Reports coming out of China at the weekend made me optimistic that external pressures from the economies that matter – US, China, Japan and the EU will mean that Brexit when and if it happens has a chance of being very benign.
I therefore decided to top up my holdings in Barratt, which I should have done after the Brexit fall but I was too traumatised (I have to say more from the effect on my business rather than the falls in the stocked market). That said I still failed my first to buy when there is blood on the streets or being greedy when others are fearful. Hopefully I will learn from this for the next time around.
BDEV is still a modest 5% of the portfolio.
I also topped up Avesco. This is a sound undervalued company with good metrics and Stockranks. I anticipate continuing to buy this on the way so that it joins BOO, FEVR and BVXP as fourth heavily over weight holding in the portfolio.
AVS is currently 5% of the portfolio
Finally I added to my position in EMR. This is not a massive conviction holding and represents only 2.5% of the portfolio and has a very high Stockrank of 98.
I wrote this on Monday 5th September