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...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
I am experimenting with a series of shorter videos covering specific asset classes and investment trust sectors. The notes this week include the first of these, together with a short summary of my current thinking about the market cycle.
Market overview Once again I have reason to be grateful for technical analysis, which has kept me from making too grievous a mistake in thinking about the equity and bond markets so far this year. The essential message from the charts has been; don't rush to judgment and in particular don't buy too readily the argument that both equity and bond prices are...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
Caledonia Investments (ticker: CLDN) is a self-managed trust whose story dates back to the 1870s when the Cayzer family set up a shipping business called the Clan Line. Caledonia owned the Clan Line and the Cazyer's other business interests before becoming a dedicated investment vehicle in 1987. It now holds a mixture of quoted equities, large stakes in several private companies, and US/Asian private equity funds. The Cayzer family owns 49% of the trust's shares, which limits buybacks, so the trust often trades on a large discount (it's currently around 30%). Will Wyatt, part of the Cayzer fam...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
© 2026 Money Makers