Meeting Management

Posted on 26/05/2023

This episode is made possible by Progressive Equity Research, providing freely available engaging research & opportunities to hear from a wide range of small & mid-cap UK-listed companies.

For today’s episode, I am rejoined by Sukh Chamdal, the founder and CEO of AIM-listed Cake Box. 

For background on Sukh and Cake Box, you should listen to episode 2 from November 2021, where Sukh talked about the formation of Cake Box as a retailer of egg-free celebration cakes and growth via a franchising model.  

I was keen to catch up with Sukh as, over the last 18 months, the UK consumer has been under pressure from the rising interest rates, inflation and a general cost of living crisis.  

Cak Box has also had specific issues not uncommon among growing businesses, and Sukh has a new senior management team. 

I visited Sukh last Summer and saw the Enfield distribution centre. I witnessed Sukh's passion for all aspects of the business, particularly the development of new products and production and distribution efficiency. 

Cake Box now has over 200 stores and continues to grow. Sukh believes that consumers have re-adjusted to the higher cost of living and remain prepared to spend on treats for birthdays and special occasions. 

Please enjoy my catch-up with the maverick, Sukh Chamdal.

Posted on 05/05/2023

This episode is made possible by Progressive Equity Research, providing freely available engaging research & opportunities to hear from a wide range of small & mid-cap UK-listed companies.

For today’s episode, David Seaman of Alpha Cygni Investment Management joins me for a conversation with James Wilson, fund manager of The Huginn Fund. The Huginn Fund applies the value investing principles of the wider Phoenix Asset Management team to international markets. However, James has his own very distinctive approach to investing. 

David and I have attended the Phoenix Annual Investor Meetings together for the last couple of years and have been impressed by James’ presentations of his top picks, last year of French champagne house Laurent Perrier and this year's US onshore gas producer CNX. 

James talks about his investment philosophy, why he seeks to invest in leaders rather than managers and the difference leaders can have on their organisations. He gives us insights into what he regards as the hidden value in three companies covering the French luxury goods industry, the US natural gas market, and the UK floor coverings market. 

James dives into his holdings in Laurent Perrier, CNX and the UK’s Likewise Group. 

James leaves few stones unturned in his approach to getting insight and understanding of the companies he invests in. He gives us a masterclass in value investing, the importance of doing the work, and the insights it can yield.  

I learnt a lot from this conversation. I hope you do too. 

Posted on 21/04/2023

This episode is made possible by Progressive Equity Research, providing freely available engaging research & opportunities to hear from a wide range of small & mid-cap UK-listed companies.

I am joined by private investor Mark Atkinson, host of the Desert Island Investor Podcast, for a conversation with Mark Smithson, the founder and CEO of Marks Electrical. 

Marks Electrical is an AIM-listed online retailer of household electrical products providing nationwide next-day delivery of a wide range of household appliances.  

Mark’s straightforward approach to his business is based on an enduring work ethic, deep domain knowledge and a commitment to business efficiency based on common sense and the application of technology.  

In today’s episode, we follow the story of an entrepreneur who started selling reconditioned second-hand gas cookers in the 1980s to become CEO of a listed business with a shareholding worth over £60m.

Mark talks openly about the challenges he’s faced and the mistakes he has made. 

However, armed with a “never give up” attitude, he sees his business as well positioned to grow market share in the competitive space for household appliances. Mark epitomises raw entrepreneurial spirit, and his story has lessons for us all.