Archive

Terry Smith details Fundsmith's simple three stage investment process - invest in good companies, don't overpay, and then do nothing.

Terry Smith links his definition of shareholder value - whether or not a company is able to generate a sustained return on capital employed above its cost of capital - with shareholder activism.

Terry Smith gives his views on why you should seek to invest in good companies and how to define what a good company is.

Terry Smith explains what he thinks the terms "shareholder value" and "activist shareholder" really mean and how they fit into the world of investment.

Terry Smith argues that the trend of companies that grew by merger rushing to split themselves up is normally better for investment bankers' bonuses than it is for long-term shareholders.

Terry Smith speaks to Barclays Stockbrokers TV about his investment strategy and why he gives almost no thought to the global economy.

Terry Smith appreciated Tesco's problems earlier than most. Now he identifies another world-famous company that canny investors would do best to avoid.

Terry Smith explains the reasons why he doesn't own bank shares, despite being the once top-rated banking analyst in the City, and points out that having an understanding of banks would make anyone more wary of investing in them.

Terry Smith discusses how the name of a fund can be a warning sign for investors and explains the importance of only investing in things you understand.

Terry Smith reveals the warning signs that investors in Tesco ignored and explains why he is unlikely to ever own a retailer in the Fundsmith Equity Fund.

Terry Smith speaks to Morningstar about Fundsmith's strategy of only buying good companies and the importance of compounding.

Terry Smith addresses the question - given that so many investors have had such a bad experience in emerging markets, is there a better way to invest in the developing world?

Terry Smith uses the example of investing in 'Bric' funds to play the theme of emerging markets growth to explain the dangers of making 'no brainer' investment decisions.

Terry Smith explores what can be learnt from the changes in the constituents of the stock market over the past 100 years.

Terry Smith discusses the reasons why Fundsmith avoided investing in IBM in 2010 and the problems with share buybacks.

Terry Smith points out why most investors are their own worst enemy and the dangers of groupthink.

Terry Smith assesses whether shale is the 'miracle' it has been described as, or something that investors are far from certain to make money from.

Terry Smith uses the example of Microsoft to discuss why it is important to stick to the facts when it comes to investing.

Terry Smith applies Peter "Yogi" Berra's famous witticism of “It’s déjà vu all over again” to the investment industry, pointing out how many dubious investment products have been sold before.

Terry Smith shows why investors should be willing to pay more for quality businesses due to the power of compound interest. Understanding its effects is essential to success in investment, yet it remains a mystery for many people.