I'm not surprised, Nick

aroominyork

Headline from Trustnet: "Nick Train: ‘We do not enjoy the current investment performance’"

InvesterJones

Well placed for a rotation away from the mag7 I presume.

Bostonerimus1

My investment strategy is to avoid headlines of all kinds. An indexing strategy means you are always on the blue curve...for good or ill.

Linton

Lindsell Train funds have their own strategy.  Their performance against the market varies greatly over time. 5 years is too short a period  to come to any conclusion.

aroominyork

There is some schadenfreude. Nick Train is one of the most annoying interviewees I have ever seen; his eye rolling and self-importance are foul. Terry Smith, on the other hand, is very entertaining.

Bostonerimus1

aroominyork said:

There is some schadenfreude. Nick Train is one of the most annoying interviewees I have ever seen; his eye rolling and self-importance are foul. Terry Smith, on the other hand, is very entertaining.

I'm an index investor so whatever Train's interview demeanor I wouldn't buy his funds, however, your comment made me search for him on Youtube and I have to say I would never buy anything from someone with that haircut. Train and his investors are going through the poor performance cycle of an actively managed fund. The worst losers will be the investors that bought high on hype and are scared into selling at a lower price.

Linton

Bostonerimus1 said:

aroominyork said:

There is some schadenfreude. Nick Train is one of the most annoying interviewees I have ever seen; his eye rolling and self-importance are foul. Terry Smith, on the other hand, is very entertaining.

I'm an index investor so whatever Train's interview demeanor I wouldn't buy his funds, however, your comment made me search for him on Youtube and I have to say I would never buy anything from someone with that haircut. (1)Train and his investors are going through the poor performance cycle of an actively managed fund. (2)The worst losers will be the investors that bought high on hype and are scared into selling at a lower price.

1)  Or looking at things the other way around, index investors are now going through the high performance cycle typical of any fund and will suffer in due course.
2)  All investors no matter what sort of funds they invest in who buy on hype and are scared into selling at a lower price will be losers.

Bostonerimus1

Linton said:

Bostonerimus1 said:

aroominyork said:

There is some schadenfreude. Nick Train is one of the most annoying interviewees I have ever seen; his eye rolling and self-importance are foul. Terry Smith, on the other hand, is very entertaining.

I'm an index investor so whatever Train's interview demeanor I wouldn't buy his funds, however, your comment made me search for him on Youtube and I have to say I would never buy anything from someone with that haircut. (1)Train and his investors are going through the poor performance cycle of an actively managed fund. (2)The worst losers will be the investors that bought high on hype and are scared into selling at a lower price.

1)  Or looking at things the other way around, index investors are now going through the high performance cycle typical of any fund and will suffer in due course.
2)  All investors no matter what sort of funds they invest in who buy on hype and are scared into selling at a lower price will be losers.

True enough. However, the dangers of highs and lows and poor buy and sell decisions can be greatly amplified with funds that seek to beat a benchmark. Being average can make life far simpler. But whatever your investment philosophy I'd believe that Nick's hair is objectively a Train-wreck.

Reaper

There is a strategy some follow to buy "dog" stocks. The theory being they are cyclical and it is better to buy low and sell high. The best known example is the "Dogs of Dow" fund. Results have been mixed.

So maybe after 5 years of poor performance some would see this as an opportunity

aroominyork

Bostonerimus1 said:

Linton said:

Bostonerimus1 said:

aroominyork said:

There is some schadenfreude. Nick Train is one of the most annoying interviewees I have ever seen; his eye rolling and self-importance are foul. Terry Smith, on the other hand, is very entertaining.

I'm an index investor so whatever Train's interview demeanor I wouldn't buy his funds, however, your comment made me search for him on Youtube and I have to say I would never buy anything from someone with that haircut. (1)Train and his investors are going through the poor performance cycle of an actively managed fund. (2)The worst losers will be the investors that bought high on hype and are scared into selling at a lower price.

1)  Or looking at things the other way around, index investors are now going through the high performance cycle typical of any fund and will suffer in due course.
2)  All investors no matter what sort of funds they invest in who buy on hype and are scared into selling at a lower price will be losers.

True enough. However, the dangers of highs and lows and poor buy and sell decisions can be greatly amplified with funds that seek to beat a benchmark. Being average can make life far simpler. But whatever your investment philosophy I'd believe that Nick's hair is objectively a Train-wreck.

"You laugh at my hair and I'll put your bloody eye out!"

aroominyork

Reaper said:

There is a strategy some follow to buy "dog" stocks. The theory being they are cyclical and it is better to buy low and sell high. The best known example is the "Dogs of Dow" fund. Results have been mixed.

So maybe after 5 years of poor performance some would see this as an opportunity

The problem with Train's style (investing, not hair) - and I think it is a problem - is that he invests overwhelmingly in defensive consumer brands. When they are having a bad time he has nowhere to run. If you like quality growth,  Fundsmith offers diversification by investing in B2B as well as B2C and across consumer defensive, tech and healthcare. Over the past five years a developed world index fund has risen 70%; while Fundsmith has only risen 43%, Lindsell Train has lagged at 15%.