A cyclical masquerading as a stalwart
Honeymoon over before the wedding
I’m grateful to Rijk, John Kingham and Trident for giving me something to think about as I stumbled through equipment hire company Vp’s past annual reports.
A bargain, however you calculate it
A classic net-net
This is the reason to hold Titon: The market has given up any prospect of recovery. The share price values its assets at 30% less than my guesstimate of their valuation in liquidation.
Recovery postponed at Titon
Bad news in perspective
Diminutive window latch and ventilator manufacturer/distributor Titon made a far from titanic £5,000 operating profit in 2011. Courtesy of interest and a tax credit, net profit actually made it into the hundreds of thousands. Just.
Vp: not as silly as it sounds
It all started with a vibrating roller
Not often you can say that about a company, is it? The ‘V’ in Vp is for ‘Vibrating’ and, fortunately, this story gets duller from there. The ‘p’ stand for ‘plant’, as in Vibrating Roller and Plant Hire Ltd., founded in 1954. The name was later contracted to Vibroplant, and then Vp.
Greene is not King
Note to self: don’t just check. Think!
I must have been drunk on Monday. Drunk on the idea of adding brewer, pub and restaurant chain Greene King to the portfolio. Continue reading »
Comments
- Hielko on A bargain, however you calculate it
- Richard Beddard on A cyclical masquerading as a stalwart
- John Kingham on A cyclical masquerading as a stalwart
- The Top Investment Blogs | Vuru Blog on In theory: Value investing from the masters
- Richard Beddard on A cyclical masquerading as a stalwart
- Wexboy on A cyclical masquerading as a stalwart
- Market Musings 26/1/2012 « Philip O'Sullivan's Market Musings on MARS Attacks!
- Richard Beddard on A bargain, however you calculate it
- Nate Tobik on A bargain, however you calculate it
- Nate Tobik on A bargain, however you calculate it
- Richard Beddard on A bargain, however you calculate it
- Nate Tobik on A bargain, however you calculate it
- Richard Beddard on A bargain, however you calculate it
- Nate Tobik on A bargain, however you calculate it
- Richard Beddard on A bargain, however you calculate it
- Richard Beddard on A bargain, however you calculate it
- John Kingham on A bargain, however you calculate it
- John Kingham on A bargain, however you calculate it
- Richard Beddard on Vp: not as silly as it sounds
- Market Musings 22/1/2012 « Philip O'Sullivan's Market Musings on Greene is not King
RB on Twitter
- @oddballstocks @McElligottJ I'm thinking abt adding more Titon. Then you buy more. @UKValueInvestor adds some. Puts me in a quandary :-)
- @McElligottJ A downside of blogging is you realise you're not as original as you thought! Sometimes I worry abt value investors herding...
- MT @McElligottJ buys T30 member, airline and haulier, DART. Good write up: http://t.co/DhIT8eRz
- Wondering if Autlogic's price was swatted b/c Guinness Peat unloaded. Thing is GPG is liquidating most of its portfolio http://t.co/g1pfPboi
Latest posts
- A cyclical masquerading as a stalwart
- A bargain, however you calculate it
- Recovery postponed at Titon
- Vp: not as silly as it sounds
- Greene is not King
- An innocent among investment bankers
- Cash flow check on accounting
- Keeping it simple is harder than you think
- Games Workshop in two minutes
- A pleasant St Ives
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