Direct From The Desk – I took a quick look at CYB today and outlined some of the reasons why it’s been strong in recent times – largely comes down to interest rate expectations in the UK and they’re highly leveraged to it. A 1% hike in rates in the UK gives CYB earnings a +30-40% boost. We have 10% of the MM Platinum Portfolio in CYB and enjoying the ride. I cover our target level in the update below.
James is a Portfolio Manager within Shaw and Partners heading up a team that manages direct equity and option portfolios. He is also the Primary Contributor to Market Matters, a daily investment report that offers real market insight.