The Lemon Fool

DavidM13 wrote:

BullDog wrote:

monabri wrote:Not that long ago, SMT was sub £5.

You piqued my interest. Around 4th quarter-ish 2019 in fact, it seems to me.

It was 465.28p at one stage intraday during March 2020. I know this as a piled in at this price which was lower than the lowest price it finished at all year.

I record prices weekly on Friday evenings and the lowest price in March 2020 I have is on 20 March when it closed at £5.195 so you must have caught it at its very lowest point, probably during that week. Great timing! The last record I have of SMT closing below £5 was 19 October 2019 when it closed at £4.795.

Dod

Dod101 wrote:

DavidM13 wrote:

BullDog wrote:

monabri wrote:Not that long ago, SMT was sub £5.

You piqued my interest. Around 4th quarter-ish 2019 in fact, it seems to me.

It was 465.28p at one stage intraday during March 2020. I know this as a piled in at this price which was lower than the lowest price it finished at all year.

I record prices weekly on Friday evenings and the lowest price in March 2020 I have is on 20 March when it closed at £5.195 so you must have caught it at its very lowest point, probably during that week. Great timing! The last record I have of SMT closing below £5 was 19 October 2019 when it closed at £4.795.

Dod

I just checked. It was 18th March around 11am. It was some seriously good (lucky) timing!

Lootman wrote:

monabri wrote:Not that long ago, SMT was sub £5.

I cannot recall exactly when I bought SMT but I have 3,000 shares with a cost basis of £4,217.

So at that point, maybe a dozen or so years ago, SMT traded at about £1.40 each!

I assume that's taking into account the share split in mid-2014?

My average buy price is 1.53 from 2013. I had sold out of City of London as I felt my HYP covered that area, and was looking for something different to the other 3 ITs I had in my Sipp. Someone on TMF, I can't remember who but I'm sure it was a French-sounding username, suggested SMT.

It's sat as the 4th IT in my Sipp ever since, with very occasional trimmings as it's gone overweight on the percentages I set, the last in July last year, when it had got to twice overweight. Although it's underweight now, the other 3 ITs are all overweight, so I won't top up.

torata

torata wrote:

Lootman wrote:

monabri wrote:Not that long ago, SMT was sub £5.

I cannot recall exactly when I bought SMT but I have 3,000 shares with a cost basis of £4,217.

So at that point, maybe a dozen or so years ago, SMT traded at about £1.40 each!

I assume that's taking into account the share split in mid-2014?

3,000 is the size of the current holding, not the original purchase, so yes. The cost basis is the monetary amount of the original purchase as I have not made any subsequent trades.

It is in a taxable account and if the share price remains depressed by April then this will be a candidate for a bed-and-ISA type transaction, and paying the CGT.

Scottish Mortgage Investment Trust has written down the value of its stakes in some of the world’s most highly rated private companies, including the owner of TikTok, by £200 million.

Analysts at Jefferies have tracked partial numbers given by the FTSE 100 technology investment powerhouse to estimate that it has taken a hit on 25 of its private investments of an average of 9.1 per cent — and they say there will be more red ink to come.

https://www.thetimes.co.uk/article/d08b ... 8f965f17cf

richfool wrote:Scottish Mortgage Investment Trust has written down the value of its stakes in some of the world’s most highly rated private companies, including the owner of TikTok, by £200 million.

Analysts at Jefferies have tracked partial numbers given by the FTSE 100 technology investment powerhouse to estimate that it has taken a hit on 25 of its private investments of an average of 9.1 per cent — and they say there will be more red ink to come.

https://www.thetimes.co.uk/article/d08b ... 8f965f17cf

As you say there may be more to come, but £200 million is a drop in the ocean for Scottish Mortgage and just think what has happened to the quoted shares in recent weeks. You cannot expect private companies to be immune.

Dod

DavidM13 wrote:

Dod101 wrote:

DavidM13 wrote:

BullDog wrote:

monabri wrote:Not that long ago, SMT was sub £5.

You piqued my interest. Around 4th quarter-ish 2019 in fact, it seems to me.

It was 465.28p at one stage intraday during March 2020. I know this as a piled in at this price which was lower than the lowest price it finished at all year.

I record prices weekly on Friday evenings and the lowest price in March 2020 I have is on 20 March when it closed at £5.195 so you must have caught it at its very lowest point, probably during that week. Great timing! The last record I have of SMT closing below £5 was 19 October 2019 when it closed at £4.795.

Dod

I just checked. It was 18th March around 11am. It was some seriously good (lucky) timing!

Let us know when you next buy in

On 18 March 2020 SMT closed at 468.40 with a net asset value of 516.57. This is a discount of about 9.3%.

On 4 November 2021 SMT closed at 1543.50 with a net asset value of 1482.84. This is a premium of about 4.1%.

Is the time to buy is when the shares trade at a discount and the time to sell is when the shares trade at a premium?

Neutrino wrote:On 18 March 2020 SMT closed at 468.40 with a net asset value of 516.57. This is a discount of about 9.3%.

On 4 November 2021 SMT closed at 1543.50 with a net asset value of 1482.84. This is a premium of about 4.1%.

Is the time to buy is when the shares trade at a discount and the time to sell is when the shares trade at a premium?

Maybe intended as a rhetorical question, but I think the answer has got to be yes, but not without checking the share price I think. A premium will normally indicate that the shares are in favour and that will usually increase demand and the share proice. The same happens in reverse.

Dod

Neutrino wrote:On 18 March 2020 SMT closed at 468.40 with a net asset value of 516.57. This is a discount of about 9.3%.

On 4 November 2021 SMT closed at 1543.50 with a net asset value of 1482.84. This is a premium of about 4.1%.

Is the time to buy is when the shares trade at a discount and the time to sell is when the shares trade at a premium?

But on 9 April 2020 SMT closed at 606 with a net asset value of 580. This is a premium of about 4.48%, so sell, right?

You've picked a low and high and conveniently ignored any swings of the discount/premium in-between those two dates!

If only it were so simple ... https://www.theaic.co.uk/companydata/0P00008ZPP/performance

This is looking more and more like tech bust 2.0, in which case SMT will be hit harder than most. I would ignore the premium/discount to NAV. In a bull market it can be an opportune entry point; in a bear market it is just a bull trap.

With the SMT share price now around £8.31 and a discount to NAV of 5.88% I would not see it as a screaming buy even although it is not far off its low for the last year. I am not in the market to buy anyway and we all know that this is a share whose other name could be volatility. I am happy to have taken profits during its meteoric rise in 2020. All meteors came back to earth.

Maybe others are being a bit hard on the poster. Re premiums/discounts, I think a better and a more helpful way to look at the matter is if you are looking to sell, sell at a premium all other things being equal and if you are looking to buy, try to avoid buying at a premium.

Dod

Dod101 wrote: All meteors came back to earth.

Dod

Meteors don't come from earth

OhNoNotimAgain wrote:

Dod101 wrote: All meteors came back to earth.

Dod

Meteors don't come from earth

OK smarty. You know what I mean.

Dod

Dod101 wrote:OK smarty. You know what I mean.

Dod

OhNoNotimAgain wrote:

Dod101 wrote:OK smarty. You know what I mean.

Dod

Having just re-watched some of Red Dwarf, I can just imagine this conversation!

Steve

Here's the latest on SMT.

https://citywire.com/investment-trust-insider/news/scottish-mortgage-slumps-46-since-november-as-it-cuts-private-equity-values-again/a2381668?re=95116&ea=1498852&utm_source=BulkEmail_Investment+Trust+Insider+Weekend&utm_medium=BulkEmail_Investment+Trust+Insider+Weekend&utm_campaign=BulkEmail_Investment+Trust+Insider+Weekend

Down 46% since it's November peak according to the article.

Regards, Newroad

OhNoNotimAgain wrote:

Dod101 wrote: All meteors came back to earth.

Dod

Meteors don't come from earth

And it's meteorites that hit the earth...

torata

I'll bite.

"And it's meteorites that hit the earth... "

torata

No it isn't. Research!

https://solarsystem.nasa.gov/asteroids- ... Abody_type

.

going even further off topic.

my old caravan is called a METEOR .

but i am really quite interested in SMT ..