Scottish Mortgage Invest... Share Discussion Threads

[quepassa] 13/11/2024 11:00

Read This.

1. Sister-Fund Baillie Gifford US Growth has dramatically and rapidly narrowed its formerly wide DISCOUNT-To-NAV to circa 3.5% (ticker: USA)

- Compared to ScoMo's current Discount-to-NAV of around 7.5%


2. If you want the Trump trade, BGUSA is 100% US exposure

- Compared to ScoMo's 55% US exposure.


3. If you want exposure to perhaps the most exciting private equity situation in the world - namely SpaceX-

BGUSA has 7.6% SpaceX portfolio holding

- Compared to ScoMo's 4.8% exposure


4. If you want Musk industry exposure, BGUSA has 10.9% (SpaceX 7.6% plus Tesla 3.3%)

- Compared to ScoMo's 8.9% (SpaceX 4.8% + Tesla 4.1%)

5. Saba Capital Management have now built a massive position of 22% in BGUSA

6. JP Morgan have now increased their holding in BGUSA to c 6.7%

7. BGUSA's 3.8% holding in Shopify increased 25% yesterday and is ripping.



BGUSA is looking very compelling in my view when weighed against the geo-political uncertainties perhaps now contained in some of ScoMo's 45% non-US holdings.



It appears to me that BGUSA may now be the agile frigate which ScoMo once was - as ScoMo has morphed into a super-tanker.



ALL IMO. DYOR.
QP

[hazl] 10/11/2024 10:46

Interesting LOLLY.
I just listened to a podcast that suggested we will have better returns in the next 3 to 6 months,risk on kind of thing, then after that rates /inflation could be higher, reference US since Trump.
These things affect the investments directly of course, as in Nvidia and the like as well as over here indirectly.


IMO

[lord loads of lolly] 10/11/2024 10:39

The discount to NAV at any given time is less relevant than the historical average NAV discount.

SMT has always held significant unquoted shares in recent years. But the relatively high discount to NAV really only kicked in around spring 2022 and has remained above the long term trend ever since.

What also kicked in around that time was high inflation & rising interest rates. So you could argue that as interest rates drop & inflation reverts to low single digits (albeit with blips), SMT’s price will benefit. Indeed, this appears to have started happening already, with the fund showing greater resilience & reduced volatility of late. Though of course the more aggressive buybacks this year also helped. It stands to reason that a speculative growth fund will perform better when putting your money in safer alternatives generates markedly less than it used to.

As for geopolitical influences, I suspect Trump will be good for SMT given its high US concentration. However, I fear he’ll be bad for almost everything else, particularly security. Which could have an even greater (negative) impact on markets in general. I guess the question will be whether he follows through on half his off-the-cuff pre-election commitments.

[hazl] 09/11/2024 09:22

Good to hear views.
The geo political environment can be added to the mix as well for effect!

[arja] 09/11/2024 08:51

have not checked out SMT for quite some time as now live in OZ for a few years . chart looks good but now reached strong resistamce area and i must check if discount to NAV . Means less with this trust as so many unquoted investments or used to be :)

[hazl] 08/11/2024 07:26

There is so much of interest and worth reading the detail .
For me they address the problem of the laggards as well as the successes.
Moderna Northvolt.
The first, as I thought, they are still thinking long term.
The latter, well nearly every company of this kind has suffered, hasn't it? The industry has faced delays, except perhaps for the recycler Redwood, which they have a stake in.
Space X exciting!

Understandable purchase, the following, but brave if I might say so, in the current environment.

Well done them.

'Chinese electric vehicle ('EV') manufacturer BYD. Despite fierce competition in China's EV market, BYD's vertical integration and focus on hybrid vehicles have positioned it as a dominant player with significant international potential. We believe its business will continue to internationalise.'

Emerging growth interesting and capital reallocation will take me time to absorb, but I come away from the initial reading quite excited to be part of this .
It is a very wide reach of extremely important sectors going forward, in my opinion.

IMO

[hazl] 08/11/2024 07:11

Will read the rest with interest but couldn't resist writing this beforehand.

'
AI

Writing the interim report this year was notably different. I didn't start by sitting down with a blank page. Instead, AI systems competed to provide me with summaries of the most significant events over the past six months. They tried to explain stock price movements and even suggested topics that might resonate with readers. The rising quality of their insights could be unsettling, yet I share Professor Ethan Mollick's belief in "Co-intelligence." Rather than replacing human creativity, these systems are enhancing our productivity, efficiency, and imagination. Even without further breakthroughs, their impact on business will be profound.

'

[hazl] 08/11/2024 07:11

Financial results.


This...

'NAV has gained 88.9%, outpacing the index's 66.9% rise. Looking further back, over the last decade, our NAV has grown by 347.8%, compared with 211.3% for the index.'

and dividend.

IMO

[bigwilly1986] 07/11/2024 21:56

I think they have bought 135m which must have cost them the 'at least 1 billion' mentioned

[bigwilly1986] 07/11/2024 21:52

Do we think that Baillie Gifford funds will thrive under Trump policies? Surely the buybacks will taper down soon, they are reaching the planned limit aren't they?

[quepassa] 07/11/2024 17:21

MercadoLibre - ScoMo's largest position at 6.3% portfolio holding.



DOWN 15% in today's session


- as Lending Provisions Erode Profits

[quepassa] 07/11/2024 16:56

IonQ

UP 38% in today's session so far.


and rising.

[quepassa] 07/11/2024 16:54

Thank goodness that I have been filtered by our resident buffoons.

Peace at last.

Thing is, that lolly has done that at least three times in the past. But always comes back for more, just like the self-evident inveterate inebriate which he clearly is.

As well as being a buffoon and an inebriate, he is a pathological liar.

[lord loads of lolly] 07/11/2024 16:36

que passa - filtered.

Phew. The parrot has FINALLY ceased to be.

[quepassa] 07/11/2024 15:49

One month ago.

Post 3682 4/10/24.

IonQ

NYSE:IONQ


Now PLUS +125% in one month.




And rising.

[hazl] 07/11/2024 15:04

984.69 The estimated NAV.

[hazl] 07/11/2024 14:32

Peterbill you can repeat that post 3714 as many times as you like!

And having these is the nearest I am likely to get to having a Ferrari!

[hazl] 07/11/2024 14:29

Anyway well done SMT!

[hazl] 07/11/2024 14:29

I don't mind you putting your tips on here Q but perhaps less is more in terms of repeats?

Loadsoflolly is right to some extent.

Moderation is the thing.

[quepassa] 07/11/2024 14:16

Palantir closes UP 8.5% on today's session.


UP 33% over two days

and rising

[lord loads of lolly] 07/11/2024 13:55

Anyone else noticed how que passa’s turned into a parrot?

Posting the same irrelevant stuff, day after day. Wonder if/when it’ll cease to be?

[hazl] 07/11/2024 13:31

I am pleased to see more recovery.

[loss-leader] 07/11/2024 13:15

Moderna up 12% on quarter results

[quepassa] 07/11/2024 11:47

Palantir closes UP 8.5% on today's session.


UP 33% over two days

and rising