year result for Rex. No surprises and my views are pretty much the same as my last post. A few points to highlight: The passenger and load factor increases were the main driver of the 60% increase in profit before tax.Read More

CV Capital – 28 Feb 18 update

To my fellow shareholders, The second half of February was good for CV Capital. Not only did some of our stocks post good results during the reporting season which saw their share price rise, I also managed to make our first investment. I actually made two new investments for CV Capital. The first company isRead More

Capral FY2017 results

See my original post on Capral here. The floor didn’t cave in and the stock price went higher. When I wrote my original post, my opinion was that the market at that time was pricing in a bad result for FY2017. Turns out, the FY2017 result was actually pretty decent. FY2017 results were pretty similarRead More

Schaffer – cracker 1HY18 result

See my original post on SFC here. Howe Leather Howe Leather hit the ball out of the park with it’s 1HY18 result. The biggest surprise to me was the improvement in earnings margin. To illustrate how big an improvement this was, the table below compares my estimate of the 1HY18 EBIT margin to historical EBITRead More

CV Capital – 16 Feb 18 update

To my fellow shareholders, Our one month milestone has passed. Although the market (ASX 200 index) fell by 3.5% from 6,121 (close at Friday, 2 Feb 2018) to 5,904 (close at Tuesday, 6 Feb 2018), individual stocks which I have been monitoring did not fall to levels which I felt gave us a big enoughRead More

Another cuppa, moms and dads?

I was inspired to write this post after reading a recent article in the SMH by Noel Whittaker. Cappuccino or latte (cafe latte) is about $3.50 in Sydney. Can you build a nest egg just by forgoing one cuppa a day? You bet. As a parent with a young toddler, I believe starting an earlyRead More