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Important - The contents of this blog are the personal opinions of the individual contributors and should not, under any circumstances, be construed as direct investment advice. Every effort is made to ensure the accuracy of all third party links and data but Spreadbet Magazine Ltd cannot guarantee their accuracy and nor should the material be relied upon in making any investment decisions by its readers. Spreadbet Magazine Ltd accepts no liability for any losses incurred by readers in making decisions as a consequence of the material posted on this blog.

Shooting from the hip - topical, informed and opinionated posts each & every day!

Friday
Oct312014

HOW DID YOUR FUND MANAGER PERFORM FOR YOU LAST YEAR? CLICK THE IMAGE BELOW FOR DETAILS ON TITAN'S UNIQUE TAX FREE FUNDS

 
Past performance is not necessarily a guide to the future, returns are before the application of Titan’s fees, tax legislation can change and you should always take independent advice in relation to your own financial circumstances.
Thursday
Aug282014

When is spread betting not spread betting?

What if there was a way a completely legal way to invest as much as you wanted in the stock market and totally tax free*? You will note that we purposely use the word “invest” here too and specifically not “speculate”.

What if also you were able to access professional ex institutional fund managers with experience in managing hundreds of millions of pounds and with many years of plying their trade in the markets under their belts. How about the same entity offering (via their partners) the opportunity of borrowing rates of a little over 2% (based on current interest rates) to enhance the returns profile? Try walking into your bank and saying that you would like to invest in a fund and that you’re looking to borrow at these type of rates and let us know how long it takes for the bank manager to show you the door!!

Finally, if we were to tell you that the fund managers of such an offering are almost predominantly paid on results, have a decent amount of their own capital invested in these funds, and that the offering was fully FCA regulated and comes with the safeguards of the FSCS, would it not make the traditional avenue of largely underperforming unit trusts seem a little dull in comparison? The icing on the cake is that during this fund manager’s first full year of operations they had beaten their peers and benchmarks by a very wide margin.

There is in fact such an offering that has now become available to the UK investing public and that is creating quite a stir in fund management circles…

Titan Investment Partners very simply uses the mechanism of a spread betting account to transact trades on behalf of their clients. It is very important to stress however that the way our client accounts are managed is very far removed from a typical spread bettor’s approach though. That is the leverage used here at Titan is dialled back dramatically; there are usually both long and short positions (in certain funds) in place; a good degree of diversification, risk modelling and thorough research. This is not meant to denigrate the typical spread bettor, but anecdotal evidence reveals that the very, very vast majority do not make money. Just take a look at the published accounts of IG Index!

Below is a table of returns generated during the first year of operation by Titan Investment Partners within their Global Macro fund and also their respective peers and benchmark returns over the same period.

Returns are gross before the application of Titan’s fees

Real time viewing of accounts & client testimonials

Perhaps also equally interesting to Titan’s clients is the ability to view their account and all the individual positions in real time. In effect, clients can see Titan’s fund managers at work in the markets as it happens and perhaps even learn about trading along the way without having to pay thousands of pounds to a so called “guru” who will purport to explain to you how you can trade your way to millionaire status in a few months from a 2 day seminar… Purlease!

We would argue that we have, here at Titan, one of the most transparent fund management offerings in the marketplace today.

One Titan client makes the following comment in relation to his experience of our fund management offering – “within about 24 hours of a trade being made (long or short) you have the full details of what was bought, when and how much was paid (how many other funds give you that transparency?)” another makes the following comment – “If you’re really keen, you can login to your fund accounts and watch their value go up and down second by second. I’ve been studying spread betting as a trading vehicle and Titan has helped me understand far better the importance of only making sensible use of the leverage available and not to over extend my other trading.”

Other comments made by Titan’s current clients include – “Daily changes in values can be significant relative to the individual size of the Funds due to leverage, but it works both ways (normally) and so a long term view of investing is a must. There’s a ‘true’ Hedge-fund feel about the way the funds are run. I particularly like the use of short-term options as a means of generating a return but which are naturally limited in the size of the risk.”

TO CONTINE READING CLICK HERE AND GO TO PAGE (6)

Wednesday
Aug272014

Blinkx, closed & restricted periodS and the curious absence of directors buying...

I last wrote about Blinkx several weeks ago and set out the valuation basis for the stock at around the current price, essentially being underpinned by the pro forma net cash forecasts for 2014 of circa 20p per share. The EV:EBITDA measure for 2015, on consensus broker forecasts, is around 4 times for 2015 and under 3 times 2016 (see Numis forecasts below). As this measure incorporates debt and cash (on the EV side), for ungeared business like Blinkx, it is a good proxy for an earnings yield.

Considering that back in July, and before that March and February of this year, there was some modest Director’s purchasing of stock, in particular by CEO Mr Mukherjee, and at prices north of £1, it rather intrigues me that there has been no stock purchases in recent weeks as the stock revisited the lows of late 20’s/30p last seen in early July…

I am prepared to be corrected, but given that the final results were in early May, and a trading update was given in early July I do not believe that the Board is presently in a standard closed period (a standard “closed period” being 2 months before publication of the annual results). Interims in fact being due early November.

Looking at the chart above, it does rather beg the question of is there some corporate news due that is thus restricting the purchase of stock by the Board? After all, if you were a buyer at 100p, assuming one still has the pocket depth, you must surely be a buyer at 35p… unless of course you are in a “restricted” period, which is essentially a period where one is in possession of material, non-public info. IF the company has been “approached” we would highly doubt that a price south of 60p would be entertained by the BoD and major shareholders.

CLEAR DISCLOSURE - RICHARD JENNINGS AND TITAN FUNDS ARE LONG OF BLINKX. This piece should not be taken as an advocation to buy (or sell) these instruments and you should always take independent financial advice in relation to your own personal circumstances.

Wednesday
Aug272014

Zak Mir covers the FTSE, International Consolidated Airlines, ASOS, Afriag, Leni Gas & Oil and Megitt on Tip TV

Zak Mir, Editor of Spreadbet Magazine, covers the FTSE, International Consolidated Airlines, ASOS, Afriag, Leni Gas & Oil and Megitt on Tip TV

TO WATCH THE VIDEO CLICK THE IMAGE BELOW

 

Wednesday
Aug272014

Zak Mir Video Blog On Bulletin Board Heroes: Circle Oil, Mariana Resources, Rose Petroleum and Roxi Petroleum

CLICK THE IMAGE BELOW TO VIEW TODAY’S VIDEO

Spreadbet Magazine editor Zak Mir takes a look at the technical position of some of the bulletin board stocks of the moment amongst private investors.

Here are the key points from today’s video:

Circle Oil (COP)

The overall broadening triangle from March 2013 suggests an eventual target towards 30p over the next few weeks.

The bull argument is added to by the latest support above the 200 day moving average at 21.32p in the wake of a massive unfilled gap to the upside.

Only an end of day close back below the 200 day moving averages suggests any extended delay to the upside scenario.

Mariana Resources (MARL)

Shares of Mariana Resources finally respond in a positive fashion to the recent ultra oversold RSI oscillator position.

Last week ended with a rebound off the floor of a December price channel towards 1.8p.

The implied technical target over the next month is towards the December price channel top / 200 day moving average at 3.76p plus.

Rose Petroleum (ROSE)

A rising May trend channel dominates the daily chart and hints of an eventual 1-2 month target as high as 5p.

The best case scenario is that we have no end of day close back below the 50 day moving average at 2.98p ahead of a new rally.

Only back below the initial August peak of 3.5p would even begin to delay the upside scenario and is the suggested stop loss for short term traders.

Roxi Petroleum (RXP)

The best case scenario is that we have no end of day close back below the 10 day moving average at 17p ahead of a new rally through the 20p triple resistance zone.

The latest RSI rebound off a rising July trend line in the oscillator window backs the ongoing bull argument.

The target is currently seen as being the top of a June rising trend channel at 25p over the next 2-3 weeks or less.

CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR H2 2014

Wednesday
Aug272014

The Morning news update with BG Group, Foxtons, Plexus and Fyffes

FTSE 100

BG Group (BG.) - results from a recently completed second drill-stem test (DST) on the Mzia discovery in Block 1, offshore southern Tanzania, provides further support for a hub development to supply a potential onshore LNG project.

FTSE 250

Foxtons (FOXT) - Profit before tax up 57.1% to £23.1 million in the six months to June, interim dividend and a special interim dividend to be paid  of 1.77p and 2.77p respectively.

888 Holdings (888) - Profit Before Tax decreased by 4% to $34 million in the six months to June, dividend up by 0.5 cents to 3.5 cents per share.

Evraz (EVR) - posts a net profit of $1 million for the six months to June from a loss of $146 million.

Small caps

Plexus (POS) - has received a purchase order from Det Norske Oljeselskap ASA (‘Det Norske’) to supply surface wellhead and mudline equipment services for an oil and gas appraisal well offshore Norway.  The value of the order is estimated at approximately £1 million with revenues expected to commence December 2014.

Fyffes (FFY) - adjusted pre-tax profits up by 40% at €31 million in the six months to June, interim dividend up by 5% at 0.714 cents per share.

London Capital Group (LCG) - posts a loss before tax from continuing operations of £0.4 million for the six months to June.

Tyratech (TYR) - has secured product listings for its Vamousse head lice product range, including its Vamousse Treatment mousse and Vamousse Protection shampoo, in Sainsbury’s and Tesco stores in the UK.

Publishing Technology (PTO) - its joint venture in China, has signed an agreement with the Zhonghua Book Company, one of the most prestigious trade and academic publishing houses in China, at the Beijing Book Fair.  No financial information has been disclosed.

Industrial Multi Property Trust (IMPT) - adjusted net asset value down by 1p to 223p per share over the six months to June.