Timestamps
Equity outlook & impact of fund redemptions. 00:00
What types of company Whitman invests in. 07:55
Tracsis plc. 09:40
IQGeo .12:45
Calnex Solutions. 15:55
Idox plc. 19:15
SDI Group plc. 22:40
ERGOMED. 25:50
Advanced Medical Solutions. 29:30
Young's Pubs. 32:10
YouGov. 35:25
RWS Group. 39:50
Keywords Studios. 43:10
CVS Group Plc. 47:10
Ashtead Technology. 50:15
Porvair plc. 55:25
accesso. 58:35
Instem. 62:45
Disclosure: Vox Markets paid me to record this interview.
Stocks owned : EQLS, AGFX, Pfizer, Bristol Myers, Roche, WATR, VCT, MBH, ASTO, IOM, TR25, ESYS, ELCO, IHC, Paypal & AOM Elsewhere, I'm also paid by Vox Markets (as a contractor) to interview interview fund managers, capital market experts & companies (re EQLS, VRCI, BELL, FIN, AVG, AVCT, LLAI, VLG, FADL, SUP, ELCO, LORD , MPAC & ONC). I believe all these stocks are clients of Vox.Lastly my 24 year HIT RATE is only 62%. Meaning 38% of the time I lose money (ie often wrong) - albeit my winners are (on average) 1.5x larger than my losers. Please Do Your Own Research. more »
I hold Youngs non voting shares Young & Co's Brewery (LON:YNGN) . They carry all the benefits of the voting shares Young & Co's Brewery (LON:YNGA) except the right to vote at the AGM, or as Andrew Hollingworth, manager of VT Holland Advisors Equity Fund puts it the entitlement to tea and biscuits.
Young & Co's Brewery (LON:YNGN) trading at 875p, yield 2.65%, discount to NAV around 30%.
Voting shares Young & Co's Brewery (LON:YNGA) trading at 1229p, yield 1.83%, trading around NAV.
Seems a no brainer to me.
Very good selection of businesses here. I own, or have owned more than half of them. Whether that’s a recommendation or not, the jury’s out.
Paul, many thanks for this latest video with Josh Northrop, which I really enjoyed. I own five of those stocks (Tracsis (LON:TRCS) Calnex Solutions (LON:CLX), Idox (LON:IDOX), SDI (LON:SDI) & accesso Technology (LON:ACSO)) so it was good to hear Josh discuss the positives on those, with several others to research further too. I'll look out for the update in six months' time...
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jonno, what would happen in a takeover? Could an offer be made for the voting shares only, leaving the non-voting shares orphaned in some way?
Good question and in short I don't know the answer, but I very much doubt that the 'legal process' would allow the non voting shares to be disenfranchised. I suspect the somewhat archaic share structure is a historical throwback, that allowed the founders, one of whom was a Charles Young to retain overall control of the business. Fuller Smith & Turner (LON:FSTA) has an even more convoluted share structure from memory, with A, B and C shares
The Young non voting shares are held by some well informed investors, Nick Train comes to mind. He holds them the Finsbury Growth and Income Trust. I would also mention Andrew Hollingworth who I referenced above.
On that note I will do some more research and try to provide a more informed answer.
