@30:51 appreciate the discussion on Burberry. It seems like a lot of the downside risk has been priced in now if you're holding for the long-term. Burberry is a company & brand that should still be around decades from now.
I would like to know exactly how you value companies and what are the intended returns at the point of investment. You must have them but I’m not sure I’ve heard you talk about this. You mentioned the portfolio weighted average P/E but what are your projections for earnings growth for the FGT portfolio. When you add to existing holdings you must be doing so on some valuation metrics.
Well we learned little here, his portfolio rarely changes yet he still charges considerably more than other trusts but gives poor performance despite his fees. Look, for instance, at Murray Income ,which in their top10 holdings, have 5 of his top 6 holdings, charge considerably less in ongoing charges & also hold about 20% overseas. Their portfolio has given a much better return, certainly over 5 years, not to mention a decent divi, and they are active, not watching, say, Burberry, drop by more than 50% and sit there watching it then say "we bought them cheaper". Is 0.61% annual fee worth paying for someone who sits and watches, we can all do nothing, which he seems proud of, but sadly we are not paid to do so. One other aspect is other trusts do not give videos with someone speaking as if he is a special needs teacher in a junior school, perhaps the promoter of this advertorial could have been just a tad more inquisitive than "yes I guess you covered it there"...
Great interview with Nick Train.
@30:51 appreciate the discussion on Burberry. It seems like a lot of the downside risk has been priced in now if you're holding for the long-term. Burberry is a company & brand that should still be around decades from now.
@@manemrob1510 they might be around but will their earnings grow at a significant rate to make it a worthwhile investment compared to other options.
I would like to know exactly how you value companies and what are the intended returns at the point of investment. You must have them but I’m not sure I’ve heard you talk about this. You mentioned the portfolio weighted average P/E but what are your projections for earnings growth for the FGT portfolio. When you add to existing holdings you must be doing so on some valuation metrics.
Lol "we don't do much"
Terry Smith says thr same thing, buy well and hold forever, doesn’t require much action of figiting with
I always wonder who puts money into these funds that they manage to get billions in???
Well we learned little here, his portfolio rarely changes yet he still charges considerably more than other trusts but gives poor performance despite his fees.
Look, for instance, at Murray Income ,which in their top10 holdings, have 5 of his top 6 holdings, charge considerably less in ongoing charges & also hold about 20% overseas.
Their portfolio has given a much better return, certainly over 5 years, not to mention a decent divi, and they are active, not watching, say, Burberry, drop by more than 50% and sit there watching it then say "we bought them cheaper". Is 0.61% annual fee worth paying for someone who sits and watches, we can all do nothing, which he seems proud of, but sadly we are not paid to do so.
One other aspect is other trusts do not give videos with someone speaking as if he is a special needs teacher in a junior school, perhaps the promoter of this advertorial could have been just a tad more inquisitive than "yes I guess you covered it there"...
Nick is out of sync like so many other fund managers