My Approach to Investing
Summary
I focus my efforts on small and mid-sized companies searching for those where the growth prospects are not reflected in the share price. I am disciplined about the valuation I am prepared to pay; I don’t like to pay over 20x forecast earnings and favour companies that are paying a growing dividend and have a prospective dividend yield of at least 2.0%. I search for companies generating strong cash flow and if not having net cash, then debt levels that is low to moderate. Where possible I like to meet management and understand what makes them tick and if they have a decent stake in the business so much the better; our interests are aligned! I like companies that are beating expectations and earnings forecasts are being upgraded. Ultimately I am looking for the “double whammy” that comes from a re-rating and from faster than expected earnings growth. Having found a potential investment I look at the share price chart as it can help with timing; so often resistance and support levels work. I size a position based on my assessment of the potential Risk and Reward of the stock. I hold between 20 and 30 holdings, making use of investment trusts for overseas or thematic exposure.
The most important number to me is the return of the Portfolio! I try not to get too emotionally involved with individual companies; if I cut a holding and it immediately bounces, so be it. All that matters is the return of the Portfolio, each month, each year, each decade!
I invest principally in the UK
I invest mainly in UK stocks as that is where I have gained my experience. There are clearly opportunities to invest in overseas companies, and it is fair to say that it is now much easier to get the information you need. I think that for a private investor, such as myself, with limited time resources, it is better not to spread my net too wide. For me, it makes sense to focus my efforts on a market where I have experience and familiarity.
I focus on mid and small-sized companies
I focus on mid and small-sized companies but not exclusively.
The FTSE 100 Index comprises the largest 100 companies and by value accounts for around 70% of the UK market, The FTSE 250, (the next 250 companies) accounts for about 25% of the market by value, and the FTSE Small Cap, FTSE Fledgling and FTSE AIM, the remainder.
The table below shows the percentage returns over 1, 3, 5, and 10 years to 31st December 2020
My Approach to Investing
Summary
I focus my efforts on small and mid-sized companies searching for those where the growth prospects are not reflected in the share price. I am disciplined about the valuation I am prepared to pay; I don’t like to pay over 20x forecast earnings and favour companies that are paying a growing dividend and have a prospective dividend yield of at least 2.0%. I search for companies generating strong cash flow and if not having net cash, then debt levels that is low to moderate. Where possible I like to meet management and understand what makes them tick and if they have a decent stake in the business so much the better; our interests are aligned! I like companies that are beating expectations and earnings forecasts are being upgraded. Ultimately I am looking for the “double whammy” that comes from a re-rating and from faster than expected earnings growth. Having found a potential investment I look at the share price chart as it can help with timing; so often resistance and support levels work. I size a position based on my assessment of the potential Risk and Reward of the stock. I hold between 20 and 30 holdings, making use of investment trusts for overseas or thematic exposure.
The most important number to me is the return of the Portfolio! I try not to get too emotionally involved with individual companies; if I cut a holding and it immediately bounces, so be it. All that matters is the return of the Portfolio, each month, each year, each decade!
I invest principally in the UK
I invest mainly in UK stocks as that is where I have gained my experience. There are clearly opportunities to invest in overseas companies, and it is fair to say that it is now much easier to get the information you need. I think that for a private investor, such as myself, with limited time resources, it is better not to spread my net too wide. For me, it makes sense to focus my efforts on a market where I have experience and familiarity.
I focus on mid and small-sized companies
I focus on mid and small-sized companies but not exclusively.
The FTSE 100 Index comprises the largest 100 companies and by value accounts for around 70% of the UK market, The FTSE 250, (the next 250 companies) accounts for about 25% of the market by value, and the FTSE Small Cap, FTSE Fledgling and FTSE AIM, the remainder.
The table below shows the percentage returns over 1, 3, 5, and 10 years to 31st December 2020
ABOUT ME
I launched this website in January 2012 so that I could share with other investors how I manage my investment portfolio; the JIC Portfolio.
There is complete transparency with the current portfolio and all transactions shown. I explain all trades through my blog and hope the site provides food for thought to more experienced investors as well as helping those who are new to managing their own portfolios. I believe JohnsInvestmentChronicle is unique: There are plenty of “tipsters” who will remind you of the “good ones” and quietly forget the disasters; I do not have that luxury as the Portfolio is there for all to see, backed with real money; mine! I have to confront my mistakes and deal with them; there is no hiding place! Above all, this is a true expose of the trials and tribulations of a private investor!
JOHN'S INVESTMENT CHRONICLE
The live investment diary of a private investor
Education only - not financial advice. Full disclaimer.
JIC Portfolio
+542.8%
+13.5% pa
vs FTSE All-Share TR +246.7% - Jan 2012 - 31 August 2026
JIC Funds' Portfolio
+109.6%
+12.7% pa
vs FTSE All-World £ TR +125.5% July 2020 - 31 August 2026
Members also see The Lundin Group ISA, started Apr '26.
I’m John Rosier, a former City fund manager with 43 years’ investment experience. I have edited this diary since 2012.
I run three live portfolios, showing every trade and the rationale behind it - inside a SIPP and an ISA.
I also write a regular column for Investors’ Chronicle.
The three portfolios
JIC Portfolio (2012)
The flagship portfolio started January 2012
Long-term investing with a fairly concentrated, high-conviction portfolio
JIC Funds' Portfolio
A global funds portfolio started in July 2020.
Thematic and geographic exposure to world markets.
Lundin Group ISA
Focused on Lundin Group Companies.
Started April 2026 inside an ISA
What members get
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The full weekly diary - every trade and rationale
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Real-time portfolio holdings and performance
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Detailed charts and benchmarks
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Access to full transaction abd diary history
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Email alerts for every trade and website update
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Weekend update
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Monthly reviews
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No price increase for existing members
10% of membership income is donated to charity each year. £65,000 has been given so far.
Week ending 5 September: JIC Portfolio -1.2% v FTSE- All-Share -0.1% (Year-to-date +18.6% versus +11.9%...
Members get the full update, holdings and topical charts
Progress
My promise
Total transparency: Portfolios, trades, every holding and performance are shown (for educational purposes only, not financial advice).
A sensible approach aimed at achieving long-term portfolio growth
A calm and consistent approach. Especially important during periods of increased volatility
I eat my “own cooking”: The JIC and JIC Funds’ Portfolios broadly reflect my portfolios
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