UK investors can access investment trusts that hold Anthropic (Claude), with #SMT#USA and #MNTN all giving exposure between 2.5%-7.4% of NAV. A really good example of the uniqueness of investment trusts and managers with conviction/skillset to back private companies early.
Decent news from CVS #CVSG today, announcing an Australian acquisition and share buyback. Shares are still treading below the 2025 VWAP (1266p), expect move upside if it can close and hold above this.
Oxford Instruments #OXIG recently broken out to ATHs, not surprising with end markets including semiconductors and quantum computers. £500m revenues, £1.8bn mkt cap seems reasonable relative to US peers - more upside to come?
@fundhunter_co Also the types of companies they invest in. As a holder I’d hoped they would stick to Fundsmith type businesses (small, predictable, everyday products/services) but they’ve gravitated towards consultancies (Exponent) and now an AI/beauty data business that’s only just IPOd (2/2)
@fundhunter_co The market is probably looking at their portfolio on a sub 2.5% FCF yield versus rates now 5%+ and concluding there are better opportunities. Might also be do to with #SSON being weak at the “Don’t Overpay” point (1/2)
@MaynardPaton I hope I’m wrong but this could be the start of something. Struggle to trust a CEO who claims to be the “Amazon of cakes”. Back of the fag packet numbers showing avg store turnover around £365k pa when a cursory visit to one could show this probably isn’t the case. CAKE 2.0?
@MaynardPaton Excellent article Maynard. Auditors rarely resign without reason - especially when they’re working with companies with good growth prospects/scope to provide additional services to. Inventory days was the big red flag for me + the auditors stating issues with control env (1/2)
@CapitalPmh@eggfreecakeuk@SukhChamdal@pardip_dass They did. They also said “Control weaknesses were identified over the implementation of the new stock system and stock costing procedures”. Inventory days o/s are 54 - sounds like a lot of stale sponge. Another franchiser (DOM) are 18 days. Food for thought.
@FinanceFunky Agree to a point. Time is important too e.g holding Microsoft from $60 in 2000 to $15 in 2009 would obviously look like a poor investment but time has been a healer since.
@fundhunter_co @ITinvestorUK Latest 13f is showing a holding of $491m for $CHD which will include both funds - given their Sustainable fund is £424m in size. It's an interesting addition but probably reflects the fact that few quality stocks currently meet their valuation requirements