We found it decidedly tough going over 2014 as we struggled to steer our four investment portfolios to yet another year of above-average stock market growth.

In the event we managed it with some room to spare, with an average gain of 7.5% compared with losses of about 3% in the value of companies in the FTSE 100 share index. That is the 12th consecutive year in which our tips have beaten the Footsie, which fund managers use as a benchmark to track their performances.

But we were hugely disappointed with our latest 2014 selections, which only just managed to break even over the festive period.

And our 2011 portfolio missed its double-your-money target when it was wound up on Christmas Eve with a gain of "only" 88% despite adding some £1286 over the year.

We invest a notional £1000 in each of six shares every January and then manage this new portfolio on a weekly basis over a four-year period with the aim of doubling its value before it is liquidated.

Last year was only the fourth occasion on which we have missed this ambitious 100% growth target since we launched the portfolio service back in 2003.

Like other investors, we were wrong-footed at the start of 2014 when all the signs pointed to a bumper year on the stock market. Fortunately, we managed to avoid direct investment in the oil producers when we launched our new 2014 portfolio, although four of the six new shares were involved in the energy sector. They were: alternative energy supplier Infinis; Smart Metering Systems; energy-efficient lighting group Dialight; and pumps manufacturer IMI.

The other selections were household goods retailer Dunelm and Scottish cloud computing specialist, Iomart. All failed to last the course and were sold under our stop-loss system, where we eject any share which has fallen 10% from previous peaks.