bluedonkey wrote:I like James Acaster but I don't get the connection.
I thought I gave the page number. Page 6. "his or her", "he or she"
That's the bit in the stand up. No big deal. Just made me think back and chuckle a touch.
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bluedonkey wrote:I like James Acaster but I don't get the connection.
OhNoNotimAgain wrote:His rule about not overpaying seems at odds with the data on this page
http://www.morningstar.co.uk/uk/funds/s ... LK2Q&tab=3
scotia wrote:OhNoNotimAgain wrote:His rule about not overpaying seems at odds with the data on this page
http://www.morningstar.co.uk/uk/funds/s ... LK2Q&tab=3
Presumably the statistics in the above link relate to current prices - and not the price originally paid. Since he is a long term holder this difference is significant. If we assume that he did not overpay, the statistics simply show that his investments have been very successful.
Backache wrote:scotia wrote:OhNoNotimAgain wrote:His rule about not overpaying seems at odds with the data on this page
http://www.morningstar.co.uk/uk/funds/s ... LK2Q&tab=3
Presumably the statistics in the above link relate to current prices - and not the price originally paid. Since he is a long term holder this difference is significant. If we assume that he did not overpay, the statistics simply show that his investments have been very successful.
It's an open ended fund which is increasingly popular so I think it reflects the price he is paying as well as what he has historically paid.
Having said that he does explain (at boring length for some) why he thinks these companies represent good buys at the price and that they are not now any more expensive compared with the rest of the market than at other times when he has bought them.
bluedonkey wrote:High earnings growth at a constant P/E equals high share price growth.
OhNoNotimAgain wrote:
The problem with buying and holding highly rated companies is that the upside is limited, but the downside is bigger.
If earnings beat expectations the market says, yes well we expected that so the shares don't get rerated. If earnings fail to meet expectations the market cuts earnings' forecasts and cuts the rating so you get a double whammy on the downside.
Dod101 wrote:I have no argument with Fundsmith, although I do not hold. I see no reason why it should not be a safe haven indefinitely. My comment was solely aimed at his shareholders' letter which does not tell us very much and is much less informative than Buffett in the old days, and in fact Nick Train at the moment.
smicker wrote:
Anyone any idea how to find out which companies are being added?
Jan factsheet mentions a new position being built but doesnt name the company but then i read a piece by another fund manager and he reveals it.
Is it common knowledge among brokers, other fund managers etc that there are large sellers or buyers of certain shares?
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