Terry Smith
89 posts
Terry Smith: This Passive-Led Momentum Market Will End BadlyInvestor enthusiasm for artificial intelligence and passive investing has pushed momentum to levels rarely seen in modern markets, creating an increasingly difficult environment…
Fundsmith’s Terry Smith Explains Underperformance and Sticks to StrategyAt the latest Fundsmith Annual Meeting, Terry Smith offered a clear reminder that disciplined investing often looks wrong before it looks right. He opens with disarming bluntnes…
Terry Smith’s Biggest Bets for 2026Terry Smith’s Fundsmith reported an equity portfolio of approximately $19–20 billion in the latest quarter, continuing its trademark approach: a concentrated collection of high-…
Terry Smith: Underperformance In A Strategy Is A Feature Not A FailureTerry Smith has long argued that the basic mathematics of return compounding is still the only serious anchor for long-term investors. In his conversation on Behind the Balance …
Terry Smith Takes Aim at Passive Mania and Mega-Cap ValuationsTerry Smith’s latest shareholder letter offers sober context for a year in which quality-focused equity strategies lagged indexes driven by a narrow group of mega-cap tech names…
Terry Smith: Index Funds Are Not Actually Passive; They Are A Momentum StrategyIn a recent interview with EXPANSIÓN, Terry Smith, the co-founder and CEO of Fundsmith, offered a clear-eyed assessment of current market dynamics. His investment philosophy, wh…
Terry Smith Warns Against Chasing AI FadsIn a recent interview with AJ Bell, Terry Smith of the Fundsmith Equity Fund addressed a period of relative underperformance with his characteristic long-term perspective. He id…
Terry Smith’s Top 5 Positions Represent 43.49% Of The Total PortfolioIn the most recent 13F, Terry Smith’s Fundsmith LLP reported a portfolio valued at $23.02 billion, with the top five holdings making up a substantial 43.49% of total assets. Smi…
Terry Smith: H1 2025 Performance – Winners, Losers, and What’s NextTerry Smith’s mid-year letter for the Fundsmith Equity Fund opens with a direct assessment of performance. In a period marked by underperformance relative to the MSCI World Inde…
Terry Smith: What He’s Selling and WhyEach week, we unpack the latest high-conviction trades from legendary investors — revealing what they’re doubling down on, cutting loose, or quietly walking away from. In the mo…
Terry Smith: No One Will Be Able to Replicate Buffett’s Performance RecordIn a recent Financial Times article, Terry Smith reflects on Warren Buffett’s retirement with a Shakespearean nod: “I shall not look upon his like again,” he writes, invoking Ha…
Terry Smith: Why We Stay Fully InvestedWhen you get a chance, check out the annual letters by Fundsmith’s Terry Smith. His 2014 letter delivers his usual mix of dry wit, no-nonsense advice, and unwavering belief in b…- Terry Smith’s Guide to Spotting Value-Creating BusinessesIn his book Investing for Growth, Terry Smith makes a simple but powerful point about what makes a great business: “A good company is one which creates value for its shareholder…
- Terry Smith: Key Lessons from Fundsmith’s Latest Annual MeetingTerry Smith’s latest shareholder meeting offered a refreshing dose of straight talk for investors. His candid reflections cut through the usual market noise and provided some le…
Terry Smith: The Rise of Passive Investing: A Market Distortion We Can’t IgnoreIn the past few years, the financial world has witnessed an undeniable shift: the relentless rise of passive investing. As Terry Smith pointed out at the latest Fundsmith Annual…
Terry Smith: The Cornerstone of Smart InvestingIn his latest interview with the RWH Podcast, renowned investor Terry Smith reinforced a principle that too many investors ignore: return on capital employed (ROCE). As legendar…
Terry Smith: The Key Traits of Great Capital AllocatorsIn this interview with Investors’ Chronicle, Terry Smith discusses the qualities he seeks in company management, focusing on strong capital allocation, transparency, and integri…
Terry Smith: Why We Avoid Traditional Value InvestingIn his book – Investing for Growth, Terry Smith contrasts his investment approach with traditional value investing, noting that while value investing can offer returns when stoc…