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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Finsbury Growth & Income Trust Plc | FGT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -2.00 | -0.22% | 895.00 | 16:35:28 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 890.00 | 884.00 | 891.00 | 895.00 | 897.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
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Posted at 22/7/2024 11:28 by shieldbug Judge Train on long term performance. The trouble with this is that if his strategy has only been successful because we have been living through a period that supports his thesis - then we have (he has) a problem when that changes.It might not have changed, this could be a blip and FGT powers higher but the share price is quite a bit down on where it was 5 years ago. One of my discomforts with Train is he never really presents a fundamental valuation argument for his holdings - while he often talks of relative value. I sometimes do wonder if he really is an entirely narrative based investor. |
Posted at 04/6/2024 14:24 by steve3sandal Some interesting observations in my email this morning. Look across to peers suggests trough is past, though there are lots of moving parts. Certainly the opportunity to kitchen sink 2023/4 but I suspect it’s discounted. FGT allows one to top up your drinks at an FGT discount to Covid low prices. I’m hopeful we are near the bottom.LIBRARIAN CAPITAL JUN 3 ∙ PREVIEW READ IN APP Highlights Shares of spirits makers have fallen to multi-year lows, including Diageo’s. Recent results show cyclical weakness, not reason to doubt structural growth. Diageo sales fell just 1.4% in Jul-Dec; Jan-Jun is expected to be better. Peers’ Jan-Mar results showed overall momentum, especially outside the U.S. At 2,643.5p, we see a 59% total return (16.9% p.a.) by June 2027. Buy. Introduction We revisit our Buy rating on Diageo after shares closed at a new 52-week low last week. Shares are now less than 10% above their March-2020 pandemic trough and show a P/E of less than 19x relative to pre-COVID FY19 earnings: Diageo Share Price (Last 5 Years) Source: Google Finance (03-Jun-24). We have been wrong on Diageo. Shares have lost 13.2% (after dividends) in the 5 years since we initiated our Buy rating on Diageo in July 2019. Diageo has also been part of our “Select 15” model portfolio since its inception at the start of 2023, and currently shows an unrealised loss of about 16%. We have also lost money on Diageo in real life. Shares of other Spirits companies, including Pernod Ricard, Rémy Cointreau and Brown-Forman, are also at multi-year lows. We believe investors over-reacted to weak growth in recent results and extrapolated that to be the long-term trend. The key components of our Diageo investment case are that premium spirits companies will continue to grow sales at mid-to-high single-digits, margins will continue expanding, and FY19 was a relatively normal year. Recent sector results, while showing cyclical volatility inherent in the sector, remain consistent with these assumptions |
Posted at 09/2/2022 20:52 by topvest EssentialInvestor - I agree that it was a good idea, but the timing was wrong and because the timing was wrong then the top end price was also wrong. It might have been possible if Unilever share price was 50% higher. Simple numbers, they were offering 50% of the Unilever market cap for a business a quarter of the size. Crazy to be giving away equity for something valued so much higher than their own great business. I think Terry Smith summed it up better.Unilever probably needs a Board reset as they have had a poor 5 year period. They also need to get their own house in order as the performance has been lacklustre. Terry Smith is spot on, as ever. Nick Train is a very good investor, but is sometimes a tad over loyal to his holdings. £50bn was a very full price. I am not sure what planet GSK are on, but surely anything around £50bn is a very good price for a £10bn turnover £2bn profit business. I would be very surprised if the market cap on IPO is anywhere near that and more possibly £40bn. |
Posted at 08/2/2022 12:15 by shieldbug Then you need to have a 5 year investment horizon for FGT.Why do investors pick managers - and then expect them to change their process to suit their personal preferences? |
Posted at 03/11/2021 18:55 by spangle93 I don't care if he makes Eeyore look like one of the Chuckle Brothers if he makes investors money.However, I've held this through crash and rebound, growth periods and value periods, for more than 3 years, and I'm exactly 6% up. I keep holding, [1] because of his reputation for sagacity, pumped in the media, and [2], a combination of FOMO and a wavering view that at some point, (because of [1]) its day will come. But it's a patience tester, that's for sure I'll let you know if I sell, so you can pile in, because for sure it will go up then |
Posted at 03/11/2021 16:26 by 123ct It is his enthusiasm that makes him such a good presenter and easy to listen to, what I am trying to establish is why the discount has opened up, as if he was simply just buying rubbish stocks then the share price would fall but it isn't so what is it that is making Investors not wanting to buy FGT and so lead to the discount opening up, I know FGT operate a 5% discount buy back so it shouldn't widen any further |
Posted at 26/10/2020 09:38 by ih_419191 I am a fan of the overall approach and like most of the holdings. The one I would question is Unilever due to the secular shift in their largest markets to own brand labels. My biggest issue with the fund is the way Nick Trane speaks to its investors. He is like an overly arrogant Cambridge Don speaking to a bunch of kids at the local comprehensive school. He speaks so slowly and like you are all a bunch of idiots. Really makes you just want to give him a smack. Alongside most of his UK investment Fund peers (inc RIT, City of London, Witan, BES etc) they have walked like lemmings off the cliff and failed to recognize the seismic shifts and changing nature of what constitutes value in 2020. If you like value look to Japan / Asia not Unilver and Mondelez. |
Posted at 21/4/2020 00:23 by masurenguy Finsbury Growth & Income Trust: Train worth boarding in tough timesThe Times: 21 April 2020 In volatile markets such as these, it must be tempting for investors to turn to traditional stalwarts, perceived to offer safety when the world looks shaky. Finsbury Growth & Income Trust is a good example of one of these vehicles, highly popular among individual investors because of its very strong track record in creating value. An investment trust that is a constituent of the FTSE 250, Finsbury Growth & Income Trust has flourished since 2000, when Lindsell Train — and one of its founders, Nick Train, 60 — took control of the portfolio and the investment process. Complete article: |
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