WEBINAR: Barclays dumped; Global portfolio upside 30% annualised growth

The big move this month saw Barclays PLC dumped from the Biznews Global portfolio. The reason; the board disappointed on the honesty and integrity scale of the Warren Buffett scoreboard of investing. And while the intention of the portfolio is to hold onto stocks forever, such events as described below can't go unpunished. Barclays is the second stock the portfolio has sold off, following last year's sale of Novo Nordisk shares. The move hasn't detracted from the portfolio's progress, having produced returns of 30 percent on an annualised basis, as Amazon continues to outperform. The full webinar is transcribed below. – Stuart Lowman

Welcome all to another exciting monthly update on the Global Share Portfolio. Alec is in London, giving us the outside view and I'm in South Africa, so over to you Alec, let's get cracking.

You can see how excited I am because we've gone to 30% annualised growth now over the last 28 months, which is quite an astonishing performance by our portfolio. Remembering that we always have viewed this as a long-term portfolio but let's get straight into it. The big news of this month is that we've dumped Barclays PLC. Why so? Well, as you know, those of you who have managed to read my book on investing like Warren Buffett that you take an assumption that the management of a company is honest and integrous as when you first invest in it. But if they give you any reason to believe differently, you act quickly and sharply. Well, I believe that Barclays PLC have disappointed us significantly on that score. In the past month what happened was that the Chief Executive of the company was found to have tried to hunt down a whistleblower.

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