To go with SMT

Ciprico

Bravepants said:

csgohan4 said:

AnotherJoe said:

csgohan4 said:

Looks like SMT are going cosmic, they were 860 when I looked last month, they've increase by 100p, shocking, should have dumped money when I had the chance, Sadly I think the boat has sailed probably. 

Do you think it's risky to invest more money in?  Was thinking of dumping 15k into it, but the passive investor in me, thinks I should dump into an active global fund like fundsmith

But if I wanted more US tech a passive fund seems reasonable as well: https://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/l/legal-and-general-global-technology-index-class-i-accumulation

Big down day on the market today, fill your boots ! 

guess we know why now
https://www.bbc.co.uk/news/business-54020706

i guess as with anything there will be ups and downs, whether recession or not. The danger is trying to time the market and one could get it wrong. 

"Analysts said fears about the economic shock of coronavirus and a possible second wave prompted the sell-off."

So, who keeps saying that these factors have already been priced in?

If you subscribe to the "everything is already priced in", philosophy, then both a second wave happening and a second wave not happening must both already be priced in....
Same for Trump winning/losing, and any other binary factor
All that can be priced in is "the unknown" and the percentage of it happening.
When something actually happens, or the odds increase of something happening there will be a direct response...
Personally I think the "it's already priced in" arguement is a bit lazy 
(I bought more SMT this morning)

noClue

Where can I see SMT's historical holdings pre 2008? Seems they are having a particular good run since 2008.

bowlhead99

noClue said:

Where can I see SMT's historical holdings pre 2008? Seems they are having a particular good run since 2008.

If you go back far enough on some of the RNS websites you can see quarterly announcements containing 'Portfolio Update' or 'Top 10 investments'

For example 17 pages back at https://investegate.co.uk/Index.aspx?searchtype=3&words=smt&pno=17 you can see RNS announcements from 2004/5/6. 
Here's an example:

Scottish Mortgage Inv Tst PLC
05 January 2004

                     SCOTTISH MORTGAGE INVESTMENT TRUST PLC

   Statement of Top Ten Investments and all Holdings Over 5% of Total Assets

31 Decembe 2003
No       Holding                                               % of Total Assets

1.       Vodafone Group                                               4.9%
2.       GlaxoSmithKline                                              3.4%
3.       Royal Bank of Scotland                                       2.9%
4.       Golden West Financial                                        2.5%
5.       HSBC Holdings                                                2.5%
6.       Barclays                                                     2.3%
7.       British American Tobacco                                     1.8%
8.       Bank of Scotland (SAMS) 2072                                 1.8%
9.       Omnicom                                                      1.6%
10.      Wellpoint Healthcare                                         1.5%

Or here's an example from the 1998 Interim results via 
https://uk.advfn.com/stock-market/london/scottish-mortgage-invest-SMT/share-news/Scot-Mort-Trust-Interim-Results/840749

DISTRIBUTION OF ASSETS 
                             at 30 September 1998                                                                                                   
                                                   %                    %
Equities:   United Kingdom                       49.7                 49.8
            Continental Europe                   21.7                 20.0
            North America                         8.7                  9.9
            Latin America                         1.6                  2.8
            Japan                                 4.1                  3.7
            Asia Pacific                          1.2                  3.7
                                                ------               ------
Total equities (note 5)                          87.0                 89.9
United Kingdom bond                               1.4                  1.1
Argentine bonds                                   4.9                  4.9
Net liquid assets                                 6.7                  4.1
                                                ------               ------
Total assets (before loans and debentures)      100.0                100.0 
                                                ======               ======

                             TOP TWENTY HOLDINGS
                           as at 30 September 1998
                            #'000                                     #'000
1.  Glaxo Wellcome         80,597       11.  Mannesmann              25,936
2.  Lloyds TSB             53,458       12.  Boots                   25,325
3.  British Petroleum      45,154       13.  CGU                     25,287
4.  Vodafone               44,561       14.  Schering-Plough         24,406
5.  *Guaranteed Nikkei 300              15.  Stagecoach              23,240
    1 1/4% 1999            37,330       16.  Baillie Gifford 
6.  Prudential             28,896            British Smaller
7.  Gallaher               28,890            Companies Fund          22,668
8.  Philip Morris          28,633       17.  Cable & Wireless        22,440
9.  Rentokil Initial       27,235       18.  Novartis                18,865
10. Halifax                26,600       19.  Imperial Tobacco        18,675
                                        20.  Banca di Roma           18,169

*listed in Luxembourg, classified as equity based.
The above holdings represent 41.6% of the total assets.

csgohan4

Interesting, it's completely flipped in terms of geographical investing. Well it is an active fund afterall

Audaxer

AnotherJoe said:

csgohan4 said:

I guess as always, to diversify your investment and not to put all your eggs in one basket, be it USA heavy funds to tech  heavy funds, but have a spread, 

however the active funds are not immune to changes in the market, however I think on balance, having an active fund covering what you want it probably better as they can change quicker than you and probably have more knowledge.
Unless your Woodford

Getting back to your original point, If you think SMT is a good long term investment now is a great time to buy it. Might it be cheaper next week?  Sure, maybe. But them again it might be more expensive. You will never buy it at its absolute lowest and if you try odds are it will rise until you get the courage to buy and you'll have paid more.  

I noticed yesterday that SMT was down 6.35% and was the biggest faller in the FTSE100, and today I see it is down another 6.45%, so for someone wanting to invest in SMT, probably now is a good time to buy. 

noClue

thanks @bowlhead99 helpful as always

AnotherJoe

Thanks BH, looking at that it was a totally different fund then. I suspect new fund managers came in in ? mid noughties? " and in effect started again.

noClue

lol? I'm surprised that people who bought SMT and was going to buy SMT didn't check out these kinds of things?

csgohan4

noClue said:

lol? I'm surprised that people who bought SMT and was going to buy SMT didn't check out these kinds of things?

But how far do deep you go? Would knowing they invested in Lloyds in 1998 affect your attitude to them now? It is an active fund, they can and will change company shares  in due course 

noClue

well maybe i shouldnt have commented above. i wouldn't ask the question if it's mentioned in the first two pages.

cummings got a first in his history degree.