Financial Times - Where's the beef?

Terry Smith discusses how the popular US catchphrase 'Where’s the beef?' is relevant to the current predicament of McDonald’s, the world's largest fast food operator.

Fidelity - Three steps to heaven

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

The Telegraph - Is this the next Tesco?

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

Financial Times - Why I don’t own bank shares

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.
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