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Fundsmith

Closed-end funds and OEICs
ADrunkenMarcus
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Re: Fundsmith

#437759

Postby ADrunkenMarcus » August 27th, 2021, 9:54 am

Humeau wrote:I like Smith's straight taking and consistent approach, his clear explanations and the fact that what he says all too often turns out to be true. The fact that he achieved 14+% returns over 6-7 years with Tullet Prebon's pension fund through the financial crash and 18% in over a decade since starting his own fund is all that really matters.

He is open about his mistakes and his reliance on Julian Robbins's analysis. I also suspect he has the nous to leave the fund in good hands, when he eventually stops running it, and has made some good moves in that direction..


Agree entirely!

I don't think Smith is cocky, either - just confident (and usually correct).

Humeau wrote:I trust to profit from investing in his fund and cloning what he, and the likes of Pat Dorsey, Stephen Yiu and the guys at Polen Capital, do.


I'd like to be able to acess Pat Dorsey or Polen Capital as a UK investor. I think there are problems with USA UTICs. :(

Best wishes


Mark.

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Re: Fundsmith

#437803

Postby Humeau » August 27th, 2021, 1:48 pm

Hi Mark,

In answer to your question, by cloning, I mean buying what some of these investors have bought recently, not accessing their funds directly.

The latest example being Amadeus, which I know that Dorsey bought mostly in Q4 last year, and I doubt given the size of his holding that he paid less than it has been recently. In fact, I'd judge he bought at an average higher price than it is today. The fact that Terry Smith was mightily pissed off by Amadeus, when not informed of their discounted share sale last Spring, and still holds, (2.3% of portfolio), despite its underperformance over recent years. My conclusion after further research is that this moaty business is most likely to get more profitable and reward shareholders accordingly over the longer term.

I hope this helps.

H.

ADrunkenMarcus
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Re: Fundsmith

#437928

Postby ADrunkenMarcus » August 27th, 2021, 10:34 pm

Thank you.

I have to admit I sometimes scan a few fund managers' portfolios as a basis for researching shares to hold directly!

Best wishes

Mark.

simoan
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Re: Fundsmith

#441888

Postby simoan » September 13th, 2021, 2:30 pm

Hurrah! Finally, a modern, fast website with improved security and a wider range of on-line investment options. About time for a £28bn fund!!

All the best, Si

xeny
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Re: Fundsmith

#442137

Postby xeny » September 14th, 2021, 12:55 pm

simoan wrote:Hurrah! Finally, a modern, fast website with improved security and a wider range of on-line investment options. About time for a £28bn fund!!


If only they hadn't lost the day from the fund factsheet page's top table. Makes it hard at a glance to know if the values have updated that day.

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Re: Fundsmith

#442409

Postby Backache » September 15th, 2021, 9:49 am

xeny wrote:
simoan wrote:Hurrah! Finally, a modern, fast website with improved security and a wider range of on-line investment options. About time for a £28bn fund!!


If only they hadn't lost the day from the fund factsheet page's top table. Makes it hard at a glance to know if the values have updated that day.

Seems to be there for me :?

xeny
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Re: Fundsmith

#442413

Postby xeny » September 15th, 2021, 10:03 am

Backache wrote:Seems to be there for me :?


Day or date? For me it now says "Price Data 14th September 2021" . It used to say something like "Price Data Wednesday 14th September 2021"

Backache
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Re: Fundsmith

#442415

Postby Backache » September 15th, 2021, 10:11 am

xeny wrote:
Backache wrote:Seems to be there for me :?


Day or date? For me it now says "Price Data 14th September 2021" . It used to say something like "Price Data Wednesday 14th September 2021"

Ah got you, must admit I lose track of both and always check on the top of my screen if looking at a date or day.

crazypanda
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Re: Fundsmith

#442805

Postby crazypanda » September 16th, 2021, 6:48 pm

Anyone have an idea what Fundsmiths new holding is? I thought it strange that in the July factsheet it said that they were adding a new position but no mention of it, or even that they were still accumulating it in the August factsheet?…

Backache
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Re: Fundsmith

#443259

Postby Backache » September 18th, 2021, 10:56 am

crazypanda wrote:Anyone have an idea what Fundsmiths new holding is? I thought it strange that in the July factsheet it said that they were adding a new position but no mention of it, or even that they were still accumulating it in the August factsheet?…

Possibly Coloplast?
I don't recall it being mentioned before.

Aminatidi
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Re: Fundsmith

#443261

Postby Aminatidi » September 18th, 2021, 10:58 am

The latest semi-annual report is here.

https://www.fundsmith.eu/media/rerduews ... e-2021.pdf

crazypanda
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Re: Fundsmith

#443922

Postby crazypanda » September 20th, 2021, 7:51 pm

Backache wrote:
crazypanda wrote:Anyone have an idea what Fundsmiths new holding is? I thought it strange that in the July factsheet it said that they were adding a new position but no mention of it, or even that they were still accumulating it in the August factsheet?…

Possibly Coloplast?
I don't recall it being mentioned before.


I think they have owned Coloplast for a couple of years now but not a much talked talked about position….

ADrunkenMarcus
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Re: Fundsmith

#443923

Postby ADrunkenMarcus » September 20th, 2021, 7:52 pm

crazypanda wrote:I think they have owned Coloplast for a couple of years now but not a much talked talked about position….


It is not glamorous!

Best wishes

Mark.

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Re: Fundsmith

#443933

Postby crazypanda » September 20th, 2021, 8:41 pm

ADrunkenMarcus wrote:
crazypanda wrote:I think they have owned Coloplast for a couple of years now but not a much talked talked about position….


It is not glamorous!

Best wishes

Mark.


No too true!

monabri
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Re: Fundsmith

#443958

Postby monabri » September 20th, 2021, 10:25 pm

crazypanda wrote:
ADrunkenMarcus wrote:
crazypanda wrote:I think they have owned Coloplast for a couple of years now but not a much talked talked about position….


It is not glamorous!

Best wishes

Mark.


No too true!


But they give free samples... :?

https://www.coloplast.co.uk/products/?u ... lsrc=aw.ds

flyer61
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Re: Fundsmith

#444062

Postby flyer61 » September 21st, 2021, 10:24 am

Had wondered about Clorox.....


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