FEATURES:
Forget about growth. Many quoted companies are in decline and it takes special adjustments to value them accurately. Philip Ryland provides the tools and an explanation.
It's not just declining companies that present a valuation challenge - working out how much growth companies are worth introduces even greater scope for error. John Hughman reports.
SEVEN DAYS:
■ All you need to know about investing in the past seven days: What's rising, what's falling and what's making the headlines.
CHARTS OF THE WEEK:
■ Our selection of the most interesting charts published this week.
ECONOMIC OUTLOOK:
■ Is QE deflationary? - Chris Dillow says the possibility that QE will eventually lower prices in western economies reminds us that monetary policy is unpredictable when interest rates are low.
■ Next week's economics: The eurozone is struggling to emerge from recession, next week's figures could show.
NEWS:
■ Joined-up thinking on North Sea oil.
■ Updates in the UK oil and gas sector.
■ The Bank of England's forward guidance fails.
■ Just Retirement floats at 225p.
■ Tritax proposes new industrial Reit.
■ Takeaway from China's 18th Party Congress.
COMMENT:
Our columnists offer in-depth analysis and investment ideas:
■ The Editor: Property's potential - Talk of a property bubble is wide of the mark - in fact, canny buyers can still pick up buy-to-let bargains around the country.
■ Simon Thompson has written the following articles this week:
- Hitting the jackpot: Our companies editor has been in a rich vein of form all year and a number of the shares on his watchlist have now surpassed his target prices.
- Bargain shares updates: Our companies editor revisits his two best performing bargain share property picks this year and sees further scope for share price upside.
- Hot property plays: Our companies editor's property plays have been soaring - and with good reason.
■ The Trader: Animal spirits - Too many investors are bullish for my liking right now, although that's not to say a sell-off is imminent.
The Trader, Dominic Picarda, publishes his outlook for ten major equity, currency and commodity markets on a regular basis. You can view his articles on his comment page, or sign up to The Trader's market outlook emails.
■ Chris Dillow: The old problem: Equity investors should be worried by the UK's high and rising trade deficit. Also see:
- The return of political risk: Equity investors face increased political risk. But perhaps this isn't a big problem.
- When theory succeeds: The much-maligned capital asset pricing model still has its uses.
Read more articles by Chris Dillow on his comment page.
■ Mr Bearbull: China's consuming challenge: How do UK investors connect with China's consumers? Not easily - but here’s an exchange traded fund that helps.
■ Chronic Investor: Avoid the sting in crowdfunding's tail.
YOUR MONEY:
Financial planning, tax and investment wisdom:
■ Portfolio: Isa portfolio needs the 80-20 rule.
■ Financial planning: Pension tax threat to higher earners.
■ Cautionary tale for grandparents who pass money to younger generation: Older generations who want to gift their children substantial assets should consider taking professional advice.
SHARE TIPS OF THE WEEK:
■ Overlooked, undervalued and high quality: this support services company has all the ingredients to be a star performer.
■ Slowing sales, a challenged breads business and a massive debt pile is making life tough for this food business, and that's why we believe it's time to ditch the shares.
■ Shares in this iron ore producer look stretched, and as a 'pure' iron ore play, the company is particularly sensitive to spot price movements - which we believe will be downward.
■ More and more blue-chip customers are keen to embrace this construction company's one-stop shop integrated service offering.
FUND TIP OF THE WEEK:
■ Here's a way to get yield and growth, at a discount, from the world's richest country.
SHARE TIP UPDATES:
■ BSkyB
■ Hiscox
■ Record
BROKERS' TIPS:
■ G4S
FUNDS:
■ Fund news: Don't waste your money with old-style brokers.
■ Shares I love: Diamond Lee, manager of the Ignis International China Fund, explains why he invests in the largest internet company in China.
■ The big theme: Pick the absolutely right fund.
■ Interview: Matthew Brett talks about the opportunities still left in the Japanese equity market
SHARES:
■ Stock screen: Five good value, genuine growth shares.
■ Sector focus: Energy suppliers - Widespread anger over rising energy prices has hammered Centrica and SSE, but a relief rally is on the cards now that the political debate has shifted from company profits to green levies.
■ Dividend of the week: Mark Riding of DividendMax goes in search of quality global dividends.
■ The lowdown on the latest company results:
■ Babcock
■ BowLeven
■ BTG
■ Fenner
■ Flybe
■ Grainger
■ Halfords
■ ICAP
■ Invensys
■ Lonmin
■ Shanks
■ SSE
■ TalkTalk
■ Vodafone
■ Directors' dealings: Notable transactions at Regenersis, plus a table of all boardroom share trades.
■ Week ahead: A summary of key company announcements expected in the coming week.
TAKEOVERS:
■ Download this week's takeover tables as a PDF.
