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Star stock picker Terry Smith paid nearly £30m as Fundsmith booms

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Bumper year for co-owner of UK’s largest equity fund seen as the British version of Warren BuffetThe popular British stock picker Terry Smith pocketed nearly £30m last year, making him one of the best-paid executives in the fund management industry.Accounts filed at Companies House show the Fundsmith executive – who owns more than 50% of the fund management company – took home £29.7m in the 12 months to March 2020, nearly double the £16.2m he earned a year earlier. Continue reading… [Read More...]

Notes From Sohn London Investment Conference 2019

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Below are links to notes from the recent Sohn London Investment Conference 2019 which featured investment managers sharing ideas to benefit charity.Sohn London Conference Notes 2019- Brian Baldwin (Trian Fund Management): Long Ferguson – James Hanbury (Odey Asset Management): Long Plus500- Catherine Berjal (CIAM): Long Accor- Jason Ader (SpringOwl Asset Management): Long Playtec – Per Johansson (Bodenholm Capital): Long LivaNova, Short Koenig and Bauer- Tamas Eisenberger (Sikra Capital): Long Star Bulk Carriers & Scorpio Tankers- Måns Larsson (Makuria): Short ICA Gruppen- Arnaud Langlois (1798 TerreNeuve Fund): Short Air Products & Chemicals- Lucy Macdonald (Allianz): Long Bloomsbury Publishing- Fadi Arbid (Amwal Capital): Short Kuwait Finance House, long Ahli United Bank- Pieter Taselaar (Lucerne Capital): Long Altice Europe (apologies, no notes from this one) [Read More...]

Millions of Americans Are About to Receive Checks

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March 20, 2021: Millions of Americans Are About to Receive Checks Will you be one of them? Listen to Ric Edelman for details about the $1.9 trillion coronavirus relief plan and learn who is eligible to get money.  Click here to download the report The Growing Burden of Retirement: Rising Costs and More Risk Increase Uncertainty by The National Institute on Retirement Security. Duration: 85:37 On this episode: Benefits Going to 93% of American Children Never has so much money been directed to children in a relief package. Listen to Ric Edelman explain how the American Rescue Plan will temporarily cut child poverty in half and other potential direct benefits to you. Here’s What Americans Will Do With Their Rescue Package Money Some will spend the money and others… [Read More...]

Legal & General sells its personal investing business to Fidelity

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The deal, worth £5.8bn, will double Fidelity’s personal investing customer baseLegal & General has sold its personal investing business worth nearly £6bn to Fidelity, in a deal that will add 300,000 customers to the new owner’s client base.The deal involves £5.8bn in assets under management held in individual savings accounts (Isas), junior Isas and general investment products that are invested in Legal & General Investment Management (LGIM) funds. Continue reading… [Read More...]

Updated Top Hedge Fund Holdings: New Q2 Issue Now Available

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The new Q2 issue of our hedge fund newsletter is now available. Subscribers please login at www.hedgefundwisdom.com to download it.Inside the New Q2 Issue:- Reveals the latest portfolios of 25 top hedge fund managers: David Tepper, Seth Klarman, Stan Druckenmiller, Bill Ackman, Dan Loeb, Chase Coleman & more (full list here)- Commentary on each fund’s moves: Excerpts from hedge fund letters, performance numbers, occasional short positions, and more – New consensus buy / sell lists: Most popular stocks- Investment thesis summaries of 2 stocks that saw notable buying activity33% Discount: Take advantage of the savings below. After signing up, you’ll get immediate access to the new 92-page issue as well as the full archive of past issues.1-year Subscription (4 issues): Normal Price $299.99 Discount Price $199.99 … [Read More...]

Why Boris Johnson’s tech vision lacks the support of investors

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The PM’s ambition seems to be central to trade talks with the EU – but if there is a strategy behind it, he’s not letting onDid Boris Johnson and Dominic Cummings, before they reportedly embraced the idea that the UK must be free to throw oodles of state cash at technology companies to create home-grown global champions, ask tech specialists what they thought of this grand vision?If they did, the reply may have been: not much. That, at least, is the rough view of James Anderson of Edinburgh-based Baillie Gifford, probably this country’s most celebrated tech investor. Continue reading… [Read More...]

Hedge fund joke

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Index fund genius, a long only guru and a data scientist are flying in to deliver investment presentations to an institutional client in New Zealand. As the plane comes in to land they see one purple sheep alone in a field.Professor Passive says “Every kiwi sheep is purple! I must buy them ALL, now. At ANY price owners ask, no matter how high or overvalued. It’s not my money. No need to know ovine business or earnings. Forget about analysis or due diligence. Ignore risk! Prices are always correct as markets are efficient. I have academic tenure and Swedish taxpayers awarded me a fake ‘Nobel’ in economic ‘sciences’ which I’ve been using for asset gathering marketing ever since. Risk free…for me.”Beta Bandit says “Some … [Read More...]

Lockdown savings? Put them in an Isa while you can

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The Covid pandemic has bolstered many people’s balances – here are some tax-efficient places to put your cashIsas have fallen out of favour with some consumers but with tax increases potentially on the way to cover the bill for the coronavirus pandemic, experts are urging those with money to save or invest to take advantage of the allowances available to them.Many Britons have seen their incomes remain much the same but their spending plummet as a result of being stuck at home, and huge sums of cash have built up in bank and building society accounts. Figures from the Bank of England show that households had accumulated £125bn in excess savings by November 2020. And this week the Bank’s policymaker Gertjan Vlieghe said: “Significant further … [Read More...]

Welcome to the Mad, Mad World of Social Security

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When should you start taking Social Security benefits? If you haven’t yet asked that question, you will one day. Few personal finance questions matter as much as this one. That’s because the majority of retirees get more than half their income from Social Security. And close to 20 percent of retirees get all their income from Social Security.1 That’s why the question is so important. Unfortunately, the Social Security system is complicated — so complicated, in fact, that only 33 percent of respondents, aged 55 to 65, were able to pass 12 “true or false” questions on Social Security posed by MassMutual.2 So, when should you start taking Social Security benefits? The rules are so complicated that the answer is … it depends. For example, you can start to receive Social Security … [Read More...]

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