Monday, 26 February 2007

Great start to the week


I'm having a great start to the week with my shareholdings. At the end of last week I bought into ABF (Assoc. British Foods), owners of Primark. This is a brilliantly run family owned company that seems to have the young of this country enthralled. Every shop is packed all the time and with a spectacular growth plan executed almost flawlessly in the UK, they are poised for greatness. Next stop is Europe and new stores in Spain. Awesome. I think its a really great long term hold in the form that Mr Buffet might like. It also seems to me that this retail part of the business is a strange fit for the overall group. I'm hanging on in the hope of a demerger and some yummy returns from that.

Today they announced a trading update which pleased the market (and me!). Shares leaped by 4% (5% early on) and have put me in profit already. I don't have much in them but ABF seem like a top long term hold company and I'm mega pleased with their performance so far.

And not just them. If you read my BP post last week, you may have noticed that I prophesied a turn around in the share price due to the recent performance of the oil ETF. And low and behold, whaddya know, bang up it goes today. Back to £5.44 at the close.

All good stuff and I may be able to eat more than bread and water next month.