QAV Light Weekly Update #113

Hap­py Mon­day!

I’ve been think­ing about what you
have done to me
The dam­age is much deep­er than
you’ll ever see
Hit me like a ham­mer to my head
I won­der were you pushed or
were you led?
Why did you do it? Why did you
do that thing to me?

I dis­tinct­ly remem­ber where and when I first heard “Why Did You Do It?” by Stretch from their 1975 “Elas­tique” album. It was on the rooftop bar of the hotel I was stay­ing at in Flo­rence in 2018. TK was there, as was his daugh­er Alex, plus my wife and Fox, my mum, my his­to­ry pod­cast co-host Ray Har­ris, and some of our pod­cast lis­ten­ers. We were tour­ing Europe togeth­er. The track real­ly jumped out of me and I used Shaz­am to find out what it was. I still think it has a ter­rif­ic groove. There’s also a crazy sto­ry behind it! Accord­ing to Wikipedia: The band was put togeth­er in 1974 with help from Fleet­wood Mac man­ag­er Clif­ford Davis and drum­mer Mick Fleet­wood, to per­form as Fleet­wood Mac on a U.S. tour because the exist­ing Fleet­wood Mac were not in a posi­tion to ful­fil out­stand­ing con­trac­tu­al oblig­a­tions. How­ev­er, Fleet­wood did not join the tour as planned, and lat­er denied any knowl­edge or involve­ment, and part­way through the tour it became obvi­ous to audi­ences that there was no orig­i­nal mem­ber of Fleet­wood Mac in the band, and the tour col­lapsed. Stretch rose from the ash­es of this deba­cle, and soon had a No. 16 hit sin­gle in Novem­ber 1975 with “Why Did You Do It?”, the lyric of which was a direct attack on Mick Fleet­wood for his fail­ure to join the band on the ill-fat­ed U.S. tour.

Any­way, it has noth­ing to do with invest­ing, oth­er than the fact I was hang­ing out with TK and AK in Flo­rence when I first heard it! Sad­ly I don’t seem to have a pho­to of TK and I on that rooftop, but I do have a pho­to with my mum, drink­ing limon­cel­lo. She cel­e­brat­ed her 71st birth­day on that tour (lat­er in Athens at anoth­er rooftop restau­rant, that one with a view of the Parthenon). I still plan to have a QAV Club con­fer­ence in Flo­rence one of these days…

The AORD retreat­ed a bit last week, but it’s still over 8000 and is pre­dict­ed to have a pos­i­tive day today.

PORTFOLIO UPDATES

As a group, our four Light port­fo­lios dropped one per­cent last week but that was bet­ter than the bench­mark, which dropped about 1.6%. 

SELLS

BUYS

CURRENT HOLDINGS

** Please remem­ber to review our Buy­ing Guide­lines to under­stand which cap bands you should be look­ing at and oth­er impor­tant con­sid­er­a­tions. 

DISCLOSURE 

In the inter­est of full dis­clo­sure, we would like to advise that, as of the date of this email, the QAV team cur­rent­ly hold these stocks in their per­son­al port­fo­lios:

ADH ALD ANZ BOQ DTL FHE FPR GNC MMS QBE RMS SSM SUL WAM WGX GEM OML

Please note that our per­son­al hold­ings might not include the stocks we rec­om­mend in QAV Light. This is because we already have full port­fo­lios (15–20 stocks) and can only add new stocks if we have to sell some­thing. 
If you’re inter­est­ed in learn­ing more, please review our trad­ing and dis­clo­sure pol­i­cy.

FOR NEW MEMBERS

If you’re new to QAV Light, here’s a quick reminder on how it works. 

1. We send you an email every Mon­day advis­ing which stocks we are adding to our Light port­fo­lio.
2. You can copy our trades, but please remem­ber to review our Trad­ing Guide­lines to under­stand which cap you should be look­ing at and oth­er impor­tant con­sid­er­a­tions. And con­sult a finan­cial plan­ner before mak­ing any deci­sions.
3. We don’t rec­om­mend that you add stocks which are already in our port­fo­lio. Their posi­tion on our buy list might have changed since we rec­om­mend­ed them. Just start with the stocks rec­om­mend­ed after you become a mem­ber.
4. If one of the stocks we add breach­es one of our sell con­di­tions, we will sell it from our port­fo­lio and you’ll get an email advis­ing of the trade. Again, you can copy our trades, but seek finan­cial advice before mak­ing any deci­sions. And please check your Rule #1 price (see Trad­ing Guide­lines).
5. If you come across any QAV ter­mi­nol­o­gy that you don’t under­stand (eg Rule 1, 3PTL, Pos­si­bles, etc), please review our ter­mi­nol­o­gy guide or just email us for clar­i­fi­ca­tion.

That’s it for today! 

If we decide to buy or sell some­thing, we’ll let you know. 

Got a ques­tion? 
[email protected]