End July update

Let me first tell you about my end month trades. Vodafone were down in the dumps but suddenly improved to just over 150p, so I sold my ISA holding at 151.29 p which gives a profit – put into ISA at circa 139p earlier this year. The improvement was put down to a merger of cell tower businesses in Italy and I am unsure about the effect of 5G on towers.

The other trade – in my ISA – was a purchase of Fundsmith Emerging Equities Trust (FEET.L) at 1195.25p. This is a small trust – market cap about £318m – standing at a discount to nav of approx 1300p. Not a great performer to date, but an internal change of management responsibility could be helpful.

Looking at month end prices, the main improvement came from the US stocks. BABA 173.11, NVDA 168.72, MSFT 136.27, SCHD 53.95, VIG 117.73, NOK 5.41 all up modestly and ROKU 103.33 up about 12%.

Despite the weakness in sterling to around 1.2120 today, UK stocks have had a much more difficult time. Improvements were seen in Smithson I T 1272p, Bango 124.5p, and Premier 84.04p. Prudential 1698p, Superdry 433.2p, and S4 155.5p were all down. Some stocks that I either used to own long ago or was thinking about before bad news came out have been very poor. Just look at the charts of Centrica and Metro Bank !

My watchlist includes SNAP 16.80 where my initial trade did well, and Slack (WORK) 33.42 while my cash position is about 20% on PA and 8% on Pension Fund.

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