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SMT made a new yearly high today, the NAV is rising, the discount is narrowing, the price has broken out above a rising 50 day and 200 day moving average.
VEry true about the discount to NAV. I see they also bought back stock. I wonder if the managers are kicking themselves for not buying more at 700p.
Tambo210 - over the years there have been fairly regular buy backs.
Some at prices much higher than today's. Others, over the past year, when the price was at the low £6 to low £7 mark.
LLL - For sure..But I'm sure BG would have waited for the lower prices to buyback if they put new batteries in their crystal ball.
ANyway, positive and certainly going into 2024, this is definitely a one to hold given the chatter of cutting FED funds rate.
Tambo210 - agreed.
Oh, and as I’ve been VERY good all year, could you please send me one of those crystal balls you mention for Christmas?!
New yearly high again today
Yes Tambo, looking at 3 year chart, it's a hold or sell 10% to mobilise some cash, we should have bought at £6 back then, but it's an act of faith to buy low!
Good day good day good day
Moderna knocked down the portfolio to 7th place
That is good.
I am going to watch the SMT Share Price through January and start another small position albeit not 30 percent as previous, more like 5-10%.
I am glad that the portfolio weights have been rebalanced.
I have not looked at SMT since I sold out prematurely a few weeks ago.
Typical novice-inpatient investor here!!
Have a great New Year and a successful one at that.
Relative position of holdings may reflect that particular share’s current price weakness/strength. Rather than SMT having added or reduced their stake in it.
Anyone know which is chiefly responsible for MRNA’s fall in the rankings?
Wishing all SMT’s long term holders a happy & healthy 2024, whatever the markets may throw at us!
Good day Mr Americano, you will have sold at a low, and buying at a high, happy new year..
Mr Stock SR
Not really, ...the proceeds went into my S&p 500 fund in November which saw some nice gains..let's call it de-risking.
MrAmericano - I think Misty would tell you it’s only de-risking if you don’t buy back in at a higher price than the one you exited at a few months earlier.
Whilst your S&P 500 fund may have made up some/all of the money lost by exiting SMT when you did, if you buy back in now you’re taking on the previous risk all over again. And potentially from a higher base cost.
Best of luck anyhow. But my advice would be to reinvest in SMT only if you intend sticking with the majority of your holding there for some time (i.e. several years rather than months).
Hello Mr LLL
I hope you had a Happy Christmas..
It's funny isn't it? Part of my reason for selling early was the high conviction stake in Moderna, something I raised as a question at the investors Q&As a few months back. I certainly admit that I have probably missed the proverbial boat on this one now, and I am actually going to take your sound advice LLL. I am still a novice investor, learning all the time. Misty's tail is still wagging, and she's happy with my decision(s).
Thank you for the friendly correspondence and good luck to you all in 2024.
MrAmericano - yes, a good Christmas thanks. I hope everyone here enjoyed their festivities.
Only time will tell whether now’s a good time to add / buy back into SMT. I’ve done some averaging down here over the years. I think if you follow a fund closely, it is possible to sense when it might be slightly overbought/sold. You’re very unlikely to get the timing spot on. But - with a fair wind - there can still be a big enough window to make something out of it. That’s been my experience with SMT anyway.
So I’d never say SMT is a tuck-away-&-forget-for-years type of investment. But I do think any core holding is best viewed as a reasonably long term commitment.
Happy New Year everyone!
Today:
Moderna’s shares surged 15.5 per cent after investment bank Oppenheimer upgraded its stock in anticipation of new product launches in the next 12 to 18 months.
Dear Mr Fresh
If there is another sector rotation this year out of technology and into healthcare then Moderna should do well. It's price is attractively positioned.
To my mind, there’s a degree of correlation between the tech & healthcare sectors.
So I don’t see Moderna’s fortunes being dependent on any sector rotation from technology.
I missed my chance to sell at 810p and switch into LGEN/MNG.....Latter is boring, but the divi is nice dependable income.
Am I mad in thinking SMT.L can reach 1200p at some point this year as chatter of rate cuts gets ever louder towards the end of 2024? I know that's 50% gain from here, but we all gotta have some dreams.!
The NAV would have to rise too which might be a stretch.
1200 is my next target, timescale depends on outside forces, but it will get there and beyond, I'm glad to be a holder right now.
Yeah, I was kinda wishing I'd set a stop loss at £8 to sell 1/3 of my holding to rebuy lower, but hindsight and all that. Happy to just hold through the volatility and not try to time the market.
Good day
Watching this sudden drop in SP closely
Best wishes
Mr A
Tambo210 - switching from SMT to LGEN/MNG would certainly be a radical move. Chalk & cheese springs to mind!
I could understand buying LGEN/MNG to help diversify a portfolio which already had SMT in it. But a full blown u-turn from one to t'other sounds like you might just be chasing your tail somewhat?
Over the past 5 years, unless you were lucky enough to time your sales & purchases almost perfectly, it's unlikely you'll have noticed a HUGE improvement in LGEN/MNG's share price. Both tend to be fairly range bound. As you say, their main attraction is the high yield. Though of course this is always liable to change (for better or worse).
I hold both MNG and SMT. MNG has been wonderful and SMT has been a disaster, but it is all about timing and luck to some extent. At least with MNG you get a decent yield even if the shares have gone down a bit and you can sit tight. With SMT there is no yield so your money is dead and can only hope for (or pray) for a big rise in share price or sell out.
Yep
Not mad but why 12 and not 10 or 14?