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John Phelps's portfolio

A TIMELY reality check last week as the majority of our share tips suffered in a general stock-market downturn: three portfolios gave up a chunk of recent gains.

Much of the reversal occurred within hours of our boast last Sunday that the value of our portfolios was at a record high.

The one consolation was a return to growth for our flagship 2009 portfolio, which benefited from a rise in shares of industrial services group, Diploma, ahead of next month's results, and gains by cash-and-carry operator, Booker.

The 2012 picks saw a near-3% fall in total value, with profit-taking on Aberdeen Asset Management shares and Scottish Gas group, Centrica, hit by uncertainties over Government energy-sector plans.

The AAM reversal also hit the 2010 list, which was down by 2.5% by Wednesday. It suffered more damage from a sharp drop in the value of Moodiesburn sausage-skin maker Devro after it warned of lower-than-expected profits.

The 2011 portfolio was more resilient, with no big fallers. It was still down a little over 1% on the week.

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