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Holly LaFon
Holly LaFon
Articles (10163)  | Author's Website |

Bestinver Comments on Dixons

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June 12, 2019 | About:
Some three years on, the market is once again giving us a chance because of Brexit to take stakes in a number of British cyclical companies including Next, Kingfisher and Dixons (these businesses are challenging and ugly and their price has to be extremely attractive for us to consider investing in them. Dixons (LSE:DC.), for example, at GBP 3 per share, was a risk that could not be offset and so we did not buy shares in it. In January, at GBP 1,30, things have changed; there is some risk but it is well priced). Their share prices have shot up over the year to date (+45%, +18%, +22%, respectively, in euros), although the margin of safety in almost all cases is enough to retain these British cyclical positions, which make up around 4% of the total portfolio.



From Bestinfond (Trades, Portfolio)'s first-quarter 2019 shareholder letter.

About the author:

Holly LaFon
I'm a financial journalist with a Master of Science in journalism from Medill at Northwestern University.

Visit Holly LaFon's Website


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