Liontrust Asset Management Share Discussion Threads

[chubby chandler] 14/7/2023 12:19

Correct dealy these market doldrums create an opportunity - arguably as good as we had back in March 2020!

[dealy] 14/7/2023 12:11

lots of small caps hit new multi year lows recently. If funds have redemptions or asset allocation moves away from small caps (as was the case from March to June this year), then shares are weak.

[chubby chandler] 14/7/2023 11:55

The covid lows for most companies - including LIO - came in March 2020 when panic was at its maximum and money was leaving the market, not going in.

So for me it makes little sense that LIO is 25% lower now than at that time of maximum panic. And to be fair, some panic was justified then because no-one had a clue how severe and how long the pandemic was going to be.

Now there is no need to panic because we are simply going through an economic cycle that has been seen countless times before. Inflation goes up, then it goes down. Market overreacting as it usually does, thanks in no small part to the doomsayers in the media.

Meanwhile Liontrust loses 75% of its value of 2 years ago. Bonkers.

[spectoacc] 14/7/2023 09:33

Agree the market will move well ahead of the upturn. But not at all inexplicable that LIO now lower than Covid. Covid saw money pour into the market, as people were stuck at home not spending.

UK inflation will fall - just not far enough - and high interest rates/fiscal drag are baked in (at least the next 2 years, then see what Labour come up with).

[chubby chandler] 14/7/2023 09:28

Once we start getting news of UK inflation coming down, the bear market will quickly turn to a bull.

Great time to be buying shares like LIO which, inexplicably, are sitting well below their covid lows.

The market always reacts as if the current situation will continue forever and ,consequently, will always overshoot (in either direction). Buy at the lows now and reap the rewards later.

[spectoacc] 14/7/2023 09:22

Well N91 have dropped £5bn a qtr for 3 consecutive qtrs - I make that 6 years to zero ;)

At some point, money starts going back in, but difficult to see that point anywhere near - fiscal drag, end of ZIRP, fixed rate mortgages ending, wage rises not keeping up with inflation.

[r2oo] 14/7/2023 09:19

As Warren says, be greedy when others are fearful. With a forward pe of around 10 this is a buying opportunity for sure and a great 10yr hold IMO.

[r2oo] 14/7/2023 09:12

There seems to be net outflows for across the board for financials. Ashmore reported this morning net outflows of 1.8 b.

[spectoacc] 14/7/2023 08:51

N91 reported this morning too, usefully stating past 3 AUM's:

"Ninety One today confirms its assets under management at 30 June 2023 of £124.8 billion (30 June 2022: £134.9 billion; 31 March 2023: £129.3 billion)."


Not looked how much of LIO/N91 is performance & how much is money leaving the market, but agree it looks set to continue.

Some of that is in the price already of course.

[tongostl] 14/7/2023 08:26

£2B outflows! Ouch!

People are obviously tapping into savings due to the current economic climate. Can't see it getting better any time soon.

[spectoacc] 14/7/2023 08:02

"Grim" would be too strong a word, but not difficult to see why they're heading down the acquisitions route - something's got to arrest the bleed of AUM.

[farnesbarnes] 05/7/2023 20:37

re: 393 - waiting for the price to be higher

This is actually a lower risk strategy. Higher low, higher high, pullback to breakout / swing point, pull the trigger on a defined risk to the higher low. Allows you to potentially buy more. A higher weighting on your portfolio yes, but defined risk.

If you were to buy tomorrow at 675p, where's your stop loss and more importantly, why?

[m w] 05/7/2023 12:38

Hopefully something positive will come out of the general meeting on Friday as this is getting very painful to hold.

[encarter] 04/7/2023 17:31

It must be amazing for you that every stock you buy goes up and every one you sell goes down. I expect you're a billionaire, but unfortunately for you, all the money in the world can't buy good manners.

[spawny100] 04/7/2023 17:30

692 looks like it was a good call.

[encarter] 04/7/2023 17:27

Not sure what you mean? It was an opinion.

[sandeep67] 04/7/2023 14:14

really. Great knowledge dohhh

[encarter] 29/6/2023 12:50

I doubt that we'll see 692 now. If you take the divi into account the share price has been up the last 2 days. The downtrend is over.

[trident5] 29/6/2023 11:48

What - wait until the price is higher, then buy fewer?

[jonny_wright] 29/6/2023 11:38

Anyone would be silly to buy a stock in such a downtrend, need to wait for stage 2 setups - patience if the fundamentals are solid

[jonny_wright] 29/6/2023 11:37

All eyes on 692 here if it breaks

[m w] 28/6/2023 18:34

Ex dividend tomorrow expect a big drop

[encarter] 28/6/2023 12:43

Then again, maybe not.

[encarter] 27/6/2023 15:58

Ex divi in a couple of days should see 690. Then hopefully a recovery.

[daler1966] 27/6/2023 11:57

Good yield if sustainable,