https://moneyweek.com/investments/stock ... or-decades
Diageo, Heineken and RELX.
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Nick Train's 3 Great Companies (MoneyWeek interview)
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- Lemon Pip
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- Lemon Quarter
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Re: Nick Train's 3 Great Companies (MoneyWeek interview)
I notice Unilever isn’t there.
Best wishes
Mark
Best wishes
Mark
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- Lemon Half
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Re: Nick Train's 3 Great Companies (MoneyWeek interview)
ADrunkenMarcus wrote:I notice Unilever isn’t there.
Best wishes
Mark
Apart from being mentioned literally in the 3rd sentence (as a great business) you mean?
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Re: Nick Train's 3 Great Companies (MoneyWeek interview)
Hi Mark,
I don't think there is anything of concern with Unilever's omission. Nick does list Unilever, Kao Corporation (which he calls Japan's Unilever) and Walt Disney as other great companies than don't quite make hs top 3. He's been banging the drum on Unilever for so long that he might have just fancied a change (of course this could have applied to Diageo). Bit surprised Heineken is in there- thought beer was seen as not particularly attractive and think Terry Smith doesn't much like beer, saying the return on capital on beer was lower than spirits. Also would have thought Heineken might have an issue with the whole craft beer thing (although I assume that lager brands are more shielded than ale brands). I have Unilever, Diageo and RELX as my top three holdings but don't own Heineken. Part of the reason for this is I am assuming the tax treatment on most European shares dividends is quite harsh or at least a hassle to reclaim.
I don't think there is anything of concern with Unilever's omission. Nick does list Unilever, Kao Corporation (which he calls Japan's Unilever) and Walt Disney as other great companies than don't quite make hs top 3. He's been banging the drum on Unilever for so long that he might have just fancied a change (of course this could have applied to Diageo). Bit surprised Heineken is in there- thought beer was seen as not particularly attractive and think Terry Smith doesn't much like beer, saying the return on capital on beer was lower than spirits. Also would have thought Heineken might have an issue with the whole craft beer thing (although I assume that lager brands are more shielded than ale brands). I have Unilever, Diageo and RELX as my top three holdings but don't own Heineken. Part of the reason for this is I am assuming the tax treatment on most European shares dividends is quite harsh or at least a hassle to reclaim.
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Re: Nick Train's 3 Great Companies (MoneyWeek interview)
dealtn wrote:ADrunkenMarcus wrote:I notice Unilever isn’t there.
Best wishes
Mark
Apart from being mentioned literally in the 3rd sentence (as a great business) you mean?
No, I mean in the list.
Best wishes
Mark
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Re: Nick Train's 3 Great Companies (MoneyWeek interview)
KnightOfSpring wrote:Hi Mark,
I don't think there is anything of concern with Unilever's omission. Nick does list Unilever, Kao Corporation (which he calls Japan's Unilever) and Walt Disney as other great companies than don't quite make hs top 3. He's been banging the drum on Unilever for so long that he might have just fancied a change (of course this could have applied to Diageo). Bit surprised Heineken is in there- thought beer was seen as not particularly attractive and think Terry Smith doesn't much like beer, saying the return on capital on beer was lower than spirits. Also would have thought Heineken might have an issue with the whole craft beer thing (although I assume that lager brands are more shielded than ale brands). I have Unilever, Diageo and RELX as my top three holdings but don't own Heineken. Part of the reason for this is I am assuming the tax treatment on most European shares dividends is quite harsh or at least a hassle to reclaim.
He’s probably right that Diageo has somewhat stronger brand power than Unilever- I hold both.
Best wishes
Mark
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Re: Nick Train's 3 Great Companies (MoneyWeek interview)
Relx has put on a good show since 2012-ish but prior to this the price was flat. What was the catalyst that lead to the increase in ~2012?
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Re: Nick Train's 3 Great Companies (MoneyWeek interview)
monabri wrote:Relx has put on a good show since 2012-ish but prior to this the price was flat. What was the catalyst that lead to the increase in ~2012?
https://www.relx.com/~/media/Files/R/RE ... report.pdf
https://www.relx.com/~/media/Files/R/RE ... report.pdf
https://www.relx.com/~/media/Files/R/RE ... report.pdf
Not a company I know particularly well (at least since the 1980s/90s anyway), but a place to start is the company results. Interestingly in the "Chairman's Statement" no mention of share buybacks in 2011, but a section in both 2012 and 2013 about them.
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