Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #141  
Old 18.12.2020, 13:36
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,376
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
Just bought 20k worth at 666(!).

It's fallen 13% in a week despite an increase in NAV of c. 0.5%
Looks like used to trade at a discount till around May, 12 month average premium 1.33 v 8.66 today
Reply With Quote
  #142  
Old 18.12.2020, 13:57
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
Looks like used to trade at a discount till around May, 12 month average premium 1.33 v 8.66 today
8.66?

Yesterday's NAV is 647 according to BG website, i paid 666.

That's more like 3%.

HLs Premium calculations are never right for some reason. I think they presume the last few days in share price changes is reflected in the underlying NAV - which in this case isn't true.

I actually want to hold this long term but there was such a silly premium earlier in the year (c. 20%) I've had to sell and rebuy twice. Normally I won't do this kind of thing.

Last edited by HickvonFrick; 18.12.2020 at 14:07.
Reply With Quote
  #143  
Old 18.12.2020, 14:09
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,376
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
8.66?

Yesterday's NAV is 647 according to BG website, i paid 666.

That's more like 3%.

HLs Premium calculations are never right for some reason. I think they presume the last few days in share price changes is reflected in the underlying NAV - which in this case isn't true.

I actually want to hold this long term but there was such a silly premium earlier in the year (c. 20%) I've had to sell and rebuy twice. Normally I won't do this kind of thing.
8.66%discount shown earlier on Hargreaves Lansdown, now 8.76%
Attached Thumbnails
equity-portfolio-advice-screenshot-2020-12-18-13.08.00.png  
Reply With Quote
  #144  
Old 18.12.2020, 14:13
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
8.66%discount shown earlier on Hargreaves Lansdown, now 8.76%
But it shows a similar NAV to what I quoted above - a NAV which is inconsistent with the listed premium.
Reply With Quote
This user would like to thank HickvonFrick for this useful post:
  #145  
Old 18.12.2020, 14:20
Forum Veteran
 
Join Date: Mar 2010
Location: Greater ZŁrich Area
Posts: 996
Groaned at 130 Times in 81 Posts
Thanked 812 Times in 433 Posts
EPMike has a reputation beyond reputeEPMike has a reputation beyond reputeEPMike has a reputation beyond reputeEPMike has a reputation beyond repute
Re: Equity Portfolio Advice

Thanks Phil. You just gave the perfect example why I avoid index trackers. They are forced to buy high and sell low.

Quote:
View Post
I don't think index funds drive price discovery, if anything, they perhaps muddy the waters. Just look at Tesla. In a couple of weeks, TSLA will join the S&P 500 triggering a likely $70+bn of trades to re-balance. Trackers will be forced to buy Tesla AND be forced to sell everything else to make room for this. Perhaps some traders play this already bidding up the price to dump after inclusion. Sure, there's probably enough liquidity to handle it all. But they are not selling the other stocks because there's something wrong with them or they analysed them to be bad. They are just mechanically re-balancing. In the end it is all just noise, but with valuations at highs, it doesn't bode well for returns. At least the large indicies have size/quality in their favour. I have more concerns with broad small cap trackers.

In the end, tracker vs stock-picking is a question of why buy everything when you can buy just the good companies. the critical assumption is can you really identify the good companies to make stock-picking work? indexing may yet prove to be the 'right way'. but i'm not yet convinced of that. we might know better in a couple of decades.



i'd consider how strong is your stomach and how you would react/feel had you held your proposed asset allocation in March when everthing tanked.
Reply With Quote
The following 2 users would like to thank EPMike for this useful post:
  #146  
Old 18.12.2020, 15:29
Senior Member
 
Join Date: Nov 2020
Location: Basel
Posts: 410
Groaned at 24 Times in 13 Posts
Thanked 661 Times in 265 Posts
Polymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
Just bought 20k worth at 666(!).

It's fallen 13% in a week despite an increase in NAV of c. 0.5%
You sound exuberant
Reply With Quote
  #147  
Old 18.12.2020, 15:31
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
You sound exuberant
I wanted to increase my stake - surprised that I got it at that premium. Id still like another 15-20k worth within the next few months and we will see if that is possible.

I had quite a bit (40k or so) but totally exited earlier in the year at c. 750 due to an excessive premium. I'd like to rebuild to that kind of position

The Trust seems too small to cope with demand for the shares this year.
Reply With Quote
  #148  
Old 18.12.2020, 15:36
Senior Member
 
Join Date: Nov 2020
Location: Basel
Posts: 410
Groaned at 24 Times in 13 Posts
Thanked 661 Times in 265 Posts
Polymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
I wanted to increase my stake - surprised that I got it at that premium. Id still like another 15-20k worth within the next few months and we will see if that is possible.

The Trust seems too small to cope with demand for the shares at present.
Maybe I will dip my toe in once Iíve had chance to do some research - hoping to have more free time over the Christmas period.
Reply With Quote
  #149  
Old 18.12.2020, 15:42
Senior Member
 
Join Date: Nov 2020
Location: Basel
Posts: 410
Groaned at 24 Times in 13 Posts
Thanked 661 Times in 265 Posts
Polymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond repute
Re: Equity Portfolio Advice

One thing that struck me about Baillie Gifford though is their list of funds reads like one of those never ending restaurant menus that you often see at so-called tourist traps. I didnít know where to begin when I first logged on to their site.

Thatís one thing I like about FS/SSON, itís quite a simple offering. Often the best dining experiences begin with a menu consisting of a small handful of carefully conceived dishes, not an endless list of concoctions looking to please any and every taste.
Reply With Quote
The following 2 users would like to thank Polymath for this useful post:
  #150  
Old 18.12.2020, 16:01
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
One thing that struck me about Baillie Gifford though is their list of funds reads like one of those never ending restaurant menus that you often see at so-called tourist traps. I didn’t know where to begin when I first logged on to their site.

That’s one thing I like about FS/SSON, it’s quite a simple offering. Often the best dining experiences begin with a menu consisting of a small handful of carefully conceived dishes, not an endless list of concoctions looking to please any and every taste.
A bit like an Indian restaurant where the curry base is the same, and they add a slightly different mix of spices to call it a Vindaloo / Madras / Jalfrezi / Bhuna or whatever!

My mum insists on buying pretty much all of them for "diversification" which I find faintly amusing. She's been buying some for me too as she tries to slowly deplete her capital - so I hold more of the funds that I would ideally like to. If it was up to me I'd hold SMT, EWI, PHI and possibly the Chinese one too. As it is, I'm in a joint management situation.

PHI is actually very different to most other BG funds - not built around the Tesla, Amazon, Ocado, Illumina etc. curry base! Hence why I really want to build a position. Either the premium stays low, and I can gradually build up that position, or it rockets again and I make another small profit. Happy either way really.

Last edited by HickvonFrick; 18.12.2020 at 16:26.
Reply With Quote
  #151  
Old 18.12.2020, 18:16
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Equity Portfolio Advice

Amusingly PHI has gone up 3.6% from the morning (when I bought) to the afternoon.

As Terry Smith says - better to be lucky than good.

Last edited by HickvonFrick; 18.12.2020 at 18:32.
Reply With Quote
  #152  
Old 18.12.2020, 19:57
Senior Member
 
Join Date: Nov 2020
Location: Basel
Posts: 410
Groaned at 24 Times in 13 Posts
Thanked 661 Times in 265 Posts
Polymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
The impact of a discount/premium whether for a trust or an individual stock depends on the nature of the company. For a high growth company, paying a 30% discount may mean you paid one year of growth. For a low growth value stock, it may take 10 years to recover that overpayment. So you really need to know what you are doing with those companies as it is much less forgiving of mistakes.
I assume here you mean premium.

Over in the FEET thread you mentioned that you were only able to build up 2/3 of your desired position due to the price no longer being attractive. This would imply that at today's prices you don't view it as a favourable proposition despite the discount to NAV which seems to conflict with HickvonFrick's view.
Reply With Quote
  #153  
Old 18.12.2020, 20:22
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 14,777
Groaned at 284 Times in 189 Posts
Thanked 18,667 Times in 7,843 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
I assume here you mean premium.

Over in the FEET thread you mentioned that you were only able to build up 2/3 of your desired position due to the price no longer being attractive. This would imply that at today's prices you don't view it as a favourable proposition despite the discount to NAV which seems to conflict with HickvonFrick's view.
I had my buy limit set too low so it didn't trigger. I haven't really looked at it since (and anyway am not too focussed on NAV vs price). I'm actually leveraged long, so looking to sell parts of my portfolio to deleverage, rather than looking to buy more.
Reply With Quote
  #154  
Old 29.12.2020, 18:47
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
8.66?

Yesterday's NAV is 647 according to BG website, i paid 666.

That's more like 3%.

HLs Premium calculations are never right for some reason. I think they presume the last few days in share price changes is reflected in the underlying NAV - which in this case isn't true.

I actually want to hold this long term but there was such a silly premium earlier in the year (c. 20%) I've had to sell and rebuy twice. Normally I won't do this kind of thing.
Sold yet again at 750
Reply With Quote
The following 2 users would like to thank HickvonFrick for this useful post:
  #155  
Old 30.12.2020, 10:20
Senior Member
 
Join Date: Nov 2020
Location: Basel
Posts: 410
Groaned at 24 Times in 13 Posts
Thanked 661 Times in 265 Posts
Polymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
Sold yet again at 750
So youíre a trader now
Reply With Quote
The following 2 users would like to thank Polymath for this useful post:
  #156  
Old 04.01.2021, 18:55
Senior Member
 
Join Date: Nov 2020
Location: Basel
Posts: 410
Groaned at 24 Times in 13 Posts
Thanked 661 Times in 265 Posts
Polymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond reputePolymath has a reputation beyond repute
Re: Equity Portfolio Advice

Happy new year everyone!

I reconsidered my strategy slightly and consolidated my holdings with the sale of all index ETFs today. Sold at or near to ATHs.

FS and BRK.B will now form the minority of my portfolio (essentially replacing the index part). The majority for now will be SSON. As my financial acumen improves I hope to contribute new money to individual stocks and/ or other equity funds/ trusts.

I wish you all a prosperous new year and look forward to continuing the discussion in this thread
Reply With Quote
The following 3 users would like to thank Polymath for this useful post:
  #157  
Old 04.01.2021, 19:40
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
Happy new year everyone!

I reconsidered my strategy slightly and consolidated my holdings with the sale of all index ETFs today. Sold at or near to ATHs.

FS and BRK.B will now form the minority of my portfolio (essentially replacing the index part). The majority for now will be SSON. As my financial acumen improves I hope to contribute new money to individual stocks and/ or other equity funds/ trusts.

I wish you all a prosperous new year and look forward to continuing the discussion in this thread
I'm pilling into SSON too. Hope to have 6 figures in it by the end of the year (I'm only 32 so a lot for me). Perhaps a bit into FEET too.
Reply With Quote
  #158  
Old 04.01.2021, 20:00
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
So you’re a trader now
There seems to be nothing easier than tracking rapidly oscillating premiums on this investment trust. Seems to be almost free cash. Maybe sold a bit early this time, but was a really obvious 10% profit (nothing huge - a few thousand CHF) in days.
Reply With Quote
  #159  
Old 04.01.2021, 20:03
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 21,376
Groaned at 461 Times in 352 Posts
Thanked 23,091 Times in 11,824 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
I'm pilling into SSON too. Hope to have 6 figures in it by the end of the year (I'm only 32 so a lot for me). Perhaps a bit into FEET too.
Hopefully it will continue to compound at 25%, you should hit 7 figures in your early 40's.
I wish I had had 100k in Smithson 26 years ago, at 25% compound I would be wealthier than I am today!
Reply With Quote
The following 2 users would like to thank fatmanfilms for this useful post:
  #160  
Old 04.01.2021, 20:06
Forum Legend
 
Join Date: Jul 2020
Location: Frick, Aargau
Posts: 2,876
Groaned at 63 Times in 51 Posts
Thanked 4,070 Times in 1,901 Posts
HickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond reputeHickvonFrick has a reputation beyond repute
Re: Equity Portfolio Advice

Quote:
View Post
Hopefully it will continue to compound at 25%, you should hit 7 figures in your early 40's.
I wish I had had 100k in Smithson 26 years ago, at 25% compound I would be wealthier than I am today!
You mean to say that you have less than £33 million?

Peasant!

Incidentally my 1 year old daughter has £4K in SSON. If that makes 25% a year by your age she'd have £1.3 billion. Its in a lifetime ISA so she can't withdraw it until 2080! I'll report back on its performance as a then 91 year old

Granted I don't expect to be worth anywhere near that much, but a figure in the tens of millions would not be unrealistic. Its hard to get your head around compound interest in years of that scale.
Reply With Quote
This user would like to thank HickvonFrick for this useful post:
Reply

Tags
fundsmith, investing, smithson, stocks




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Equity Transfer of house sale in UK to CHF ballum Finance/banking/taxation 25 17.08.2018 00:17
Tax on equity earnings SarcasmXXL Finance/banking/taxation 23 31.10.2017 09:29
Anyone in Venture Capital or Private Equity? stamplover Business & entrepreneur 0 05.08.2015 20:43
Releasing equity in UK to buy an appartment in Switzerland Chester Housing in general 4 19.04.2007 20:03
Equity Investing - The DIY Route hbunny Finance/banking/taxation 3 10.12.2006 21:38


All times are GMT +2. The time now is 16:17.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0