Share Sleuth

Animalcare joins Share Sleuth

Animalcare is a good company at an attractive price. Two good reasons to add it to the portfolio.

Fenner: challenges on many fronts

Falling turnover and profit at Fenner are a symptom of temporary weakness in coal prices and the global economy, but attempts to reduce carbon emissions may pose a permanent threat.

Animalcare has the answers

Animalcare's annual report is a model for other smaller companies. Not only does it have answers, but the answers are reassuring.

Dealing with uncertainty

Risk and uncertainty are often used synonymously. Taking risks, though, is a lot more rational than rolling the dice.

Red flags in risk reports

When a company includes a new risk in the principal risks and uncertainties section of its annual report, it may be time to reconsider the investment.

ECO: A conversation with the finance director

An email exchange with ECO Animal Health’s financial director fills some of the gaps in the investment case.

Trifast gets A for effort in mid-term report

Judging by its half year results, the manufacturer and distributor of nuts, bolts and rivets, is growing so fast it might blow a gasket.

ECO's antibiotic ambition

ECO Animal Health, which primarily markets an antibiotic for the treatment of pigs and poultry, is following a well known path to profitability: differentiation.

The intangible thing about Eco Animal Health

Eco Animal Health is a conundrum. Much of its value is in intangible drug registrations, giving it the right to market Aivlosin around the world.

Familiarity breeds contentment

The comforting feeling of familiarity leads investors in big name stocks astray. Buying what you know is not as straightforward as it seems.

Investing in Marmite companies

Majestic Wine, Costco and maybe Games Workshop wilfully turn customers away. It's a profitable strategy, so why don't more companies do it?

Majestic whine

Traders have got the hump with Majestic Wine. But the company's pedestrian performance belies underlying strengths.

Short: Family businesses solve agency problem

Adam Smith identified "the agency problem" long ago. The solution may be even older:

Share Sleuth Digest: Probability and competitive advantage

This week: Working out whether high levels of profitability will continue, customers at odds with Games Workshop's strategy, and can you remember the crash of '29?

Trading rules to contain the father of all risks

The future is fraught with risk, which successful investors contain. Fortunately containing the father of all risks is as easy as ABC.

Checklist: Matchtech's people perform

Recruiter Matchtech had a good 2014. Demand for staff increased, and the company focused on its specialist engineering and technology businesses.

Checklist: Haynes may accelerate digital strategy

Motor manual publisher Haynes is giving out mixed signals. Maybe two research projects will put an end to that.

Share Sleuth Digest: Watching James Halstead

This week: James Halstead, conviction investments, and the "thought virus" that's attacking a weakened global economic immune system.

Lessons from an accidental trade

On Tuesday, Share Sleuth doubled up on its holding of Sagentia. It was a mistake. But it should end well.

Checklist: Doubling up on FW Thorpe

FW Thorpe's annual report is an account of a company in good health. The Share Sleuth portfolio has held the shares since 2010, and with the market valuation compelling, it's added some more.

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