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Not that impressed with heir holdings so far. Too much weight on US tech shares , nothing i can see on gas and environment related shares.
For me the key issue is Woodford started a new organisation to develop his funds possibly leaving key staff behind. Terry brought his organisation together then developed his products with Fundsmith as the first product and then slowly developed the trusts.
If the NAV is ignored and possible shenanigans of those who can help drive the share price wouldn't a more than moderate decline below IPO suggest that the Woodford factor (cult of personality rather than realistic holders) is in play. I read many posts across numerous forums when Woodford launched and far too many treated Woodford's trust as a dead certainty rather than a brand new venture with all the attached risk and many then turned on him when the share price didn't behave as his funds did in the good old days.
I suppose also there is a part of me that thinks that if a buy and hold approach is adopted rather than active management then surely it is akin to a tracker with a basket of shares but maybe should have lower charges.
I appreciate the "buy and hold" of Smith is very different to the Woodford trust.
Still not too long to wait to discover the holdings and I am looking for a possible buy in point when the share price settles.It will be interesting to see the share price in 3 years.
I would not be surprised if the sp goes under the ipo price. We really need to see the investments they have made so far !!!
I'm inclined to agree about the profit taking as it is very tempting if you got the £10 ipo price.
I bailed on woodford with around 20% profit and wish I could have gotten more at ipo,but I never believed woodford would hold above ipo price as felt most bought in on his reputation rather than the gamble that appears to be most of his investments,which is a shame.
I am sure it is a safe bet that most investors bought in due to his fundsmith success and I'll also bet that many will feel disappointed if they start making comparisons over the next 2/3 years as the investment environment seems to be less upward and more sideways currently,but of course no investments have been disclosed as yet only hints in the factsheet.
Personally, I want to buy in and hope it does provide stable returns.
apparently....
"The top 10 will be disclosed at the end of the month on the factsheet
The full portfolio is disclosed twice a year (as it is with the Fundsmith Equity Fund) as at 31st December and 30th June in the Report and Accounts"
Only normal profit taking , after all almost 8 % in 3 weeks is not bad is it ? Regarding the comparison with Woodforfd, lets see what the initial investments are and then we see. The fact that SSON will be a more international fund makes it a lot more appealing to me !
Woodford is very different, his focus includes non-stock markets shares and long term investments in a wide range of markets. Terry focuses on businesses with repeat orders, the toothpaste products of the world, the chewing tobacco, etc. Very specifically different and with a strong team he has built up over time.
I think it's just moving with the market volatility, no escaping that atm..
I don't see the comparison to Woodford myself... Woodford is more contrarian and took higher risk with the likes of biotech and very early stage tech punts (see ALM). I don't see Smithson becoming as exposed on that tip.
I wonder if now that it is finding its true value or what the investors are willing to consider its value there will be more profit takers in case it heads too far south.
I guess that if there are similarities between woodford and this share it will show within the next 3-6 months.
Like woodford, I'm going to say that it will take a drop below ipo price to find out who is really looking at this over 5 years or maybe longer.
Interesting to see where the money is going especially after the fact sheet hints.
yep, I read that the first fund factsheet will be published 30/11
No , first report on holdings on 30/11.
I believe, 'cos I read it on the internet which never lies, that the holdings will be announced as at 31st Dec... so looks we'll know what we have in the new year.
I seem to remember the prospectus saying they would be splashing the cash straight after IPO ... timing the market is not in the mix with Terry's approach so very fortunate to have been dripping 800m right into the dip... provided it remains 'the dip'.
NAV as of today 1005. So he must have invested in something. Still a premium of 7% is nice to have.
"I am one with the Terry" omm
I've known Terry slightly from afar for the last 25 years or so ever since he a gave a presentation on my MBA course. When he launched Fundsmith I admit to going-all-in (well 10%) as one of his first investors and my bank balance has been grateful ever since. Since then Terry has been kind enough to take me out to supper and his staff chat every so often but with nothing more exciting than his annual material to guide them.
FEET always had a sniff of "unlikely" as I knew his views about BRICS countries and low and behold he was investing in BRICS companies, so when it hit 25% up I dropped out which worked fine.
I feel this venture is more likely to succeed as his target is more akin to the Fundsmith deal but focusing at the mid-market range where niches are still available in consumer repeat businesses.
Unlike other great stock investors the good thing Terry does is he invests in good staff to do the work and he has a plan for when he retires and finally dies which includes his shares transferring over to his staff over a prelonged period. Forward planning which others should follow.
Yes, have to agree the timing was very good with the drop. If it sustains a price above IPO I think I'll dip my toe and leave it for a few years.
5 % gain in 2 weeks in the middle of a very negative market with no holdings that we know yet , i would say is very good. He could not have picked a better time to come in as many world wide equities now are showing a 25-30% lower price that from the recent highs. So as long as he picks the right shares, i expect a very significant increase in the sp.
Does anyone think that this is similar to the Woodford rise on the back of his personality or will Smiths buy 'em cheap and wait stance work and sustain the sp.
Aside from the emerging market fund he has never been tested in a falling market so presumably holding the companies will also mean following them down.
I cancelled my IPO application for £25,000 and although it looks good so far just wondered what others thoughts were.
Well FEET did nicely especially as I sold out at 1250, but I hope the choice of first world market places will offer a bit more stability. Good luck to all
I'm holding off buying until I see what investments they have made. They said that will only take a week, so not long to wait.
Yep, Good Luck everyone !
Better to be buying now than in recent weeks no ?
how comes?
Bon voyage... launch timing may well have played out nicely,