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Bloomsbury Publishing (BMY.L, FTSE 250, Mkt cap. £460m, 566p and 3.9% of the JIC Portfolio.   www.bloomsbury.com   Trading update   Conclusion: I don't need AI for this! In the first update from Bloomsbury since October, It has come in with an "in line with expectations" update for the year just ended (28 February) and a forecast of a "materially ahead of expectations" result for the year just started, ending February 2027. The confidence in the coming year's result is down t

AST Spacemobile. (ASTS, Market Capitalisation $26.65bn, $91.7 per share). 2.9% of JIC Portfolio Apologies for enlisting the help of Gemini Pro AI, but I'm pressed for time. ASTS published Q4 numbers yesterday. My conclusion: It's pleasing to see the share price up 5.2% in a heavy down day. It had, though, come back from a recent high of over $120. It seems that the market is focusing more on the revenue opportunity as it launches satellites and its coverage expands. I think t

sebank Industries (ROSE.L, Market Capitalisation: £1337m, 328p, 3.3% of JIC Portfolio)   www.rosebankindustries.com   The founders of Rosebank have a long track record and experience of successfully executing the “Buy, Improve, Sell” strategy. They acquire businesses they see as having potential for further improvement and effect meaningful change through decisive management and investment. The Rosebank directors cemented their reputation in this field at the FTSE 100 company

In the Funds' Portfolio, I have exited China. Fidelity Special Situations has gone. Profit booked of £2368.05 I think China could be a loser fron the current Middle East conflict. It imports much of its oil from Iran, at an attrcative discount. That will presumably now stop. It will also be interesting to see how the Chinese leadership reacts to the current situation. I don't need the risk. In the meantime, I have increased BH Macro to 10.0% of the Portfolio. This is exact

Background If January was the month that "real" assets reasserted their dominance, February was the month that global equity markets finally decoupled from the United States. For the better part of a decade, the narrative has been one of US exceptionalism, with the S&P 500 and the NASDAQ pulling the rest of the world in their wake. February provided a stark reversal of that trend.   While US markets struggled to find their footing, the rest of the world surged ahead. The S&P

If you really want to know what is happening in the Middle East in real time, follow @warmonitor3 on X It was another excellent week to close out February, with both of my portfolios comfortably beating their respective benchmarks and posting strong double-digit gains for the year so far. Commodities and mining were the clear themes driving this week's outperformance, alongside a massive surge from a few individual holdings. JIC Portfolio Weekly Performance: Up +4.0%, outperf

Frontline (FRO, NASDAQ, Market Cap $8.3bn, $37.25, (6.4% of JIC Portfolio)    FRONTLINE PLC is a Cyprus-based company primarily operating in the transportation sector. The Company's focus is on seaborne transportation of crude oil and refined products. The Company owns and operates a fleet comprising multiple VLCC, Suezmax, and LR2/Aframax tankers for the transportation of oil and other cargo. The Company operates worldwide.   https://www.frontlineplc.cy     Q4 2025 results.

Last picture from Mexico

Sunset over the Gulf of Mexico

Only one towel each, please

Uxmal Mayan temple

The mountains above Oaxaca ((3200 m)

Monte Alban, Oaxaca

EssilorLuxottica SA (ELP, CAC 40, Market Cap €115bn, Price €248.75p (£217), currently 2.3% of JIC Portfolio) https://www.essilorluxottica.com/en/ Great Q4 results today. Share price was up 12% in New York. Again, I'm in a rush (on holiday), so I have asked Gemini to look at the results for me, which are below my conclusion: Conclusion: Strong top-line growth, driven by smart glasses (Meta and Nuance). The outlook statement is positive, driven by further growth in the smart gl

Fireweed Metals (TSX: FWZ, Market Cap C$ 772m (£415m) C$ 3.66 (198p), currently 3.1% of JIC Portfolio). (In the portfolio view in my Investment Diary, I show the share price converted to sterling.   www.lundingroup.com www.fireweedmetals.com Yesterday, while I was out sightseeing, Firweed released some good news. HERE My view: It shouldn't be underestimated how important this agreement is. No agreement, no development. It is also a testament to the hard work of the Fireweed t

This will have to be brief, but two positive news releases from NGEX Minerals and International Petroleum. I like to have a stress-free holiday - thank you, Lundin Group companies, for helping. International Petroleum Corporation released Q4 numbers and guidance for 2026. It also projects free cash flow for the next four years and beyond. International Petroleum (TSX: IPCO, Market Cap C$3.4bn (£1. 82bn ). Share price C$30.54 (1645p). 7.0% of JIC Portfolio). (In the portfolio

I'm travelling around Mexico for the next 16 days. I have my laptop, but given the time difference and dodgy internet, I cannot guarantee normal service! Volatility up: It was a volatile week for global markets, characterised by a sharp rotation in sentiment. Volatility spiked, signalling growing caution (often short-lived), among investors. We saw a clear divergence: "old economy" indices like the Dow Jones Industrial Average and the FTSE 100 pushed higher, while technology

BH Macro Ltd (BHMG.L) Index/Sector: FTSE Mid 250 Market Cap: £1.39bn Price: 421p Allocation: 7.5% of the Funds’ Portfolio and JIC Portfolio Website with more information: HERE Latest factsheet: HERE Revisiting the Strategy Long-term readers of my diary will recall that I previously held a position in BH Macro within the Funds’ Portfolio in 2023. Although I sold that position for a loss on January 10, 2024, the share price has since risen by 16%. That is acceptable as the

Gold Price: From an RSI of 88 to 52 in a day!

Gold price ($ per oz.)

It was an eventful end to the first month of the year. Markets were dominated by significant shifts in the commodity space and a perceived major change in the U.S. monetary policy outlook. Market Overview The defining story of the week was the collapse in precious metals. Gold and silver, which had been on a relentless rally to start 2026, saw their largest one-day declines in decades. This was apparently sparked by the nomination of Kevin Warsh to succeed Jerome Powell as U

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