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dlp6666
Posted: 17 February 2023 11:39:45(UTC)
#875

Joined: 13/05/2012(UTC)
Posts: 195

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Mr GL;258016 wrote:


I hold the following - all of which mentioned in this article

10.6% Capital Gearing CGT
5.7% Personal Assets PNL
6.0% Ruffer RICA
19.8% RIT Capital RCP
5.1% Caledonia CLDN
....



Thanks, again, for your more reassuring perspective on RCP (which over recent years I've been adding to my SIPP, though now doubting a bit the wisdom of that).

Does today's c.2% share price fall prompt you to increase your already high stakes in RCP, or do you feel the discount probably isn't yet sufficiently high as to properly reflect the 'uncertain' PE position?
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1 user thanked dlp6666 for this post.
Mr GL on 17/02/2023(UTC)
Thrugelmir
Posted: 17 February 2023 11:46:01(UTC)
#882

Joined: 01/06/2012(UTC)
Posts: 5,327
RIT currently appears to be something of a meme stock.
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smg8
Posted: 17 February 2023 11:55:29(UTC)
#534

Joined: 26/04/2020(UTC)
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I've seen nothing that has changed my mind on this one.

Risk reward trade off for an investor (not trader) has been woeful from this in the last 3/5 years. 4%+ fees to lose you money over 3 years.

Far more volatile than 100% equities, yet far worse returns....

Appreciate it has a legion of fans on here, but I just don't see what other people are seeing (and that's fine, I am sure others feel the same about my holdings).

I also fully accept 3 years is a short timeframe, but it's surely these exact type of volatile markets in which vehicles like this are meant to excel.
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2 users thanked smg8 for this post.
dlp6666 on 17/02/2023(UTC), Mr GL on 17/02/2023(UTC)
dlp6666
Posted: 17 February 2023 12:01:49(UTC)
#883

Joined: 13/05/2012(UTC)
Posts: 195

Thanks: 14075 times
Was thanked: 193 time(s) in 101 post(s)
Thrugelmir;258028 wrote:
RIT currently appears to be something of a meme stock.


Yes, but I wouldn't have thought someone with experience like Max King / Moneyweek etc. - unlike many fickle investors - would fail to have a good grasp of a company's fundamentals.
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Thrugelmir
Posted: 17 February 2023 12:05:24(UTC)
#535

Joined: 01/06/2012(UTC)
Posts: 5,327
smg8;258030 wrote:
I

I also fully accept 3 years is a short timeframe, but it's surely these exact type of volatile markets in which vehicles like this are meant to excel.



What type of vehicle do you regard it as? I doubt the family care much about short term volatility. Investments made are done so with a long term view and a key focus on underlying fundamentals. Than churning the portfolio in reaction to daily events.
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Thrugelmir
Posted: 17 February 2023 12:10:57(UTC)
#885

Joined: 01/06/2012(UTC)
Posts: 5,327
dlp6666;258032 wrote:
Thrugelmir;258028 wrote:
RIT currently appears to be something of a meme stock.


Yes, but I wouldn't have thought someone with experience like Max King / Moneyweek etc. - unlike many fickle investors - would fail to have a good grasp of a company's fundamentals.


Seems to understand RIT's portfolio well enough.
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Mr GL
Posted: 17 February 2023 12:15:05(UTC)
#876

Joined: 18/10/2020(UTC)
Posts: 5,129

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Was thanked: 17969 time(s) in 4238 post(s)
dlp6666;258025 wrote:
Mr GL;258016 wrote:


I hold the following - all of which mentioned in this article

10.6% Capital Gearing CGT
5.7% Personal Assets PNL
6.0% Ruffer RICA
19.8% RIT Capital RCP
5.1% Caledonia CLDN
....



Thanks, again, for your more reassuring perspective on RCP (which over recent years I've been adding to my SIPP, though now doubting a bit the wisdom of that).

Does today's c.2% share price fall prompt you to increase your already high stakes in RCP, or do you feel the discount probably isn't yet sufficiently high as to properly reflect the 'uncertain' PE position?




I think you need to be very careful following a stranger on the internet...
Also my financial situation is my own to worry about...
I was up 15% last year... this gives me a lot of room to be wrong and still be well up on my performance targets
I have self imposed 20% position limit - I wont break this
A lot of seasoned and sensible heads on this site think I am bonkers for having 20% in RIT - they may be right
I am holding this lumpy position in a vacuum - I was expecting their Jan month end NAV to come out the last few days... I have all weekend to wind myself up as to why its not out yet
I am not going to advise you on what I plan to do in order to influence what you do... I will keep reporting what I have done
RIT is becoming an obsession for me - and this is a bad situation for an investor / trader to get into... just look how sensitive I am every time LP repeats his concern a bout PE / RIT - I am maybe dismissing opposing viewpoints too easily
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12 users thanked Mr GL for this post.
Sheerman on 17/02/2023(UTC), dlp6666 on 17/02/2023(UTC), Phil 2 on 17/02/2023(UTC), AlanT on 17/02/2023(UTC), smg8 on 17/02/2023(UTC), SF100 on 17/02/2023(UTC), Fell Walker on 17/02/2023(UTC), Strauss on 17/02/2023(UTC), bill xxxx on 17/02/2023(UTC), Low Returns on 17/02/2023(UTC), Auric on 19/02/2023(UTC), Andy JR on 20/02/2023(UTC)
smg8
Posted: 17 February 2023 12:32:51(UTC)
#536

Joined: 26/04/2020(UTC)
Posts: 3,369

Thanks: 5713 times
Was thanked: 13315 time(s) in 2754 post(s)
Thrugelmir;258034 wrote:
smg8;258030 wrote:
I

I also fully accept 3 years is a short timeframe, but it's surely these exact type of volatile markets in which vehicles like this are meant to excel.



What type of vehicle do you regard it as?


When things didn't keep up with the index in the bull run, a common rebuttal was "aha but wait until the index tanks, it's been led higher by x stocks/x US exposure etc". If those same investments then tank on the way down, it begs the question what is the point of them.

Thrugelmir;258034 wrote:
I doubt the family care much about short term volatility.


This comes back to my previous point, it gets cut a lot of slack because of "the family". Slap a Janus Henderson or Invesco badge on this IT and it would be perceived completely differently.
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3 users thanked smg8 for this post.
dlp6666 on 17/02/2023(UTC), Aminatidi on 17/02/2023(UTC), Andy JR on 20/02/2023(UTC)
smg8
Posted: 17 February 2023 12:36:16(UTC)
#880

Joined: 26/04/2020(UTC)
Posts: 3,369

Thanks: 5713 times
Was thanked: 13315 time(s) in 2754 post(s)
Mr GL;258038 wrote:


A lot of seasoned and sensible heads on this site think I am bonkers for having 20% in RIT - they may be right


I am not seasoned or sensible, and nor do I think anyone is bonkers for thinking what they think/holding what they hold so I don't think I am the intended recipient of this comment.

However I do think it's a massive gamble to have 20% of a portfolio of your size in one holding. We know you have significant AUM and are in a position many would love to be in with respect to this.

So the idea of "gambling" 20% of it on the hope that the whole market is wrong and you are right seems to be a very high risk thing to do when you clearly don't "need" to.

I hope your bet comes off and the outcome is what you hope, but from your posts it comes across to an outsider as if it's more about you needing to prove you are right on this one rather than actually needing to take on such a high risk concentrated position for any other reason.
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9 users thanked smg8 for this post.
Mr GL on 17/02/2023(UTC), Thrugelmir on 17/02/2023(UTC), Tim D on 17/02/2023(UTC), dlp6666 on 17/02/2023(UTC), Guest on 17/02/2023(UTC), Fell Walker on 17/02/2023(UTC), Aminatidi on 17/02/2023(UTC), Strauss on 17/02/2023(UTC), Andy JR on 20/02/2023(UTC)
Thrugelmir
Posted: 17 February 2023 12:55:59(UTC)
#539

Joined: 01/06/2012(UTC)
Posts: 5,327
smg8;258040 wrote:

This comes back to my previous point, it gets cut a lot of slack because of "the family". Slap a Janus Henderson or Invesco badge on this IT and it would be perceived completely differently.


It is what is is. Debating this issue is pointless. Just needless noise. Plenty of alternative investment opportunities out there. That are far more worthy of one's time.
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