Scottish Mortgage Invest... Share Discussion Threads

[arja] 09/3/2021 14:04

no, actually about 2% as NTA is 1120 but will be now a bit more after nasdaq rally today . share price will not hold the 1094 level if nasdaq comes off after 2,30 pm when physical opens IMO

[fidra] 09/3/2021 10:28

Interesting USA at around yesterday’s asset value .

SMT still around 10% less .

[arja] 09/3/2021 09:18

missed intra day rally again but too obsessed with VMUK at the moment ! well done to those who did and nasdaq creeping up.

[arja] 09/3/2021 07:38

nasdax still down about 1.5% from level at UK close but might not affect SMT much as it now trading at about a 10% discount but today's NTA announcement likely to show a small fall . A pity it is not published earlier in the day as a few insiders will
know it now I guess .

[craftyale] 09/3/2021 07:30

Don't ever go shopping mid day......by the time I'd come home I paid 1050! :)

[purplepelmets] 09/3/2021 06:41

Likewise. In for a fair whack at 992

[craftyale] 09/3/2021 06:40

Made an initial buy yesterday after the gain from 950. More purchases to come.

[dexter1612] 08/3/2021 21:46

I do like a good chart, they definitely have a place for a day trader.

[hartleyjr1] 08/3/2021 21:09

Saltrader. Your post really confused me. The spreadsheet is *literally* the holdings of SMT & their daily price changes. My opinion doesn't come into it, it's just a price feed! Obviously they will be tweaking but I can only go on last published holdings.

[saltraider] 08/3/2021 20:54

Hi hartleyjr1, your 'spreadsheet' ... just like anybody elses' is just a captive to your prejudices. Don't try to kid yourself that it is actually scientific.

In the end, SMT is just a closed fund. It would be naiive to assume that the fund managers will be completely passive in how they manage it. My experience to date is that SMT is very well, very astutely, managed and I am extremely comfortable that I have a sizeable position (for me) in the Trust.

That said, I have definitely not bet the farm on SMT! :-)

[hartleyjr1] 08/3/2021 20:32

From my spreadsheet - Excel doesn't pick up on some of the share prices but still - for reference first % is daily change, second column of % is impact on SMT overall value - -3.75%. As you know, my feeling is that +70% after very solid growth in prior to March 2020 gives you little wriggle room. Great PMs at SMT, of that there's no doubt and hats off to how they traded Tesla but the fund is beholden to it's holdings which are generally still on impossibly high multiples...


1 Tencent 6.50% 642.5 -5.38% -0.35%
2 Illumina 6.10% 384.46 -3.61% -0.22%
3 Amazon.com 5.90% 2980.01 -0.68% -0.04%
4 Tesla Inc 5.10% 562.52 -5.93% -0.30%
5 NIO 4.80% 35.18 -7.69% -0.37%
6 Alibaba 4.60% 220.6 -2.82% -0.13%
7 Meituan Dianping 4.50% 308.8 -8.37% -0.38%
8 ASML 4.20% 503.72 -4.42% -0.19%
9 Moderna 3.60% 123.62 -6.48% -0.23%
10 Delivery Hero 3.30% 103.15 0.44% 0.01%
11 Kering 2.10% 539 -1.93% -0.04%
12 Spotify 2.00% 256.34 -6.78% -0.14%
13 MercadoLibre 1.90% 1367.4 -6.99% -0.13%
14 Netflix 1.90% 497.865 -3.59% -0.07%
15 Zalando 1.80% 2051.02 -14.21% -0.26%
16 NVIDIA 1.70% 465.46 -6.62% -0.11%
17 Pinduoduo 1.70% 137.53 -12.30% -0.21%
18 Denali Therapeutics 1.60% 56.95 -6.70% -0.11%
19 Ferrari 1.60% 189.27 0.20% 0.00%
20 Ant International 1.60% 1.25 0.00% 0.00%
21 Affirm 1.50% 73.73 -9.13% -0.14%
22 HelloFresh 1.50% 58.8 -0.93% -0.01%
23 Zoom Video Communications 1.40% 312.075 -7.51% -0.11%
24 ByteDance 1.20% 0.00%
25 Adyen 1.20% 1814 0.00% 0.00%
26 Tempus Labs Inc 1.10% 0.00%
27 Shopify 1.10% 1085.05 -4.06% -0.04%
28 Wayfair 1.10% 303.84 2.77% 0.03%
29 Ginkgo BioWorks 0.90% 0.00%
30 Carvana 0.90% 242.05 -7.45% -0.07%
31 Vir Biotechnology 0.90% 42.84 -5.18% -0.05%
32 Ocado 0.90% 20.88 0.00% 0.00%
33 TransferWise 0.80% 0.00%
34 You & Mr Jones 0.80% 0.00%
35 Kinnevik 0.80% 45.45 -4.30% -0.03%
36 Zipline 0.80% 0.00%
37 Palantir Technologies 0.70% 22.5 -6.05% -0.04%
38 Stripe 0.70% 0.00%
39 Space Exploration Technologies 0.70% 0.00%
40 Workday 0.70% 231.465 -2.34% -0.02%
41 Atlas Copco 0.70% 416.3 -1.95% -0.01%
Total 86.70% -3.74%

[dexter1612] 08/3/2021 20:17

I agree on the state of financials of banks and sovereign wealth and that can will get kicked down the road near term.I believe the opposite will happen, stimulus in the US and lesser in UK/EU will create a boom in most economies that will mask the greater structural issues you point out. China will continue to grow, dominate and become more self sufficient.On the cynical trend, yes there is a move towards old favourites such as Energy, Oil, Consumers etc, because we are coming out of lockdown and traditionally that's the starting point for reset after any economic stress on the market, however this isn't a normal restart. Climate change, EVs, Fintech, online presence, big data, genome mapping, and yes even Bitcoin have been given the equivalent of a huge leg up. The old cyclics oil, energy etc were dying anyway, this has accelerated it considerably.The world has definitely changed its just how quickly we wake up to see it.

[saltraider] 08/3/2021 20:04

@harlteijt1 .. and isn't a litle cheap 'signalling' exactly the best tactic for SMT? A statement of intent is all that is needed. SMT sold half its stake in Tesla right at the top of the market ansd must be drowning in cash. Why pile in when a nudge is all that is needed?

[arja] 08/3/2021 19:56

nasdaq well down on 4.35pm level but SMT remains a great trading stock as it mirrors nasdaq index during trading hours

[hartleyjr1] 08/3/2021 19:35

SMT purchased 1.5 million of their own shares at 1055p.....make of that what you will.


£16m trade? Seems pretty tepid I'd the massive discount to nav is to be believed. Looks more like signalling than true commitment to me.

[bmel] 08/3/2021 19:33

They know a bargain when they see it....and they are sloshing around in an ocean of cash from the Tesla disposals.

Two rights don’t make a wrong?

[hartleyjr1] 08/3/2021 19:32

My own view for what it's worth is that finances of sovereigns, banks & consumers is in a far more precarious state than many are thinking. At the moment I think we will see a continuation of the hope that cyclicals will bounce back v shaped & this will continue to depress tech. But moving into the autumn I expect general sell off as earnings show weaker than expected recovery.

[dexter1612] 08/3/2021 19:00

My own view is that this is not a traditional sell of in the sense of the Tech crash of 2000s. The keys are in the engines to fire up world economies, there is a period of reset while the markets figures out what it thinks the future will look like. But the world has changed and Covid has accelerated change. I suspect that the inflation panic will taper out, yield controls will kick in and by the end of the year we will be close to we were with SMT at the end of the year.

[dexter1612] 08/3/2021 18:53

There will be others here that may have some idea on that.Generally when a company buys it own shares, it's because they see the discount as being too large.

[ali47fish] 08/3/2021 18:27

dexter what do you make of it please !

[dexter1612] 08/3/2021 18:10

SMT purchased 1.5 million of their own shares at 1055p.....make of that what you will.

[magnusprinceps] 08/3/2021 17:49

Gosh, blue at the end of the day, and lots of it - who would have thought!

[arja] 08/3/2021 17:39

yes , close to a 10% move I think and wish I had not been trading ATT as made less
on that one . Investment trusts mever used to be thought of trading stocks ( smile )

[laser12] 08/3/2021 16:22

SMT goes down in the morning and then reverses in the afternoon. The professional traders must be making a killing at the expense of retail investors?

[bdog51] 08/3/2021 15:39

Nice intra day reversal, seems to be on the turn?