During the 2024 Fundsmith Annual Meeting, Terry Smith expressed dissatisfaction with UK equities, stating that only a few UK stocks have a return on capital employed (ROCE) higher than the average Fundsmith holding. Fundsmith has shifted away from Consumer Staples, reducing its exposure compared to previous years. Smith also criticized Rightmove as 'uninvestable' and highlighted the importance of investing in good companies. Additionally, Fundsmith presented a list of good and bad businesses by sector, with tobacco ranking high on the 'good' list.
Fundsmith presented list of good and bad businesses * (by sector) at their 2024 AGM Tobacco tops the "good" list Terry Smith: "Ironic, I know, but it does" Fundsmith has been longstanding holder of Philip Morris $PM; used to own Imperial Brands $IMB and Swedish Match $SWMA too https://t.co/VsV85NT633 https://t.co/oqALNj8b0J
"The four most dangerous words in investing are: 'this time it's different'" - Sir John Templeton
Rightmove: Terry Smith called it "uninvestable" At this year's Fundsmith AGM, Smith described $RMV (market cap £4.5bn) as "too small" but also cited CoStar/OnTheMarket $CSGP as "a rather horrible-looking US competitor" Read about this and more in our full transcript https://t.co/iDFY2Uaq9n https://t.co/oqALNj8b0J
Fundsmith has moved away from Consumer Staples Terry Smith at AGM: "If you look back to 14 years ago, half the fund was in Consumer Staples, you know. Now we're in the 20s, it's about half that" But Unilever $ULVR is 1 of their 2 top picks Read our transcript for detail and… https://t.co/jL2XRyWuHh https://t.co/oqALNj8b0J
Fundsmith has subtly amended one of its mantras Mantra #1 is now "only invest in good companies", instead of more snappy "buy good companies" before What happened? Is this a legal thing? Replies are open! cc: @FundsmithLLP https://t.co/Q2g33wcCz3 https://t.co/oqALNj8b0J
The UK market is known for being cheap, lacking exposure to global technology companies, and being populated with mature businesses 🇬🇧 Here are 6 quality UK businesses that might be worth a look (4 have compelling network effects):
Fundsmith AGM: Terry Smith doesn't like UK equities He refuted argument that UK stocks are cheaper vs. international peers Only 3-5 UK stocks have ROCE higher than average Fundsmith holding Read his explanation, and discover those 3-5 stocks, in our full transcript below https://t.co/mWTbzLDpFD https://t.co/oqALNj8b0J
Fundsmith AGM: Terry Smith doesn't like UK equities He refuted argument that UK stocks are cheaper vs. international peers There are only 3-5 UK stocks with ROCE higher than average Fundsmith holding Read his explanation, and discover those 3-5 stocks, in our full transcript https://t.co/tLYXPx97SM https://t.co/oqALNj8b0J
Fundsmith AGM: Terry Smith doesn't like UK equities He refuted argument that UK stocks are cheaper vs. international peers There are only 3-5 UK stocks with ROCE higher than average Fundsmith holding Read his explanation, and discover those 3-5 stocks in our full transcript https://t.co/G6uLY2RDAF https://t.co/oqALNj8b0J
During his latest 2024 Fundsmith Annual Meeting, Terry Smith argues that there's nothing new under the sun, using movies and stock market trends as examples. Here's an excerpt from the meeting: https://t.co/lQ0jPEqUZe https://t.co/9nzoyoBDlP
Watching the Fundsmith annual meeting. Pretty disappointed in how little Terry Smith & co. understand Amazon’s business model. Wild to see that they think Amazon’s grocery moves have been bad capital allocation and sold the stock at the lows because of it.
Fundsmith perfomance https://t.co/riOELrRDFY