Manchester & London Inve... Share Discussion Threads

[takeiteasy] 10/1/2024 05:48

"December was also a positive month as the Markets enjoyed the (predicted) Santa
Rally although the performance of MSFT during the month made our December performance more muted". - as ever an honest and spot on assessment in our fact sheet.

Since 4/12 MSFT has been stuck in the tightest of tight ranges not budging an inch and it now seems when this stock is stuck the fund becomes stuck due to 30%+ holding size - but is a help of course in moderating volatility for those who prefer less is the other side of the coin.

Well MSFT closed last night within a inch of breaking out of this tight range...so a small further push and we may escape...wdik of course as it may fail again...but if the MNL fund does start to move up again this will confirm to me why I suspect :) dyor etc

[superadams] 09/1/2024 19:24

Nvidia hits a new high of 543 bucks.

[takeiteasy] 08/1/2024 15:48

First day of the "bounce" for a while and nice that the MMs will let you get back in for 5.38 given the moves in some of our larger holdings :) dyor and no advice intended...

“I think it’s still a new year, the same bull market with the same risk,” Adam Turnquist, chief technical strategist at LPL Financial, said. Last week’s losses coupled with Monday’s moves on the 10-year yield have given investors “enough confidence to step back into tech,” he said. from CNBC.com


hxxps://stockhouse.com/news/press-releases/2024/01/08/amd-reveals-next-gen-desktop-processors-for-extreme-pc-gaming-and-creator

hxxps://uk.investing.com/news/stock-market-news/top-pick-nvidias-potential-upside-is-significant--new-street-research-432SI-3290615

all helps :)

[takeiteasy] 05/1/2024 12:30

Also to add a well done to the team for adding a new position in Ansys at 4% just before a 20% rise on the back of a proposed trade sale - you can call this good luck or good judgement but helps to partially explain why the NAV has remained quite stable...there is no one better in UK at reading the US markets at the moment imvho :) dyor etc

[takeiteasy] 05/1/2024 12:19

hxxps://mlcapman.com/wp-content/uploads/2024/01/MLIT_Factsheet_202312.pdf

In response to the last post the detailed comments from the firm (out today) reflect similar stance about a cautious view for 2024 - for my S&P 500 part of the portfolio this fits the bill perfectly and while other niches may outperform in pockets near term this sits in the perfect part of the risk curve higher performance and lower volatility relatively- that is sometimes hard to find (using 2023 stats and not earlier ones please note where this absolutely did not apply!) - no advice intended of course and dyor

[giltedge1] 05/1/2024 10:51

I am out 5.40 good gain 2023 as TIE said hard to see repeat this year, good growth companies, but I already have exposure to Microsoft.

[takeiteasy] 29/12/2023 07:27

perhaps all these analysts have been guilty now of hyping up things too much i.e. you can only read these articles so many times .....is Microsoft cheap or expensive at the moment with 32% of our fund invested there...dyor etc

[takeiteasy] 28/12/2023 22:17

there may be still some further gains in 2024, but I do not expect us to outperform the market in the way we did last year..the analysts do have some fanciful targets for our holdings I accept...I will try to keep an open mind...NAV does not seem to be moving much at the moment so not expecting much for the year end NAV update provided in the New Year. dyor etc

[tiltonboy] 28/12/2023 16:15

They did have an open-ended version at one stage but closed it years ago. Can't see them doing one again

[giltedge1] 28/12/2023 16:08

Nice recovery 2023, stuck to same tech ai strategy & rewarded. Now showing nice profit & in right sectors for growth. Analysts,still backing Microsoft, nVidia, ASML etc. Only concern only fund ml has, suppose will launch Unit Trust when proven track record, see no reason to sell as still decent discount & good exposure to growth shares + dividend paid out of capital gains.

[takeiteasy] 28/12/2023 10:41

hxxps://uk.investing.com/news/stock-market-news/top-ai-trusts-looking-to-win-big-in-2024-revealed-3281949

Tiny bit of publicity much needed as any final acts of buying seem to have dried up for 2023 - roll on 2024. MMs appear to have improved the spread slightly possibly in response to this article as they are living in hope a new buyer(s) may appear :)

dyor etc etc

[takeiteasy] 27/12/2023 10:34

Very fair point- but this is a very different fund from 3 years ago as we all know.

I think progress from now on may be a lot slower in relative terms as the bounce moves beyond the magnificent seven tech stocks. The very low level of trading shows I think how people assess the risk/reward at this point.

I think the fund will have to reassess its holdings weightings near term as these do not now make the sense they did when the price of the fund was at the level a year ago. If our manager persists with top two holdings weights being >50% then this will I think discourage buyers but that is only my view and not advice intended etc dyor.

[umitw] 27/12/2023 10:04

With respect , this is only valid if you bought in when it dipped.But investors bought more than 3 yrs ago are still waiting to break even!I read the same article, however I don't agree with their recommendation. There are other techs that performed better and did not drop so much within 3 yrs.IMO the volatility of the fund is the most important factor.As we are investing not trading, we should focus on this ! DYOR no advice is intended.??

[takeiteasy] 23/12/2023 10:13

www.trustnet.com/news/13399726/trusts-that-have-beaten-the-nasdaq-this-year

public confirmation that we are the top global fund in 2023 YTD performance (according to trustnet), beating the nasdaq and our two main rivals by a huge margin of percentage points (all noted on the report)

not a clue what will 2024 bring but 2023 has been an enjoyable one after some lean years prior to this!

dyor etc

[takeiteasy] 21/12/2023 16:31

hxxps://www.msn.com/en-us/money/markets/3-magnificent-seven-stocks-with-50-to-125-upside-in-2024-according-to-wall-street-analysts/ar-AA1lQbgB
hxxps://www.msn.com/en-us/money/news/analysts-eye-amd-and-nvidias-ai-rivalry-who-leads-the-tech-race/ar-AA1lRLKG

One analyst now has a share price target for Nvidia at $1,100 or 125% upside in 2024 and $200 for AMD.

Interesting turn around late yesterday and a decent day for once across all our portfolio stocks - micron chip news about high pace of AI adoption helpful ....

dyor etc

[shavian] 20/12/2023 18:07

It seems there is disappointment that the NAV did not rise as far as expected today. If it drops again tomorrow I'll top up.

[takeiteasy] 19/12/2023 07:00

hxxps://fortune.com/2023/12/15/nasdaq-100-new-record-interest-rate-cuts/?ref=biztoc.com

Although our 30% holding in Microsoft has been flattish over the week (ditto AMD), gains picked up in other holdings - Broadcom up 7%, Nvidia up 5%, Oracle up 4% Arista and Alphabet and ASML all up c.3% so we should reach a new NAV high for 2023 on Wednesday (if no set backs today).

Nvidia is close on its ATH now which does help given the 20% portfolio weighting..dyor etc

[takeiteasy] 17/12/2023 09:38

a vision of the future world - arriving already :)

[takeiteasy] 15/12/2023 09:36

We sit now with a discount of under 10% pretty much the same as SMT and ATT so on an even footing really.

Our NAV barely moved over the month and analysts are discussing valuations and whether a holding like Nvidia and AMD still have room to grow....dyor etc

hxxps://www.benzinga.com/markets/equities/23/12/36270327/nvidia-stock-remains-a-bargain-despite-more-than-tripling-in-2023-says-bernstein-analyst-cheapes



hxxps://uk.investing.com/news/stock-market-news/why-is-nvidia-stock-trading-higher-friday-3271859

[bluetooth] 14/12/2023 11:06

AJ Bell also shows 5.9% but all their info is way out of date.

[umitw] 14/12/2023 09:51

Sorry I was looking at KIID from morning star. It shows 5.9%

[takeiteasy] 14/12/2023 07:36

Nvda is not 5.9% but c.20% - check the latest fact sheet...
hxxps://mlcapman.com/wp-content/uploads/2023/12/MLIT_Factsheet_202311.pdf

[riskvsreward] 14/12/2023 07:33

This trust is used to be on much greater discount compared to att and pct but is now on par or even lower discount, so it is hot now and perhaps a bit overbought. I have top-sliced a bit but know it may go higher with current bullish market mood.