Caledonia Investments (ticker: CLDN) is a self-managed trust whose story dates back to the 1870s, when the Cayzer family established a shipping business called the Clan Line. After the shipping business was sold off during the 1970s and 1980s, Caledonia continued as the Cayzer family's investment vehicle. It only became an investment trust in 2003, soon afterwards buying out some dissatisfied family members. The Cayzers remain the dominant holders, with the family owning around 50% of the trust's shares; this limits its ability to do significant buybacks, and CLDN's discount has widened from a...
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JPMorgan Claverhouse (JCH) was set up in 1963 and is a UK Equity Income trust with a market capitalisation of about £500m. Its dividend yield is 4.0%, a little higher than the sector average, and it sits in eighth position in the AIC's Dividend Heroes list with a 53-year record of increasing its payout. JCH is managed by the team of Anthony Lynch, Katen Patel, and Callum Abbot. Lynch and Patel were appointed in July 2024, while Abbot has been involved since 2018. JCH aims to hold between 60 and 80 companies and benchmarks itself against the FTSE All-Share with various weighting restrictions on...
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The markets have continued their positive start to the year, with some potentially important technical moves as well that are giving me pause for thought. I have completed the makeover of the Money Makers portfolios that I put in place at the end of last year and will be explaining those in my next set of videos, out shortly. Stuart's latest profile is of the SDCL Energy Efficiency investment trust (ticker: SEIT).
2022 in hindsight Track records and historical precedents in investment are good servants but poor masters, not least because of the need for context and perspective. Here for exa...
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Jonathan Davis I am taking a two week holiday from this weekend so there will be no notebook or Q and A for the next fortnight, although the weekly podcast, news update and Stuart Watson's fund profiles will continue as normal. This week's content includes the recording of the Gervais Williams Q and A that I mentioned last week, a short market update video and these notes. When I return there will be more regular portfolio updates (I have some changes in mind) and also some thoughts on stock screening.
August is the quietest month? There is no good time to take a break from market watching b...
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