Manchester & London Inve... Share Discussion Threads

[takeiteasy] 20/11/2023 15:42

We are offering a portfolio with 57.7% coverage of the "magnificent 7" - I have seen no IT available in UK that comes close to this degree of concentration...(e.g. PCT you get about c.35% coverage/ SMT about c.14%) :) dyor etc of course...still about c.19% discount if you guesstimate live prices rather than wait for the weekly update on Wednesday which I continue to find astonishing :)

[umitw] 20/11/2023 15:16

Nasdaq 100 is on the second resistance level, seems like a strong upward trend ! See how it closes this evening.

[umitw] 20/11/2023 15:05

MNL pays dividends as well! It's a bonus.

[takeiteasy] 20/11/2023 14:28

Far too few actually are aware of these holdings like artista and cadence etc so we need to get some supporters like SMT have in the press week in week out to explain the approach to the wider masses

Having said that the actually selling is tiny and we no longer have this huge stock over hang it appears so I suspect a very temporary pause at around this level

www.cnbc.com/2023/11/19/cramer-diversification-is-crushing-investors-will-2024-be-different.html?&qsearchterm=diversification

so you get a lovely diversified tech portfolio like SMT and you get close to zero return in 2023 YTD....so do you stick with MNL uber concentrated S&P500 tech heavy approach and will you still outperform - everyone will take their pick :)

[umitw] 20/11/2023 11:22

If Nvidia passes through 500-510 it's a break out. Hopefully we may have the same here! IMO & hoping -:)

[umitw] 20/11/2023 11:19

MNL. Struggling to pass through 500-504 !I hope it does not stay there got too long!

[takeiteasy] 18/11/2023 13:30

Maybe that is possible, our manager is trying to make the point that the AI cohort within the US market (S&P 500/Nasdaq all share) is arguably an equally strong trend:

Resorting our holdings from YTd performance above into two groups:
Magnificent 7 list: Apple +46%, Microsoft +54%, Alphabet +54%, Amazon +72%,Nvidia +207%
AI thematic outside magnificent 7 list: ASML +25%,Oracle +41%, , Cadence +67%, Synposys +67%, , Arista +77%, AMD +86% (4 of these 7 holdings are at the very top tier S&P 500 ytd and batting pretty much as hard as the magnificent 7)

So we appear very handily placed between holdings in either cohort :) dyor etc

[umitw] 18/11/2023 09:27

IMO magnificent 7 will decouple from the indexes in time. May be already started!

[takeiteasy] 18/11/2023 06:16

One happy fund manager atm :)

Looking at the YTD numbers for the holdings -ASML +25%,Oracle +41%, Apple +46%, Microsoft +54%, Alphabet +54%, Cadence +67%, Synposys +67%, Amazon +72%, Arista +77%, AMD +86% and Nvidia +207%

Is this a brilliant short term blip that fizzles out or a longer term thematic shift where these stocks continue to decouple from the main index averages performance wise and we keep positive alpha? dyor etc

[takeiteasy] 17/11/2023 05:40

hxxps://www.msn.com/en-us/lifestyle/shopping/microsoft-gains-on-new-ignite-ai-chip-plans-wedbush-price-target-boost/ar-AA1k1Fif

"We believe the stock has yet to price in what we view as the next wave of cloud and AI growth coming to the Redmond story with FY24 with a strong competitive cloud edge vs. Amazon and Google," said Ives, who lifted his price target on Microsoft by $25, to $425 per share, while maintaining an 'outperform' rating on the stock.
"Our partner checks have been incrementally strong around Co-Pilot interest/deployments with Microsoft customers and ultimately we estimate this could add another $20 billion to Redmond's top-line by FY25," he added. "We also believe Redmond is just starting to hit its next gear of growth with ChatGPT and AI also adding a new layer of growth to the MSFT story over the coming years."

dyor etc

[takeiteasy] 16/11/2023 05:13

www.msn.com/en-gb/money/other/chatgpt-plus-openai-stops-premium-signups-after-major-update/ar-AA1jYWdz

OpenAI has temporarily stopped people from signing up to the premium version of ChatGPT, after it proved so popular the company was unable to operate it.

www.proactiveinvestors.co.uk/companies/news/1033271/microsoft-debuts-two-new-custom-ai-chips-in-challenge-to-nvidia-dominance-1033271.html

www.msn.com/en-us/money/markets/can-nvidia-stock-reach-600-here-s-what-morgan-stanley-expects/ar-AA1k0jFR

dyor etc of course...

[takeiteasy] 15/11/2023 17:24

VALUATION AS AT 03 JANUARY 2023

The unaudited fully diluted net asset value per share (including income and
excluding shares held in treasury) was 401.2p as at 03 January 2023.

vs....

VALUATION AS AT 14 NOVEMBER 2023

The unaudited fully diluted net asset value per share (including income and
excluding shares held in treasury) was 602.2p as at 14 November 2023.

Well done to the team to break through 6 quid on the NAV (on the day coincidentally I read FTSE 100 turns positive for the year - some context) :) dyor etc

[takeiteasy] 15/11/2023 05:17

www.trustnet.com/news/13389847/the-five-stocks-bankers-trusts-crooke-is-buying-for-early-exposure-to-ai

Nevertheless, Crooke still sees the necessity in having exposure to AI for the long-term good of the trust’s returns. That is why he added five stocks to the £1.2bn portfolio that he expects to benefit from AI, regardless of who the biggest winners turn out to be. “We are cognisant of not being too early on what is still a developing technology and mindful of our commitment to grow the trust’s dividend and deliver long-term capital growth,” Crooke said. “To bridge the gap, we have narrowed our criteria in this area so that we specifically invest in companies that may be early beneficiaries of the adoption of AI but are also well run, cash-generating businesses that have the capital necessary to advance this technology while generating strong margins from their core businesses.”

I had to smile when I read this- FOMO being played out in all its glory...e.g. "I don't really want to buy all the AI stuff, but I can't risk possible tracking error.." So little by little more of these funds will take on a shape more akin to us :) dyor etc

Common feature is both MNL and Bankers seem to see Microsoft as the central AI holding - question is whether this has more room to go after recent moves - I noted these comments for one person's view and it may all be speculative thinking of course from one analyst so dyor of course etc ...
www.msn.com/en-us/money/taxes/microsoft-stock-is-worth-446-per-share-21-more-based-on-its-powerful-free-cash-flow/ar-AA1jVp6w

[tiltonboy] 14/11/2023 07:30

Sheppard added a further 12k shares

[takeiteasy] 14/11/2023 05:23

I am fascinated here by investment psychology - when the share price was about 3.50 or so a major research firm has a major Sell on the fund due the exceptionally poor prior long term performance.

The firm responded as has been explained and jumped to the start of a new AI trend in an all-in no-limits approach - that as luck would have it enabled short term performance )and i do reiterate this is not used for investment decisions typically) to outstrip I think every global equity collective available in the UK.
So what happens next is the big question.

Do firms ignore the trend entirely and pretend it does not really exist e.g. the chap with the UK value fund I posted earlier or jump in and accept the world of work and life is inexorably changing forever - and dip their toes in a little like BG above.

Our weekly pricing and imvho poor 5-10 year performance will mean many for now can simply ignore us here until longer term stats tick up and we provide all the right numbers for the analysts.

I keep going on about the discount as I feel this reflects the legacy and not the future - at some point people will look forward rather than back and if performance continues start to think this needs a premium rather than "bad boy" rating :)

And please take none of my comments as investment advice - I love the David and Goliath story here and watching a tiny player make a big splash in 2023 and watch the industry responses...

[takeiteasy] 14/11/2023 05:03

www.trustnet.com/news/13396338/baillie-gifford-managed-the-themes-that-will-dominate-growth-investing

The second growth theme for the future is artificial intelligence (AI). Hay stressed, however, that it is difficult to identify how AI will feed through different industries.

Instead, he is focusing on the “nuts and bolts” of AI, with companies such as Nvidia, which has done particularly well this year, but also semiconductor companies ASML and TSMC. Both have a quasi-monopoly in their respective sectors: ASML in machinery and TSMC in high-end manufacturing.

So it seems the AI message is starting to trickle into the wider fund management community - and very much endorses our approach here of picking the spades and shovels companies powering the infrastructure :) dyor etc

[takeiteasy] 13/11/2023 18:58

Nvidia unveiled the H200 on Monday, the company's latest graphics processing unit for training AI models. "It's very, very important to know that this is the one that everyone's been waiting for," Jim said during Squawk on the Street, adding that the product works faster as well.
www.msn.com/en-us/money/markets/jim-cramer-says-nvidia-shares-will-get-a-boost-from-launch-of-its-latest-high-end-chip/ar-AA1jRmgp

Be interesting to hear what they say on results day now :) dyor etc

[umitw] 13/11/2023 16:39

According to charts £5 is double top, I expect some sort of retracement. (Sell off or profit taking!)It may go up after this IMO. No advice is intended! -:)

[takeiteasy] 13/11/2023 16:27

Why ? Interested in your views. When I first came in here about 3.40 5 quid seemed an eternity away ... we may yet break 6 on the NAV at some point ...I guess many are waiting on Nvidia news due shortly before any decisions ?

[umitw] 13/11/2023 14:06

Looks like heading for £5 . Is it time to sell then?

[takeiteasy] 13/11/2023 11:11

hxxps://uk.investing.com/analysis/semiconductors-trigger-nasdaq-sp-500-breakouts-russell-2000-outlook-mixed-200593959

some what of a relief to read given the strong semi bias in our portfolio structure - dyor etc of course

[takeiteasy] 12/11/2023 07:04

Momentum chugging along - a nice quote about the number of US firms now engaging over AI :) dyor etc