Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
I watched the youtube video. Very interesting but very much like any other fund manager's videos really. The general message is always that you need to measure over long periods of time and ignore short term etc. Basically they earn money by taking a slice of the total value of the fund/trust
bear in mind that this trust is just over 3 years old and originally issued at £10 so even at today's low price it's 54% up on the IPO and it's trading at a discount. What concerns me is that it has fallen by about the same amount as SMT in 2022 and SMT is a normally much more volatile beast with lots of unquoted stuff in it..
"When normality returns" One thing I have learned in 45 years of investing is that there is no "normality". We seem to stumble from one upset to the next. Even in the last few years we have had unusually low interest rates then Brexit, then Covid and now The Ukraine. A lot of investors talk about keeping a percentage of their wealth in cash for the next "correction" but they never see them coming. There is of course the trusted old adage of "buy on the sound of cannon fire and sell on the sound of bells". Good luck everyone
I am a lot more than £4k down on SMT . The problem is that a lot of the investments they make are in pre IPO companies so that selling down these assets is very difficult. It's actually more like a VC fund. I made the mistake of letting my stake in SMT grow to about 14% of my portfolio when in reality I should have top sliced it to around 5%. It's currently down to about 7.5% but I am loath to sell at the current price.
I bought some more DGE yesterday and then saw this Sushma message. I queried it with Interactive Investor and they said that it was a glitch on their system and not to worry.
Reported in FT last night
SoftBank’s $66bn sale of UK-based chip business Arm to Nvidia collapsed on Monday after regulators in the US, UK and EU raised serious concerns about its effects on competition in the global semiconductor industry,
SSON seems to be issuing a lot of equity. I assume that this is a good thing to manage the premium/discount but how does it help existing shareholders?.
Just thinking about the fact that SMT has been around for 112 years and today it's largely known as a tech fund investing like a venture capital company. I wonder what it invested in during earlier periods like the 1920's and whether the style has changed over the decades as the investment landscape changed? for Tesla and Musk read Henry Ford perhaps?
Yes I listened to the Webinar and it was the usual stuff about the potential for massive growth as long as you take a long term view. It's the same with all fund managers, their main motivation is inflows as the bigger the fund the bigger their take so selling the long term story is what it's all about. Not a mention of the huge drop in share price over the past few months. But at least they are starting to do more foreign trips so that's nice.
I was lucky and dumped Woodford in 2016 basically because his performance was flat. I originally had about £100k in Invesco when he was their star fund manager. He left to start his own company in 2014 so I put £50k with him and left the other £50k behind. Things were OK for a year or so and then his performance flattened so I sold out, luckily near the peak in 2016 and put it in Fundsmith. A bit later on I pulled out of Invesco too as they were also going nowhere and put that in Fundsmith. I now have about £500k in FS and I know it's too much but it keeps on delivering and I stopped adding to it a few years ago.
I have been investing long enough to have learned three things.
1 Fund managers always talk about a rosy future for their sector with exciting opportunities etc
2. They also talk about long timescales.
3. Their main motivation is inflows.
I can't say I blame them otherwise we wouldn't invest in their funds but my success over the years has been to hook onto the coat tails of star managers such as Antony Bolton, Buxton, Neil Woodford (yes for a while), Nick Train, Terry Smith etc and jumping ship when things start to look wobbly. For me despite my current £90k stake in SMT and £10K in BG LTGG BG is on the wobble list and I am reducing my exposure slightly.
I have been investing for 45 years and now aged 73 built up a £1m ISA portfolio. I must say that these jam tomorrow messages of 5+ year timescales from BG are wearing a bit thin. Measured from 01/01/21 all of my BG investments are underwater. Luckily I got out of most of them early (eg EWI is now down 40%). The only stars in my portfolio over this period are Fundsmith, SSON, BUT, Blue Whale, S&P500 ETF and Rathbone GG. I have said this before but a lot of BG performance in 2020 was due to a lucky bet on Tesla. I still have £90k of SMT but it's getting too volatile for me having lost nearly 15% since Jan 1st. Luckily I don't need the portfolio as I have good pension income so I can hang on in there. Good luck everyone and hold your nerve. :)
I tend to agree, last year I had a BG America, BG Glob Disc, BG LTGG, BGCG and SMT. Towards the end of 2021 I pulled out of everything except BG LTGG and SMT and had started offloading SMT but obviously not fast enough as I still have £115k in there. So far in 2022 SMT is my worst performer and has lost over 14% and my portfolio as a whole is down 10%. My best performers at the moment are BUT (only down 1%) and Fundsmith down 8%
Compared with a lot of forums the people on this one (SMT) seem to be a lot more active. So I was wondering what other Investment Trusts you people are holding at the moment ? In my case currently SMT, SSON, BUT, IUSA (S&P500)