Richard Beddard

Share Watch: looking beneath the bonnet of four good businesses

As well as soul-searching about System1, I have investigated two companies for the first time and two members of the Share Sleuth portfolio this month. Let’s take the newcomers first...

Integrafin 

IntegraFin operates Transact, an investment platform for financial advisers and their clients. By consolidating peoples’ investments in one place, it simplifies record-keeping, reporting and trading.

Nifty Thrifty portfolio: time to say farewell

Nine years ago, we invested an imaginary £30,000 in shares ranked by a formula, to see whether the formula could beat the market.

On a regular basis we refreshed the portfolio, booting out shares that were no longer highly ranked and replacing them with the newest recommendations.

We expected the returns would justify the cost in terms of dealing fees and stamp duty. They would also justify the effort of ranking the shares and accounting for the imaginary trades.

Share Sleuth: why this share passes the Sleuth’s tests

This month, I have added RM, a company I profiled in the May issue’s Share Watch pages, to the Share Sleuth portfolio. I was cautious about it back then, but digging into its history has emboldened me.

RM supplies schools with equipment and IT, and examination boards with e-marking software. These businesses are not obviously natural bedfellows, which means the company is complex and has to do lots of things well – one reason for my caution.

Share Sleuth: time to measure performance more accurately

This month, I have refrained from trading, although I might have added shares in Anpario had I realised the portfolio had enough cash to add a small holding. The company briefly strayed into value territory and now sits right on the cusp by my estimation. Like Porvair, Anpario has been on my watch list for many years.