#437803
Postby Humeau » August 27th, 2021, 1:48 pm
Hi Mark,
In answer to your question, by cloning, I mean buying what some of these investors have bought recently, not accessing their funds directly.
The latest example being Amadeus, which I know that Dorsey bought mostly in Q4 last year, and I doubt given the size of his holding that he paid less than it has been recently. In fact, I'd judge he bought at an average higher price than it is today. The fact that Terry Smith was mightily pissed off by Amadeus, when not informed of their discounted share sale last Spring, and still holds, (2.3% of portfolio), despite its underperformance over recent years. My conclusion after further research is that this moaty business is most likely to get more profitable and reward shareholders accordingly over the longer term.
I hope this helps.
H.