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clock Created with Sketch. 12/11/22
17:12
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Originally posted by Esmer:
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A recurring theme during the latest quarterly reporting season has been that many stocks fell sharply when their results were announced, including many stocks in LSF's portfolio. This week it was the turn of JHX and NWS, which each fell by more than 10% on the day that their results were released. Interestingly, some stocks that suffered from this syndrome have recovered well. For example, SBM has regained most of its results-driven fall of a few weeks ago, mainly because the price of gold has risen. SFR fell by 13% on the day its results were announced a few weeks ago but since then has blossomed and is now well above where it was before it released its results. NWS fell by 11% on the day that it released its results, and then rose by 8% the next day, and then rose by 5% the day after that. Here is an idea for LSF to consider. In the recent uncertain market, if each stock in LSF's portfolio had been sold just before its quarterly results were announced, and then bought back again afterwards, then LSF's NTA might now be much higher.
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I Find it interesting that you have invested in one of the best equity managers anywhere, and you then go and analyse their performance in detail. They have just put out a podcast telling you as an investor everything that you need to know, You personally aren't required to stock pick...... presumably that's why you have made the wise decision to invest in LSF !
(20min delay)