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Views please on a replacement for Smithson IT
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Ramondo
Posted: 28 January 2025 09:28:04(UTC)
#1

Joined: 20/10/2018(UTC)
Posts: 700
I've held Smithson IT for many years and although carrying a loss on it believe that any improvement which is currently being touted is some way off.
Thus I'm looking for a replacement holding for that sector, Global Mid/Small

Views on either a open or closed choice would be appreciated.
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Hilda Ogden
Posted: 28 January 2025 09:37:44(UTC)
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Joined: 31/07/2023(UTC)
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I don't hold but I note that after a pretty dire period it has picked up the last few months. If you want to hold mostly American mid cap stocks, I think SSON could do well under the Trump administration. Already owning it, I would be tempted to hold for another year and then look again at it.
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5 users thanked Hilda Ogden for this post.
Guest on 28/01/2025(UTC), Sara G on 28/01/2025(UTC), Ramondo on 28/01/2025(UTC), dlp6666 on 28/01/2025(UTC), Johan De Silva on 29/01/2025(UTC)
Ian Eccles
Posted: 28 January 2025 11:15:23(UTC)
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Joined: 04/07/2021(UTC)
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I don't know if you are aware, the big bad fox Saba have been buying lately which should stir the pot.
Maybe now is not the time to sell but watch and wait.
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3 users thanked Ian Eccles for this post.
Raj K on 28/01/2025(UTC), Sara G on 28/01/2025(UTC), Ramondo on 28/01/2025(UTC)
Raj K
Posted: 28 January 2025 11:34:54(UTC)
#4

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Ian Eccles;332432 wrote:
I don't know if you are aware, the big bad fox Saba have been buying lately which should stir the pot.
Maybe now is not the time to sell but watch and wait.


Article about this although it indicates they may have exited.

https://archive.is/4jrRW
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3 users thanked Raj K for this post.
Ian Eccles on 28/01/2025(UTC), Sara G on 28/01/2025(UTC), Ramondo on 28/01/2025(UTC)
Sara G
Posted: 28 January 2025 13:05:10(UTC)
#5

Joined: 07/05/2015(UTC)
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Raj K;332437 wrote:
Ian Eccles;332432 wrote:
I don't know if you are aware, the big bad fox Saba have been buying lately which should stir the pot.
Maybe now is not the time to sell but watch and wait.


Article about this although it indicates they may have exited.

https://archive.is/4jrRW


SSON is another one of mine - and like EWI, it's in the unsheltered account, so my options are limited.

The article suggests that SABA took a 'nibble' but may now have walked away. Increasingly, IT investing feels like swimming with sharks.

All that aside, I like the strategy and am inclined to hold and see how things play out.

There aren't any obvious closed end alternatives, although GSCT might be worth a look - some of it's holdings are not that small. Or some of the other global ITs may have more of a multi-cap approach, like MNKS, for example.
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4 users thanked Sara G for this post.
Ian Eccles on 28/01/2025(UTC), Raj K on 28/01/2025(UTC), dlp6666 on 28/01/2025(UTC), Ramondo on 28/01/2025(UTC)
Raj K
Posted: 28 January 2025 14:04:58(UTC)
#7

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Shareholder letter also released.

https://www.smithson.co....o-shareholders-2024.pdf

They continue to evolve their strategy.

Surprised to hear Will Morgan has left , bit under the radar . Not sure , iirc his title was deputy fund manager , they have hired an additional analyst now.



.
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Ramondo on 28/01/2025(UTC)
Big boy
Posted: 28 January 2025 14:21:32(UTC)
#8

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Clearly SSON are relatively cheap on 11.6% discount so not sure you can improve based on to-days facts..

Remember when comparing FMs dont get trapped into looking at past performance or you could fall into the Woodford/SMT etc. trap...

Start to-day with all the FMs equal as no one (even Forum Members) knows the future. Remember the Press/media is only peddling 2nd hand info. so you will always be behind the curve.

I am sure many learned Members will tell you otherwise.
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2 users thanked Big boy for this post.
Ramondo on 28/01/2025(UTC), John Lee on 29/01/2025(UTC)
Big boy
Posted: 28 January 2025 14:29:11(UTC)
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Sara G;332451 wrote:
Raj K;332437 wrote:
Ian Eccles;332432 wrote:
I don't know if you are aware, the big bad fox Saba have been buying lately which should stir the pot.
Maybe now is not the time to sell but watch and wait.


Article about this although it indicates they may have exited.

https://archive.is/4jrRW


SSON is another one of mine - and like EWI, it's in the unsheltered account, so my options are limited.

The article suggests that SABA took a 'nibble' but may now have walked away. Increasingly, IT investing feels like swimming with sharks.

All that aside, I like the strategy and am inclined to hold and see how things play out.

There aren't any obvious closed end alternatives, although GSCT might be worth a look - some of it's holdings are not that small. Or some of the other global ITs may have more of a multi-cap approach, like MNKS, for example.


With my knowledge of the IT sector I would say you are not "swimming with sharks" and suggest you concentrate on adding value and spending it ..The later is also very important.
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2 users thanked Big boy for this post.
Ramondo on 28/01/2025(UTC), John Lee on 29/01/2025(UTC)
Big boy
Posted: 28 January 2025 14:32:16(UTC)
#9

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Remember the big bad wolf (SABA) is required/needed sometimes to wake up some of the slumbering giants.

Its been happening for three to five decades from memory and it all tends to be good for the Industry which has been around a long time.
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4 users thanked Big boy for this post.
Hilda Ogden on 28/01/2025(UTC), Ramondo on 28/01/2025(UTC), Thrugelmir on 28/01/2025(UTC), John Lee on 29/01/2025(UTC)
ben ski
Posted: 29 January 2025 02:19:18(UTC)
#10

Joined: 15/01/2016(UTC)
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Ramondo;332422 wrote:
I've held Smithson IT for many years and although carrying a loss on it believe that any improvement which is currently being touted is some way off.
Thus I'm looking for a replacement holding for that sector, Global Mid/Small

Views on either a open or closed choice would be appreciated.


The whole guessing game of which style and sectors are going to do well over 3-5 years is a game not worth playing. It's a losers' game. Even now you're debating selling on a loss, having lost many years of potential returns and compounding.

If you've got no way of being ahead of the curve, there's no reason not to just buy the market. And I'd say you've got two choices:

VWRL Vanguard FTSE World
GGRG Wisdomtree Global Quality Dividend Growth

No guessing or betting here. It could be a bad time for broad market indexes if AI sells off some more. But you own everything – so whatever does best next, you'll own more of it.

The Wisdomtree fund is a bit of a bet, but it does a good job of filtering out the more speculative parts of the market. Don't buy it to outperform, but rather if you want the steadiness and robustness of only investing in more established businesses.

I would add an equal weight index as a third, as you add it (as a satellite) to a broad market index, and it simply reduces concentration in the big names.
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4 users thanked ben ski for this post.
Peanuts on 29/01/2025(UTC), D T on 29/01/2025(UTC), Ramondo on 29/01/2025(UTC), Special Kloud on 29/01/2025(UTC)
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