Xavier MacDuff @xvrmdf.bsky.social · 08/09/2026Added to my holding in Knights Group, a UK-listed consolidator of regional law firms. Growing organically, and at an incredibly cheap valuation. KGH 010
Xavier MacDuff @xvrmdf.bsky.social · 05/09/2026Good podcast here from fund management bad boy Neil Woodford on how mismeasurement of UK productivity growth is leading to fiscal and monetary policy mistakes.open.spotify.comBritain’s Productivity Crisis: A Great Deception?Noise Cancelling with Neil Woodford · Episode 110
Xavier MacDuff @xvrmdf.bsky.social · 01/09/2026A pretty depressing take on life as a young person in small town UK. ignatius55.substack.com/p/britains-n...ignatius55.substack.comBritain’s New UnderclassAmerica’s ‘Pyjama Pants Whites’ are here! 110
Xavier MacDuff @xvrmdf.bsky.social · 31/08/2026We have a hybrid and it's great! Electric power does most of our day-to-day driving, and then the petrol engine kicks in for longer journeys, with no worries about range and battery charging.latimes.comHybrid cars are hot again globallyToyota and Chinese automakers are seeing intense demand while other companies rush to add more hybrids to their lineups. 030
Xavier MacDuff @xvrmdf.bsky.social · 19/08/2026Seeing quite a few normally sensible people defending Jason Arday and criticising the investigation into him. * Liar/fantastist/plagiarist/fraudster. * Calls police and libel lawyers to shut-down his critics. * Gets found out, can't deal with the consequences. 110
Xavier MacDuff @xvrmdf.bsky.social · 13/08/2026Me, an idiot: "This stock looks really good value here, I'll just sit back and watch it rally 25% in 2 months." 020
Xavier MacDuff @xvrmdf.bsky.social · 31/07/2026"Jevons strikes again!"open.substack.comWhy Bears Will Be Wrong About AI, AgainA basic explanation of Jevon's Paradox and Joseph Schumpeter's Theory of Innovation 000
Xavier MacDuff @xvrmdf.bsky.social · 22/06/2026I keep looking at former "no-brainer" compounder stocks and seeing that they're down ~50%. Painful. 030
Xavier MacDuff @xvrmdf.bsky.social · 15/06/2026Good piece of analysis here (based on simulated portfolios using actual share price data) showing how taking profits on winning positions is a toxic strategy. 120
Xavier MacDuff @xvrmdf.bsky.social · 15/06/2026Superb podcast with Whale Rock Capital founder Alex Sacerdote. If the valuations of Al/tech stocks seem baffling (they do to me), then this is great for understanding why the bulls seemingly pay such hugh multiples.open.spotify.comAlex Sacerdote - How to Invest Through Technology Cycles - [Invest Like the Best, EP.477]Invest Like the Best with Patrick O'Shaughnessy · Episode 010
Xavier MacDuff @xvrmdf.bsky.social · 01/06/2026Move your primary listing to the United States, get yourself a valuation uplift. Like Wise has done. Oh, wait. 130
Xavier MacDuff @xvrmdf.bsky.social · 29/05/2026Starmer uses that line so favoured by UK net zero proponents: "North Sea oil ... has no discernible impact on the global price of oil and gas." Technically true, but highly disingenuous. Every barrel from the North Sea is more secure, has lower transport costs, and creates jobs/tax revenue.open.substack.comTony Blair might not like my plan, but he's wrong: it's changing Britain for the betterA Britain built for all 220
Xavier MacDuff @xvrmdf.bsky.social · 20/05/2026Interesting to see in the Berkshire 13-F that they've sold out of Pool Corp, just as sales growth is inflecting positively. They bought in during mid-2024, when the share price was much higher, and the sales growth severely negative. What was their rationale back then? $BRK $POOL 120
Xavier MacDuff @xvrmdf.bsky.social · 18/05/2026Good note here on UK healthcare REIT Primary Health Properties plc. (I own it).open.substack.comPrimary Health Properties (LON: PHP)The NHS’s Landlord Just Got a Lot Bigger 100
Xavier MacDuff @xvrmdf.bsky.social · 18/05/2026My Instagram feed is suddenly full of adverts like this for property in the Gulf. Good luck selling those! Note: Not sure how this is being targeted - I've never searched or browsed for this. 020
Xavier MacDuff @xvrmdf.bsky.social · 17/05/2026Good piece here on the Greggs investment case. (I own it).substack.comThe Economics of a Sausage RollEveryday indulgences, scaled with discipline, and quietly mispriced. 030
Xavier MacDuff @xvrmdf.bsky.social · 08/05/2026Pattern in the Scottish election is one of Reform helping the SNP to stay in power by splitting the unionist or Conservative vote in a way that denies the nearest challenger a chance of winning. 200
Xavier MacDuff @xvrmdf.bsky.social · 08/05/2026Along with Edinburgh, St Andrews, and Bearsden (Glasgow), many of the highest income parts of the UK are now Lib Dem strongholds. 140
Xavier MacDuff @xvrmdf.bsky.social · 17/04/2026Increasingly in the UK, the response to economic problems is not to treat causes, but instead to treat symptoms with price regulation. We have: ⚠️ Minimum wage ⚠️ Energy price cap ⚠️ Rent controls ⚠️ Affordable housing quotas And plans for: ⚠️ Maximum wage controls ⚠️ Food price caps 040
Xavier MacDuff @xvrmdf.bsky.social · 10/04/2026Very good for seeing Terry's evolution from focused almost exclusively upon consumer staples investing to an embrace of a broad array technology-enabled growth companies across healthcare, payments, software, and data services. 100
Xavier MacDuff @xvrmdf.bsky.social · 20/03/2026Hiking interest rates in response to a supply-shock driven jump in oil prices is absolutely the perfect recipe for a recession. 052
Xavier MacDuff @xvrmdf.bsky.social · 17/03/2026Update: I've just added a falling knife to my PA portfolio. Wish me luck. (Entry price: 3,711p) 031
Xavier MacDuff @xvrmdf.bsky.social · 09/03/2026It's a cool and still spring day, so there is little wind or solar for the UK, and so we're relying on gas and imports for our electricity generation. Disastrous energy security situation to be in. 000
Xavier MacDuff @xvrmdf.bsky.social · 07/03/2026Craft brewers dropping like dominoes. Almost zero recovery value for investors/lenders. It was a ZIRP phenomenon.bbc.co.ukMore than 100 jobs go as brewer Innis & Gunn is bought by Tennent's ownerInnis & Gunn's bars and breweries will close after the company was sold to the C&C Group in a £4.5m deal. 110
Xavier MacDuff @xvrmdf.bsky.social · 23/02/2026I'm really not impressed by much of the news output from the BBC, but I'm absolutely blown away by Steve Rosenberg's reporting from on the ground in Moscow. Consistently excellent and incredibly brave. 020
Xavier MacDuff @xvrmdf.bsky.social · 23/02/2026These are actually sensible policies and most people will be quite surprised that we don't do these things already. 000
Xavier MacDuff @xvrmdf.bsky.social · 19/02/2026"Move your listing to the US", they said. "You'll capture a higher multiple", they said. 020
Xavier MacDuff @xvrmdf.bsky.social · 09/02/2026The right wing press could be like the dog that caught the car if their calls for Kier Starmer to resign succeed. Any replacement will certainly be more left wing and will have over 3 years in power until the next election. 021
Xavier MacDuff @xvrmdf.bsky.social · 03/02/2026Pouring one out tonight for Nick Train and Terry Smith, who rode consumer staples all the way down, before rotating into data services stocks, which are now getting smashed on the assumed threat from AI. 2131
Xavier MacDuff @xvrmdf.bsky.social · 29/01/2026Another compounder bro favourite "never sell" stock getting absolutely crushed. 040
Xavier MacDuff @xvrmdf.bsky.social · 26/01/2026UBS are forecasting that Global Payments will generate $12.25bn of FCF in the 2026-28 period, equal to 58% of market cap, but someone only rate it "neutral", with a 12m price target of $93 (+25% upside). $GPNmedia.tenor.coma woman with long brown hair is making a funny face with her finger in her hairALT: a woman with long brown hair is making a funny face with her finger in her hair 030
Xavier MacDuff @xvrmdf.bsky.social · 26/01/2026Even the Guardian now recognises the £100,000 tax trap represents a serious problem.theguardian.comOn £100k and feeling hard-done-by? It seems absurd – but a cold truth lies beneath | Jason OkundayeIt comes to something when ‘Henrys’ in London worry about money, but that’s the reality of today’s wages and the cost of city living, says Jason Okundaye, a Guardian assistant opinion editor 120
Xavier MacDuff @xvrmdf.bsky.social · 26/01/2026Economic growth goes to where the transport connections are: “You’ve got three motorways [M6, 56 and 62]; the west coast mainline; two railways east to west; the ship canal, and two airports."theguardian.com‘A southern economy in the north’: how Warrington has adapted to changeGood transport links and the quietly booming nuclear sector are helping the Cheshire town to thrive 110
Xavier MacDuff @xvrmdf.bsky.social · 22/01/2026Quite annoying. I bought Kitwave a year ago at 301p and management have just agreed a takeover at 295p. 040
Xavier MacDuff @xvrmdf.bsky.social · 21/01/2026There are a crazy number of new hotel developments currently underway in Edinburgh. The transformation into Venice continues at pace.scotsman.comEdinburgh Developments 2026: 20 hotels that will add over 3,500 rooms for visitors to the CapitalThe 20 developments are set to add a total of 3,578 hotel rooms across Edinburgh. 020
Xavier MacDuff @xvrmdf.bsky.social · 21/01/2026Brother-in-law (airline pilot) has just texted to ask if he should be buying some gold. Make of that what you will. 040
Xavier MacDuff @xvrmdf.bsky.social · 13/01/2026Octopus & sea bream ceviche, followed by rib of pork with shitake and oyster mushrooms. 020
Xavier MacDuff @xvrmdf.bsky.social · 11/01/2026Lots of attention this week on the soggy performance of Nick Train and Terry Smith, but let's not ignore Baillie Gifford's Scottish Mortgage, which seems to have largely missed-out on the AI boom of the last few years. 230
Xavier MacDuff @xvrmdf.bsky.social · 08/01/2026I know I posted about this a lot, but the BBC/UK media is far too America-brained. I just turned on BBC Newsnight and for the second night running they're leading on the ICE shooting in Minneapolis. US domestic news shouldn't really be getting more than a quick mention. 170
Xavier MacDuff @xvrmdf.bsky.social · 02/01/2026Well, 2026 has started with a big "Buy AI supply chain" vs "sell enterprise software" trade! 170
Reposted by Xavier MacDuffSteve 🏳️🌈🇬🇧 @wohyeahwohyeah.bsky.social · 01/01/2026It's possible to acknowlege how dysfuctional Starmer's reign is whilst also accepting most of media and social media is controlled by people who want a Reform government. It's not either/or. 111
Xavier MacDuff @xvrmdf.bsky.social · 23/12/2025There is a lot of doomerism about the UK, and I'm very guilty of it, so it is great to read a piece about the success of the country's technology sector:observer.co.ukAmid the economic gloom, the UK's tech firms give us a re...With more unicorns, thoroughbreds and colts than most other European countries, Britain is a world leader in the sector, providing an opportunity that must be grasped 020
Xavier MacDuff @xvrmdf.bsky.social · 23/12/2025I wonder how much of this is GLP-1s? Scotch drinkers skew older and wealthier than average, pretty similar to the GLP-1 user base. 120
