PIWORLD Investor Podcasts

This video can be seen at: https://www.piworld.co.uk/2020/03/20/the-investing-principles-of-andrew-hollingworth-part-one/   A fantastic interview with Andrew Hollingworth, Founder and Fund Manager of HollAnd Advisors, an investment management & investment research company. We cover Andrew’s investing principles, with much drawn from Warren Buffett and John Templeton. He has a strong focus on ‘value’ and ‘franchise’ orientated analysis, and lasers in on ROTA. Note, this was recorded during February 2020, before the COVID-19 market meltdown. The world has changed since then, undoubtedly Andrew will be finding bargains more easily now! Further, the economic landscape for some of those companies mentioned, has changed radically. Andrew’s background – 00:56 What do HollAnd Advisors do? – 01:50 What makes the fund different? – 04:27 What returns are you achieving? – 05:33 What time frame are you buying for? – 06:41 What’s your criteria for stock selection? – 07:32 What do you mean by a franchise? – 08:14 How do you value a company? – 11:25 How easy is it to find franchises at a value you’re happy to pay? – 15:03 Charles Schwab (NYSE.SCHW) – 16:11 JD Weatherspoon (LON.JDW) – 18:08 Disney (NYSE.DIS) – 18:23 Liquidity – 20:50 Dart (LON.DTG) – 22:54 Apple (NASDAQ:AAPL) – 24:16 How do companies come on your radar? – 25:30 Are you very US focussed? – 26:44 Has the change in the UK political leadership made the UK more interesting? – 28:26 How have special situations or deep value worked? – 30:22 Which companies or sectors do you perceive as good value? – 31:30 About Andrew Hollingworth: Andrew started working in the investment industry when he was just 18 years old, having bought his first share when he was just 14. Andrew founded Holland Advisors around 15 years ago. At the time, Andrew realised that there was a proven way to be a more successful investor. The core driver behind the investment process at Holland is the use of investment approaches proved successful by the likes of Buffett and John Templeton. These clear processes helps them take a long-term approach in assessing companies, their managements and their prospects when trying to find the high-quality franchises that they think will compound at a good rate over time. Then, they will only buy shares in them if they are at an attractive price. Andrew says, “We think our USP is the disciplined application of proven value-investing approaches in an often efficient, but occasionally mispriced market. Our approach differs from many others in two important ways. First, we strongly believe you have to know what you are looking for in an investment before you go shopping. Our study of great investors has helped us refine our process. As a result we are very clear about the company business models we find attractive and why, and we only buy something when it comes with a margin of safety. The second point is our desire to learn. It is human nature to want to get better at something, but it is easy in this industry to be too busy to have the time to do so. There are always opportunities to learn and we welcome them.” The HollAnd Advisors website has a vast wealth of educational resources and is well worth checking out. Look for the pdfs: “How we invest and Think”. And the latest article: “The Perfect Storm – Peak Fear – What to buy and when.” To find out more about Andrew and his fund: hollandadvisors.co.uk Companies mentioned: JD Weatherspoon (LON.JDW) (18:09), Aston Martin (LON:AML), Charles Schwab (NYSE.SCHW) (16:15), Ryan Air (LON:RYA) (18:09 & 19:52), Disney (NYSE.DIS) (18:23), Dart (LOND:DTG) & Eagle Eye (LON:EYE) (22:54), Apple (NASDAQ:AAPL) 24:16  

This video can be seen at:  http://www.piworld.co.uk/2020/03/17/empresaria-group…results-overview/     Rhona Driggs, CEO and Tim Anderson, CFO talk through the results. Rhona Driggs, CEO Overview of 2019 – 00:27 Tim Anderson, CFO Financial overview - 01:25 Rhona Driggs, CEO Stronger Together initiative - 02:30 Strategic objectives - 04:30 Outlook - 05:42 Empresaria Group plc is a United Kingdom-based international specialist staffing company. The Company's principal activity is the provision of staffing and recruitment services. The Company is organized across three regions: UK, Continental Europe and Rest of the World and operates across seven key sectors. The Company targets a balanced and diversified spread of operations across its regions and sectors. The Company also targets professional and specialist job levels where its brands can offer value added services to clients. The Company has three main service lines, temporary recruitment, permanent recruitment and offshore recruitment services. The Company’s offshore recruitment services represents a range of different recruitment services and provides training services in South East Asia. The Company's brands include Alternattiva, Ball and Hoolahan, Become, FastTrack and Greycoat. It has operations in 21 countries.  

This video can be seen at: https://www.piworld.co.uk/2020/03/17/litigation-capital-management-lcm-h1-2020-results-march-2020/   Patrick Moloney, CEO and Nick Rowles-Davies, Exec Vice Chairman, give an overview of the business, what's been achieved in H1 and their outlook. Patrick Moloney, CEO Introduction - 00:22 Nick Rowles-Davies, Exec Vice Chairman Corporate portfolios - 01:15 Strategic alliances - 02:26 Patrick Moloney, CEO LCM Global Alternative Returns Fund - 04:20 Revenue line - 07:25 Outlook – 09:09 Litigation Capital Management Limited is engaged in the business of providing litigation financing and ancillary services to enable the recovery of funds from legal claims. The Company focuses on financing and management of Litigation Projects. The Company has provided litigation financing to over 40 Completed Litigation Projects, which consisted of approximately 190 cases. The Company sources the majority of its Litigation Projects through referral networks within the Australian legal, accounting and insolvency sectors. Insolvency practitioners represent a source of work as do solicitors within Australian firms who refer insolvency and commercial claims to it. It also receives direct applications. When considering whether to finance a Litigation Project, the Company undertakes analysis of the quantum of the Gross Claim Size and potential Recovery as compared to the likely costs and financing commitment required. The Company's subsidiary is LCM Litigation Fund Pty Ltd.  

This video can be seen at:  http://www.piworld.co.uk/2020/03/16/kape-technologie…lts-presentation/   CEO Ido Erlichman and CFO Moran Laufer present the Group’s 2019 full year results. Ido Erlichman, Group CEO Introduction – 00:17 Investments highlights – 00:37 Becoming a leader in digital privacy – 01:59 Operational highlights – 02:36 Moran Laufer, Group CEO Financial highlights – 04:07 Ido Erlichman, Group CEO Public concerns for online privacy – 05:12 Business segments – 05:51 Moran Laufer, Group CEO Financial summary – 06:41 Revenue Analysis – 07:30 Cash flow – 07:59 Ido Erlichman, Group CEO De-risked revenue model – 08:46 KPI’s – 19:58 Strategic priorities – 11:09 R&D – 12:32 Integration of acquisitions – 13:15 PIA integration – 15:17 Summary & outlook – 15:57 Kape Technologies PLC, formerly Crossrider plc, is a United Kingdom-based online distribution and digital product company. The Company operates through three segments: App Distribution, Media, and Web Apps and License. Through the App Distribution segment, the Company offers Reimage, a computer repair software; DriverAgent, a driver repair software; CyberGhost, a virtual private network solution, and associated services. The Company’s Media division provides media and advertising technology services that include media buying, ad agency services, and ad serving technologies. It offers Ajillion, a mobile ad server and exchange; Definiti Media, an advertisement network, and crossmob, a mobile marketing application. Through the Web Apps and License division, the Company licenses web apps monetization platform and associated technologies.

This video can be seen at: https://www.piworld.co.uk/2020/03/16/open-orphan-orph-presentation-at-sharesoc-march-2020/   By Cathal Friel, Exec Chair Friel gives an overview of Open Orphan, how it was formed, the business, hVIVO and its work with virus testing, plus comments on COVID-19. Introduction – 00:18 Open Orphan management – 03:00 History and acquisitions – 04:15 High value & longer-term contracts – 08:32 Open Orphan – 09:22 Genomic database – 10:13 hVIVO viral challenge studies, etc – 10:33 Cross-selling – 17:45 Pipeline – 18:42 Cost reduction programme – 19:42 Development assets – 20:01 COVID-19 – 21:12 Q&A – 29:15 Open Orphan plc, formerly Venn Life Sciences Holdings plc, is engaged in the pharma services business. The Company is also engaged in building an orphan drug consulting services platform that helps pharma companies commercialize their products in Europe. The Company consists of four elements: a European clinical research organization and consultancy; an orphan drug services business; a Virtual Rep and Data Access Platform consisting of physicians, and a Health Data Platform. The Company provides fragmented orphan drug services. The Company acquires and consolidates series of orphan drug services companies. It also provides digital data platforms to support companies in research & development and commercialization.

This video can be seen at: https://www.piworld.co.uk/2020/03/10/ultra-ule-fy2019-results-presentation-10th-march-2020/   Presentation given to analysts on Tuesday 10th March, 2020. By Simon Pryce, CEO and Jos Sclater, Group CFO Simon Pryce, CEO Introduction – 00:18 Overview of 2019 – 01:57 Strategy update – 05:05 The Focus; Fix; Grow transformation – 07:59 Transformation – 11:25 Areas of increased focus for 2020 – 14:56 New contracts won in H2 – 21:55 Solid future pipeline – 24:18 Jos Sclater, Group CFO Financial review – 26:04 Simon Pryce, CEO Summary – 42:49 Q&A – 45:03 Ultra Electronics Holdings plc provides solutions and products in the defense and aerospace, security and cyber, transport and energy markets, by applying electronic and software technologies. The Company operates in three segments: Aerospace & Infrastructure, Communications & Security, and Maritime & Land. Its market facing segments are Aerospace, Infrastructure, Nuclear, Communications, C2ISR, Maritime, Land and Underwater Warfare. The Aerospace & Infrastructure division produces high-integrity, safety critical electronic control systems for aircraft applications, including position sensing and control; airframe and engine ice protection and detection; electronic architectures; weapon control, and noise cancellation systems. The Communications & Security division provides mission critical, information dominance solutions. The Maritime & Land division provides sensors, combat management systems, power solutions for surface, sub-surface and unmanned platforms.

This video can be seen at: https://www.piworld.co.uk/2020/03/09/bango-bgo-presentation-at-the-progressive-equity-research-piworld-investor-event-january-2020/   Ray Anderson, CEO gives an overview of the Bango (BGO) business model. Introduction by Gareth Evans, Progressive Equity Research – 00:17 Ray Anderson Introduction - 00:48 Bango’s market focus - 01:33 In-app payments - 03:13 Partners - 04:58 The Bango virtuous circle - 05:57 Business model & revenue generation - 07:37 Revenue and gross profit - 09:40 Bango’s strategy is delivering - 12:14 Platform capacity – cost stable -13:50 H1 summary - 14:58 Outlook - 15:13 Growing data driven revenues - 16:58 Summary – 20:25 Q&A - 20:53 Bango PLC (Bango) offers the Bango mobile payment platform. The Company's principal activity is the development, marketing and sale of technology to enable mobile phone users to make payments for digital content and media on smartphones and tablets. The Company's segments include End user activity and Platform fees. The End user activity segment includes the content access fees paid by end users for accessing chargeable content provided by digital merchants, adjusted to take account of whether Bango is agent or principal in the transactions. The Platform fees segment includes the amounts paid to Bango by digital merchants and others for package fees and other services, including analytics and operator connections. Bango Grid is a resource for Bango application store partners to plan their payments strategy. Bango Grid enables partners to find the statistics of every mobile operator globally, and a range of other payment methods.

This video can be seen at: https://www.piworld.co.uk/2020/03/06/michael-taylor-trading-in-your-20s/   Michael Taylor AKA Shifting Shares is another of our young investors. Michael started trading in his 20’s, within a short amount of time found he could make more money from it, than from his day job. Today, still in his 20’s, he continues to trade. In addition, he writes on the subject for the Investors Chronicle, ShareScope and other publications, additionally he has produced his own books. Here we hear a little about Michael’s journey, his trading and his views on the markets. How did you get involved in investing – 00:55 How did you teach yourself – 02:13 How long to go full time? – 04:55 What is your strategy – 08:50 How long will you hold a share? - 10:48 What’s your view on market makers? - 13:30 How many trades will you do in a week? - 14:20 What’s the day in a life of a trader - 15:30 How big a part is psychology in trading? - 17:05 What is your winning formula? - 18:40 How do you time the market? – 23:43 Should every investor have a trading part to their portfolio? – 25:00 Isn’t liquidity an issue? - 25:45 What factors play against the retail investor? - 26:50 What more can we do to encourage more young people to invest? - 30:53 More about Michael – 33:28   Find out more about Michael here: https://www.shiftingshares.com On Twitter @shiftingshares  

This video can be seen at: https://www.piworld.co.uk/2020/02/28/the-china-dolls-investment-club/   A charming introduction to The China Dolls investment club who have achieved at 105% return over the last 10 years. We join three members of the group, Pam, Virginia and Mary, prior to their monthly evening meeting. We learn how they set up and run their club, where they find their investments, what they like, how they manage the investments, and the fun they have with it all. Thoroughly engaging watching. The China Dolls investment returns – 00:26 Background of China Dolls – 00:58 Do you manage your own money independently, as well? – 03:05 What are your criteria for stock selection? - 05:13 How well do you understand financial accounts? - 10:24 How do you react to a profit warning? - 12:15 Fevertree (FEVR) – 13:20 Genus (GNS) - 16:30 Difficult times in the markets - 18:42 How do the group react if another member picks a dog? - 19:52 Hurricane Energy (HUR) and oil shares - 21:53 Cash - 22:57 Tonight’s tips – 23:04 How much time do you spend on this? - 29:20 Why do you think there are less women investors? – 31:09 Does the background of the group help with your investing? – 32:25 What tips do you have for others setting up an investing club? - 33:20 How much do you need to start an investing club? - 35:35 What’s the best thing about your investing club – 38:12 One piece of advice for anyone setting up an investing club? – 38:41   China Dolls investment club formed in 2000 with an initial investment of £100, with monthly contributions of £30. This was increased to £40 in 2012. Below are returns, from May 2000 today, assuming no withdrawals nor purchases of any more units, (if a member withdraws units these are available for others to purchase). 2010 +10.52% 2011 54.99% 2012 36.97% 2013 44.57% 2014 62.45% 2015 66.24% 2016 46.56% (Losses: Advanced Oncotherapy, Applied Graphene & Weir Gp) 2017 83.44% (a £5k profit realised on ARM holdings & Fever Tree up to £13ps) 2018 121.38% (Fever Tree over £21; IQE up over 200%) 2019 108.66% (IQE gain now only 18%, another share we should have sold!)

This video can be seen at: https://www.piworld.co.uk/2020/02/27/diaceutics-dxrx-presentation-at-sharesoc-london-february-2020/   Presented by Peter Keeling, CEO Introduction – 00:20 What is Precision Medicine? - 02:05 Patient pathway - 04:20 What Diaceutics do - 07:57 The market - 11:05 Key metrics - 13:50 Diagnostic commercialisation platform - 17:16 Revenue analysis - 19:01 Diaceutics PLC is a United Kingdom-based data analytics and implementation services company which services the global pharmaceutical industry. The Company offers end to end services that encompasses from understanding the diagnostic landscape to test implementation into treatment pathways to enable better treatment decisions for patients. The Company’s data analytics and implementation services, including Landscape, Tracking, and Primary Market Research, leverages the diagnostic testing information to provide data-driven insights to drive seamless integration of diagnostic tests into treatment pathways. Its implementation services include Planning, Commercialization and Reimbursement Landscapes, to build the strategies and implement the tactics that drives optimal test utilization, ensuring that patients are getting the right treatment.