End August Review

August has been dominated by the ‘so-called” trade war with China in the US, and Brexit in the U.K. So it is hardly surprising that equity markets have been choppy.

Looking at the US holdings, the best by far has been Roku, up from 103.33 to 151.36. My new holding of Mongo DB rose from its purchase price of 142.83 to 152.31. My new holding of Slack fell from its purchase price of 30.67 to 28.64. Most other US holdings recorded small price movements, apart from Nokia ADRs down from 5.41 to 4.96 and Snap ((watch list holding with a view to repurchase) down from 16.80 to 15.83.

The U.K. market was generally poor, as I suppose international investors were selling. I think that Bango was the only riser, up from 124.5 to 129.5. Prudential were surprisingly weak, down from 1698 to 1368, and Superdry were down just under 10% at 395.4. Of the relatively recent investment trust purchases, Smithson held on to most of recent gains at 1256 and Fundsmith Emerging were down just over 4% at 1140 (not forgetting NAV which also moved down to 1263)

I will be looking to make further changes as opportunities come along, as I still own funds and equities that give cause for concern.

The biggest takeaway from recent movements has been to stick to an irregular rule of investment – “find smart people”. One from years ago is now retired, another from a few years ago has been dropped because I don’t like short term strategies on spread betting with stop losses. So I’m left with two – both of whom are a lot smarter than me.

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