Monthly Archives: March 2018

Royal Dutch Shell: March 2018 Dividend

On Monday 26th March, Royal Dutch Shell paid its quarterly dividend to its shareholders:

it was:- 33.91p a share:-

RDSA Royal Dutch Shell A FTSE 100 $0.47 (33.91p) 26-Mar
RDSB Royal Dutch Shell B FTSE 100 $0.47 (33.91p) 26-Mar

Shell A

Shell B

Now, 33.91p to shareholders has cost Shell:-

Royal Dutch Shell plc’s capital consists of 4,597,136,050 A shares and 3,745,486,731 B shares, each with equal voting rights. Royal Dutch Shell plc holds no ordinary shares in Treasury.

The total number of A shares and B shares in issue is 8,342,622,781

8,342,622,781 x £0.3391 = £2,828,983,385.04

That is £2.828 Billion. Delicious.









The Shares that Berkshire Hathaway owns: Investment of $74bn worth $170bn

Shares Company Percentage of Company Owned Cost $m Market Price $m
151,610,700 American Express 17.60% $1,287 $15,056
166,713,209 Apple 3.30% $20,961 $28,213
700,000,000 bYD Company 6.80% $5,007 $20,664
53,307,534 The Bank of New York Mellon 5.30% $2,230 $2,871
225,000,000 BYD Company 8.20% $2 232 $1,961
6,789,054 Charter Communications 2.80% $1,210 $2,281
400,000,000 The Coca-Cola 9.40% $1,299 $18,352
53,110,395 Delta Airlines 7.40% $2,219 $2,974
44,527,147 General Motors 3.20% $1,343 $1,825
11,390,582 The Goldman Sachs Group 3.00% $0 654 $2,902
24,669,778 Moody’s 12.90% $9 248 $3,642
74,587,892 Philips 66 14.90% $5,841 $7,545
47,659,456 Southwest Airlines 8.10% $1,997 $3,119
103,855,045 US Bancorp 6.30% $3,343 $5,565
482,544,468 Wells Fargo 9.90% $11,837 $29,276
Total $ 74,676 $ 170,540

2017-18 Equity Selection

ISA Selection, a broad and diverse range of funds are from Legal & General PLC

Multi-Index 3

Multi-Index 4

Multi-Index 5

Multi-Index 6

Multi-Index 7

Global Technology Index
Global 100 Index Trust L&G Asian Income Trust
L&G Worldwide Trust

Emerging Markets Index Fund

High Income Trust

Distribution Trust

JPMorgan Russian Securities Investment Trust

The JPMorgan Russian Securities Investment Trust is a £275m London Listed Investment Trust.

Top 10 Holdings:-

Sberbank of Russia Financials 18.3% of the fund
Gazprom ADR Energy 14.7% of the fund
Lukoil ADR Energy 8.8% of the fund
Rosneft GDR Energy 6.1% of the fund
Novatek GDR Energy 6.0% of the fund
Norilsk Nickel ADR Materials 5.3%% of the fund
Tatneft including ADR Energy 4.9% of the fund
ALROSA Materials 2.7% of the fund
Polyus GDR Materials 2.2% of the fund
Novolipetsk Iron & Steel GDS Materials 2.1% of the fund

3.9% yield.





A work of art: Berkshire Hathaway Letter:

The investment company of Warren Buffett

To the Shareholders of Berkshire Hathaway Inc.:

Berkshire’s gain in net worth during 2017 was $65.3 billion, which increased the per-share book value of

both our Class A and Class B stock by 23%. Over the last 53 years (that is, since present management took over), pershare

book value has grown from $19 to $211,750, a rate of 19.1% compounded annually.*

The format of that opening paragraph has been standard for 30 years. But 2017 was far from standard: A

large portion of our gain did not come from anything we accomplished at Berkshire.

The $65 billion gain is nonetheless real – rest assured of that. But only $36 billion came from Berkshire’s

operations. The remaining $29 billion was delivered to us in December when Congress rewrote the U.S. Tax Code.

(Details of Berkshire’s tax-related gain appear on page K-32 and pages K-89 – K-90.)



Clever Quote: How many millionaires do you know who have become wealthy by investing in savings accounts….

How many millionaires do you know who have become wealthy by investing in savings accounts…. (A quote from Robert Allen)

The reality is that cash and bank deposits are low risk and fine for near term spending requirements and emergency funds but they won’t build wealth over long periods of time.. Despite periodic setbacks (1929 Crash, 1987 Crash, 2008 Global Financial Crisis), shares and other growth assets provide much higher returns over the long term than cash and bank deposits.

AEW UK Long Lease REIT Plc

AEW UK Long Lease REIT aims to offer investors a secure, diversified and inflation-linked income return, whilst at least maintaining capital values in real terms, through exposure to alternative and specialist real estate sectors in the UK.

It currently holds 11 real estate assets:-

HM Government Borrowings: Feb 2018

Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties. Another deficit month, thus to bridge the gap, needs to borrow on the bond market.

In Feb 2018 , the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is The PSNCR: The Public Sector Net Cash Requirement.

There were “only” 2 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office ( to raise cash for HM Treasury:-

22-Feb-2018 0 1/8% Index-linked Treasury Gilt 2036 3 months £950.0000 Million
15-Feb-2018 1¾% Treasury Gilt 2057 £2,562.6800 Million

∑(£950.0000 Million + £2,562.6800 Million) =  £3512.68 Million

£3512.68 Million  = £3.51268 Billion

On another way of looking at it, is in the 28 days in Feb, HM Government borrowed:-

£125 million each day for the 28 days.

We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bond mature 2036 and 2057. All long term borrowings, we are mortgaging our futures, but at least “We Are In It Together….