Scottish Mortgage Invest... Share Discussion Threads

[quepassa] 04/6/2020 14:55

-CREATIVE DESTRUCTION IN THE AGE OF CORONAVIRUS-


Webinar Tuesday 9th June at 4pm hosted by Master Investor & QuotedData.

The webinar will be featuring ScoMo's Corporate Strategy Director.

Agenda sounds fascinating.


ALL IMO. DYOR.
QP

[quepassa] 04/6/2020 14:51

Avis Budget Inc (NASDAQ:CAR) now PLUS 100% at $28 since mentioned less than a month ago at $14 on 8/5 in post 862.

[quepassa] 04/6/2020 05:34

Yesterday two new ALL TIME HIGHS:-


1. ScoMo at 751p.

2. Herald Investment Trust at 1548p.


For such an outperforming Trust, Herald still has a significant c. 11% discount-to -NAV of 1742p


ALL IMO. DYOR.
QP

[quepassa] 02/6/2020 15:28

1.

A recent and very interesting article appears on the outstandingly good Baillie Giff/ScoMo website about their methodologies for valuing unlisted investments, including what they term occasional "ad hoc" revaluations.

Would agree that a major "event" has occurred which may call for a re-rating of the SpaceEx holding.


2.

I would like to see a piece from Baillie Gifford/ScoMo on the ongoing current debate over the listing of Chinese equities on NASDAQ versus the HKEX, as more and more Chinese companies are now using HKEX as a means of raising capital, diversification and as international trade tensions increase.

ALL IMO. DYOR.
QP

[davvero] 02/6/2020 14:57

I look forward to the dividend

[29palms] 31/5/2020 20:04

FWIW
As at 31st March 2020 portfolio valuation includes, as Unlisted Equity, Space Exploration Technologies and valuation circa £57.2m (2019 £50.5m)

Given momentous and successful events this weekend in SpaceX launch and dock with ISS I would imagine valuation of SpaceX holdings will merit a healthy increase in value.
As always,
DYOR

[hutch421] 28/5/2020 08:20

Yeah - took your message on 8th May on board and after a bit of research I took the plunge. Happy I did at the moment!

[quepassa] 27/5/2020 19:34

Post 862 of 8th. May refers re AVIS BUDGET INC (Ticker CAR) at $14.

Less than three weeks later and AVIS is now already UP by a stonking 50% at $21.


With global lockdown easing, will people/employees favour public transport (trains/planes/coach) or private cars for distance travel?

With Hertz in Chapter 11, which of Avis or Hertz will renters be more inclined to use?

Still see $50 within two years if not significantly sooner.

ALL IMO. DYOR.
QP

[uapatel] 21/5/2020 15:59

As long as you can look beyond the volatility, this is a good Investment Trust. Long Term Growth, low charges and the opportunity to be involved in some privately held companies, ie SpaceX.

[dennisbergkamp] 21/5/2020 15:54

Joined sooo late into this party! Gutted but I'm in

D

[quepassa] 21/5/2020 14:33

SHOPIFY (not to be confused with Spotify).

ScoMo have 1% portfolio holding of Shopify.



1.
Good article on page 8 in today's FT about Shopify's "incredible" shift to online sales. - One of the good reasons why CGI's near 10% portfolio holding is compelling.

2.
An astonishing statistic as we today celebrate Shopify's 5th birthday since IPO.

$10,000 invested in Shopify at IPO is today worth $457,692.
Total Return 4,478%
Average Annual Return 114.55%


ALL IMO. DYOR.
QP

[scrabster1] 20/5/2020 15:29

Cool thanks.

[scrabster1] 20/5/2020 15:16

Does smt hold Spotify ?

[quepassa] 20/5/2020 15:12

Spotify graph going ballistic.

Expecting them imminently to reach and storm through the post-IPO high of $195.

It would not surprise me if Spotify doubles by the end of the year.

An undervalued stock.

ALL IMO. DYOR.
QP

[quepassa] 19/5/2020 16:16

PayPal up 25% since 1st May at new $150 all-time-high

[rndm355] 15/5/2020 15:30

some commentary on SMT here:

[spangle93] 15/5/2020 08:24

Final results out today.
- £10bn market cap
- 0.36% ongoing cost (half to 1/4 of some funds, e.g. 1.7% ongoing charges for MMIT)
- 4% increase in dividend
- plan to lift non-listed equity component to a maximum of 30%

Normally I don't plough through all the management stuff for a collective investment, but the managers' report is a ripping read,

"There's not much evidence that capital market ideology will take much notice of the crass failings of its prescriptions. Managers and consultants will continue to talk to themselves of tracking errors and Sharpe ratios as risk controls (the reader is fortunate if they are unexposed to such terms) whilst their clients suffer. ...

Normally investors, speculators and traders leap restlessly onto new paradigms however questionable their underpinnings. But that hasn't happened despite, for example, the clear evidence of the power of the internet, the increasing returns to scale it tends towards and the consequent deep competitive moats it offers. Instead of embracing exponential growth, investors and asset allocators have fled. Performance chasing has its own evils but replacing it with endless rebalancing towards 'value' strategies backed by a blind conviction that reversion to the mean is inevitable has been an investment tragedy....

Whilst the collective investment world has shown little enthusiasm for shifting to new hunting grounds the market has adapted, as it does, without most participants... note Amazon and Alphabet combined are more highly capitalised than all quoted British companies. It's not clear that this is unjustified. Moreover the perception of relative vulnerability has changed. Most investors craving safety now see Amazon and its kin as far less exposed to economic angst. In general our quoted portfolio has therefore become more conventional and gradually, then suddenly, less differentiated from the index than in the past."


or in terms of investment
"Not only does our reputation open doors when we seek out opportunities, but we have also seen an increasing number of private companies approach us in recent years. .. We go on to select only a very few of the opportunities available. Over this financial year, we considered several hundred private companies but invested in only seven.

Ant is the largest unlisted holding (2.3% of the total) and also the largest such company by market value in the portfolio...Were Ant to be listed on the London Stock Exchange (LSE), it would be the largest company in the FTSE 100 based on its size.

[ali47fish] 14/5/2020 13:40

i think SMT is an IT to hold for ever i am hoping for a pull back to add

[tonsil] 12/5/2020 15:40

QP I note CGI is also loaded up with railroads and airlines. This is why it's at a huge discount perhaps. Also shopify is one of many web shopping DIY kits. Vulnerable to all sorts.

[hey50] 12/5/2020 12:50

QuePassaYou have made some very astute observations to date, what's your take on SMT? Are we due a pull back or, with the portfolio, very well situated in the current climate?

[hey50] 11/5/2020 11:08

Think I'll hold a little longer then looking at that list! ?

[peterbill] 09/5/2020 11:22

Thought I'd refresh SMT holdings ... to see how they are placed for the recovery


1 Amazon.com 9.3%2 Tesla Inc 8.6%3 Tencent 6.5%4 Alibaba 6.5%5 Illumina 6.2%6 ASML 3.8%7 Kering 3.1%8 Netflix 3.1%9 Delivery Hero 3.0%10 Ferrari 2.7%11 Meituan Dianping 2.5%12 Ant International 2.3%13 NVIDIA 2.0%14 Ginkgo BioWorks 1.8%15 Spotify 1.8%16 Inditex 1.6%17 Alphabet 1.5%18 Tempus Labs Inc 1.5%19 You & Mr Jones 1.4%20 HelloFresh 1.4%21 TransferWise 1.1%22 Intuitive Surgical 1.1%23 Vir Biotechnology 1.0%24 Atlas Copco 1.0%25 Workday 1.0%26 Shopify 1.0%27 Zalando 1.0%28 Zoom Video Communications 0.9%29 Trip.com Group 0.9%30 GRAIL 0.8%31 HDFC 0.8% Total 81.2%

[quepassa] 08/5/2020 17:11

A particularly rewarding trade I made was buying Avis Europe during the darkest days of the '08 financial crash.

Will history repeat itself?

Avis Budget Group Inc (ticker NASDAQ:CAR).

Fifty bucks a few months ago. Crashed to eight bucks in late March. Rebounding quickly. Now at fourteen bucks.

Seems to me that as lockdown lifts, a lot of people will need to hire a lot of cars.

CAR's recent Q1 Statement and Pandemic Response Actions make fascinating reading.

Looking for 400% return over 24months.


ALL IMO. DYOR.
QP