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Buffettology v something a little more global?

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Aminatidi
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Buffettology v something a little more global?

#171766

Postby Aminatidi » October 5th, 2018, 6:04 pm

I have a very simple ISA portfolio of three core holdings split equally:

  • Fundsmith
  • Lindsell Train Global Equity
  • Buffettology
There is one ISA with around £40K in total between those three and another ISA with around £13K.

In one of the ISA's I also have three individual small share holdings worth around £7K collectively.

I have a GIA with around £10K in it split 75/25 between Lindsell Train Global Equity and Fundsmith.

£750/month goes into the ISA split equally between the three fund holdings and I make the occasional lump sum addition from cash.

That totals close to £70K and I've got around £140K in literal cash in the bank and if you include some NS&I savings cert.

Fundsmith and Lindsell Train Global Equity are keepers.

I'm less sure about the 1/3 in Buffettology, not because of the fund, Keith Ashworth-Lord is very highly rated.

It's more the idea of having 1/3rd directly in the UK and mostly smaller-caps whether it's due to uncertainty over Brexit or simply that it's a heck of a lot of home bias keeping in mind Fundsmith and LTGE have some in the UK too.

I consider and ask a lot but I chop and change very little as I'm keen to keep things simple and not be that guy who comes back in a year with a list of 30 funds wondering why he's doing worse than a tracker :)

Views welcome :)

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Re: Buffettology v something a little more global?

#171784

Postby shawsdale » October 5th, 2018, 7:39 pm

I don't hold the Buffettology fund but have learnt a great deal from Keith Ashworth-Lord's book Invest in the Best which I'd recommend.

If you read the most recent factsheet for the fund it's almost as if he anticipated your question.
http://www.castlefield.com/media/2374/cfp-sdl-uk-buffettology-october-2018.pdf

Here is the relevant extract:

"One of the common misconceptions about the UK Buffettology Fund is that it is a small / mid cap fund. The breakdown of market capitalisation for the 30 investments is currently Mega (>£10bn) 13%, Large (£1-10bn) 30%, Mid (£500m-1bn) 17%, Small (£100-500m) 18% and Micro (<£100m) 6% - the missing 16% being the cash. The mean market capitalisation is £21bn (£7.6bn if Berkshire Hathaway is excluded) and the median is £1.1bn.
Another misconception is that it has a domestic focus. This is probably because of the fund's name and the fact that 29 of our 30 companies are domiciled here. However, when you look at where the investee companies actually earn their money you get the following analysis: UK 31%; Continental Europe 17%; North America 24%; Asia-Pacific 5%; and Rest of the World 7% (again excluding cash of 16%). I trust this helps our investors to better appreciate the nature of what they are invested in. "

If you have a long-term growth-oriented investment horizon then perhaps you might consider the new Smithson investment trust from Fundsmith for global small-mid caps, and also some [further] exposure to Asia, Japan, and emerging markets via other vehicle(s) (e.g. from the Baillie Gifford stable).

I hope this is helpful.

Aminatidi
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Re: Buffettology v something a little more global?

#173681

Postby Aminatidi » October 14th, 2018, 1:35 pm

Well, following the last week or so I'm contemplating whether to try to dial down the risk level a little and introduce something a little more pedestrian such as Troy Trojan and a simple 4x way split.

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Re: Buffettology v something a little more global?

#173741

Postby Spet0789 » October 14th, 2018, 8:01 pm

Aminatidi wrote:Well, following the last week or so I'm contemplating whether to try to dial down the risk level a little and introduce something a little more pedestrian such as Troy Trojan and a simple 4x way split.


You could buy high, sell low but I wouldn’t recommend it.

Aminatidi
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Re: Buffettology v something a little more global?

#173742

Postby Aminatidi » October 14th, 2018, 8:02 pm

Spet0789 wrote:
Aminatidi wrote:Well, following the last week or so I'm contemplating whether to try to dial down the risk level a little and introduce something a little more pedestrian such as Troy Trojan and a simple 4x way split.


You could buy high, sell low but I wouldn’t recommend it.


Ongoing contributions, definitely not looking to sell :)


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