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Growth Portfolio 2

January 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The Growth Portfolio lifted by a further  5.1% , building on the 5.9% gain in December, and is the fifth month in a row of successive gains. Again the performance was driven by a succession of new highs. Notable this month were the three support service portfolio constituents,  Mears, Erinaceous and Spice. The other star was Accident Exchange, which at one stage touched £3, close to becoming afive-bagger since our buy in August. We decided to avail of that opportunity and sold a further 2,500 shares at 291p. New broker, Numis,has just issued a note forecasting eps of 7.8p for the current year to30 April with 17.8p next year, so after the dramatic rise they are no longer particularly cheap. We also banked a good profit on  Flying Brands a ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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