Manchester & London Inve... Share Discussion Threads

[takeiteasy] 29/1/2024 19:49

hxxps://markets.businessinsider.com/news/stocks/stock-market-outlook-blackrock-double-upgrades-us-stocks-soft-landing-2024-1 dyor and no advice

[takeiteasy] 27/1/2024 07:39

Lots of bullish comments these days for our largest holding - let's see what they actually deliver in the results early this week :) dyor etc

“Not only is the company gaining massive mindshare, we see evidence of tangible commitments translating into real value creation for customers, which supports building financial tailwinds for Microsoft that should compound rapidly as reference cases emerge and incremental innovation continues to be announced and layered across the AI stack,” said Deutsche Bank.

“We contend that this is still not fully appreciated in current consensus forecasts and think estimate revisions can help propel the stock higher over 2024.”

[takeiteasy] 25/1/2024 16:29

discount remains high relative to our peers despite the nice rise today :) dyor

morningstar has us at 19.1% tonight...

[takeiteasy] 25/1/2024 06:32

hxxps://citywire.com/investment-trust-insider/news/james-carthew-tech-trusts-transform-their-returns-with-big-ai-bets/a2433976

Nothing new really but at least some of the industry figures have noticed us finally :)

....inevitably, after such a strong run, there will be questions about how much further the AI theme will continue to drive indices. The MNL team is cautious in the short term as markets fret about the timing of interest rate cuts. As it notes, we may see an uptick in inflation that unnerves investors. The trust has some downside protection in place with a short position on the Nasdaq technology benchmark.Nevertheless, when interest rate cuts do materialise, the team’s thinking is that this could trigger a ‘tsunami’; of money flowing out of money market funds and into equities. In the meantime, forecast-smashing results, such as those delivered by Nvidia in November, can drive individual stocks higher.

dyor etc

[takeiteasy] 24/1/2024 17:34

550k shares were sold recently looking back at the trades so that is 2.5m quid or so in actual money. Just do not know how much of that is still floating around...

Having trounced all rivals and the tech index in 2023, the reversion to mean argument implies that things may well tail off in 2024 - very earliest of days of course but 2024 YTD from morningstar
MNL +12% SMT -1% Invesco QQQ index reference +5%

Dyor and no advice intended.

[tiltonboy] 24/1/2024 16:15

679.3

Nvidia and Microsoft both up again today

[takeiteasy] 24/1/2024 08:21

ASML up at the open 7% so market seems to be cheered by the news ....dyor etc

[takeiteasy] 23/1/2024 12:34

hxxps://www.msn.com/en-us/money/companies/critical-chip-firm-asml-posts-30-surge-in-full-year-revenue-but-signals-slowdown-in-2024/ar-BB1hasU2



(Bloomberg) -- ASML Holding NV orders more than tripled last quarter from the previous three months as demand for its most-sophisticated machines soared, in a sign that the semiconductor industry may be recovering.

ASML is our 4th largest holding at 8%, but there may be a read over to the other chip holdings for 2024 /2025 chip demand forecasts :) dyor etc

[takeiteasy] 22/1/2024 14:28

This stock overhang has created an interesting situation for the fund imvho.

The end December fact sheet was sent out with share price at the current level with NAV around 6 quid.

We we have NAV more than c.10% higher with a doubling of the discount to 20%.

No advice intended and dyor but certainly a watch and wait until the overhang clears :)

[umitw] 19/1/2024 18:14

Nasdaq 100 is flying, semiconductors are flying on expectations of AI.Good luck to holders & takeiteasy. -;) I don't hold MNL anymore! I bought ARM holdings.

[takeiteasy] 19/1/2024 06:03

hxxps://www.msn.com/en-us/money/markets/tsmc-bullish-on-ai-demand-forecasts-20-revenue-growth-this-year/ar-AA1naJnS

selected edits from the link
Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker and a major Apple Inc and Nvidia supplier, said at an earnings conference that AI represented a major opportunity....strong ramp of our industry-leading 3-nanometer technology,".....strength in its high-performance computing segment that includes AI chips..forecast solid growth for this year, adding that it expects inventories to return to a healthy level.

happy days and dyor etc

[takeiteasy] 19/1/2024 05:09

Our manager has bought some shares to help our cause (well done and thank you!) but we still have a discount of 20.63% according to HL website today even after the small share price rise yesterday.

I suspect the lack of liquidity is hurting us and discouraging others from building a larger position - also there has not been that many shares about to buy at times too. If our manager reads this website can he take this as a polite request to record his thoughts on the reasons on twitter as I would be interested - thank you.

On the recent merger of two of our holdings that when combined account for >10% of FUM so worthy of comment
hxxps://uk.investing.com/news/stock-market-news/exclusive-the-buy-everything-market-is-over-synopsysansys-merger-provides-fertile-ground-for-this-stock-picker-3303678

“It’s all about semiconductors, with AMD (NASDAQ:AMD) and Nvidia (NASDAQ:NVDA) making new highs, and Synopsys has taken a lot of heat for its merger with Ansys (NASDA: ANSS). These are two great companies combining. Synopsys is well positioned to support the semiconductor market,” he said.
The Synopsis share price, which started to decline after mid-December, has fallen further since it announced this week it was buying Ansys for $35 billion.“The debate about whether they’re paying too much for Ansys or not will dissipate over the next year. I think Synopsys is a steal down here,” he added.

dyor etc

[takeiteasy] 17/1/2024 17:49

To back up earlier post - scores on the doors 2024 YTD in January this month so far:
SMT -1.4%
PCT +3%
MNL +7%

We seem to be keeping up the traction from last year - lols. If others want to sell/short against this I can only say good luck.

Dyor and no advice intended...

[tiltonboy] 17/1/2024 16:08

Wow 646.3

Discount back out at 20

[takeiteasy] 17/1/2024 14:52

Our managers state they are strongly against China linked investments (hence no TSMC/PDD/Apple) and lower margin plays like Tesla.

Surely they must raise their eyebrows in the last month when their choice may well have outperformed again (by excluding these due to specific issues for these stocks) and the market has rewarded them with extending the discount way beyond our peers like PCT who hold some of these assets.

dyor etc

[takeiteasy] 16/1/2024 12:24

Microsoft has been on a breakout and hopefully will help our NAV cause tomorrow - plenty of very interesting news updates to support the progress - dyor etc

Microsoft (NASDAQ:MSFT) – Microsoft will offer the “Copilot Pro” subscription for $20/month, allowing enhanced access to its AI. This subscription integrates AI into popular Microsoft apps, and the minimum requirement of 300 users for the enterprise version has been removed, making the service more accessible to smaller businesses, competing with Google in the enterprise AI market.

Microsoft (NASDAQ:MSFT), Vodafone (NASDAQ:VOD) – Vodafone and Microsoft have entered into a 10-year partnership to expand digital and cloud services to over 300 million customers in Europe and Africa. Vodafone will invest $1.5 billion in Azure-based AI and replace physical data centers with more efficient cloud services. Microsoft will become an investor in Vodafone’s IoT platform and help expand its mobile financial platform in Africa. The collaboration aims to improve customer service with AI, including a TOBi chatbot, and promote sustainability with “digital twins” for process improvements.

[takeiteasy] 11/1/2024 09:22

Nvidia 549 early trading....

[takeiteasy] 10/1/2024 19:04

nice one and add in the c.1% up today (both MSFT/NVDA up 2%) we are at 626p ish which is the high for the last 12 months (I think)...

We were around £6 NAV at year end so near enough 4% uplift already YTD (nasdaq index up c.1% YTD as context) and barely a ripple of a move in the share price ..

[takeiteasy] 10/1/2024 15:54

Within a literal nanosecond of Microsoft breaking out of the trading range at over 380 MNL share price starts to move again ...what a lols...

[takeiteasy] 10/1/2024 07:04

Another section of the fact sheet is the manager take on 2024..

"As such, we do not see the rocket higher in Tech stocks continuing especially in H1
2024. Our best guess is that H1 2024 could be a period of stagnation for Markets with any positive grind higher earned by continuing optimistic results announcements. Nonetheless, as we look at 2024 as a whole, we remain very positive for the following reasons ...We leave all these questions to you, but the opportunities are huge if they develop as we hope"


Lots of hope and lots of questions as they rightly point out - what they may like to add if they had space is the opportunity for some of the larger holdings that are still seen by the market as cheap - which is rather counter intuitive when the share price rise in 2023 has been so great ....dyor and no advice intended etc...

In turn, this contributes to a forward price/earnings-to-growth (PEG) ratio of 0.92. The PEG ratio is calculated by dividing the forward price-to-earnings (P/E) ratio by the expected growth rate. A ratio under one suggests good value. But clearly, it’s not just me that recognises this. Nvidia has an average price target of $653.89, 35% above the current share price.


hxxps://www.wsj.com/livecoverage/stock-market-today-dow-jones-01-02-2024/card/will-2024-also-be-nvidia-s-year-here-s-what-wall-street-forecasts-for-big-tech-dL65Ea6aUEC5RjkNI7WQ (nice graphic!)

hxxps://www.msn.com/en-us/money/topstocks/3-stock-market-predictions-for-2024-the-s-p-500-gains-apple-falls-behind-microsoft-and-cybersecurity-and-artificial-intelligence-ai-stocks-soar/ar-AA1mGsKt (bullet point 3!)