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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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TMI Trader Portfolio

September 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The traditionally quiet month of August and general disquiet over the oil price made for a tough environment in which to make money and the Trader Portfolio was not immune, falling £4,319 (2.6%).   Newsflow from our constituents was fairly thin although there were a fewbright spots, notably Fayrewood which following the latest upgrade,trades on a very cheap looking prospective PE of 7.6.  Once itssector returns to favour the shares look a good bet to hit Arbuthnot'sprice target of 185p.   The same goes for Carphone Warehousewhose first quarter figures were reassuring. Elsewhere,Highbury House's trading statement was disappointing. Highbury couldstill make a full recovery, but the shares are no longer ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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