Terry Smith: Investors Just Don’t Read The Accounts

Johnny HopkinsTerry SmithLeave a Comment

In this interview with the Investors’ Chronicle, Terry Smith provides a great illustration of investors not reading the accounts of the companies they’re investing in. Here’s a excerpt from the interview: When we were established ten years ago we were looking through our list of potential investee companies and one … Read More

Terry Smith: We’re The Groucho Marx of Investment

Johnny HopkinsTerry SmithLeave a Comment

In this Fundsmith presentation, Terry Smith explains his Groucho Marx style of investment. Here’s an excerpt from the presentation: Ok last point on this. We’re the Groucho Marx of investment. We don’t invest… Groucho Marx famously would never join any club that would not have him as a member. We … Read More

Terry Smith: Investors Miss The Most Important Thing By Focusing On Whether A Company Is Cheap Or Expensive

Johnny HopkinsTerry SmithLeave a Comment

In his recent presentation with Canaccord Genuity Wealth Management, Terry Smith discusses why investors miss the most important thing by focusing on whether a company is cheap or expensive. Here’s an excerpt from the presentation: In his recent presentation with Canaccord Genuity Wealth Management, Terry Smith discusses why investors miss … Read More

Terry Smith Top 10 Holdings (Q2 2021)

Johnny HopkinsTerry SmithLeave a Comment

One of the best resources for investors are the publicly available 13F-HR documents that each fund is required to submit to the SEC. These documents allow investors to track their favorite superinvestors, their fund’s current holdings, plus their new buys and sold out positions. We spend a lot of time … Read More

Terry Smith: Investing In Bitcoin Is Greater Fool Theory

Johnny HopkinsTerry Smith2 Comments

Earlier this year in his Annual Shareholder Meeting, Terry Smith was asked about his thoughts on investing in Bitcoin. Here’s an excerpt from the meeting: Smith: When I think about investing in Bitcoin, it’s not investing it’s speculating. It’s playing greater fool theory at the moment. Can I buy some … Read More

Terry Smith: 12 Books That Every Investor Should Read

Johnny HopkinsTerry SmithLeave a Comment

In a recent email interview with Business Insider, Terry Smith provided twelve book recommendations that every investor should read: Berkshire Hathaway’s Annual Shareholder Letters The Warren Buffett Way by Robert Hagstrom Liar’s Poker, The Big Short, Flash Boys and Moneyball – All by Michael Lewis The Predators Ball by Connie Brook Hawkwood: Diabolical Englishman by … Read More