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Aminatidi
Posted: 08 December 2021 15:16:09(UTC)
#999

Joined: 29/01/2018(UTC)
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Pretty sure todays 675.23p is an all-time high.

Which is nice.
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Joe Soap on 08/12/2021(UTC)
Neminem Laedit
Posted: 08 December 2021 15:58:33(UTC)
#1005

Joined: 17/09/2018(UTC)
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I'm seeing 667.80 (T-class Acc), but yep, an ATH....

21.9% YTD
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Joe Soap on 08/12/2021(UTC)
Keith Stewart
Posted: 08 December 2021 16:13:29(UTC)
#1006

Joined: 24/05/2019(UTC)
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Yip. Done well the last couple of days.
Weak sterling vs dollar is helping.
JGGI and Fidelity Index World have been flying as well.
Classic case of markets turning on a dime.
If you're not in, you can't win.
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Joe Soap on 08/12/2021(UTC)
Joe Soap
Posted: 08 December 2021 16:14:11(UTC)
#1000

Joined: 24/01/2010(UTC)
Posts: 2,157
Aminatidi;198452 wrote:
Pretty sure todays 675.23p is an all-time high.

Which is nice.

Be careful, Smith is robbing you for his 0.9%......
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Newbie
Posted: 08 December 2021 17:37:43(UTC)
#1001

Joined: 31/01/2012(UTC)
Posts: 3,816

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Joe Soap;198467 wrote:
Aminatidi;198452 wrote:
Pretty sure todays 675.23p is an all-time high.

Which is nice.

Be careful, Smith is robbing you for his 0.9%......


Those looking to an alternative / companion fund -

Rathbone Global Opps with the 0,75%, you would have got a slightly better return.

It is outperforming FS over 3 months, 6 months, 1/3/5 years.

Not taking anything away from FS (I am invested in it), but whereas the contributions in the past could be say 30% SMT, 30 FS, 30% Rathbone, and both SMT and FS ballooned, it 'may' make sense to adjust and favour a bit more to Rathbone given recent headwinds.

The bonus being for those in the brown suits, there is a 0.15% savings in AMC (though with the returns TS has given, I am sure you can afford it)
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ANDREW FOSTER on 08/12/2021(UTC), Jesse M on 08/12/2021(UTC)
Joe Soap
Posted: 08 December 2021 18:06:53(UTC)
#1004

Joined: 24/01/2010(UTC)
Posts: 2,157
Newbie;198502 wrote:
Joe Soap;198467 wrote:
Aminatidi;198452 wrote:
Pretty sure todays 675.23p is an all-time high.

Which is nice.

Be careful, Smith is robbing you for his 0.9%......


Those looking to an alternative / companion fund -

Rathbone Global Opps with the 0,75%, you would have got a slightly better return.

It is outperforming FS over 3 months, 6 months, 1/3/5 years.

Not taking anything away from FS (I am invested in it), but whereas the contributions in the past could be say 30% SMT, 30 FS, 30% Rathbone, and both SMT and FS ballooned, it 'may' make sense to adjust and favour a bit more to Rathbone given recent headwinds.

The bonus being for those in the brown suits, there is a 0.15% savings in AMC (though with the returns TS has given, I am sure you can afford it)

Yes, I think the Rathbone fund is perhaps the one likely alternative I would buy too. Over 1 and 5 years they're virtually neck and neck with FS having the better decade and Rathbone having the better 3 year number.
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Guest on 08/12/2021(UTC)
Laurence O'Brien
Posted: 08 December 2021 19:10:03(UTC)
#1002

Joined: 04/12/2014(UTC)
Posts: 943
Newbie;198502 wrote:
Joe Soap;198467 wrote:
Aminatidi;198452 wrote:
Pretty sure todays 675.23p is an all-time high.

Which is nice.

Be careful, Smith is robbing you for his 0.9%......


Those looking to an alternative / companion fund -

Rathbone Global Opps with the 0,75%, you would have got a slightly better return.

It is outperforming FS over 3 months, 6 months, 1/3/5 years.

Not taking anything away from FS (I am invested in it), but whereas the contributions in the past could be say 30% SMT, 30 FS, 30% Rathbone, and both SMT and FS ballooned, it 'may' make sense to adjust and favour a bit more to Rathbone given recent headwinds.

The bonus being for those in the brown suits, there is a 0.15% savings in AMC (though with the returns TS has given, I am sure you can afford it)


Rathbone is 0.52% with HL.
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Newbie
Posted: 08 December 2021 19:51:42(UTC)
#1003

Joined: 31/01/2012(UTC)
Posts: 3,816

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Laurence O'Brien;198514 wrote:
Newbie;198502 wrote:
Joe Soap;198467 wrote:
Aminatidi;198452 wrote:
Pretty sure todays 675.23p is an all-time high.

Which is nice.

Be careful, Smith is robbing you for his 0.9%......


Those looking to an alternative / companion fund -

Rathbone Global Opps with the 0,75%, you would have got a slightly better return.

It is outperforming FS over 3 months, 6 months, 1/3/5 years.

Not taking anything away from FS (I am invested in it), but whereas the contributions in the past could be say 30% SMT, 30 FS, 30% Rathbone, and both SMT and FS ballooned, it 'may' make sense to adjust and favour a bit more to Rathbone given recent headwinds.

The bonus being for those in the brown suits, there is a 0.15% savings in AMC (though with the returns TS has given, I am sure you can afford it)


Rathbone is 0.52% with HL.

Even better !!

Though a more cost effective option is Rathbone Direct.

HL - 0.51% + 0.45% = 0.96%
Rathbobe Direct - 0.75%
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Guest on 08/12/2021(UTC)
ANDREW FOSTER
Posted: 08 December 2021 19:54:25(UTC)
#988

Joined: 23/07/2019(UTC)
Posts: 8,101
Monty Claret;198081 wrote:
ANDREW FOSTER;198064 wrote:
Dan L;198062 wrote:


I would say that what changed the situation was covid. Before 2020 cloud adoption was moving along nicely but since lockdown hit it has rocketed. Amazons profits have tripled on the back of it yet its share price has only gone up around 60%. Its a very different proposition than it was.


But that's rather the point. The share price hasn't risen in sympathy.

I guess that's because those profit rises were expected and priced in. As are further profit rises no doubt, hence the high P/E.

I'd say high growth is already in the price and hence it will continue to drift modestly up but below general market rises.

At 6.3% YTD it's lower than CGAR, yet way higher risk. I'm sticking to my view I think. Grass is looking greener elsewhere.



Morningstar is showing YTD

FS 17.78
SMT 15.34
CGAR 8.28



I was referring to Amazon YTD rather than FS

And Vanguard Developed World Passive 23% YTD
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Jesse M
Posted: 14 December 2021 08:36:12(UTC)
#1007

Joined: 30/12/2020(UTC)
Posts: 1,471

Thanks: 10262 times
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Jesse M;199265 wrote:
smg8;199042 wrote:
Tim D;199040 wrote:
smg8;199037 wrote:
Fundsmith's investable universe is circa 1.2% of the Vanguard Global All Cap index


That's an eyebrow-raising number. Microsoft and Facebook are top-10 holdings in Fundsmith, and they're in total weight together ~4% of the Global AllCap, so clearly Fundsmith's "investable universe" must be bigger than 4% of the Global AllCap's market cap.

Unless you mean 1.2% of the number of companies in that index. But I'm not sure that's very useful either as you'd get a very different percentage depending on which index you compared with as some have thousands more small-cap companies (that Fundsmith couldn't touch) than others.

Hmmm.... maybe a more unambiguous statement would be "Fundsmith's investable universe is <N> companies, which together total <X>% of global AllCap market cap"? (Not sure what those numbers are though.)


Sorry, I've put it confusingly there.

Number of companies in Vanguard Global All Cap is 6700 odd and FS investable universe is 80 odd. So they are interested in 1.2% of the companies available/that you'd own if you bought the WHOLE index, or 5% if you used Fidelity Index World P etc

I guess my point is that by choosing FS, we/you/I add the risk of ruling out the thousands of other companies that could be a better source of returns.


I'm curious but don't know if you have the 'by market cap', what is the value of those 80 odd companies that Fundsmith can invest in vs the VG All Cap?

Don't want to rule out what you are saying but likely these are companies that have excess cash and USP's that have got them where they are, and if that investable universe changes over time (new companies take that slot) then that opens that up for the fund to invest in surely?

Just trying to say we are just looking at a snapshot in time.
Edit: I may speak for myself here but its not just the decent returns but the comparative lower volatility that is also a consideration. Higher returns come with associated risk.
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smg8 on 14/12/2021(UTC)
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