So -
'How old is this PR email, boss?'
How do you know it's a PR email, Voice?
'Lucky guess. / 'Cause, you know, you didn't do any last week, did you?'
Christ! Just be happy we've got something to write about.
Idiot!
Anyway ...
Wealth Club, the UK's largest broker for wealthy and sophisticated clients has announced the appointment of Charlie Huggins as Head of Equities. In his role Charlie will be responsible for the roll out of a discretionary share portfolio service, which is due to launch at the end of 2022.
Ha! Wealthy and sophisticated clients! Imagine if their clients were wealthy and unsophisticated! 'That would be bloody terrible, boss. It just wouldn't work.' Well, it happens. It happens at other firms. 'Does it?' Pardon? 'Does it happen at other firms?' Er ... I don't know. I was just making conversation. 'Oh.'
This voice ...
Anyway ...
Charlie joins from Hargreaves Lansdown where he worked for over 10 years, including five years as a fund manager overseeing c. £500 million of assets. He was lead-manager on the HL Select UK Growth Shares Fund and co-manager on HL Select UK Income Shares. Prior to managing funds, Charlie worked as a Fund Research Analyst. He is a CFA Charterholder as well as holding the Investment Management Certificate (IMC) and a diploma in regulated financial planning. Charlie studied Biochemistry at Oxford University, gaining a First Class Master's Degree.
Okay. That's all great. The BIG QUESTION is, though ... DO WE KNOW WHO CHARLIE HUGGINS IS???
'He's Charlie Huggins.'
Well, that's what they say. I guess we'll have to take their word for it. 'We're too trusting sometimes.'
Yeah, yeah.
Okay. Here's another question, a smaller one. Does our Charlie have philosophy? ...
Charlie's investment philosophy is to own quality businesses with high barriers to entry, high returns on capital, strong balance sheets, healthy margins and prodigious cash generation. He views management and culture as very important and often underappreciated aspects of long-term business success. He favours a concentrated portfolio from across the globe, with high hurdle rates for acceptance and low turnover.
Well, that's impressive! I wasn't expecting that! 'What were you expecting, boss?' Er ... I was just making conversation, Voice.
[He takes all this very seriously, doesn't he?]
Anyway ...
Alex wants to say something ...
Alex Davies, CEO and Founder of Wealth Club says: "Charlie is a well-known and highly regarded fund manager, who has spent over 10 years at Hargreaves Lansdown - five of these years managing almost half a billion pounds of assets for clients. In his role Charlie will be responsible for implementing and managing a new discretionary share portfolio for our clients, providing a long-term investment horizon of at least five years, with 15-20 shares handpicked from across the globe. His investment style embraces common sense and simplicity, cutting out market noise and focusing on the management and culture of an organization."
Fine.
'There's more!'
Uh.
"Charlie will also be able to provide analysis and commentary across a broad range of subjects including comment on financial markets and company research for use by the media."
And me. 'Us.' Me. 'Us!' Us, yes, us. Us. Whatever.
Right. We're going to finish off with some words from the great man himself. 'David Goggins? Yippee!' What?! 'David Goggins.' No. 'Oh, you mean ... our Elon??? Surely not?!' I mean, Charlie, our Charlie. Charlie Huggins. 'Oh.'
FFS.
Charlie Huggins, Head of Equities at Wealth Club says: "I'm delighted to be given the opportunity to launch this new service for Wealth Club, an enormously exciting and fast-growing business."
Thanks, Charlie! Good luck with everything! / But, uh ... no endorsement, obviously, because I don't understand a thing about finance after fifteen years of writing about it. Ha, ha, ha!
ENDS
"I've spent much of the last decade managing funds and analysing fund managers. While there are some brilliant funds out there, most are a diluted version of what I think a portfolio should look like, with too many positions and numerous restrictions. Moreover, the mindset of the investment industry tends to be horribly short term. This makes investing a game of guessing which shares will go up over the next 3, 6 and 12 months, rather than focusing on long-term business prospects."
Okay. Thanks, Charlie!
ENDS
"It's these sorts of restrictions and behaviours I'm compelled to avoid. It's why I joined Wealth Club. Here I have freedom to invest in the best opportunities, wherever they may be, combined with the ability to think and act long-term."
Yes, thank you, Charlie.
ENDS
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"The portfolio will be highly concentrated. I'm looking for 15-20 companies, with great business models and cultures, where I have a high degree of confidence in the long-term prospects. I'll then invest my own and our founder's money alongside clients."
Jesus!!! This guy's unbelievable!!!
Get your own blog, son!
Er ...
'Has he finished?'
The service is subject to receiving updated regulatory permissions from the FCA.
Well, that's the ENDS of it now. Thank God!
ENDS
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