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‘We won’t fail just because we ignore Nvidia’: Terry Smith of Fundsmith
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Returning a second time in the IC Interviews hot seat, Terry Smith is one of the biggest names in the investing world. Having set up the eponymous Fundsmith in 2010, he now manages more than £22bn of British savers’ money and has had his fair share of celebration and criticism.
Funds editor Dave Baxter and Smith unpack everything from Magnificent Seven stocks and the effect of weight-loss drugs on stock markets, to consumer staples and the reason Smith doesn’t want to own market favourite, Nvidia.
Also, find out what quality Smith looks for in companies and fund managers, plus why the fund’s allocation to UK stocks is so minimal.
Timestamps
00:38 Magnificent Seven stocks
3:52 Nvidia
6:41 AI
08:57 Consumer staples and weight-loss drugs
12:06 Novo Nordisk
17:36 What he looks for in companies
20:23 Nike
22:07 Asset allocation and share buybacks
24:48 UK companies and Asia
29:19 Financials
30:27 Judging when there’s a crisis versus a mispricing
35:09 Criticisms of the buy and sell process
39:44 Atlas Copco
41:44 Next and Autotrader
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