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Post by rgs2001uk on Aug 12, 2021 20:54:39 GMT 7
^^^ Pretty much the same for me. My investment trusts recently returned to the high point valuation of February, and now are a couple of percent over that. Year to date I'm up 6.8% (excluding income), which I'm happy with. In fact, only one of my holdings is in negative territory, HDIV. I really should take my own advice and not hold bonds. Turning to MNP, it's my second best Trust performer YTD, up 15.3%. (The best is CLDN, up 16.4%.) Pretty sure I wouldn't have predicted those two as winners back at the turn of the year. Good man, thats what I meant to write. I have only looked at the bottom figure, will need to do further research. |
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chiangmai
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Post by chiangmai on Sept 7, 2021 5:14:11 GMT 7
With markets setting new records and many P/E's in the stratosphere, does anyone see the point of remaining invested? The Covid vaccine surge looks very much like false hope. We're heading out of summer into the colder seasons at a time when many economies are starting to open up, this feels like an accident waiting to happen. I know I know, markets can remain irrational for longer ......, still!
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AyG
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Post by AyG on Sept 7, 2021 5:44:10 GMT 7
^^^ Of course there's reason to remain invested. Just plenty of reason to avoid companies with absurd P/E ratios. Despite the pandemic people have still been buying toothpaste and eating food. People still drink alcohol, get hangovers and buy paracetamol. Pets still need to be fed. Things people don't need in a pandemic include electric cars & space rockets.
It may be a less exciting ride, but sticking with quality companies with wide moat coverage and, even if you don't come out on top, you'll still do OK in the long run. And it's far better than sticking with cash, which only loses spending power year after year.
And talking of absurd P/E ratios, I happened a few minutes ago to look at how Wise (formerly Transferwise) has done since launch, to which the answer is "pretty well" - from 880 to 1020. However, it's now trading on a P/E ratio of 333.33 (according to Citywire).
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chiangmai
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Post by chiangmai on Sept 7, 2021 6:11:51 GMT 7
The problem, I think, is that as the balloon expands and becomes ever more stretched, the risk of its bursting will annihilate anything nearby as well. Innocent and unintended collateral damage is unavoidable as an indices falls, the toothpaste makers and lettuce growers are likely to get badly burned when the Tesla's and Wise's are vaporized (not that Tesla will even get singed because Elon is a really shrewd bloke and Tesla is a world beating car company). And then we have inflation, which we are told will be different this time, for once they are the right kind of leaves on the track. I don't know about anyone else but I don't believe that nonsense.
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chiangmai
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Post by chiangmai on Sept 7, 2021 7:23:28 GMT 7
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AyG
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Post by AyG on Sept 7, 2021 9:16:16 GMT 7
^^^ Stockopedia is a hopeless source of information. There's no way MNP's PE could be 7.07.
As far as I can tell, for MNP, its EPS is 1.97p and its price is 422, so P/E = 422/1.97 = 214. This seems on the high side, but is possible given some of the companies it holds.
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Post by rgs2001uk on Sept 7, 2021 21:05:37 GMT 7
The problem, I think, is that as the balloon expands and becomes ever more stretched, the risk of its bursting will annihilate anything nearby as well. Innocent and unintended collateral damage is unavoidable as an indices falls, the toothpaste makers and lettuce growers are likely to get badly burned when the Tesla's and Wise's are vaporized (not that Tesla will even get singed because Elon is a really shrewd bloke and Tesla is a world beating car company). And then we have inflation, which we are told will be different this time, for once they are the right kind of leaves on the track. I don't know about anyone else but I don't believe that nonsense. Begs the question,where do we park our money? I dont do, property, bonds, precious metals or cryptos. Hold your nerve and keep the faith. |
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chiangmai
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Post by chiangmai on Sept 8, 2021 1:33:09 GMT 7
The problem, I think, is that as the balloon expands and becomes ever more stretched, the risk of its bursting will annihilate anything nearby as well. Innocent and unintended collateral damage is unavoidable as an indices falls, the toothpaste makers and lettuce growers are likely to get badly burned when the Tesla's and Wise's are vaporized (not that Tesla will even get singed because Elon is a really shrewd bloke and Tesla is a world beating car company). And then we have inflation, which we are told will be different this time, for once they are the right kind of leaves on the track. I don't know about anyone else but I don't believe that nonsense. Begs the question,where do we park our money? I dont do, property, bonds, precious metals or cryptos. Hold your nerve and keep the faith. Wealth preservation funds would be a good start, instead of funds such as BG and SM which are guaranteed to loose money in a major crash and take ages to recover. |
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AyG
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Post by AyG on Sept 8, 2021 6:56:38 GMT 7
Begs the question,where do we park our money? I dont do, property, bonds, precious metals or cryptos. Wealth preservation funds would be a good start Can you name a wealth preservation fund which doesn't invest in bonds or gold? Personal Assets [PNL] is often considered such a fund, and it's currently 57% into bonds and gold. Capital Gearing [CGT] is 44% bold and gold. |
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chiangmai
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Post by chiangmai on Sept 8, 2021 7:03:31 GMT 7
Wealth preservation funds would be a good start Can you name a wealth preservation fund which doesn't invest in bonds or gold? Personal Assets [PNL] is often considered such a fund, and it's currently 57% into bonds and gold. Capital Gearing [CGT] is 44% bold and gold. I don't believe there is a magic bullet solution. rgs says he doesn't do bonds etc yet he still wants a safe place to park his money. Cake and eat it, he/we have to make some trade offs such as MA that includes some bonds, wealth pres. funds are as close as you can get to having the best of both worlds, or so it seems. Whilst you're here: who is your go to developed Asia fund these days, preferably ex Japan? I continue to hold FSSA Asia Focus and I do remember not long ago you espoused something or other. BG Asia Pac. is interesting but it's overweight Japan plus it's volatility is stellar, just looking for some reasonable options, most of which seem to include Schroder products. |
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AyG
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Post by AyG on Sept 8, 2021 7:41:44 GMT 7
My Asia funds, FWIW, are SOI, PAC, JMG & ATR. SOI has performed poorly for a while now. If it doesn't pick up soon I'll be ditching it. PAC and JMG I've held since almost the dawn of time, and am happy with both of them (though PAC is rather too India-heavy for my liking - that said, that may not be a bad thing. I wouldn't have it as my only Asian pick.) All are 5* rated by Morningstar, except SOI which is 4*. If I had to suggest just one, it would be ATR, which happens to be managed by Schroder (as, of course, is SOI).
Getting a fair bit of press recently has been Pacific Horizon [PHI]. I haven't researched it thoroughly, but superficially it looks good. It's managed by Baillie Gifford, and normally trades at a premium.
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chiangmai
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Post by chiangmai on Sept 8, 2021 7:59:16 GMT 7
Thanks, I shall ponder whether it's worth switching to the total return fund. As you say, PHI looks interesting but it's not for me in these uncertain times. I get the idea that BG may have made some sort of deal with the devil because nearly all their sectors seem to be performing in overdrive.
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Post by rgs2001uk on Sept 9, 2021 20:28:42 GMT 7
Can you name a wealth preservation fund which doesn't invest in bonds or gold? Personal Assets [PNL] is often considered such a fund, and it's currently 57% into bonds and gold. Capital Gearing [CGT] is 44% bold and gold. I don't believe there is a magic bullet solution. rgs says he doesn't do bonds etc yet he still wants a safe place to park his money. Cake and eat it, he/we have to make some trade offs such as MA that includes some bonds, wealth pres. funds are as close as you can get to having the best of both worlds, or so it seems. Whilst you're here: who is your go to developed Asia fund these days, preferably ex Japan? I continue to hold FSSA Asia Focus and I do remember not long ago you espoused something or other. BG Asia Pac. is interesting but it's overweight Japan plus it's volatility is stellar, just looking for some reasonable options, most of which seem to include Schroder products. I am holding not folding, its taken me years (of trial and error) to get to where I am now, a shout out to those on here who introduced me to things like Mid Wynd, Fundsmith and Martin Currie, which I am more than happy to hold for the long term, I see no reason to sell. Can be summed up in three words, risk versus reward. |
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Post by rgs2001uk on Sept 9, 2021 20:32:33 GMT 7
Thanks, I shall ponder whether it's worth switching to the total return fund. As you say, PHI looks interesting but it's not for me in these uncertain times. I get the idea that BG may have made some sort of deal with the devil because nearly all their sectors seem to be performing in overdrive.  , aint that the truth, a while back I took profits on my BG stocks because they accounted for over 40% of my portfolio, reinvested elsewhere within my portfolio. Six months later, BG accounts for 41% of my portfolio. |
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AyG
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Post by AyG on Sept 18, 2021 8:39:57 GMT 7
MNP down 5.46% over the last week. Down 3.86% yesterday alone. However, I think that's a statistical glitch (I do hope so) - something to do with the final trade of yesterday being a large uncrossing trade at a price significantly lower than previous trades.
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, aint that the truth, a while back I took profits on my BG stocks because they accounted for over 40% of my portfolio, reinvested elsewhere within my portfolio. Six months later, BG accounts for 41% of my portfolio.
