Richard Beddard

Fag end investing

In practice:

Molins and Porvair, wheezing and puffing

Whichever way you look at it, Molins’ (MLIN) price earnings ratio is very low. The shares cost just one times last year’s earnings, or nearly 1.5 times the average of its last ten years of earnings.

Another oppo in electronics

In practice:

Another day, another electronics company

 

Falling profitability at electronics companies is becoming a familiar theme.

Holding on for the cycle to turn

In practice:

Holders Technology in classic Ben Graham territory

Tiny Holders Technology (HDT ) looks like a financially sound company going very cheaply.

It supplies the electronics industry with laminates and materials to make the printed circuit boards used in

Semiconductors and sustenance for value investors

In practice:

Wolfson ‘Interesting’ Microelectronics

‘Interesting’ can be a euphemism for beguiling, and Wolfson Microelectronics  (WLF) is certainly an interesting company.

Profits fell sharply in the year to December 28 2008 as demand for its audi

On filters, feedback and the future

In practice:

Porvair fits the Thrifty 30 template

Finding the balance sheet is much easier when companies take the trouble to bookmark their electronic annual reports.

Porvair (PRV) does, thankfully, and the company fits the Thrifty 30 template.

Black ‘n blue chips

Too good a headline to waste

It’s nicked from the New York Times, and I’m using it in a forthcoming iBall episode, but it’s just too good a headline to waste.

This morning I wrote the script for an iBall show on shares you can buy for under a pound.

This week's hit list

The calm before the storm

New annual reports were rare in February, but next month we should witness a tsunami of reporting as companies file for the year ending December 2008.

Last week I found six companies that could be cheap (their prices are less than the average of up to nine years of earnings per share), financially strong (debt is less than equity), and that had just published reports so we can get an up-to-date view of their businesses.

Here they are:

ITE: Reasons to be cheerful

I see rubles, up ahead

Looking at my recent posts, you’d think I’m obsessed with ITE.

It’s a very interesting stock. Top-down the case looks ropey.

ITE: The other side of the ruble

From Russia with fear

Since yesterday, a report from Moody’s and a video from the BBC have unsettled me even more about Eastern Europe. Ignorance was bliss. A little information is terrifying.  The truth is probably somewhere in between.

The gist of the report is that the credit crunch and collapsing oil price are costing Russian companies.

Fear of the unknown driving ITE’s price down

The sum of all fears

Maybe it’s because I watched the The Sum of all Fears on telly last night, but my febrile emotional state is resisting ITE (ITE).

ITE, which organises trade shows, does a lot of its business in Russia, £66m in 2008 or about 60% of its sales.

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