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Simon Thompson's Bargain Portfolio


The idea behind our annual Bargain Shares Portfolio is very simple. It’s to invest in companies where the true worth of the assets is not reflected in the share price, usually for some temporary reason, but where we can reasonably expect that it will be in due course.

Our portfolios are based on the investment ideas of Benjamin Graham (see box ‘Rules of Engagement’) and they have beaten the FTSE All-Share index in 13 out of the 16 years in which we have run them. During that time, they’ve generated an average return of 22.7 per cent in the first 12-month holding period compared with an average increase of 4 per cent for the FTSE All-Share.


Latest Updates

  1. Bargain shares on a tear

    Bargain shares on a tear

    By Simon Thompson | 23 August 2016

    Two of Simon Thompson's Bargain shares have been on a tear, and with good reason too.

    Having run through the company's 10 largest holdings, I estimate they are worth 15.2 per cent more than their end July valuation which means that the share price is 10 per cent below my estimate of spot net asset value.

  2. Exploiting sterling weakness

    Exploiting sterling weakness

    By Simon Thompson | 18 August 2016

    Simon Thompson sees a valuation anomaly to be exploited in the shares of a property fund manager.

    So, with the shares trading at book value, and potential for EPS estimates to be increased by more than 20 per cent if sterling fails to regain its losses between now and the end of March, then there are clear catalysts for a higher share price.

  3. New mandate for LMS

    New mandate for LMS

    By Simon Thompson | 17 August 2016

    Shareholders in small-cap private equity fund have appointed a new investment adviser, and approved three tender offers.

    There is potential for new investors to warm to the shares as the implementation of the investment strategy should make LMS’s shares an attractive investment to long term family office, high net worth and specialised institutional investors who want some listed exposure to Strategic Public Equity investment strategies.

  4. Golden gains

    Golden gains

    By Simon Thompson | 17 August 2016

    Shares in one of the UK’s leading pawnbrokers have surged this year, but is there more upside potential?

    The US election, UK referendum on EU membership and implications of the ‘Brexit’ outcome, the increasingly parlous state of Italy’s banking sector, and geopolitical unrest in the Middle East have proved a potent combination as far as gold investors are concerned.

  5. Bargain shares portfolio half-year report

    Bargain shares portfolio half-year report

    By Simon Thompson | 15 August 2016

    Simon Thompson reports a storming performance from his 2016 Bargain share portfolio at the half-way stage.

Our portfolios

Mr Bearbull's Global Fund Portfolio

A portfolio of instruments designed to capture the rise of emerging markets

Mr Bearbull's Income Fund Portfolio

A collection of high-yielding shares that's beaten the market since 1998

Chris Dillow's Benchmark Portfolio

Simple portfolios picked using simple rules that often beat the market

John Baron's Investment Trust Portfolios

A portfolio of investment trusts designed to generate growth and income

David Stevenson's SIPP Portfolio

Our columnist describes how he manages his pension fund and what he puts in it

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