Right then. The final part of the "How to pick a new service" series. :)
The final thing I'd like to mention is that as the portfolio has grown, I've found myself more in a situation whereby I'm looking for specific gaps to fill or for a potential new service to perform a particular function, as opposed to simply looking for a good service. I've mentioned it numerous times already, but a prime example was my joining Summer of Football, Sportyy and Form Lab Lite in June having identified a potential weakness in my portfolio; ie. a lack of turnover and diversification as a result of the majority of my football tipping services closing down for the summer. In other words, I was looking at portfolio construction from a completely different angle.
This is easier to do when you have a settled portfolio that, generally speaking, you're happy with. It's a bit like managing a football team. The team might be playing well and getting good results, but you can perhaps see that a better striker would make you an even better team and improve results still further. So as a manager, you start to look for suitable strikers playing for other teams, settle on your target, tap them up, get an arrangement in place whereby you offer the greedy bastard even more money that they can ever possibly spend, and then break the hearts of all the supporters of the team you're buying from when their star player ups and leaves citing ambition as a motive whilst conveniently forgetting that their being injured all the time contributed massively to the fact that he hadn't won any trophies in recent years.
The point I'm making is that when I got to a certain point with the portfolio, my outlook changed from simple portfolio construction to being one more concerned with balance and practicalities. This is when you look at a service, and instead of just noting the bottom line results, you instead (taking a historical proftiability for granted) look at whether or not the expertise of the service lies within areas that your current services don't already cover, or whether the service can add something new to your portfolio in some way. If it does, then you may be onto a winner.
Another decent day.
A tiny profit for Northern Monkey whose one selection finished in the frame.
A nice winner for On The Nose (Saint Thomas - Beverley - 4/1).
No success for The Market Examiner (0/1).
It was Sportyy who contributed most to the day's profit making, finding two winners from two (Raonic to bt Gasquet - 0.67/1 and Andujar to win the first set vs Tipsarevic - 4/1).
A good performance from Service X too, finding three winners from four bets.
Just one losing bet from Form Lab Lite.
Month to date figures...
Northern Monkey: Staked 25pts, -8.868pts, roi -35.47%
On The Nose: Staked 25pts, -4.775pts, roi -19.1%
The Sportsman Racing: Staked 2pts, +1.057pts, roi 52.88%
Winning Racing Tips: Staked 3.7pts, -1.741pts, roi -47.07%
The Market Examiner: Staked 18pts, -11.8pts, roi -65.55%
Total roi -19.8%
Summer Of Football: Staked 13pts, +6.204pts, roi 47.72%, ROC 31.02%
The Sportsman: Staked 0.3pts, -0.013pts, roi -4.33%, ROC -0.21%
Form Lab Lite: Staked 15.5pts, -2.145pts, roi -13.83%, ROC -4.29%
Sportyy: Staked 21pts, +10.272pts, roi 48.91%, ROC 12.84%
Service X: Staked 135.2pts, +11.953pts, roi 8.84%, ROC 11.95%
Total roi 16.66%
Grand Total roi 5.34%