Intelligent Money - your investment questions answered

[2Btoo]

Burwood said:

PorkInsider said:

Phooey said:

Also is there a list somewhere of all the stocks in PHE?

I believe it's these, unless anything changed:

Domino's Pizza
Nike
Coca Cola
Apple
Starbucks
Amazon
Colgate Palmolive
Unilever
Netflix
Diageo

Domino/Starbucks were replaced about 10 months ago with PG/GSK
Phooey-i mailed you a graphic

PHE is quite disappointing at the moment. I have a goodly amount of my investment tucked up in it and it's not been good to watch it sink lower and lower - it's down nearly 9% in the last 6 months. By contrast Fundsmith is up about a little over 4% in the same timeframe and I understand that the stocks held in the two are quite similar. I'll buy the argument that Fundsmith figures dropped further early last year and therefore climbed more as we came out of the dip but the performance since then still seems to be stronger by comparison.

I'm genuinely confused about what's going on. I don't want to get out of PHE because I want to believe that it's a good'un for the long term but it's costing me quite a lot at the moment.

(I acknowledge that I talk about Fundsmith a lot on here and don't want to upset the IM chaps by doing so. I came over to IM from a large holding in Fundsmith as I thought they held better promise, hence the repeated comparisons.)

[JulianPH]

Grandad Gaz said:

What’s going on with PHE?

I thought that once that crackpot Trump was out of the Whitehouse, then things would quickly improve.

Just shows how little I know about markets

It is just part of normal market cycles. The $ fell against the £, giving a lower result in Sterling (this has now started to move in the other direction, which is good for us), tech stocks have been hit and just like some the other stocks we hold they have grown so well (28% last year, which includes the CV19 crash) that there has been a bit of a pullback.

It is never nice, but it is important to remember PHE is a long term position and in achieving strong long term gains periods like this are always going to happen.

Cheers

[JulianPH]

Phooey said:

Regarding PHE - I appreciate like any stock/s it could dip further.. but is there a strong argument for putting money into this whilst it is suffering a bit?

Also is there a list somewhere of all the stocks in PHE?

Morning mate

There is always an arguement for buying at a discount, providing you are happy to sit through any further falls, should this happen.

The stocks, in no particular order, are:

• Apple

• Amazon

• Netflix

• Coca-Cola

• Nike

• Unilever

• Colgate-Palmolive

• Procter & Gamble

• GlaxoSmithKline

• Diageo

[markiii]

quick question on GIA with the end of the tax year approaching, do I need to declare any gains in the GIA or do they only realise when those funds are removed?

[JulianPH]

Mr Whippy said:

Hmm that's not ideal. These delays should be advised as a general note to holders of the funds, or the emails incorporate the latest completion times to set expectations.

I thought they did and will get Coops to pick up on this with Alex and his team.

They aren't delays of our making, it is the same with everyone when it comes to selling down funds. We can't do anything about this (as no one else can) other to ensure it is better communicated.

Cheers

Julian

[JulianPH]

Mr Whippy said:

Just a quickie.

I had email confirmation of Defensive to cash pre 9am on 25th Feb (was day before iirc), but the 'graph' of value took a sudden dip between 2nd and 3rd. Is this indicative of the fund being sold down?
I was sure you could see constituent parts of funds being sold down in the past and see the individual element progress? The email suggests I can see progress updates on my dashboard but it just says "in progress"

My email confirmation suggested 3-5 working days, so I assume there are currently delays? Is 5 days a hard limit? Has something gone wrong?

I saw the note about delays if you were to alter funds after a certain date but I got the request in 2 or 3 days before that point.


It'd be useful if the system gave an email update when things have timed out on expectations.

If there are broad delays it'd be useful to know why, and expectations on when money will be available.


Thanks

Please see my post above and I will get Coops on this straight away for you.

[Burwood]

markiii said:

quick question on GIA with the end of the tax year approaching, do I need to declare any gains in the GIA or do they only realise when those funds are removed?

Only realised gain are taxable. You may however want to utilise your CGT allowance to reset -chat to IM

[JulianPH]

2Btoo said:

PHE is quite disappointing at the moment. I have a goodly amount of my investment tucked up in it and it's not been good to watch it sink lower and lower - it's down nearly 9% in the last 6 months. By contrast Fundsmith is up about a little over 4% in the same timeframe and I understand that the stocks held in the two are quite similar. I'll buy the argument that Fundsmith figures dropped further early last year and therefore climbed more as we came out of the dip but the performance since then still seems to be stronger by comparison.

I'm genuinely confused about what's going on. I don't want to get out of PHE because I want to believe that it's a good'un for the long term but it's costing me quite a lot at the moment.

(I acknowledge that I talk about Fundsmith a lot on here and don't want to upset the IM chaps by doing so. I came over to IM from a large holding in Fundsmith as I thought they held better promise, hence the repeated comparisons.)

You won't upset us!

You are right, Fundsmith fell by a lot more than PHE so has had further to go during the bounce back. It has therefore outperformed us over the last 6 months, though still underperformed in general:



There are always cycles when it comes to investing and the very nature of Fundsmith and PHE means that we will often rise/fall during different ones.

6 months is a snapshot, you need to look at behaviour over several years to see the wider picture.

Please get in touch if you would like to chat over any of this.

Cheers

Julian

[JulianPH]

markiii said:

quick question on GIA with the end of the tax year approaching, do I need to declare any gains in the GIA or do they only realise when those funds are removed?

Hi Mark

You only need to deslare any gains when you sell of transfer (though there may have been gains realised upon rebalancing).

Income need to be declared in the tax year it is received (regardless of whether you take it or it is reinvested.

You will get a tax certificate from us showing gains and income (and any losses) to enable you to declare everything and Nik and his team can go through all of this with you.

Cheers

Julian

[JulianPH]

Burwood said:

markiii said:

quick question on GIA with the end of the tax year approaching, do I need to declare any gains in the GIA or do they only realise when those funds are removed?

Only realised gain are taxable. You may however want to utilise your CGT allowance to reset -chat to IM

An excellent point mate.

[Phooey]

JulianPH said:

Morning mate

There is always an arguement for buying at a discount, providing you are happy to sit through any further falls, should this happen.

The stocks, in no particular order, are:

• Apple

• Amazon

• Netflix

• Coca-Cola

• Nike

• Unilever

• Colgate-Palmolive

• Procter & Gamble

• GlaxoSmithKline

• Diageo

Thanks mate

The peak date of PHE was 13/10/2020. From 13/10/2020 to today PHE is down 10.91%. My view is PHE will come back, so have moved some cash today into PHE. Fingers crossed

[JulianPH]

Phooey said:

Thanks mate

The peak date of PHE was 13/10/2020. From 13/10/2020 to today PHE is down 10.91%. My view is PHE will come back, so have moved some cash today into PHE. Fingers crossed

I certainly hope you have good luck, my money is in there too!

[JulianPH]

PHR UPDATE

Just to let everyone know, we are exiting Norwegian and Delta today.

Norwegian is above our target price and Delta has hit 98% of its target, which is good enough for me.

Everyone invested well get an email with full details.

I will post another update tomorrow.

Cheers

Julian

[Ali2202]

JulianPH said:

PHR UPDATE

Just to let everyone know, we are exiting Norwegian and Delta today.

Norwegian is above our target price and Delta has hit 98% of its target, which is good enough for me.

Everyone invested well get an email with full details.

I will post another update tomorrow.

Cheers

Julian

Damn! More profit and the ensuing struggle of deciding what to do with it!

Now if you could let us know what you are doing with yours Julian that would be quite interesting.

Just being nosey you see?

ETA Nice job indeed and Thanks to Team IM.

Edited by Ali2202 on Thursday 4th March 17:53

[JonChalk]

JulianPH said:

PHR UPDATE

Just to let everyone know, we are exiting Norwegian and Delta today.

Norwegian is above our target price and Delta has hit 98% of its target, which is good enough for me.

Everyone invested well get an email with full details.

I will post another update tomorrow.

Cheers

Julian

Good job Julian and team.

PHR looking a little thin / empty now - maybe a bit too exposed and at the whims of individual companies.....

Decisions, decisions, decisions.

[Phooey]

JulianPH said:

PHR UPDATE

Just to let everyone know, we are exiting Norwegian and Delta today.

JP's spooked the market.. HODL mate for another (green) day!!!

[i4got]

Phooey said:

JulianPH said:

PHR UPDATE

Just to let everyone know, we are exiting Norwegian and Delta today.

JP's spooked the market.. HODL mate for another (green) day!!!

Looks like Powell's Fed speech was bad timing for the PHR sale.

[Phooey]

i4got said:

Looks like Powell's Fed speech was bad timing for the PHR sale.

Very.

[chrisr111r]

Phooey said:

The peak date of PHE was 13/10/2020. From 13/10/2020 to today PHE is down 10.91%. My view is PHE will come back, so have moved some cash today into PHE. Fingers crossed

Typical, I invested about 2 months later , and i'm showing -9.5% in my dashboard but it's boosted a little by the +6.44% for phr
I understand it's a long term hold philosophy, so I think I'll continue my strategy of investing phr returns into phe for a bit of cost averaging

[Simpo Two]

Phooey said:

i4got said:

Looks like Powell's Fed speech was bad timing for the PHR sale.

Very.

So, not selling then?