Bought at: 95p (August 2011)
Still holding at: 127p (June 2013)
THE MARKET’S SHORT-TERMISM and obsession with earnings is a common factor in creating good cheap shares for deep value investors. Even global success stories with fairly strong share prices are not immune to it, as was the case with Bloomsbury Publishing, the British publishing home of Harry Potter.
This is a great example of an attractive, cash-rich company which, after analysing, I knew I wanted to invest in – it was just a question of waiting for a general market panic to push short-termist investors into a sell-off.
Bloomsbury Publishing was founded over 25 years ago, listing on the London Stock Exchange in 1994. The company ...