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BH Macro Ltd (BHMG.L) Index/Sector: FTSE Mid 250 Market Cap: £1.39bn Price: 421p Allocation: 7.5% of the Funds’ Portfolio and JIC Portfolio Website with more information: HERE Latest factsheet: HERE Revisiting the Strategy Long-term readers of my diary will recall that I previously held a position in BH Macro within the Funds’ Portfolio in 2023. Although I sold that position for a loss on January 10, 2024, the share price has since risen by 16%. That is acceptable as the

Gold Price: From an RSI of 88 to 52 in a day!

Gold price ($ per oz.)

It was an eventful end to the first month of the year. Markets were dominated by significant shifts in the commodity space and a perceived major change in the U.S. monetary policy outlook. Market Overview The defining story of the week was the collapse in precious metals. Gold and silver, which had been on a relentless rally to start 2026, saw their largest one-day declines in decades. This was apparently sparked by the nomination of Kevin Warsh to succeed Jerome Powell as U

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This is an AI-assisted version of the weekend update. Feedback in the comments section would be greatly appreciated. Which do you prefer?

Gold keeps going up! Surely a pause for breath soon?

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Serica Energy (SQZ.L AIM All-Share, Market Cap £776m, 198p, (5.0% of JIC Portfolio)  www.serica-energy.com Trading and operational update. Full release HERE Conclusion: A disappointing 2025 due to production problems at Triton. It's good to see that so far in 2026, it has been producing near capacity. Without further production problems, it has the potential to increase output to 65,000 boepd. Experience would suggest this is unlikely, with ageing infrastructure prone to down

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I have sold Kraneshares China Internet (KWEB) from both Portfolios. In the JIC Portfolio, it is part of my plan to focus purely on individual stocks and leave funds to the Funds' Portfolio. In the Funds' Portfolio, I am focusing my China exposure on Fidelity China Special Situations. I am happy to increase cash in each portfolio. The start to the year has been terrific for those exposed to commodities and precious metals. Are there some canaries in the mine appearing? I think

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Stock of the Week: ASTS up 18.5%

So far, this has been a good investment, with the share price up 20%. The contract outline below is short of numbers, but I think it's probably a pretty big deal. With further satellite launches to come in the next few months, I think the news flow continues to be positive. With the share price at new highs, I expect further share price appreciation.

Polar Capital Holdings (POLR.L, Market Capitalisation: £565m, 590p, 5.0% of JIC Portfolio) www.polarcapital.co.uk   Polar Capital is a specialist, investment-led, active fund manager. It says it has a collegiate and meritocratic culture where the capacity of investment strategies is managed to enhance and protect performance. Since its foundation in 2001, it has grown steadily and currently has 15 autonomous investment teams managing specialist, active and capacity-constraine

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NGEx Minerals (TSX: NGEX, Market Cap C$6.1bn (£3.3 bn) C$ 28.34     (1520p) currently 8.8% of JIC Portfolio). (In the portfolio view in my Investment Diary, I show the share price converted to sterling)   www.lundingroup.com www.ngexminerals.com     First drill results of 2026 from phase 4 - HERE     Conclusion: Another remarkable set of results with the gold results particularly exciting. As Wotjek says, they look forward to providing regular updates on assay results. There

Ashoka India Equity Trust: (AIE.L; FTSE Small Cap, Market capitalisation: £460m, 266p, 0.0% of JIC Portfolio, 0.0% Funds' Portfolio)   www.ashokaindiaequity.com   Ashoka India Equity Investment Trust PLC is an asset management company. The principal activities of the company are to invest in securities listed on stock exchanges in India and listed securities of companies with a presence in India.   There is a risk that I am being impatient with this position, but I have just

Denmark is prepared!

Background: Although US markets struggled to make headway in December, it did not derail what turned out to be a good year for equity markets, gold and industrial metals. A significant theme of 2025 was that those markets that started the year at the lowest price, as measured by PE ratios, gave the best returns over the year - the more expensive markets lagged. For all the talk of the Magnificent Seven, only two (Alphabet +65 per cent and Nvidia + 38.9 per cent) beat the 17.9