Whether you agree with Tim Martin’s political rants in JD Wetherspoon (JDW) market announcements or not, one cannot argue with the fact that the company has been a stock market success. Wetherspoon is a great example of one of Peter Lynch’s principles. The legendary manager of the Magellan fund at Fidelity – who averaged 29 per cent across a 13-year period – has often said that good companies are right in front of us.
It’s a principle I can sorely relate to, because if only I’d have spent as muchon Wetherspoon’s shares during my university years as I did on its products, I would have trebled my money rather than seeingit soak away.
However, much of that gain would’ve been eroded in recent weeks. All Wetherspoon pubs are now closed, with no money going through the tills. The company announced via the RNS that it will remain shuttered until late June 2020 (although the government says 4 July). And this can only be an estimate, as in this Coronavirus crash six weeks is a long time.