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Agreed with all of that LLL. Agreed generally on the fund manager front also, but I have noted a slight upward gear shift in confidence and although as cynical as yourself, do believe that such investment is worthy. I also still (rather simplistically) have faith that tech will recover and always (generally) ascend.
Agreed totally re the height of Nov 21. We knew there would be a downside then, but not quite such a collection of circumstances so as to reduce it to where it now sits.
It was overinflated as seen as a safe haven for predictable profits, and so it fell very badly when the returns window was shot into the far distance.
I didn't sell anything, and although I'm disappointed that I didn't have the proverbial crystal ball before the price became free fall, I am nevertheless philosophical.
I've invested in tech for 30 years and done very well indeed and so cannot complain. I agree it will be years before the high of the past is re attained, but do have the confidence to hold out and that technology will likely be worth at least more than it is today before all that long.
I find holding and retaining the faith in the spread if AICs more comforting than reacting and diversifying, because (as you so rightly say) things have a way of evolving, and my experiences of selling along with the herd have cost me probably more often and more deeply than simply holding.

I agree with this, possibly.
There are also boom times for all things. In terms of SMT the single most factor reflecting it's overall considered current worth (which is as we have seen a shifting entity) is the high inflationary status the world finds itself in.
Of course this is effected somewhat by the Ukraine situation, but there are a great many factors.
Considering the futures of at least the greater part of SMT's investments, they all look unlikely to me to change in that inovation will continue to be necessary and sought after be it hard times or good.
The shocking aggression shown by Russia has galvanised the world and shifted values & comfort zones to the extent that tech will likely find new profitable avenues in addition to the necessity of developing the old.
In short world volatility (at least to my mind) produces zero negativity as goes the intrinsic value of technology.
I am no rocket scientist and certainly not up to some of the whizzkids on here who make investing a science, but have invested in technology for long enough to understand the security it gives to the long term investor. Sure, if you bought in before Nov 21 you would have gotten your **** bitten (my sympathies there), but I do think (very generally) we have popped down as far as is likely given the oft visited low that that's been reached many times over the last year.
There is positivity ahead, and that will inevitably mean an improvement in values.
As I wrote this I see all tech AICs are displaying a NAV at around 12% discount, which to me is pretty unprecedented. The market behaviour also strikes me as shark like buying up by long term thinkers (those who just know these will be worth a lot more before all that long).
There are increasing upward swings of this type following what I consider surprising low points..
I also note in the financial press more and more tech fund managers defending their stances to buy into innovative concerns in their conviction that things will turn.
If they are prepared to pop their heads over the trench edge right now given their livelihood and survivability depends on it, then I'm happy to sit in their pocket.
Purely a generalistic opinion from me as always, but always eager to learn and listen to nuances or even opposing views :)

Interesting concerning the continuing unbridled volatility still as concerns SMT and other tech investments. Given positive UK and US inflationary outlooks and the general opinion that technology will rebound on the back of halved inflation forecasts for the coming year (albeit not return to prior popularity), I'm interested to other members thoughts around this.
Light is indeed at the end of the tunnel I feel, but it is perhaps too far away still given the various factors (plus a significant proportion aof all investors always playing last minute for what they perceive that quick buck)?
As those who have read anything I've put on here in the past, I tend to hold SMT come what may and rely on little market savvy other than my conviction that a sustained rally will occur.
The Ukraine war is of course a variable.
It will be interesting to hear now when minds far greater than my own believe this might be.

Exactly.

I think the best advice as usual with SMT is whether you wish to invest for a profit long term or short term?
The driver of these poor times for SMT is basically high inflation (meaning future profits are considered to be likely diminished by the time the tech ideas being developed with the fund appear on anyone's table).
Fair enough.. Everyone rode the tech bandwagon when it was in favour pre Nov 21, and although it won't reach the level of value before that time in a hurry, I do predict a time (as people begin to even get a hint that world inflation is being cured.. as it will be) that it will make money (and probably fairly quickly as everyone jumps back onto the bandwagon)... Catching a rising knife is as difficult as one falling...
I personally have never sold any of these since purchasing a great many years ago (or any of my tech concerns). Sure, I took a big hit since Nov 21, but then still work out my holdings in all of it to be worth around £30k more than they were pre pandemic..
You have to be logical as what goes up also comes down...
Having said that I do (as ever) sympathise with those having bought just before the big drop, although my advice to them would also be to hold on...
The world is now in no doubt as to the ruck it is in and on that basis the negativity we see in the markets is entirely understandable. I view this phase as being in the dark part of the tunnel, but when the light appears (or when investors begin to even sense light at the end of the tunnel) I see no other eventuality than a significant buy in.
Its definitely a simplistic outlook, but I think it's fairly logical..
I'm sure others on here will add some nuances...

In short.
The OP can hopefully listen to all advice on here or discard it. My personal belief is that all written here is perfectly valid and worthy of consideration. The thread has acknowledged the fact of life that is individual investment styles and strategies.
Please don't think I consider your advice not great advice, Robleo. It is very good advice.
It is maybe not even inconceivable that the OP may decide to actually combine our advice (which is sort of what I was trying to get at)..
Either use the cash from the 60% sold assets to buy into the concerns you cite and allow 40% remainder SMT to remain invested, or if she has already earmarked the 60%, then maybe to wait for some recovery then sell the remainder then invest that sum as you advise?
Of course it is all about individual strategy, but do people come on here to listen to individual ideas and strategies in developing their own?
Well, yes...
They actually do!

Hi Robleo.
As you will see I agreed with your advice in the first line of my last post. My other comments there were trying to simply underline considerations that the OP may or may not have wished to take on board (much the same as anyone's advice including yours)?
It is always important to balance risk according to individual ability to absorb it.
I guess this forum exists because people wish to read differing approaches and (above all) to absorb the benefits of advice, of which yours is included.
My last post was offered in what I believe personally was in the best interest of the OP, which is not to sell the remainder of her holdings just yet. Not when the reason for its recent fall is one that has nothing to do with the quality of the assets in the AIC, not whilst the nav is sitting at such a big discount, and not whilst it is generally (now) holding generally pretty well despite the full horror of the inflationary period dawning upon the world.
My point (and it is my point and no one's other) is that I believe the only way generally for SMT at this point it is up. I could be wrong, but the OP needs to hear my opinion as she hears yours.
We either keep our opinion, knowledge and ideas quiet on this forum (ie no forum) or we add in our individual ideas and have clarified that everyone has their own strategy.
Perhaps by allowing and listening to all points of view and not attempting to strangle individual ones is the way up :)

Balanced post Robleo (always right to balance risk soundly), but I would say a couple of things in addition. I can't remember the number of individual "nests" within SMT off the top of my head, but seem to recall 53 differing concerns.. That's a lot of separate nest eggs.
The other point I have is that regardless of their acumen and ability, the concerns within SMT have been hit as squarely as anything else tech related, but not for their individual quality as concerns, but universally due to their short term profitability being shot down by the spectre of high inflation. Tech just ain't popular right now...
Given that SMT is a loosely tech based aic, then the management decisions may still be excellent despite losses. The management decisions of this team in the past have always been sound, and I personally believe will continue to be.
The security a collective concern fund managed by people whose jobs and future lie on performance to focus their minds has always appealed to me.
Think the number of concerns within SMT as the belt, and the management as the braces.
SMT would have lost as soundly as a other tech related concerns down to inflation had they even had the allseeing Lord almighty in the management team :)

I also have to agree with a previous post that the discount to nav at present does make SMT a good purchase option at the moment. The fact that this discount exists at such a high level really also underlines the unpopularity of tech right now, which is all of course down to inflation (but inflation WILL improve).
That all may sound too simple to be the truth, but I believe it enough to leave my life investments riding on it (even if it takes as long as a decade for them to sustain an creditable upturn). I have a very modest NHS pension to help me towards this in 2 years time.. I am lucky in that.
As a recent purchase Soulsister you have been unfortunate, and sometimes in life you just have to play safe or stay within the parameters of your individual circumstances, and on that basis I am completely with you :)

Understood Soulsister. As stated, all situations differ..
I do hope you hold the rest as the crux of recovery is simply the control of inflation which just has to arrive given time.
I see the world in a right mess right now, but exactly because of that see the accompanying requirement of change, invention, technology and solutions as being absolutely paramount and more important than ever.
It may take some time for them to recover, but I totally believe they will.
I bought tech many years ago on the basis that mankind never goes backwards but always forward in terms of technological development, and apart from the dot com bubble can still identify no point in the Nasdaq that belies this.
Things did get a bit silly during COVID as everyone piled money into tech seeing it as a safe haven. I could have sold the lot when prices started to drop, but was unable (like many others) to work out when the rout would end.
Every time in the past that I have sold on the flow of the herd I have regretted it, and so have a "buy for life and drawdown from it only what I need to live on" mentality . I of course know that this isn't everyone's approach or even possible for many. Watching prices tumble (and potentially your livelihood isn't easy).
As I have stated for months on here, that inflationary light will be visible in the middle of the tunnel at some time in the future, and then we will hopefully enjoy an upwards trend that mimics in reverse that which we have all just suffered. I do believe that we will do so taking all factors into account, and I hope that you do too.
I hope that you have an enjoyable retirement :)

Thinking about it, I have lost one third of my investment value so far I tech since November. I am waiting long term because I have to Soulsister. (It now isn't enough to retire as is)).
It was a disappointment but taken philosophically.
I've invested in SMT for over 30 years. Those having invested more recently (and I bought a lot before the fall in addition) I am sympathetic with. Really I am.

Ps. If anyone loses money on here I am the first to sympathise with that. Totally. The point of being in here is to support each other. I wish well to everyone here.

Can you expand on that Soulsister. BB?
Are you being objective or personal?
I'm absolutely not sure what you mean.
Money is only lost or gained when an asset is sold .
I'm 90% confident to my own strategy of holding (because I can and am happy to do so), but I also comfortable in this.
I am genuinely surprised at your clear bitterness and criticism as absolutely no one was sniping at you.
I consider myself a better person than that.
Had I been unable to go back to work I would be drawing down on my deflated funds and taking the hit, so absolutely understand the need for people to take their own individual routes.
You said you are "So Glad" you sold at an upper point in pricing yesterday. You are free to state that and free to do so as I haven't a blue clue as to your strategy or personal situation.
You could also be right in doing so, as the only outright certainty in life is death, whereas inflation correcting only has a likelihood of happening because it's absolutely in everyone's best interests.
I (conversely) feel the "so glad" that I did not sell, but hey... Choices....

Soulsister...
Who is criticising who exactly?
I absolutely criticised no one.
I had retired when the tech drops came and rather than take the outright loss whilst drawing down on deflated assets decided to go back and work, and not just any old place but back to the COVID in intensive care.
That was my choice, as I stated those selling at a time of their personal choosing is always theirs.
Everyone has their own requirements and priorities and I wish you luck with whatever you choose to do.
The point however of this discussion forum (to the best of my understanding) is for people invested in SMT to draw on each others knowledge, strategy and experience.
Do you wish people only to accept that they should sell or should have sold just recently, as you have done so?
Are we no longer democratic here?
Please continue to publish your own thoughts here, but please don't also make unquantified and irritable comments assuming that to suggest a contrary strategy to your own is personal.
It isn't.
Peace and best wishes.

Captain Picard. 100% agreed. It is emotional driven, but it is also driven by impetuosity (those "dynamic" investors all trying to catch hold of falling knives).
Many seek immediate gratification and profit via the markets, which really isn't the easiest task but is possible.
Having sold tech yesterday in light of American inflationary pessimism they will be the first to buy in again when inflationary fears lessen or quell.
Given that this is a given, I would rather eat my hat than sell any tech related concerns right now.

Captain Picard... Exactly.
It is down to people's emotions plus short term investors trying to wring out maximum profit from their investment bundles by flogging something that although they know will go up again in the future isn't doing it for them right now..
You are right in understanding that the financial institutions that hold our investments for us love and encourage buying and selling for the fees associated.
It is a big factor in how the media sensationalises their financial stories ...
Where there is money in it their is always someone to stir the stick...
Despite the losses yesterday (and possibly today as others rush out of the doors in panic), tech is still in volatile recovery.
My belief is that it will recover quite a bit sooner than the actual point that world inflation gets under control, as all it takes is for that eventuality to begin or to be in sight for investors who know the profitability of tech and associated concerns.

All down to inflation (fears associated and panicky ditching). Everyone has individual reasons for their trading actions, but what goes down must go up given that inflation is temporary and decent tech AICs are worth every penny right now.
I'm holding every cent in all of my tech concerns as I'm looking at 2 years from now plus (even 5 to 10 if necessary).
Massive losses today as punters ditch and slam into stuff that will profit them more quickly given the immediate future (and SMT didn't do as badly as some of my other stuff).
I see no reason to budge, but each to their own :)

Renewed pessimism 24 hours ago following the federal bank in the US stating further interest rate rises will be necessary to quell inflation.
We are back in the middle of the tunnel for tech (the light at the end of it pushed further back) and punters are selling it again to buy stocks they consider will make a shorter term return.
Values will return when inflation is under control, but then I predict a rebound once the savvy spot the bargain that it is (but at what point it will drop to this time is difficult to say).
Same old, and I'm not stressing.

Agreed feasible, LLL, but has never been an option as goes my personal strategy and I long ago made the decision to invest with SMT plus other tech & health concerns, holding then only selling when I retire or need the cash. Even despite the losses I incurred over the last 9 months I am still well ahead comparative to the low point prior to COVID.
I find that this has served me really well over the past 30 years, & has led to a personal profit of over 1000%.
No doubt there are ways to refine this strategy, but that (and sleeping well at night) mean more to me.
I guess I am an inactive investor as all the advice on high inflation was "hold some tech and diversify your portfolio". I did nothing apart from philosophically go back to work and although I don't think we will see the ridiculous highs of 9 months ago (we obviously knew it was overinflated), I am happy with the likelihood that up is the general direction of play for them right now.
I guess right or wrong, Smt amongst a few others has never seemed an in and out trading concern to me, but more of a slow burning far better than average profit machine.
I suppose we will all have our individual attitudes to it, although can justify no reason for me to change my personal strategy especially right now. No one is in any doubt as to the direction of travel re high inflation right now, and the current slow upward trend (following the shock a few days ago down to renewed fed hawkishness) shows some market opinion that inflationary recovery is not at least an "if", but a "when".
My best wishes to all as goes their individual strategies, however.

Yep. Exactly JK. Same thing as usual and totally representative of a pessimism that will correct to optimism in tech as soon as inflation reverts globally... Which it will.
The light at the end of the tunnel has been pushed further back again and those impatient and more interested in short term profits than long have jumped ship temporarily. Even before inflation wanes, and that glimmer of light appears again the types who have jumped off will jump on again.
On that basis and on the basis that the recent pluses we have experienced has to be repeated as inflation cures, my advice to all is don't be a ship jumper as in my opinion, at especially this stage of the game re-catching the knife correctly stands at pretty low odds.