Scottish Mortgage Invest... Share Discussion Threads

[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

[quepassa] 08/5/2020 09:13

PayPal closed the day 14% up and surged to all time high reporting record day of transactions that surpassed even Black Friday and Cyber Monday.

PayPal isn't just Ebay. It is the leading global payment method for all auction websites and a mainstay of other online commerce and sellers,both small and large.

PayPal also have an e-wallet/payments system called Venmo and are increasingly active in credit cards.

But a major new stimulus in the revolution towards digital payment and the hastening demise of cash has been the COVID epidemic. Most UK shops are now reluctant to accept cash, if they will at all - and this phenomenon will stay, both in the UK and in other countries where habits are fast changing. Paypal will address this exploding market with new contactless payment initiatives.

PayPal is set become an increasingly pervasive leader in the rapidly growing world of electronic payments, contactless payments and the online payments world.

ALL IMO. DYOR.
QP

[quepassa] 07/5/2020 15:10

1.

Spangle.

Thank you. -Long may the investment gods continue to smile bountifully upon you.

2.

lord lolly.

PayPal up a stonking 11% at open to-day,upon release of their very upbeat 10Q/ quarterly report.

[spangle93] 07/5/2020 12:30

Thanks QP - I've enjoyed the HRI investment thanks to your heads up 2 years ago on that gem

[quepassa] 07/5/2020 06:25

Anyone fancy buying Amazon, Shopify, Apple, at a massive 30% discount?

Look no further than highly regarded Canadian General Investments quoted on both TSX and LSE.

Shopify (up 4,000% since 2015 listing in NY ) is CGI's top holding representing a 9% portfolio holding, with Amazon at 4.3% and Apple at 2.8%.


ALL IMO. DYOR.
QP

[lord loads of lolly] 06/5/2020 23:36

quepassa - I wouldn't be so sure about Paypal. Their high commission fees will almost certainly attract further challenger gateways to undercut them. And ebay is rolling out its own payments platform this year. Paypal will still be an option on ebay, but by no means the default any more.

[quepassa] 06/5/2020 15:12

Given the enormous global lockdown-related surge in internet shopping and services, it would not surprise me if PayPal were a significant beneficiary with a long way still to run.

ALL IMO. DYOR.
QP

[shavian] 03/5/2020 08:36

Oops, I hadn't reckoned with Elon's big mouth!

[quepassa] 30/4/2020 09:23

Indeed.

Baby thrown out with the bathwater methinks on this one.

ALL IMO. DYOR.
QP

[shavian] 30/4/2020 09:07

QP. Thanks for the steer to MPO. Verrry interesting spec sit. I had dabbled in it with modest success some years back but had forgotten about it. The NAV update this week is reassuring, not much of a drop from the January NAV, and what a discount!

[shavian] 30/4/2020 08:55

Wow. TSLA Q1 results. Wall St analysts all predicting losses. Actually made $16m net profit. Would have also hit a quarterly production record had the Fremont factory not had to close in the last few weeks of March. Great for ScoMo NAV!

[quepassa] 29/4/2020 15:00

NEW ALL-TIME HIGH OF 665p JUST PRINTED.

AS PREDICTED.

GO SCOMO.

[quepassa] 23/4/2020 16:11

expecting ScoMo to make a new all-time-high (over the February 660p high ) within a few days.

how life has moved on....and now internet stocks are considered by many as the new safe haven stocks and rightly so....

amazon making new highs again today....netflix numbers off the graph.....alibaba continues to dominate e-commerce in China...asml order book fuller than ever...and Tesla is now considered in every respect to have re-invented the car..

and all top ten ScoMo holdings.

all imo. dyor.
qp

[quepassa] 22/4/2020 15:41

personally not sure about a pull-back...

internet/ e-commerce and digital/media-streaming stocks have gone ballistic - and rightly so - with likely more to come.

all imo. dyor.
qp

[panshanger1] 22/4/2020 15:14

All quiet here Taken a bit more off the table Hope for a pull back -if this is a bear market rally -to get back in If not it's been a wonderful investment