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Fundsmith

General discussions about growth strategies which focus primarily on investing for capital growth
absolutezero
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Re: Fundsmith

#427515

Postby absolutezero » July 13th, 2021, 10:53 pm

tjh290633 wrote:
monabri wrote:
Sorry Terry but shouldn't you include your "Oozlums" in the calculation if you are quoting a median figure?

Since you ask, these are the shares no longer held:

Sold Shares                               IRR     First Bought   Date Sold
O2 161.82% 19/11/01 20/12/01
Brit Insurance Holdings NV 129.25% 18/05/10 26/10/10
Mitchells and Butler plc 38.20% 17/04/03 10/10/06
Anglo American plc 38.04% 09/10/08 19/02/10
Intercontinental Hotels Group plc 35.51% 17/04/03 30/08/05
Energy Group 34.42% 24/02/97 05/06/98
Scottish & Newcastle plc 30.20% 10/10/06 23/11/07
Yule Catto plc 29.56% 04/04/08 28/09/10
Stagecoach Holdings plc 22.32% 21/07/99 05/03/08
Indivior plc 21.35% 23/12/14 25/06/18
Blue Circle Industries plc 20.74% 21/07/99 25/07/01
BG Group plc 15.80% 08/12/86 07/06/06
Prudential Corporation 12.45% 25/09/90 18/05/10
Hanson plc 11.75% 26/05/87 30/05/07
BOC Group plc 11.69% 26/05/87 07/06/06
Cadbury Schweppes plc 11.40% 26/05/87 04/04/08
Scottish Power plc 10.99% 18/06/98 08/02/07
Whitbread plc 10.77% 06/08/98 31/10/06
Imp.Chem.Ind.plc 10.64% 09/02/70 02/01/08
Pilkington plc 10.53% 18/01/80 07/03/06
Premier Farnell plc 10.48% 17/01/08 14/06/16
Rexam plc 10.41% 19/01/04 27/04/16
William Hill plc 9.15% 05/03/08 29/12/21
Marconi 7.67% 24/08/89 21/11/02
Tomkins plc 7.63% 31/10/06 01/10/10
Thus Group plc 7.46% 20/03/02 15/10/08
HBoS plc 4.69% 02/06/97 05/06/08
Six Continents plc, formerly Bass plc 3.86% 05/10/99 15/04/03
RSA Insurance Group plc 2.37% 21/07/99 05/03/14
Rentokil Initial plc 0.34% 07/06/06 19/02/10
ITV plc -0.51% 14/02/97 28/09/10
Northern Foods plc -2.36% 07/03/06 17/02/11
Allied Domecq plc -8.64% 21/07/99 27/07/00
Trinity Mirror plc -10.96% 23/11/07 22/10/09
British Airways plc -33.69% 21/07/99 17/01/03
DSG International plc -37.46% 24/02/06 06/05/09
Premier Foods plc -46.29% 14/12/06 19/02/10
Cattles plc -81.53% 05/06/08 16/03/11
Mapeley Ltd -88.99% 30/05/07 20/03/09
Syngenta AG -92.88% 13/11/00 23/11/00
Carillion plc -93.54% 27/04/16 25/06/18
Centrica plc -97.24% 17/02/97 06/03/97

Mean 3.27%
Median 10.45%

A lot of the holding periods are very short, a couple of weeks in the case of Centrica and O2, and any less than a year will not be correct.

One thing I love about this forum is Terry's meticulous record keeping.

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Re: Fundsmith

#427560

Postby ADrunkenMarcus » July 14th, 2021, 8:38 am

Arborbridge wrote:
ADrunkenMarcus wrote:Smithson is about 50% of my pension. While I am very happy with it, it's actually the worst performer in the portfolio as of today (last twelve months). It is a concentrated portfolio and, as such, many of its holdings are a significant proportion of my pension in their own right on a look-through basis. ...


it's actually the worst performer in the portfolio as of today (last twelve months).

Wow - it's increased 20% in the past twelve months and it's your worst! :?:


Only just - it beat DP Poland. My SIPP had a good year, though. Total return stats taken this morning from Morningstar X-ray.

Smithson (SSON) 21.09%
DP Poland (DPP) 21.53%
Spirax Sarco Engineering (SPX) 37.66%
Temple Bar (TMPL) 44.54%
Standard Life UK Smaller Cos (SLS) 46.86%
Kainos Group (KNOS) 98.68%
Evolution AB (EVO) 138.02% (purchased January 2021)

Best wishes


Mark.

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Re: Fundsmith

#427566

Postby ReallyVeryFoolish » July 14th, 2021, 9:00 am

ADrunkenMarcus wrote:
Arborbridge wrote:
ADrunkenMarcus wrote:Smithson is about 50% of my pension. While I am very happy with it, it's actually the worst performer in the portfolio as of today (last twelve months). It is a concentrated portfolio and, as such, many of its holdings are a significant proportion of my pension in their own right on a look-through basis. ...


it's actually the worst performer in the portfolio as of today (last twelve months).

Wow - it's increased 20% in the past twelve months and it's your worst! :?:


Only just - it beat DP Poland. My SIPP had a good year, though. Total return stats taken this morning from Morningstar X-ray.

Smithson (SSON) 21.09%
DP Poland (DPP) 21.53%
Spirax Sarco Engineering (SPX) 37.66%
Temple Bar (TMPL) 44.54%
Standard Life UK Smaller Cos (SLS) 46.86%
Kainos Group (KNOS) 98.68%
Evolution AB (EVO) 138.02% (purchased January 2021)

Best wishes


Mark.

Well done. Your retirement looks like arriving sooner than later!

My observation would be that for at least some of those shares, the gains are all about quite recent timing. Whereas with FS, for nearly 11 years now it's been one for the bottom drawer that just keeps delivering with little in the way of drama. I can't pick stocks like you obviously can. FS fits the bill nicely for me.

RVF

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Re: Fundsmith

#427567

Postby Arborbridge » July 14th, 2021, 9:00 am

ADrunkenMarcus wrote:
Arborbridge wrote:
ADrunkenMarcus wrote:Smithson is about 50% of my pension. While I am very happy with it, it's actually the worst performer in the portfolio as of today (last twelve months). It is a concentrated portfolio and, as such, many of its holdings are a significant proportion of my pension in their own right on a look-through basis. ...


it's actually the worst performer in the portfolio as of today (last twelve months).

Wow - it's increased 20% in the past twelve months and it's your worst! :?:


Only just - it beat DP Poland. My SIPP had a good year, though. Total return stats taken this morning from Morningstar X-ray.

Smithson (SSON) 21.09%
DP Poland (DPP) 21.53%
Spirax Sarco Engineering (SPX) 37.66%
Temple Bar (TMPL) 44.54%
Standard Life UK Smaller Cos (SLS) 46.86%
Kainos Group (KNOS) 98.68%
Evolution AB (EVO) 138.02% (purchased January 2021)

Best wishes


Mark.


You don't have many holdings quoted, so not the number of opportunities I create for myself to make bad choice :lol:

Well done. But I'm sure the observant will have noticed that TMPL has had a good bounce back only because it had a lousy drop previously. The price is only around what it was three years ago, whereas Smithson has grown 1.7x in that period.

All smoke and mirrors 8-)

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Re: Fundsmith

#427570

Postby ADrunkenMarcus » July 14th, 2021, 9:20 am

ReallyVeryFoolish wrote:My observation would be that for at least some of those shares, the gains are all about quite recent timing. Whereas with FS, for nearly 11 years now it's been one for the bottom drawer that just keeps delivering with little in the way of drama. I can't pick stocks like you obviously can. FS fits the bill nicely for me.


Yes, the trick is sustaining a high return on an ongoing basis. I'd imagine even a dreadful company might return 12% in a year due to sentiment changes in the market, yet returning 12% pa for two decades would be a challenge. And even if you chose a good share then a bad one will often cancel out the benefit, in my experience.

Arborbridge wrote:You don't have many holdings quoted, so not the number of opportunities I create for myself to make bad choice :lol:

Well done. But I'm sure the observant will have noticed that TMPL has had a good bounce back only because it had a lousy drop previously. The price is only around what it was three years ago, whereas Smithson has grown 1.7x in that period.

All smoke and mirrors 8-)


Yes and TMPL's long term performance since December 2001 is dire. I have considered chopping it on several occasions.

SSON has returned over 82% since launch in October 2018 so that thrashes TMPL and DPP for the same period.

Best wishes


Mark.


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