Financial Times - It’s déjà vu all over again

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.

The Telegraph - Why it is safe to pay up for quality

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.

Financial Times - Never invest just to avoid tax

Terry Smith points out that people who invest just to avoid tax often fail to look as closely as they should at fee structures and would be better off putting money into something they really want to own.

Financial Times - Sorting the wheat from the chaff

Terry Smith explains what he means by investing in 'good companies' and argues that Warren Buffett was right when he said that return on capital employed is the best way of assessing the performance of a company.

Financial Times - Market timing: don’t try this at home

Terry Smith writes that trying to time markets can achieve the opposite of what is desired and points out that there are only two types of investors – those who know they can’t make money from market timing, and those who don’t know they can’t.
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