News from Israel and Paul Scott Podcasts

I missed most of the Northern VCT (NVT) webinar today as I was watching the BBC TV news at 1.00 pm and they did not send out a reminder. It was mostly bad news from Israel of course although trouble in the Middle East has resulted in a rise in the price of oil which has had a positive impact on my oil/gas company holdings. But the rest of my portfolio has fallen today at the time of writing which has been a consistent story of late.

I cannot understand the tactics of Hamas. The chance of them achieving a military victory over Israel I would view as negligible and politically by killing civilians they just encourage the hardliners in Israel to stick to their views. Retaliation from Israel will follow. Hamas will also destroy any support they have from the rest of the world. It’s certainly not a recipe for peace but for more war. What do they hope to achieve? It’s simply stupidity.

Monday is usually a positive day for stocks but not lately. Paul Scott suggests that one reason for recent falls in equities is fund managers of open-end funds having to sell to meet realisations by investors. Folks are ditching equities and piling into cash and fixed income bonds and he is probably right. This can only be a short-term solution though. I am keeping my powder dry until I see good market opportunities. Companies that generate real profits and cash are what I prefer to hold.

I did listen to the latest Paul Scott podcast this morning (readily available on the internet) and he had the usual wise words about markets and events. He writes for Stockopedia. His favourite phrase now seems to be “I dunno” even though he mostly gets his comments on companies right. Humility is always a good thing when commenting on markets.

There is a Mello webinar this evening starting at 5.00 pm. With its focus on small cap stocks this is a useful event to get the feel of the market and learn about smaller UK listed companies.

Roger Lawson (Twitter https://twitter.com/RogerWLawson  )

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