Election loss— market gain
Mr Wotherspool
My poor client, Mr Wilde — I had expected to hear praises about the performance of his portfolio during his absence. Alas! he is no ordinary dealer in shares. Indeed his latest fancy has been to throw himself into local government. The result has been catastrophic. This is Wilde's letter I received this morning: "Dear Wotherspool, the electorate have failed me. I have campaigned in my small market-town against the mighty battalions of the Tory party — their election machine was too well oiled and I have conceded defeat. Perhaps I should explain that I was standing as a strict Independent although I did allow my imagination to wander at times. If, for instance, I was greeted on my rounds by an obvious Tory, naturally at the general election I had voted Conservative, but local government was another matter. Similarly I was on occasions a tailor-made Labour and Liberal. Despite my .subtleties, however, the Tories each polled about 400 votes leaving myself with 280 and Labour struggling with 88. I am thus utterly disheartened, Wotherspool, so please do not add to my misfortunes by causing me distress on the stock market."
These were indeed hard words to my tender Tory ears (what a thought — the top 25 companies nationalised) and I was glad that Wilde ha's been spared local bick ering. His mind is too active on wider plains. Anyway he has honoured me with the task of again selecting a share. This I honestly find daunting and I have no idea how Wilde manages to select a share each consecutive week. The choice, anyway, is Metal Closures. This is a company which does what its name implies and I suppose at least once a day we come in contact with the company's workmanship — when we clean our teeth.
So with consumer spending at a high level, Metal Closures should do very well indeed. And in spite of the gas dispute at the beginning of the year the chairman is optimistic. And it will be noted that the DIY and the brewing industry are large customers of this £20m group. Outside the home front Metal Closures has a large export market counting for about a tenth of sales. Finances are strong and Metal Closures has a great deal to look forward to in the current year.
hortunately the clear out of stocks a few weeks ago still leaves me sufficiently in funds to finance this latest purchase from my own resources. However, I have thought it wise to sell my stake in C adbury -Sch weppes.
Previous page
