Within that most of my accounts had a decent month with the majority of holdings going up, particularly US tech.
The 3 big fallers were:
Thungela. Problems in South Africa with both power supplies and rail. Both of these are very much out of Thungela's control and seemingly beyond the skill of the South African government to solve. So they have willing customers and a demand they cannot meet. The share price fall seems overdone to me as coal is going to be in demand for the next few years and the share price is at the point where the market seems to believe that a delayed delivery is a lost delivery, or that the DCF rate will make the eventual delivery virtually worthless when discounted back. I am less sure of this, particularly as Thungela's mines are not long horizon mines. How high does the discount rate have to be to make a cashflow in 7 years virtually worthless?
MPAC. The share price keeps falling on no news. I am unsure whether it is friendless, has a larger shareholder selling or has many smaller shareholders selling. But either way the price momentum is currently down and the company has nothing to correct it.
Tax. I paid yet more tax in January. Don't see I am getting much value from it. But it was a significant hit to the portfolio