Just placed an order after a good session with L looking at the next investment. We reviewed a whole load of companies off the watchlist - United Utilities, National Express Group, AstraZeneca, EnCana Corporation, Zipcar, and CareTech.
Regular blog readers, if such people exist, will know I have been keen on CareTech for well.....ages. They are a specialist care home provider for adults and children with mental and physical disabilities. I went to their office once and they certainly don't splash the cash on unnecessaries like flashy offices - but they do make sure they pay consistent, increasing dividends (4.65% as I write, according to Google Finance) twice per year.
Like the whole care sector, the wonderful Southern Cross has smashed their share price to pieces (down 66.49% over five years) - pretty much totally unfairly based on the business I am looking at today. Very few analysts review them - but those that do are big fans according to Yahoo Finance. So, with Southern Cross in mind it is a massive contrarian purchase - but equally should be resilient based on the contracts it has with local government.
I've tee'd up a big buy tomorrow - I looked at the market situation which is definitely a "down" at the moment - so boosted my investment by 10% (as detailed earlier). Should be a good long term bet - I suspect that once they are back in favour they will form a good nucleus for a private equity buy and build strategy.
Good news this evening too about pastys. Greggs should bounce tomorrow morning.
Wednesday 4th July (Independence Day theme anyone?) should be my next investment date.
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