Derek Pain: 'If I need to drown my sorrows, at least I'll have shares in the Eclectic Bar Group'

The shares of the trendy bar chain have joined at 58.5p, around their all-time low

I'm starting the new year with an addition to the No Pain, No Gain portfolio. As indicated last month, shares in Eclectic Bar Group have now been embraced, taking membership above "unlucky 13".

The shares of the trendy bar chain have joined at 58.5p, around their all-time low; the group has clearly been a disappointment since flotation at 160p. But I hope prospects are about to change following the arrival of serial entrepreneur Luke Johnson, who has gathered an 18.5 per cent stake.

There are indications that unsuccessful bars will be closed and acquisitions are likely in the coming months. Mr Johnson runs and is a major shareholder in Patisserie, the most successful of my 2015 inclusions – the shares, recruited at 285.8p, are now above 400p. But there is a world of difference between the two companies, with Eclectic down in the dumps after recording a £5.8m loss last year. It is a case of the Johnson magic still awaited.

I do not expect Patisserie shares to maintain their rate of progress this year, although I am confident they will make further headway.

What of the year ahead for the markets? I hesitate to make predictions; my record here is far from exhilarating, with so many wrong calls. Yet almost every alleged expert and share follower (I put myself in the latter category) attempts a guess, and this time the vast majority of forecasts that have come my way have been decidedly bearish.

There is no doubt shares face a multitude of problems, with signs that the world's economy is under-performing. As a result, many commentators have suggested that the FTSE 100 will, at best, hover around 6,000 points.

In April the Footsie hit a peak above 7,100. Its earlier record was achieved at Christmas 1999, when it reached around 6,950 thanks to dotcom mania. There is no reason for investors to anticipate such a long wait before a new record is set.

But will it be this year? I have a sneaking suspicion that the Footsie might astonish the bears. Nothing dramatic, mind you – perhaps it could just about top 7,200, a level I thought could be achieved last year.

The stock market is not just about Footsie, and perhaps some other portfolio selections will come into their own.

SnackTime, the vending machine group, should also come out of suspension soon; it has almost completed its complex financing. The group should be in a position to publish its yearly report for the year to last March, so satisfying AIM rules.

I hope this will be the last time SnackTime endures such difficulties, and with the support of Russian tycoon Boris Belotserkovsky, the group should be able to progress.