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John Phelps's portfolio

Our share tips suffered a torrid time last week, with three out of our four portfolios recording overall losses when we carried out our review of progress on Wednesday.

The one exception was the 2014 list, which was fractionally ahead as gains by engineer Ricardo and recently-floated TSB cancelled out another dire performance by Marks & Spencer. Most of the M&S setback was of its own making as investors dumped the shares following its latest dismal trading update, although the British Retail Consortium added to the misery with mid-week news of falling prices throughout the UK's high streets.

We will join the sellers if the price slips a few more pence to our published stop/loss target.

Other shares suffered in a global stock market retreat sparked by fears of higher US interest rates and a slowdown in Chinese growth, while news of a downturn in UK factory production during May added to the unease.

The 2013 portfolio was the biggest casualty, down 2.1% as Lloyds Banking Group and Perth-based Stagecoach suffered an additional hit from Labour Party plans to boost competition in the transport and banking sector. Jewellery giant Signet was caught up in a general markdown of retailing shares.

The 2012 selections gave up most of the gains seen the previous week, with a 1.4% slip for Greene King putting it in danger of triggering a "sell" signal despite news of stronger profits.

The overall market trend meant our decision to add packaging group DS Smith and cash-and-carry specialist Booker to the 2011 list backfired, both ending their first week with hefty losses.

We are still convinced their shares are ripe for a recovery, but their performance dragged down the overall portfolio 1.5%.

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