Scottish Mortgage Invest... Share Discussion Threads

[jockthescot75] 04/4/2024 17:50

He's a bit of a stubborn prat LLL. I'd just filter him.
Let's concentrate on SMT.

[quepassa] 04/4/2024 10:03

Six weeks ago on 21st. February the stock price of Root Inc. was US$8.67.

Today the price is $66.75

+700% in six weeks.

NASDAQ:ROOT

Redefining car insurance by Machine Learning and AI

[lord loads of lolly] 04/4/2024 10:00

quepassa - every time you re-post the same thing, I'll be asking the same question:
And Root’s exact relevance to SMT is?

I'd give up if I were you.

[quepassa] 04/4/2024 09:28

Six weeks ago on 21st. February the stock price of Root Inc. was US$8.67.

Today the price is $66.75

+700% in six weeks.

NASDAQ:ROOT

Redefining car insurance by Machine Learning and AI

[lord loads of lolly] 04/4/2024 08:53

quepassa - I repeat - and Root’s exact relevance to SMT is?

[hazl] 04/4/2024 07:06

Please don't sell Space X!


This will be the first commercial space walk!

'
SpaceX
@SpaceX



The Polaris Dawn Dragon is headed to vacuum chamber testing! SpaceX teams celebrate Dragon's departure with


@rookisaacman
, @KiddPoteet
, @Gillis_SarahE
, and @annawmenon
ahead of launching to orbit this summer

[hazl] 04/4/2024 07:05

Well spotted Que did you get in early?

[quepassa] 04/4/2024 05:28

Six weeks ago on 21st. February the stock price of Root Inc. was US$8.67.

Today the price is $66.75

+700% in six weeks.

NASDAQ:ROOT

Redefining car insurance by Machine Learning and AI

[lord loads of lolly] 03/4/2024 22:05

quepassa - and Root’s exact relevance to SMT is?

[quepassa] 03/4/2024 18:19

Six weeks ago on 21st. February the stock price of Root Inc. was US$8.67.

Today the price is $66.75

+700% in six weeks.

NASDAQ:ROOT

Redefining car insurance by Machine Learning and AI

[hazl] 03/4/2024 15:10

Abnd the market changes it's mind and fights back.

[hazl] 03/4/2024 08:21

Taken, in part, from another RNS of an interested party, this shows what incredible investments we have.
Any weakness shown in share price terms is purely down to the geopolitical effects everywhere presently in my opinion.
No less real of course, but I don't believe ought to be misconstrued, as the SMT failing to deliver.
It has cherry picked cutting edge technologies, some privately owned but could well be publically listed one day.



'On the 4 March 2024, SpaceX launched 53 payloads on the Falcon 9 Transporter-10 smallsat rideshare mission, SpaceX's first rideshare mission of 2024. This was the tenth dedicated rideshare mission organised by SpaceX. This mission included four Spire Global satellites ,which were launched to enhance global coverage for Myriota, and Hubble Network.
The satellites will provide secure, low-cost and reliable IoT connectivity, improved security, faster data access and enhanced device control capabilities. ICEYE has already made significant strides in satellite deployment, with 34 SAR satellites launched since 2018. The latest launch was a success with successful communication establishment made with all three ICEYE SAR satellites launched. Ubotica Technologies successfully launched its ground-breaking CogniSAT-6 mission. CogniSAT-6 will revolutionise earth observation by providing actionable live earth intelligence for real-time decision-making. '

Thanks to Seraphim.


IMO

[lord loads of lolly] 02/4/2024 13:59

septblues - looks like we're broadly in agreement then, which is always good!

NAV discounts may also have narrowed on other ITs recently. But not, I suspect, to anything like the extent - or with anything like the speed - SMT has.

Check out the sudden peak from mid-March 24 (when Elliott vastly increased their holding) on the Premium/Discount graph here: www.hl.co.uk/shares/shares-search-results/s/scottish-mortgage-it-plc-ordinary-shares-5p

[septblues] 02/4/2024 11:32

LLL
Yes, that's what Investment Trusts are supposed to do - buy shares when discount merits it and sell when premium merits it. They're using the company's cash to buy underpriced or sell overpriced assets (according to the market).

Other investment trust's discounts have also reduced in recent times

I agree SMT managers should take a longer term view on unlisted holdings and not yield to short term pressures.

SMT managers have a better view of NVidia than I.

[lord loads of lolly] 02/4/2024 11:05

septblues - I don't see it that way (for now at least).

Elliott's stakebuilding has given SMT managers a bit of a wake up call. Before Elliott's intervention, the share price was languishing below £8.00. In just a couple of weeks, the discount to NAV has significantly narrowed as the share price has risen nearer to £9.00.

Sure it'll fluctuate. But the turbo-charged share buyback would almost certainly not have happened without Elliott's intervention (it hadn't, on anything like this scale, previously). And it's largely that buyback that has driven the share price higher.

Providing SMT managers stand their ground on the unlisted holdings, I'm currently quite relaxed about Elliott's shake up. Particularly if it means selling part of their Nvidia stake to fund future buybacks.

[septblues] 02/4/2024 08:01

at some point in time they will want to decrease
Boards are now better briefed and armed on how to deal with active shareholders whose techniques are now public domain and in text books. It's not rocket science. In this case they are using our money to buy our shares like US Corp buy backs.
Elliott should return to the swamps of Florida and practice their art there.

[lord loads of lolly] 01/4/2024 08:53

septblues - agreed. The question is whether they intend increasing from 5%. And we probably won’t know the answer to that unless/until they actually do it.

[hazl] 01/4/2024 08:21

Following my post 3436 on 19th March we have this acknowledgement in the Guardian of just how cutting edge this stuff is.

It is the start of a comletely new revolution I believe.
The next sea change to the internet.
A progression if you will.

[septblues] 31/3/2024 19:21

Elliot have only 5% - SMT is a company - company law applies

[ayl30] 31/3/2024 08:24

Scottish Mortgage Investment Trust won't bow to activist Elliotthttps://www.thetimes.co.uk/article/633cf194-a79a-4b45-b095-0b36db59be9d?shareToken=38266a9b8c9b342caec39619a75635cc

[hazl] 31/3/2024 07:03

WOW

'Investment trust resists call by Elliot to sell stakes in Space X and Byte Dance!


Su Times front page of business section.

[septblues] 28/3/2024 07:44

Investment Trusts are trading at wider than normal discounts for at least 2 reasons

1 an overhang from EU regulations forces Investment Trusts to double count, and report, on costs giving a misleading indication of performance. The industry has been lobbying about this and Hunt, in his March budget announced that HMG and FCA are consulting on this and will change the regulation following review i.e. they are making sure that they've missed nothing in eliminating this double counting

2 Pension funds specifically are investing more in longer duration assets and less in UK equities with the result that pension funds only have 2% of funds in UK equities. Hunt in his March budget addressed this and is changing regulation to encourage and force pension funds to invest more in UK equities.

The hope is that both these will skew the investment patterns in the UK which should help narrow the discounts in Investment Trusts.

It's interesting to note that Elliott invested after the March budget. Therefore one could surmise that Elliott invested due to the regulatory changes announced in the budget ie its a regulatory trade, which if done on a lower share number due to buy backs, gives a turn on the money invested. It is perhaps less to do with activist (asset stripping) reasons. When Elliott invested there's view that the AI theme has been overbought, the Mag7 30% increase since October was done and that rotation now implies industrials etc. There's no evidence that Elliott are better at Stock picking nor choosing advisors which investment theory tells one is an impossible game as mean reversion and sector rotations kick in.