Pit blaming Huhne as portfolio takes hit and FTSE slides 100 points

Our 'Beat The Bank' portfolio took a huge hit today as the FTSE fell 100 points after the highs of last week. But whilst the overall picture is bad news for today, there were one or two rays of light. But let's stick with the bad at the moment. Here's a snapshot -

Amongst the losers the pick has to be Aberdeen Asset Management who lost 5.22 points which equates to £10. Their latest profit in Pit's portfolio is now +127, whereas two weeks ago it had climbed to +160. And the other bad news story is that Talvivaar is continuing to leak points. They have had to postpone production and temporarily put workers on hold due to circumstances and this is obviously hitting investors faith. This share alone is losing me around £30.

Vodafone was introduced last week and so it is way too early to be judging that, but there is some good news in Elementis who is now only losing us £15. Mytrah as well has seen a gain of 5 pts today and are now trading at only -£12, one of only three companies in the portfolio who I've issued £2pp (per point).

So the overall picture is +£118.26 at this point. Now, after some declines last week and a terrible day today, I'd expect the FTSE to start rebuilding its position toward the latter part of the week. Aberdeen Asset Management, which has been our golden goose, could be the one to spur us upwards. And Pit has been very encouraged at the Elementis gains and particularly Mytrah who have underperformed for ages. A huge concern is Talvivaar who may hit a stop point sometime soon.