Two years ago in my annual performance commentary I wrote the following:
2015 was a year in which many Value Investors seem to have struggled and underperformed the world index. One explanation for this poor performance has been put down to the fact that a handful of companies, that few Value Investors own, outperformed. These companies have become known by the acronym FANG because it consists of Facebook, Amazon, Netflix and Google.
I do not own any of the FANG companies so I am delighted to report that my DAFT portfolio managed to outperform. DAFT consisting of DCC, Amadeus Fire, Fairwood Holdings and Total Produce.
With regard to 2017 I could repeat the above almost word for word but this time my DAFT portfolio has become the DAPHT portfolio where Diageo, Atea, Pfeiffer Vacuum, Hostelworld and Total Produce helped me to have another really good year (not having any major disasters in the portfolio also helped).
This now means I have a ten year performance history and luckily I have made enough good decisions to generate some outperformance. I look forward to the next ten years....Warren Buffett will only be 97 when I write about my 20 year track record!
|Directors:|| Kenneth Power (Managing) B.Comm, MBS, ASIP, Regular Member of the CFA Institute.