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  #161  
Old 19.06.2020, 22:03
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Re: Another fundsmith question

Pleased to see Fundsmith hit it's all time high in £ by over 1%, it's the first time T accumulation units broke £5.00, The I units did briefly do so before the crash & in the last few days. Anyone who invested on the first day has over 5 times their original stake in just under 10 years
T Units £5.0695
I Units £5.1183
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  #162  
Old 29.06.2020, 00:47
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Re: Another fundsmith question

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Anyone who invested on the first day has over 5 times their original stake in just under 10 years
This is true for most of NASDAQ as well, btw.
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  #163  
Old 29.06.2020, 14:17
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Re: Another fundsmith question

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This is true for most of NASDAQ as well, btw.
However the Nasdaq 100 is considerably more risky, you have probably forgotten that in 2010 the NASDAQ 100 was still more than 50% below it's peak of 4691 24 March 2000.
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  #164  
Old 30.06.2020, 22:20
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Re: Another fundsmith question

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However the Nasdaq 100 is considerably more risky, you have probably forgotten that in 2010 the NASDAQ 100 was still more than 50% below it's peak of 4691 24 March 2000.
The question of Nasdaq100 recent performance performance is an interesting one, looking at the S&P500 V Nasdaq100 since 1972, the results are staggeringly close.

S&P 500 compounded @ 10.5% v Nasdaq100 @10.8%

Standard deviation is 16.9% v 29.2% so you are taking a hugely greater risk for your 0.3% compound advantage. I will stick with Fundsmith & Smithson

here is the article https://fourpillarfreedom.com/sp-500...dex-is-better/
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  #165  
Old 01.07.2020, 22:05
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Re: Another fundsmith question

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The question of Nasdaq100 recent performance performance is an interesting one, looking at the S&P500 V Nasdaq100 since 1972, the results are staggeringly close.

S&P 500 compounded @ 10.5% v Nasdaq100 @10.8%

Standard deviation is 16.9% v 29.2% so you are taking a hugely greater risk for your 0.3% compound advantage. I will stick with Fundsmith & Smithson

here is the article https://fourpillarfreedom.com/sp-500...dex-is-better/
somehow I believe digitisation reached a maturity where it delivers. Unlike the dot com bubble, I am convinced the tech sector will outperform the broader sector, because the broader sector relies fully on the tech sector. Take a look as TSLA. They never closed a profitable year, yet it is now the most valuable car company in the world, because it is valued as a tech company.
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  #166  
Old 04.08.2020, 15:53
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Re: Another fundsmith question

In one of the discussions SMT came up as an alternative, I looked at the performance going back to Fundsmith's inception November 2010.
Fundsmith was the winner for almost all the last 10 years, SMT has hugely outperformed in recent months due to its huge positions in Tesla & Amazon. Both companies are on huge PE's 768 & 119. This makes FS largest holding of Microsoft seem a huge bargain at 37.5

Not sure I would want to buy SMT today, in March a different story, volatility can be your friend as the member who picked up Smithson for £9.00 in March found out.
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  #167  
Old 04.08.2020, 16:21
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Re: Another fundsmith question

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In one of the discussions SMT came up as an alternative, I looked at the performance going back to Fundsmith's inception November 2010.
Fundsmith was the winner for almost all the last 10 years, SMT has hugely outperformed in recent months due to its huge positions in Tesla & Amazon. Both companies are on huge PE's 768 & 119. This makes FS largest holding of Microsoft seem a huge bargain at 37.5

Not sure I would want to buy SMT today, in March a different story, volatility can be your friend as the member who picked up Smithson for £9.00 in March found out.
Another one I really like (though I saw from another post that you don't) is Bailie Gifford Global Discovery. I know its not as concentrated as Fundsmith or SMT, but I think when you are investing in smaller companies that's no bad thing.

I've got about 60% of my money in Global Discovery or SMT, and about 20% in Fundsmith.

Fundsmith is sort of my gold. I think it'll perform better than just about anything in a bad market.
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  #168  
Old 07.08.2020, 00:51
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Re: Another fundsmith question

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Another one I really like (though I saw from another post that you don't) is Bailie Gifford Global Discovery. I know its not as concentrated as Fundsmith or SMT, but I think when you are investing in smaller companies that's no bad thing.

I've got about 60% of my money in Global Discovery or SMT, and about 20% in Fundsmith.

Fundsmith is sort of my gold. I think it'll perform better than just about anything in a bad market.
why don't you just buy the stocks that Fundsmith holds? It's the same portfolio without the mgmt fees... ?
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  #169  
Old 07.08.2020, 01:02
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Re: Another fundsmith question

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why don't you just buy the stocks that Fundsmith holds? It's the same portfolio without the mgmt fees... ?
I'm heading that way.
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  #170  
Old 07.08.2020, 20:47
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Re: Another fundsmith question

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why don't you just buy the stocks that Fundsmith holds? It's the same portfolio without the mgmt fees... ?
I held every stock, however I under performed the fund. Interestingly the Luxembourg Fund is under performing the UK fund as although the shares held are identical, the proportions are different as in flows & outflows don't match day to day, you can see this in the top 10 holdings
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  #171  
Old 08.08.2020, 22:24
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Re: Another fundsmith question

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I held every stock, however I under performed the fund. Interestingly the Luxembourg Fund is under performing the UK fund as although the shares held are identical, the proportions are different as in flows & outflows don't match day to day, you can see this in the top 10 holdings
are you saying that even though the top10 holdings will (mostly) be stable, he's flowing the money in and out of them to rebalance?

Would you be happy to put in money new to FS? We sold property abroad and I'm itching to put the money somewhere but am a bit vary of current valuation levels on most of these holdings.
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  #172  
Old 09.08.2020, 14:10
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Re: Another fundsmith question

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are you saying that even though the top10 holdings will (mostly) be stable, he's flowing the money in and out of them to rebalance?
No, the fund manager buys and sells every time someone wants his money back, or puts new money into the fund.
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  #173  
Old 09.08.2020, 17:13
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Re: Another fundsmith question

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No, the fund manager buys and sells every time someone wants his money back, or puts new money into the fund.
Fundsmith was receiving about £5 million a day in subscriptions, they add to about half of the companies in the portfolio each month, however in March there was a net outflow of £342 million so yes they do trade daily to match investments & redemptions, being a fund they cant borrow money. Over £400 million was reinvested in April
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are you saying that even though the top10 holdings will (mostly) be stable, he's flowing the money in and out of them to rebalance?

Would you be happy to put in money new to FS? We sold property abroad and I'm itching to put the money somewhere but am a bit vary of current valuation levels on most of these holdings.
For redemptions he sells what parts of the portfolio he believes is most over valued & adds the most under valued, they try to hold very little cash unless they have unloaded a position.

I have a property to sell & the proceeds will immediately go into Fundsmith & Smithson when its sold, I don't do market timing.
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  #174  
Old 10.08.2020, 18:29
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Re: Another fundsmith question

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I have a property to sell & the proceeds will immediately go into Fundsmith & Smithson when its sold, I don't do market timing.
I thought you don't do properties
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  #175  
Old 10.08.2020, 18:49
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Re: Another fundsmith question

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I thought you don't do properties
I try not to, it's a studio apartment I bought in 1999 in Chamonix, had to buy something bigger to celebrate 4 years of marriage
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  #176  
Old 10.08.2020, 20:11
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Re: Another fundsmith question

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Another one I really like (though I saw from another post that you don't) is Bailie Gifford Global Discovery. I know its not as concentrated as Fundsmith or SMT, but I think when you are investing in smaller companies that's no bad thing.

I've got about 60% of my money in Global Discovery or SMT, and about 20% in Fundsmith.

Fundsmith is sort of my gold. I think it'll perform better than just about anything in a bad market.
A small+old UK pension I have is in Bailie Gifford Global Discovery.
It's stupidly high IIRC compared to my contributions.
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  #177  
Old 17.08.2020, 10:52
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Re: Another fundsmith question

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are you saying that even though the top10 holdings will (mostly) be stable, he's flowing the money in and out of them to rebalance?

Would you be happy to put in money new to FS? We sold property abroad and I'm itching to put the money somewhere but am a bit vary of current valuation levels on most of these holdings.
I'd say FS is one of the safest places to hold your money if you think the market is in general too high.
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  #178  
Old 13.11.2020, 19:53
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Re: Another fundsmith question

As I direct investor with Fundsmith I just received a free copy of Terry's new book.
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Old 13.11.2020, 20:32
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Re: Another fundsmith question

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As I direct investor with Fundsmith I just received a free copy of Terry's new book.
I mustn't have enough invested as I haven't got one yet
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  #180  
Old 13.11.2020, 20:33
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Re: Another fundsmith question

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I mustn't have enough invested as I haven't got one yet
I assumed my wife would get one in the UK & I would not as I only have an old ISA in the UK, perhaps they also sent to Luxembourg clients.
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