Smithson Investment Share Discussion Threads

[marksp2011] 01/8/2022 18:19

The wealth managers are buying back in I think. Discount is closing and the NAV is flying too

[frederickbloggs] 01/8/2022 16:37

Lovely, 1400p, thank you Mr Market.

[frederickbloggs] 29/7/2022 14:18

1400p next week?

[frederickbloggs] 22/7/2022 11:28

In fact you could use the word "always" and you would be right. Good to see some appreciation here after an absolutely awful 6 months or so.

[milesy] 21/7/2022 22:21

Mr Market can overextend in either direction.

[frederickbloggs] 21/7/2022 13:04

Very thankful to just see some upward movement here. 2022 has been extremely disappointing after the previous excellent performance. Longer term, I am really surprised about the degree of volatility here. It surprises me that a portfolio of high quality companies can lose 40% of it's value in just 6 months or so. I am holding for the foreseeable, but I am not getting any younger and it's likely I will reduce my holding eventually. Meantime, onwards and upwards, I hope.

[spectoacc] 21/7/2022 12:58

Does seem like the buy backs are working out.

[battyliveson] 21/7/2022 12:42

Good to see some improvement in share price and lessening of discount. It does seem rather strange for SSON to trade at a significant discount as I believe all of its investments are quoted on good liquid exchanges, and they don't use leverage. Any discount should simply reflect transaction costs (circa 1%) and allow for foreign market falls while UK is closed, (say 3%), although this can go in both directions. For the same reasons a premium seems equally illogical. Am I missing something.

B

[frederickbloggs] 20/7/2022 14:56

That's better, another 1p please, Mr Market. LOL!

[frederickbloggs] 20/7/2022 08:19

I'd like to see 1300p today please Mr Market. Thanks in advance. :-)

[frederickbloggs] 20/7/2022 08:18

Makes perfect sense to buy back stock at 90 and sell the underlying holdings for 100.

[cartan1blue] 19/7/2022 18:46

I fully support Smithson buying back stock. I’d like them to do more

[frederickbloggs] 18/7/2022 11:48

Hoping for the discount to narrow and to see us trading back above 1300p again soon. 2000p again, feels a long way off from here.

[marksp2011] 15/7/2022 18:00

I agreeThere are times when open ended funds do better with no discount to worry about. A 2% premium to a 11% discount hasn't helped the performance numbers for sure

[frederickbloggs] 15/7/2022 08:41

I try my best not to second guess trust managers, but I reckoned buying Fevertree when they did was a very bad idea. Unfortunately, it has come to pass.

[spectoacc] 15/7/2022 08:03

FEVR, one of SSON's.

[frederickbloggs] 14/7/2022 14:10

I hear you, but it's the share price we need to be most interested in. That's what we buy and sell at. Today at SSON website, it shows share price decline more than 41% year to date. That's a dreadful outcome for what's supposed to be a portfolio of the highest quality companies.I can do nothing now except sit and wait. I used to think SSON was a hold forever share. I am not at all sure about that any more.Of passing interest, my Fundsmith shares have been far less volatile this year. Even Blue Whale Growth Fund, a pretty high octane investment, hasn't suffered like Smithson has.

[marksp2011] 14/7/2022 13:43

The portfolio isn't that volatile ie the NAV is holding. The issue is the discount which is swinging wildly

[frederickbloggs] 14/7/2022 09:16

2000p in two years? From here that's close to 80% share price appreciation in just two years. Whilst I would obviously love that to happen, I wouldn't bet on it. I have held here since launch and was delighted with it until this year. I am very disappointed how volatile it has become. Longer term, I'll have to think about this as I am not getting any younger.

[spectoacc] 14/7/2022 07:24

Compared to SSON, nearly anything :)

[marksp2011] 14/7/2022 07:16

A tracker tracking what?

[spectoacc] 14/7/2022 06:59

"If the sson portfolio was good at 2000 then it is a better buy at 1300"#


Doesn't the performance of the holdings (rather than the discount swings) suggest that it wasn't? In which case, they've no magic, & you'd be better with a tracker.

[marksp2011] 14/7/2022 05:15

I struggle with this.All SSON is is a portfolio wrapper with a built in sentiment indicator through the discount/premium.If the sson portfolio was good at 2000 then it is a better buy at 1300The discount will close when the wealth managers increase their growth allocations2000 had a lot of froth. It might be 2 years before underlying holdings are worth their 2021 prices.....on that view 1250==>2000 in 2 years? I would take that

[frederickbloggs] 06/7/2022 18:00

It's a huge hill to climb back up to 2000p from here. Holding on at SSON rather than buying more.

[marksp2011] 06/7/2022 15:59

I am a buyer at this level.11% discount