Trying to time cycles is a perilous task and many economists and market experts get it wrong. Rather than try and spot peaks and troughs, it is far better to focus on finding shares in quality companies that aren't too expensive. While trying to time the market is tricky it is worthwhile to re-visit the investment case for shares that have had a good run.
I'm not a fan of house builders generally, because I think that Help to Buy has distorted the new-build market and inflated the view of what a sustainable level for their profits is. This week I look at how the fundamentals are holding up for Barratt Developments (BDEV), Redrow (RDW) and Bellway (BWY).
Also in this report, I explain why contract caterer and services business Compass Group (CPG) has changed my view of it since my early days as an analyst. Plus, I run the rule over Ryanair (RYA) and Carpetright (CPR).
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