Nick Train and Pearson

[Dod1010]

This was discussed in a long thread recently and it seems that Nick Train has finally decided to keep Pearson pro tem at least. He discusses his dilemma in the half yearly report for Finsbury IT but has come down on keeping it without any convincing reason that I can see, just a hope that they can become a leader in digital education.

I would certainly have sold it because I do not think Pearson can be compared with the likes of his biggest holding, Unilever or any of the other top quality holdings in Finsbury. In fact I think Pearson pollutes the portfolio.

Dod

[flyer61]

At the end of the day Nick Train is human like the rest of us. We all find it difficult to admit we make mistakes and cut our losses and run our winners.

Look at Neil Woodford investing in start ups and other things that have never been his bread and butter. The hype that HL and others give him makes me very wary of this 'cult of the fund manager' and that they can do no wrong.

At least with Terry Smith (if you can get over his ego) he does admit his mistakes.

They cock up just as we do.

[UncleEbenezer]

Look at Neil Woodford investing in start ups and other things that have never been his bread and butter.

One of his investees just successfully floated: http://www.hl.co.uk/news/2017/5/15/onli ... market-ipo

(Yours Truly has no holding in Woodford's fund, but benefits as an investor in another of this company's early-stage backers. Oh, and I hold PSON both directly and through Train's funds).

[Dod1010]

Over 28%? Well Scottish Mortgage did that for the year to 31 March, with a low profile James Anderson in charge. 38% increase in NAV and 40% on the share price. can't be bad.

Dod

[Arborbridge]

Nick Train, Anderson, Terry Smith - all rather similar characters and all very well known celebrities in the fund management business.

Let's see how they are doing, figures just now from Trustnet:



The final column is the TR of share price over 5years: previous columns are NAV (or unit price for Fundsmith OEIC).
For those who do not require an income, it seems Dod is correct for the moment, edging it over Fundsmith for the longer period. But all three are pretty dependable places to put your capital.
Checking the charts, I note that all three were more or less on a par for share price around early 2016, but Scottish Mortgage had a burst after Brexit rather more strongly than the others, whereas pre-Brexit the price was stagnating. He is also slightly more volatile.
Like all these comparisons, it's a snapshot and can change in the next period: a never ending story.
Arb.

Moderator Message:
Remember this is the HYP practical board. Discussions on their funds to correct board please. Raptor.

[Arborbridge]

Raptor: apologies. I got carried away by events

[flyer61]

At the end of the day Nick Train is human like the rest of us. We all find it difficult to admit we make mistakes and cut our losses and run our winners.

Look at Neil Woodford investing in start ups and other things that have never been his bread and butter. The hype that HL and others give him makes me very wary of this 'cult of the fund manager' and that they can do no wrong.

At least with Terry Smith (if you can get over his ego) he does admit his mistakes.

They cock up just as we do.

Did I really work this all out two years ago