Bloomsbury Publishing

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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!

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Bloomsbury H1 Results - Good margin progression

Bloomsbury H1 Results - Good margin progression

Bloomsbury H1 Results - Good margin progression

Bloomsbury Publishing (BMY.L, FTSE 250, Mkt cap. £396m, 488p and 4.2% of the JIC Portfolio. www.bloomsbury.com H1 results for the six months ended 31 August. Full results can be found HERE Conclusion: It was up against a difficult comparative given a strong H1 in the consumer division last year - the timing of Sarah J Mass's new romantasy releases is important. Against a difficult background, the results are commendable, with margins impressing at 15%. It expects to del

Oct 23, 20255 min read

JIC Portfolio: Short Review of each of my holdings (III)

JIC Portfolio: Short Review of each of my holdings (III)

JIC Portfolio: Short Review of each of my holdings (III)

Bloomsbury Publishing: 4.4% of the portfolio and a total return of 24.9% so far. The performance of Bloomsbury has been disappointing in...

Aug 14, 20253 min read

Bloomsbury Publishing - AGM Trading Update

Bloomsbury Publishing - AGM Trading Update

Bloomsbury Publishing - AGM Trading Update

Bloomsbury Publishing (BMY.L, FTSE 250, Mkt cap. £396m, 487p and 4.6% of the JIC Portfolio. www.bloomsbury.com AGM Trading update ...

Jul 16, 20251 min read

JIC Portfolio Trades - It's my birthday, so I have treated myself to some shares

JIC Portfolio Trades - It's my birthday, so I have treated myself to some shares

JIC Portfolio Trades - It's my birthday, so I have treated myself to some shares

I have added to three existing positions, taking each of them up to 5.0%. They have all exhibited strong growth in free cash flow, and in...

Jun 25, 20251 min read

Bloomsbury Publishing - Results meet expectations

Bloomsbury Publishing - Results meet expectations

Bloomsbury Publishing - Results meet expectations

Bloomsbury Publishing (BMY.L, FTSE 250, Mkt cap. £530m, 651p and 5.2% of the JIC Portfolio. www.bloomsbury.com Final results for year...

May 22, 20253 min read

Four buy trades in JIC Portfolio - Added to existing positions.

Four buy trades in JIC Portfolio - Added to existing positions.

Four buy trades in JIC Portfolio - Added to existing positions.

I have just added to four of my positions. In most cases they have sufferred big falls in the last week and are now in oversiold...

Apr 7, 20251 min read

Bloomsbury Publishing - Robust year-end trading update

Bloomsbury Publishing - Robust year-end trading update

Bloomsbury Publishing - Robust year-end trading update

Bloomsbury Publishing (BMY.L, FTSE 250, Mkt cap. £472m, 580p and 4.4% of the JIC Portfolio, 5.0 per cent target. www.bloomsbury.com ...

Mar 20, 20252 min read

Bloomsbury - the briefest of brief updates

Bloomsbury - the briefest of brief updates

Bloomsbury - the briefest of brief updates

Bloomsbury Publishing (BMY.L, FTSE Small Cap, Mkt cap. £555m, 682p and 4.8% of the JIC Portfolio, Medium Risk/High Reward =5.0 per cent...

Jan 24, 20251 min read

Bloomsbury Publishing - Outstanding H1 results

Bloomsbury Publishing - Outstanding H1 results

Bloomsbury Publishing - Outstanding H1 results

Bloomsbury Publishing (BMY.L, FTSE Small Cap, Mkt cap. £555m, 682p and 4.8% of the JIC Portfolio, Medium Risk/High Reward =5.0 per cent...

Oct 24, 20243 min read

Current thoughts on my positions: Part I (stocks 1 - 6)

Current thoughts on my positions: Part I (stocks 1 - 6)

Current thoughts on my positions: Part I (stocks 1 - 6)

Paypoint 666p, 6.1% of the JIC Portfolio : My last update was on the 1 August update . The share price is down 4.0% since then, including...

Sep 9, 20247 min read

JIC Portfolio Trades: Trimmed a position and added to another

JIC Portfolio Trades: Trimmed a position and added to another

JIC Portfolio Trades: Trimmed a position and added to another

#jicportfoliotrade

Aug 21, 20241 min read

Bloomsbury Publishing - Trading update

Bloomsbury Publishing - Trading update

Bloomsbury Publishing - Trading update

Bloomsbury Publishing (BMY.L, FTSE Small Cap, Mkt cap. £578m, 714p and 6.4% of the JIC Portfolio, Medium Risk/High Reward =5.0 per cent...

Jul 16, 20243 min read

Bloomsbury Publishing - "Rising- Review-Price" Review

Bloomsbury Publishing - "Rising- Review-Price" Review

Bloomsbury Publishing - "Rising- Review-Price" Review

Bloomsbury Publishing (BMY.L, FTSE Small Cap, Mkt cap. £578m, 704p and 6.3% of the JIC Portfolio, Medium Risk/High Reward =5.0 per cent...

Jul 15, 20242 min read

Bloomsbury Publishing - Sensible acqusition of North American academic publishing business

Bloomsbury Publishing - Sensible acqusition of North American academic publishing business

Bloomsbury Publishing - Sensible acqusition of North American academic publishing business

Bloomsbury Publishing (BMY.L, FTSE Small Cap, Mkt cap. £453m, 558p and 5.0% of the JIC Portfolio, Medium Risk/High Reward =5.0 per cent...

May 29, 20247 min read

Bloomsbury Publishing - Tremendous results, including a 25% dividend increase.

Bloomsbury Publishing - Tremendous results, including a 25% dividend increase.

Bloomsbury Publishing - Tremendous results, including a 25% dividend increase.

Bloomsbury Publishing (BMY.L, FTSE Small Cap, Mkt cap. £487m, 600p and 5.5% of the JIC Portfolio, Medium Risk/High Reward =5.0 per cent...

May 23, 20244 min read

Bloomsbury - Rising Price Review

Bloomsbury - Rising Price Review

Bloomsbury - Rising Price Review

Bloomsbury Publishing (BMY.L, FTSE Small Cap, Mkt cap. £540m, 550p and 5.6% of the JIC Portfolio, Medium Risk/High Reward =5.0 per cent...

Feb 19, 20242 min read

Bloomsbury - Excellent year-end trading update

Bloomsbury - Excellent year-end trading update

Bloomsbury - Excellent year-end trading update

Bloomsbury Publishing (BMY.L, FTSE Small Cap, Mkt cap. £401m, 491p and 5.2% of the JIC Portfolio, Medium Risk/High Reward =5.0 per cent...

Feb 14, 20243 min read

JIC Portfolio Trades - Four positions were reduced to provide cash for three new positions

JIC Portfolio Trades - Four positions were reduced to provide cash for three new positions

JIC Portfolio Trades - Four positions were reduced to provide cash for three new positions

#jicportfoliotrade

Feb 2, 20241 min read

Bloomsbury Publishing - Unscheduled and welcome trading update

Bloomsbury Publishing - Unscheduled and welcome trading update

Bloomsbury Publishing - Unscheduled and welcome trading update

Bloomsbury Publishing (BMY.L, FTSE Small Cap, Mkt cap. £344m, 422p and 5.7% of the JIC Portfolio, Medium Risk/High Reward =5.0 per cent...

Dec 7, 20233 min read

Bloomsbury Publishing - H1 Results - Solid

Bloomsbury Publishing - H1 Results - Solid

Bloomsbury Publishing - H1 Results - Solid

Bloomsbury Publishing (BMY.L, FTSE Small Cap, Mkt cap. £330m, 404p and 5.6% of the JIC Portfolio, Medium Risk/High Reward =5.0 per cent...

Oct 26, 20234 min read

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