Smithson Annual Report

[mc2fool]

Edinburgh Worldwide was reviewed in a recent IC:

https://www.investorschronicle.co.uk/news/2022/05/11/edinburgh-worldwide-a-blue-sky-fund-faces-trying-times/ for folks with (free) IC registration.
https://www.google.com/search?q=Edinburgh+Worldwide%3A+a+"blue+sky"+fund+faces+trying+times and click on first result for those that don't.

[BullDog]

A nice recent bounce at SSON (and Throgmorton too) for me where recent bottom fishing trips seem to be paying off so far. No new money available so recycling some cash into SSON (and Throgmorton) close to year lows. Certainly seems like a case of babies and bathwater here. Hopefully the bounce isn't of the dead cat variety. Given the high quality of the underlying investments, there's a chance the worst is behind us. Maybe.

[simoan]

A nice recent bounce at SSON (and Throgmorton too) for me where recent bottom fishing trips seem to be paying off so far. No new money available so recycling some cash into SSON (and Throgmorton) close to year lows. Certainly seems like a case of babies and bathwater here. Hopefully the bounce isn't of the dead cat variety. Given the high quality of the underlying investments, there's a chance the worst is behind us. Maybe.

Smithson is still at a 7% discount to NAV. I have no idea what Throgmorton is! Looks like some kind of UK Midcap IT that has a lot of gearing and over 100 holdings, thus I have no interest in it at all. I don't see the point in holding any collective investment where the manager has so little faith in their stock picking ability that they need to hold over 100 different companies.

All the best, Si

[BullDog]

A nice recent bounce at SSON (and Throgmorton too) for me where recent bottom fishing trips seem to be paying off so far. No new money available so recycling some cash into SSON (and Throgmorton) close to year lows. Certainly seems like a case of babies and bathwater here. Hopefully the bounce isn't of the dead cat variety. Given the high quality of the underlying investments, there's a chance the worst is behind us. Maybe.

Smithson is still at a 7% discount to NAV. I have no idea what Throgmorton is! Looks like some kind of UK Midcap IT that has a lot of gearing and over 100 holdings, thus I have no interest in it at all. I don't see the point in holding any collective investment where the manager has so little faith in their stock picking ability that they need to hold over 100 different companies.

All the best, Si

Thanks for your thoughts, appreciated. I entirely see your point. Where SSON, held since launch, is a probable never sell stock, Throgmorton is a more opportunistic purchase. It's a darn good job that not everyone thinks like you do though or my bottom fishing expedition wouldn't be a profitable one