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MarkSp
Posted: 04 January 2022 17:39:21(UTC)
#1017

Joined: 02/02/2020(UTC)
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Aminatidi;201685 wrote:
It's odd wording though.

I mean if they've exited it why is it undisclosed?

I might get it if they were still selling down but if it's been sold?
They might have it in the Sustainable portfolio or...............they haven't issued the change in holdings notice yet
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Aminatidi on 04/01/2022(UTC)
Dan L
Posted: 04 January 2022 18:47:23(UTC)
#1018

Joined: 29/04/2018(UTC)
Posts: 804
Aminatidi;201685 wrote:
It's odd wording though.

I mean if they've exited it why is it undisclosed?

I might get it if they were still selling down but if it's been sold?


They tend to be cagey about anything in the investable universe as it could be bought again. Its possible that they tried to buy into something but the stock shot up too quickly. For example Home Depot..
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Blunt Instrument
Posted: 06 January 2022 13:45:05(UTC)
#1019

Joined: 21/03/2020(UTC)
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Aminatidi;201685 wrote:
It's odd wording though.

I mean if they've exited it why is it undisclosed?

I might get it if they were still selling down but if it's been sold?



The position sold will very likely be the previously undisclosed name referred to in their October factsheet. Since the full position was never acquired, the name has never been revealed.

Revealing it now would serve no beneficial purpose to the fund. For example, FS may wish to return to the position should the factors which have caused them to exit it change sometime in the future.

The reason for disposing of a position that was still being built will probably be because of some change occurring that materially/significantly impacted the future attractiveness of the holding, eg.
1) A rapid and significant upward re-rating of the share price that materially impacted future likely returns (valuation)
2) Details (such as financial statements) newly becoming available that materially affects the fundamental basis for the investment (fundamentals)
3) New information which brings into question the managements' credentials as long term stewards of capital (subjective quality factors)
4) etc

ie, almost certainly the reason will be: “When the facts change, I change my mind. What do you do, sir?”
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3 users thanked Blunt Instrument for this post.
Jesse M on 06/01/2022(UTC), Aminatidi on 06/01/2022(UTC), Dan L on 06/01/2022(UTC)
Mike Jackson
Posted: 07 January 2022 07:03:41(UTC)
#1022

Joined: 06/01/2022(UTC)
Posts: 23
Very frustrating 6 months for Fundsmith now, keeps creeping up to 670ish before repeatedly slumping back into the 640's.
For the first time in 5 years invested I'm just starting to lose a little faith.
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smg8
Posted: 07 January 2022 14:22:46(UTC)
#1020

Joined: 26/04/2020(UTC)
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Blunt Instrument;201922 wrote:
Aminatidi;201685 wrote:
It's odd wording though.

I mean if they've exited it why is it undisclosed?

I might get it if they were still selling down but if it's been sold?



The position sold will very likely be the previously undisclosed name referred to in their October factsheet. Since the full position was never acquired, the name has never been revealed.

[/i]


At the time I believe it appeared said new holding was in Communication Services, as the sector weighting to it changed the same amount as the new undisclosed position (0.4%).

As such I wonder if it was Walt Disney, bought with an improving outlook due to reopening and sold due to Omicron. Could be barking up the wrong tree altogether but Threadneedle Global Focus did exactly the same, they bought Walt Disney and sold it due to the variant (and it sits in MSCI World Communication Services).

If it wasn't for the clue about sector I'd also wonder about Apple. The stock was flat across Aug/Sept/Oct during which time TS could have been buying, but then shot up from $140 to $180 in no time at all. I know he didn't like Apple before, but he didn't like Amazon before either.

I am sure the truth will be revealed in good time!

P.S Happy New Year all, first post of 2022 and it's on Fundsmith hah. Wishing everyone a prosperous and healthy time ahead.
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5 users thanked smg8 for this post.
Jesse M on 07/01/2022(UTC), Aminatidi on 07/01/2022(UTC), Robin on 07/01/2022(UTC), Newbie on 07/01/2022(UTC), Harry Trout on 07/01/2022(UTC)
Jesse M
Posted: 07 January 2022 14:32:33(UTC)
#1023

Joined: 30/12/2020(UTC)
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Welcome back smg, when you hadn't posted for a while I thought you might be taking a sabbatical lol.
Happy new year
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2 users thanked Jesse M for this post.
smg8 on 07/01/2022(UTC), Robin on 07/01/2022(UTC)
smg8
Posted: 07 January 2022 16:12:36(UTC)
#1024

Joined: 26/04/2020(UTC)
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Jesse M;202122 wrote:
Welcome back smg, when you hadn't posted for a while I thought you might be taking a sabbatical lol.
Happy new year


Thanks Jesse!

As a long term investor I am trying to really disconnect from the day to day gyrations of the market, so took a short bit of time away from the forum to enjoy Christmas. I only tended to check in on weekends 2nd half of last year which coincided with me only doing 1 transaction in a 6 month period. So after an end of year splurge, and a couple of portfolio tweaks as documented, I intend to sit on my hands for the year which means less time tempting myself with what everyone else here is buying/selling :)
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3 users thanked smg8 for this post.
Tim D on 07/01/2022(UTC), Robin on 07/01/2022(UTC), Jesse M on 07/01/2022(UTC)
Bulldog Drummond
Posted: 07 January 2022 16:52:16(UTC)
#1025

Joined: 03/10/2017(UTC)
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smg8;202152 wrote:


Thanks Jesse!

As a long term investor I am trying to really disconnect from the day to day gyrations of the market, so took a short bit of time away from the forum to enjoy Christmas. I only tended to check in on weekends 2nd half of last year which coincided with me only doing 1 transaction in a 6 month period. So after an end of year splurge, and a couple of portfolio tweaks as documented, I intend to sit on my hands for the year which means less time tempting myself with what everyone else here is buying/selling :)

Not an injudicious approach. One of our posters here who seems to have spent the past year researching and frequent day-trading achieved 10%. Given that a world tracker would have done twice that, one does wonder whether the effort is worth it.
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5 users thanked Bulldog Drummond for this post.
Aminatidi on 07/01/2022(UTC), Jesse M on 07/01/2022(UTC), mark spurrier on 07/01/2022(UTC), Harland Kearney on 10/01/2022(UTC), MBA MBA on 12/01/2022(UTC)
Aminatidi
Posted: 07 January 2022 16:56:25(UTC)
#1028

Joined: 29/01/2018(UTC)
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Apologies to smg8 as this is simply an outside observers perspective (and I'm sure a psychologist would have a field day with me so glass houses and all that!) but I think there's a difference between something being a strategy (however good or bad) and perhaps something of a bad habit you find you've fallen into because it's easy to be like a kid in a sweet shop?
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Guest on 12/01/2022(UTC)
mark spurrier
Posted: 07 January 2022 22:21:26(UTC)
#1026

Joined: 17/01/2018(UTC)
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Bulldog Drummond;202165 wrote:
smg8;202152 wrote:


Thanks Jesse!

As a long term investor I am trying to really disconnect from the day to day gyrations of the market, so took a short bit of time away from the forum to enjoy Christmas. I only tended to check in on weekends 2nd half of last year which coincided with me only doing 1 transaction in a 6 month period. So after an end of year splurge, and a couple of portfolio tweaks as documented, I intend to sit on my hands for the year which means less time tempting myself with what everyone else here is buying/selling :)

Not an injudicious approach. One of our posters here who seems to have spent the past year researching and frequent day-trading achieved 10%. Given that a world tracker would have done twice that, one does wonder whether the effort is worth it.


Trading is about price and value doesn't matter. Deeply unconvinced that research and short term trading go together in fact, having an opinion would probably be unhelpful
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Bulldog Drummond on 08/01/2022(UTC)
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