Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I beat the index consistently. Although the index is the one supplied by freetrade I didn't choose it myself. Its the FTSE ALL WORLD ETF (£VWRL).
I am guessing but I would say I have 25% in frontier markets. Bank of Georgia (up 68% since April) Georgia Capital up 8% since April but on 60% discount and a couple of Vietnam investment trusts.
I managed to beat the index by NOT buy dogs like FEET. It has been poor right from day one. I have watched it but never saw anything good about it.
On the other hand I bought Smithson during the crash was and i emphasise was up 126% on this before the rotation still up 45% ish.
So for those who want to beat the index all you need is.....Luck.
I will have to beat the index for more than 2.5 years 5 at least before I can remove the word luck.
Reading the RNS it looks like TS is trying to put a positive spin on this - i.e. aren't we great deciding to liquidate this fund- positive return since 2014 etc..
If I learned anything from this dog of a fund it's that active management rarely works despite the big names with their (supposedly) superior insights and angles . Much better to stick to index trackers and a few individual large caps.
I'll be sending my invoice to Terry for this bit of high quality strategic advice...........
They might as well wind it up.....and return the NAV discount to long suffering holders.
This funds value has barely remained static over the last five years. I finally sold my shares at a small loss after holding for a number of years. Trading volumes are very low and there is no sign of the NAV discount reducing.
with the nature of the shareholdings and a 10-12% NAV discount it's probably a low risk source of diversification/ reasonable return
Well, at least we have had a far better performance in the last six months.
Lets hope it continues and can match or exceed the other funds from the same stable.
Well after 3.5 years, I have finally given up and sold out.
Bought in at 1180p and sold at 965p - taking an 18.7% loss.
I think that I can do better with the money myself, especially with so many cheap shares to buy out there, at this time.
Good luck to anybody still holding.
We now know the answer, or least on today's closing price.
About 10% below net asset value by my reckoning. This should surely be ripe for a move up.
This in a bull market!!.
More than a year since Terry bought in, and the sp is 10p lower.
More to the point the sp is 60p lower than when I bought in, nearly three years ago, but I have received a generous 2p per share dividend!
Still should be grateful that I did not invest in a Woodford fund.
Terry has passed control of this fund to two of his deputies, according to the Daily Mail.
Good to see him putting a bit more skin in the game. I'd like to think he knows something we don't, and that we'll see improvement in the sp over the coming months.
Just spotted the 29th Oct RNS.
Terry Smith has bought 50,000 shares at £10.80. That over half a million quid!
About time he put his hand in his pocket and bought some shares.
Perhaps he has been stung by some of our criticism?
I would hope the bottom has been and gone at 1055 on 12th Oct.
The sp is nearly one pound higher today, but still less than I paid for them over two years back!
can the bottom,be in sight.
I totally agree. I read various notes when they launched Smithson. Each was quite to priase the performance of the main fund but not a bloody word about the emerging market fund. I've been invested in the fund since launch and after costs have yet to see a return. It's getting quite frustratiing.
Terry has just successfully launched his new Smithson Investment Trust. The analysts were all very positive about the new fund, praising his past performance and citing his Fundsmith Equity fund (up 309% since launch in 2010 against 157% for the MSCI World index). For some reason they completely failed to mention his Fundsmith Emerging Equity Trust (FEET), despite it being it being more like the new fund global small companies fund. I wonder why?
I bought some FEET shares in Aug 2016 at a price of 1180p.
They are now trading at 1055, that is an 11% loss over 26 months.
Funny that no one has mentioned this other fund!
PS In April 2015 I bought Fundsmith Equity. this one has given me a 60% gain over the past 24 months. It's a Fund that has a heavy N.American bias so I may decide to sell out in 2018. But first I want to see how Trumps Corp Tax reduction has to play out. This could see as much as $4 Trillion dollars repatriated to the US, a one off tax grab of circa $700 Billion dollars. However after that he may experience a backlash from his more impoverished supporters. Anyway as far as FE and FEET are concerned I am waiting to see what the New Year brings for the US and Indian economies, best of luck to all in 2018
Still, nice steady upticks at the moment, Terry's argument was that there must be some opportunity in the non Western world and so he went looking for companies that were partial subsidieries/JVs of Western companies operating behind some sort of moat, though he maintains that the BRICS are still to be generally avoided. He has a lot of his money in the deal and so I've stuck with it and happily up 20% now. TS's deals are ones to invest in and tuck away. I don't think Terry pounces, more of a research and steady eddy ever since I've known him (25 years now).
Agreed they are volatile, I was fortunate to buy in April 2016 and have experienced the ups and downs but currently show a gain of 26%. Now doubt this will move up and down as the months pass but in the medium/long term I believe, given Terry Smiths track record and skin in the game, it will be up.
Well in the end I bought two modest tranches in Oct and Nov at an average of 1140p, when there was a discount to NAV of 1-4%. Decided the OCF was worth it and could come down as the assets grow and/or new shares are issued. From back of fag packet calculations I think we are this moment trading at a premium of around 3% and I've seen a gain of about 13% already. The underlying assets - if you track them - are clearly volatile but very promising.
This should hold value better than most in a market collapse.
If you read what Terry has said about ETFs tracking the EM indices and how the trust varies vastly in comparison to the composition of other EM funds/trusts, it is unsurprising. If you are not willing to tolerate underperformance in any given period, I would suggest Fundsmith is not for you! I am considering whether to buy in now as a long-term investment (15+ years), especially given the shares are now on a small discount to NAV. My only hesitation is the fairly high OCF.