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Scottish Mortgage heading for where

Closed-end funds and OEICs
Dod101
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Re: Scottish Mortgage heading for where

#482615

Postby Dod101 » February 24th, 2022, 4:34 pm

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

DavidM13
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Re: Scottish Mortgage heading for where

#482618

Postby DavidM13 » February 24th, 2022, 4:57 pm

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!

torata
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Re: Scottish Mortgage heading for where

#482673

Postby torata » February 25th, 2022, 4:55 am

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

Lootman
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Re: Scottish Mortgage heading for where

#482744

Postby Lootman » February 25th, 2022, 1:55 pm

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.

richfool
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Re: Scottish Mortgage heading for where

#484602

Postby richfool » March 5th, 2022, 9:31 pm

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

Dod101
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Re: Scottish Mortgage heading for where

#484638

Postby Dod101 » March 6th, 2022, 9:14 am

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

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Re: Scottish Mortgage heading for where

#484664

Postby UncleEbenezer » March 6th, 2022, 11:01 am

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 ;)

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Re: Scottish Mortgage heading for where

#484689

Postby Neutrino » March 6th, 2022, 12:18 pm

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?

Dod101
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Re: Scottish Mortgage heading for where

#484695

Postby Dod101 » March 6th, 2022, 12:42 pm

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

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Re: Scottish Mortgage heading for where

#484696

Postby mc2fool » March 6th, 2022, 12:49 pm

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 ... :D https://www.theaic.co.uk/companydata/0P00008ZPP/performance

vand
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Re: Scottish Mortgage heading for where

#484831

Postby vand » March 7th, 2022, 10:26 am

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.

Dod101
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Re: Scottish Mortgage heading for where

#485267

Postby Dod101 » March 9th, 2022, 6:45 am

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

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Re: Scottish Mortgage heading for where

#485320

Postby OhNoNotimAgain » March 9th, 2022, 9:30 am

Dod101 wrote: All meteors came back to earth.

Dod


Meteors don't come from earth

Dod101
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Re: Scottish Mortgage heading for where

#485448

Postby Dod101 » March 9th, 2022, 5:41 pm

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

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Re: Scottish Mortgage heading for where

#485769

Postby OhNoNotimAgain » March 11th, 2022, 9:52 am

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

Dod


:lol:

stevensfo
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Re: Scottish Mortgage heading for where

#486120

Postby stevensfo » March 12th, 2022, 3:52 pm

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

Dod


:lol:


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

Steve


torata
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Re: Scottish Mortgage heading for where

#487082

Postby torata » March 17th, 2022, 8:51 am

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... :D

torata

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Re: Scottish Mortgage heading for where

#487324

Postby chineplate » March 18th, 2022, 10:13 am

I'll bite.

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

torata

No it isn't. Research!

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

jackdaww
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Re: Scottish Mortgage heading for where

#487360

Postby jackdaww » March 18th, 2022, 12:09 pm

.

going even further off topic.

my old caravan is called a METEOR .

but i am really quite interested in SMT ..

;)


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