The Lemon Fool

I sold my complete holding in Morrisons today. It's been on the cards for a while, but I think it might have been a case of the devil making work for idle hands. This isn't the sort of action expected from a HYPer, but then, it happened so I feel admitting to is the best course of action.

The thinking was (and this has been rumbling on for a few months) that I should cut Morrisons and put the proceeds into something still related, but which takes advantage of the internet revolution. That is, Tritax Big Box whose share price has fallen quite severely lately.

There's not much yield advantage - maybe 1% over the next year - so maybe I should use the capital to topup existing higher yielders - though in this particular account there is really only CSN in the running plus some ITs. Goodness, yet another financial!

Well, that's today's news: I'm thinking I should go away on holiday again and stop fiddling.

Arb.

Arborbridge wrote:
I sold my complete holding in Morrisons today.

https://www.youtube.com/watch?v=FQ5YU_spBw0

:O)

Cheers,

Itsallaguess

Itsallaguess wrote:

Arborbridge wrote:
I sold my complete holding in Morrisons today.

https://www.youtube.com/watch?v=FQ5YU_spBw0

:O)

Cheers,

Itsallaguess

It's me!

Arborbridge wrote:

Itsallaguess wrote:

Arborbridge wrote:
I sold my complete holding in Morrisons today.

https://www.youtube.com/watch?v=FQ5YU_spBw0

:O)

Cheers,

Itsallaguess

It's me!

Weplace Mowwisons. Oh, you are doing...

HYPer's Confessional

Morrisons joins the Dead Souls spreadsheet, the final score:-

First purchase: 21 Apr 2011, XIRR -0.56%,

Full list of Dead Souls - not including takeovers - so far since starting HYP in 2006.



Quite a shock to see how many I've changed my mind on and given up in that period, roughly two a year. I don't think there are many there I regret selling and most I can't regret buying because there is no way to remove hindsight bias. My only regret is in being a less than perfect HYPer

Arb.

Yeah, like I said in another thread, we’re only human. You told me in another don’t look at my HYP lol. I’m guilty of meddling too, I’ve recently dumped Sainsbury’s and Persimmon. I don’t regret that as I think peace of mind is important too. Going forward, I want to be more of a Doris and let my HYP be, save for my monthly top ups.

Ian.

Arborbridge wrote:Full list of Dead Souls - not including takeovers - so far since starting HYP in 2006.


Quite a shock to see how many I've changed my mind on and given up in that period, roughly two a year. ...

Eh? It's 13 years since 2006, and you've listed 15 "Dead Souls". I make that a bit over one per year.

Gengulphus

Gengulphus wrote:Eh? It's 13 years since 2006, and you've listed 15 "Dead Souls". I make that a bit over one per year.

Gengulphus

Just testing I was thinking of 2010 which was the year I considered my HYP "finished" - a rather silly concept as it turns out! Anyhow, that must have been in the back of my mind. Certainly, Jan 2010 was the date by which I had invested the bulk of my pension fund and also when I started unitising, so it's effectively my year zero. Before that, selling holdings wouldn't have been contemplated: my loss of HYP purity came later

Arb.

While I am interested in the company, acknowledge they are FTSE250 with 5 years of increasing dividends, I wonder whether TMFPyad would ever have invested in 'Tritax Big Box'

mrbrightside wrote:While I am interested in the company, acknowledge they are FTSE250 with 5 years of increasing dividends, I wonder whether TMFPyad would ever have invested in 'Tritax Big Box'

You could be right: perhaps he will tell us

I don't imagine that you regret selling any of your Dead Souls; you might even wonder why you bought some of them in the first place.

Dod

mrbrightside wrote:While I am interested in the company, acknowledge they are FTSE250 with 5 years of increasing dividends, I wonder whether TMFPyad would ever have invested in 'Tritax Big Box'

As I remember Pyad preferred the bigger index, as I do myself, but would not explicitly rule out a 250; is it the highest sustainable yield in a new sector? As Arb said we might get a ruling I and most HYPers would be able to decide for themselves if it was a suitable buy for their port.

mrbrightside wrote:While I am interested in the company, acknowledge they are FTSE250 with 5 years of increasing dividends, I wonder whether TMFPyad would ever have invested in 'Tritax Big Box'

You seem to imply, if I read you aright, that there are readily-apparant reasons why he might not? As a HYP pick, it might be regarded (strictly speaking) as OT for this board, being an AIC investment company. But I regard it as a perfectly fine investment, and am happy to hold.

Truth be told, though, the prohibition is on investment trusts (ie, companies which invest in other companies' shares). So there's probably no need to worry. I may consult on this, as I know some of us hold BBOX, BSIF, UKW, etc etc. They are effectivly REITs, which are certainly in scope.

MDW1954

MDW1954 wrote:

mrbrightside wrote:While I am interested in the company, acknowledge they are FTSE250 with 5 years of increasing dividends, I wonder whether TMFPyad would ever have invested in 'Tritax Big Box'

You seem to imply, if I read you aright, that there are readily-apparant reasons why he might not? As a HYP pick, it might be regarded (strictly speaking) as OT for this board, being an AIC investment company. But I regard it as a perfectly fine investment, and am happy to hold.

Truth be told, though, the prohibition is on investment trusts (ie, companies which invest in other companies' shares). So there's probably no need to worry. I may consult on this, as I know some of us hold BBOX, BSIF, UKW, etc etc. They are effectivly REITs, which are certainly in scope.

MDW1954

That's an interesting point - I hadn't realised it was an AIC company. In that case, it is like 3IN which I hold in my IT portfolio. So, it's an odd animal - neither fish nor fowl. However, they say they own assets, i.e. Big Boxes, physical "things" - but do they also own shares in other companies? I looks as though they raise capital and buy physical assets, which to me makes them a HYPable company. An IT would buy share in other companies rather than "thing" or indulge in "trade". I'm not sure why they are in AIC and other similar companies are not (BLND?).

If it is an IT, I'm OK with that since the yield is more consistent with my IT portfolio in anycase, though it does not look like an IT to me, whereas 3IN does.

Ironically, I've just sold my Morrison shares, but BBOX's biggest holding (7%) is storage used by that same company.


Arb.

Surely this is not worth worrying about. It is a REIT as far as I know and seems to be organised in a way similar to Primary Health Properties in that it is a REIT but has appointed a manager to do the work on its behalf. The question is whether it is a good buy? Yield seems good, but why has it not been discussed before on this Board?

Dod

Dod101 wrote:Surely this is not worth worrying about. It is a REIT as far as I know and seems to be organised in a way similar to Primary Health Properties in that it is a REIT but has appointed a manager to do the work on its behalf. The question is whether it is a good buy? Yield seems good, but why has it not been discussed before on this Board?

Dod

It has been, several times. Mostly by MDW. It seems the sort of company which might interest you as a replacement for Mucklow, although it is not family owned. Yield's a bit low for my HYP, but it might add a "core" holding. They are into logistics which plays into the internet buying revolution - that seemed to me a good change from Morrisons and with a slightly higher yield.

OTOH, I have other choices with even higher yield!

Thanks Arb. Might take a look. I have SEGRO in the sector although it is not a HYP share in view of its yield.

Dod

kempiejon wrote:As I remember Pyad preferred the bigger index, as I do myself, but would not explicitly rule out a 250; is it the highest sustainable yield in a new sector? As Arb said we might get a ruling I and most HYPers would be able to decide for themselves if it was a suitable buy for their port.

Agreed. I advocate that HYPs are built first from the FTSE100 and if you can find enough sectors and suitable shares there then fine. But I've found quite often with the numerous HYPs I've constructed over the years that one can exhaust the 100 without having located sufficient sectors having qualifying shares. In that case I'm happy to look in the 250 for a very few further sectors to complete the portfolio.

This is nothing new, 250 shares like IG Group and Greene King etc. have been discussed round here many times I think.

pyad wrote:
This is nothing new, 250 shares like IG Group and Greene King etc. have been discussed round here many times I think.

I've had both for a long time with some success, especially IG Group.

Arborbridge wrote:

MDW1954 wrote:

mrbrightside wrote:While I am interested in the company, acknowledge they are FTSE250 with 5 years of increasing dividends, I wonder whether TMFPyad would ever have invested in 'Tritax Big Box'

You seem to imply, if I read you aright, that there are readily-apparant reasons why he might not? As a HYP pick, it might be regarded (strictly speaking) as OT for this board, being an AIC investment company. But I regard it as a perfectly fine investment, and am happy to hold.

Truth be told, though, the prohibition is on investment trusts (ie, companies which invest in other companies' shares). So there's probably no need to worry. I may consult on this, as I know some of us hold BBOX, BSIF, UKW, etc etc. They are effectivly REITs, which are certainly in scope.

MDW1954

However, they say they own assets, i.e. Big Boxes, physical "things" - but do they also own shares in other companies?

Arb.

No, they don't. Investment companies are not the same as investment trusts. Both can be members of the AIC, as can REITs. BBOX is a REIT, which is an investment company. When REITs were set up in the UK, the authorities borrowed the term REIT from the Americans, but the "IT" in "REIT" is misleading, and in America it does not mean the same as it does here.

MDW1954