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A piworld interview with David Thornton

A piworld interview with David Thornton

16 October 2020

Growth Company Investor update, October 2020

David Thornton is Owner & Editor of Growth Company Investor (GCI). He tells piworld of his new ownership of GCI, updates on companies he mentioned in July, and gives an overview of those companies he’s recently interviewed, which he feels have good growth prospects.

Introduction – 00:18
What does the new ownership mean for GCI & subscribers – 00:46
David’s background – 02:35
How did David’s July 20 recommendations do? – 03:25
Venture Life (VLG), Accrol (ACRL), Codemasters (CDM), Victoria (VCP), Manolete (MANO), AFH Financial (AFHP)
Current recommendations: Gaming Realms (GMR) – 08:23
DX Group (DX.) – 14:34
Think Smart (TSL) – 19:15
IMImobile (IMO) – 27:03
Motorpoint (MOTR) – 32:11
Inspired Energy (INSE) – 35:08

Q&A – 41:10
At DX. what does the balance sheet & return on capital look like? – 41:16
IMO – who are the big competitors – 43:20
IMO – would it list in the US, if so would it leave AIM? – 44:32
VLG – Are you worried about the cash conversion? – 45:00
GMR – will it need to raise cash as it grows? – 46:35
MANO – would you cut losses or average down? – 47:53
AGFX – what’s your take on the H1 trading update? – 49:44
CDM & GMR – will you be building your positions? – 52:29
GMR – what’s the next chance of US gaming news re lockdown and Slingo – 54:25
Do you look at mid caps or larger caps? – 55:28


About David Thornton
Following an extensive career in the City David is Editor & Owner of Growth Company Investor (GCI), an excellent publication about Small Cap Shares. David, graduated 1982 and went into the City as a trainee UK equity investment analyst with an insurance company. 1985 started managing money at Br Gas pension fund. 1987-04 fund manager at Henderson. Spent 4 years doing US equities before returning to UK desk. 2006-12 launched and ran an East European fund at a hedge fund boutique (Russia, Turkey, Poland, Hungary, Greece etc). Doing these markets turned out to be good training for looking at the nether reaches of AIM which was his next job! 2013 onwards – financial journalism focused on UK small caps. Initially Redhot Penny Shares newsletter (part of MoneyWeek) and since 2015 Growth Company Investor (GCI). In September 2020 David acquired GCI from the original owners, Bonhill plc.

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