Scottish Mortgage Invest... Share Discussion Threads

[hazl] 02/11/2023 17:27

Plenty of outstanding companies that are in the rest of the fund which drew me in to them this time.

[steeplejack] 02/11/2023 17:06

Thing is,Moderna has been such an appalling performer that it probably no longer figures in SMTs top five holdings.The greater part of the damage has been done Maybe Slater and team should blame James Anderson for this exceptionally poor investment decision :)

[lord loads of lolly] 02/11/2023 16:11

takeiteasy - that depends entirely on how they view Moderna's long term prospects.

SMT's managers have openly stated they invest for the long term & therefore don't try to time markets.

So they're unlikely to be swayed by short term holding dips unless they feel a) these are unjustified & decide to add or b) these are a signal of likely medium/long term prospects & decide to reduce.

[takeiteasy] 02/11/2023 15:57

hxxps://www.msn.com/en-us/money/companies/moderna-stock-falls-as-sinking-covid-vaccine-demand-drives-steep-loss/ar-AA1jgj5b

agony to watch this drip dripping down and down....surely they cannot justify keeping this now as their largest holding in the fund?

[quepassa] 02/11/2023 14:14

Palantir.

UP 20% in pre-market on blow-out Q4 figures.

All those years of growing pains are now going to explode into exponential increases in revenue and profitability.

Growth will be driven by an increasingly difficult geo-political world where maintaining cyber security and cyber survelliance are vital and becoming an ever greater spend for corporations and government agencies.


ALL IMO. DYOR.
QP

[hazl] 01/11/2023 18:01

Well still happy to have a toe in.
Interesting stocks.
Interesting management.

[septblues] 31/10/2023 13:18

it's the buyers that do that and not the fund itself. Different buyers would bias it differently.

[steeplejack] 31/10/2023 11:22

Whether you regard SMT as a proxy tech fund or not,recently the stock has been moving pretty closely with the Nasdaq.The NAV is down some 10% over last two months.I think SMT migrates to technology because that's where it perceives growth prospects.SMT is a growth fund.

[septblues] 31/10/2023 09:44

there should be no correlation between SMT and QQQ, S&P, Dow,

there should be no Beta just Alpha

[lord loads of lolly] 30/10/2023 11:49

takeiteasy - a lot of people seem to view SMT as a tech fund.

But the FT suggests that's not really the case:
markets.ft.com/data/investment-trust/tearsheet/holdings?s=SMT:LSE

I guess you could argue some of the Healthcare & Consumer Cyclical stuff has a heavy tech bias.

But I think the misapprehension's more down to SMT's recent strong historical associations with holdings in Tesla, Amazon etc. etc. These made a lot of the running in terms of SMT's overall outperformance a few years back. And many investors probably still link SMT almost exclusively to companies like that as a result.

[takeiteasy] 30/10/2023 07:20

SMT being pushed in the telegraph as well over the weekend - reading the factsheet they use the FTSE all world as their reference index - so on this basis the tracking error over 5 years is much less than compared to QQQ. Perhaps they view it that they have some consumer goods firms within the portfolio and cannot stretch to using a more tech related index....I personally see this very much as substantially a tech fund hence my logic above,....

[hazl] 29/10/2023 11:53

Thanks livew!

[hazl] 29/10/2023 11:53

How do you think QQQ will fare going forward takeiteasy?

[livewireplus] 29/10/2023 10:57

https://www.thisismoney.co.uk/money/investing/article-12681079/AI-flies-flag-Scottish-Mortgage-time-buy.html

[takeiteasy] 27/10/2023 16:27

You can always debate benchmarks of course - Invesco QQQ tech trust up 109% over 5 years vs 39% for SMT from HL so c.60% down from this index over 5 years - was what I was referring to....quite a decent period to be that far under arguably...

www.trustnet.com/news/13394578/scottish-mortgage-shareholders-have-gone-from-discomfort-to-pain

They have selected different benchmarks for their 1 year comparison

[lord loads of lolly] 27/10/2023 10:42

takeiteasy - you talk about "5-10 years" & "short term underperformance" in the same breath.

In reality the two are very different. Over the past 10 years, SMT performed outstandingly. Over the past 5, less so - though not a disaster. Over the last 2, best not go there.

I'd also query the benchmark you've selected.

[takeiteasy] 27/10/2023 06:27

YTD performance of SMT -11% vs UK LSE global tech IT (selected only by large cap, profitable AI linked themes - zero PE/China etc) +31%....42% drift...(no recommendations implied of course)

We all want SMT to succeed as the ideas can be great to look for long term strategic winners but their stock selections have never in my living memory (past 5-10 years) caused such incredible short-term under-performance against rivals and the benchmarks...imvho....

[lord loads of lolly] 20/10/2023 21:30

hazl - if steeplejack (or anyone else) honestly thinks they can significantly influence SMT’s price with a few BB posts, they’re seriously deluded.

[hazl] 20/10/2023 17:12

He is having to post a lot to put people off.

[lord loads of lolly] 20/10/2023 16:38

steeplejack - barring any major difference in fees or tax implications, I suspect long term performance will be top of most people's priority list.

And yes, SMT will be putting some new investors off right now as a result.

But these things can change, though there's never any guarantee of course.

[steeplejack] 20/10/2023 15:57

There are so many other investment interests available nowadays with ETFs etc,i think the 'traditional' investment trust could be in decline.