Is Active Management Worth Paying For? With Terry Smith (CEO, CIO & Founder of Fundsmith)

[@daveandjanwoolf8078]

I have been a Fundsmith investor from the outset and have never regretted it. Now retiring as I approach my 70th year I will look to start to withdraw to supplement my Pensions and Capital Expenditure. Despite continuous research over the years I have never come across any Active Fund Manager who meets my needs as much as Terry and his team. The one thing go get with FS is no BS - if its bad - its bad and if its good - its good. All investors should remind themselves on a daily basis - there is only ONE guaranteed certainty - Markets will rise and fall BUT not necessarily in that order!

[@moneymazepodcast]

Many thanks for your positive feedback! If of interest & your inbox isn't too hectic, check out our free email newsletter too: www.moneymazepodcast.com/contact

[@Garce227]

Terry is an encyclopaedia. He is just an amazing orator and someone who has always an amazing story to tell.

[@moneymazepodcast]

Many thanks for your positive feedback! If of interest & your inbox isn't too hectic, check out our free email newsletter too: www.moneymazepodcast.com/contact

[@Chiefmismaker]

One of the best interviews i've seen with Terry, and i've seen most of them!

[@Nova2Yung]

I don't invest in any active management funds or fundsmith however the knowledge Terry has is immenseful and i learn a lot from listening to him , thank you both for this interview

[@ericbullock6553]

Very very good. Thank you both

[@moneymazepodcast]

Thanks!

[@priteshpatel889]

Fantastic discussion. Great questions and equally great exposition from Terry Smith.

[@moneymazepodcast]

Thanks!

[@pt99810]

Exceptional interview. As always, Mr Smith is lucid, immensely knowledgeable, open and honest and totally free from meaningless waffle. I feel good that his team look after my investment.

[@moneymazepodcast]

Thanks for the positive feedback. Was great to feature Terry on the podcast & to speak with him!

[@greeng313]

Its always good to hear Terry's thoughts. Great interview.

[@moneymazepodcast]

Thank you!

[@backpackly]

The best interview of Terry that I have found, fantastic work!

[@richardwhite1120]

Absolutely first class, very enjoyable.

[@moneymazepodcast]

Thank you so much

[@emelpolat4762]

Just finished Masters of the air today. It was very good!

[@moneymazepodcast]

Great show & a moving tribute to those who fought; the allied bombing campaign can be overlooked by some historians in the wider WW2 narrative. If of interest & your inbox isn't too hectic, check out our free email newsletter too: www.moneymazepodcast.com/contact (*Can't promise much aviation/history content, but can be useful for those working in finance/investment management!)

[@TOBrien2]

Excellent interview, really enjoyed this 👏🏻👏🏻 - thank you both!

[@moneymazepodcast]

Thank you for your kind words!

[@peanutbutterkong9362]

Thanks. Thanks to Terry and thanks for posting this. Enjoyed watching this. Saw the big dip in Adyen too ;)

[@moneymazepodcast]

Thanks so much. Really glad you enjoyed the conversation.

[@larrygrubart9492]

This was a terriffic interview! Terry shared a lot of important concepts that every investor can use to improve their results.Thank you both.

[@moneymazepodcast]

Thanks!

[@timfireblade]

I listened to this whilst doing my shopping so may have missed it, did he answer the question "Is Active Management Worth Paying For?" I've tried searching through the transcript.

[@moneymazepodcast]

Terry is considered an active manager, taking a hands-on approach to managing investments to capitalise on market inefficiencies & price movements. Therefore the whole interview is a general argument for active management as a strategy, relative to passive tracker funds which have rose to market dominance over the last 50 years (most notably provided by the big three; Vanguard/BlackRock/State Street & their index funds/ETFs). Terry does explain in his (recommended) owner's manual that the active versus passive debate may be less binary than some perceive, see on P2: www.fundsmith.co.uk/media/ykbfhfvu/owners-manual.pdf All content on the Money Maze Podcast is for your general information and use only and is not intended to address your particular requirements (full disclaimer on moneymazepodcast.com), so we can't give any investment advice for legal/regulatory reasons under UK legislation & as a small media/podcast business! Hope this helps! Others are welcome to share their views on active versus passive in the comments, but we can't take/endorse any particular position.

[@alanwerrell5411]

According to the Hargreaves and Lansdown website the cumulative performance of Fundsmith is 60% over the past 5 years. The 5 year cumulative performance of the Legal & General Global 100 Index Trust is 111%. Why would you pay Terry Smith 1% to underperform the index which only costs 0.09%??

[@Chiefmismaker]

Good point and Terry's argument might be that he is taking less risk. He aims for "the best long term risk-adjusted return", as he explains.

[@BibinBCherian]

Thanks, good one.

[@moneymazepodcast]

Thanks!

[@millennialinvesting3828]

Great video

[@moneymazepodcast]

Thanks so much!

[@moniquefrench]

This was a treat to listen to ❤. Wish I could get a hold of his Accounting related book.

[@moneymazepodcast]

Many thanks for your positive feedback! If of interest & your inbox isn't too hectic, check out our free email newsletter too: www.moneymazepodcast.com/contact

[@alexfrog9191]

try annas archive ;)

[@CompoundingwithGuyMatt]

Great interview! Hopefully Terry will come back soon! /G

[@moneymazepodcast]

Thank you!

[@rocking1313]

Success doesn't come through imitation - Henry Ford

[@moneymazepodcast]

Great quote & epoch-defining industrialist! If only our podcast could go back in time for an interview with him....

[@kgr_alex]

nice podcast :) thanks

[@moneymazepodcast]

Thanks for listening

[@johnkirton2534]

FWIW, their call centre in Essex is very well run.

[@moneymazepodcast]

Thank you!

[@pokerrich9]

It’s worth paying with good fund managers - but 0.6% is the price anything more is a rip off

[@slapjuice]

according to whom? if you're commenting on this video it means you're as broke as me, and thus have no real clue

[@isthereanyname]

lol

[@davidgray3321]

I really like Terry he is very personable, but actually his fund isn’t that good, I have invested in a tracker that is far cheaper and performs a lot better. And two other managed funds that are miles ahead. But I still love listening to him, great chap.

[@daviddoink872]

what are the tracker and managed funds , tnx ?

[@davidgray3321]

@@daviddoink872 hello my name is known so for security reasons I don’t divulge my investments it allows a picture of information to be built that is not good for my security, unhelpful I realise but these days one has to be very carefully. Good luck.

[@coderider3022]

Msci world beats it for 1/4 cost ?

[@pfuiteufel1385]

No, it doesn't. Fundsmith does about 16% p. a., MSCI World delivers about 8%.

[@MARTINA-gc3tq]

Hahahahahahaha…….. said Jack Bogle.

[@Michael_NV]

Great guest, moderator could improve a bit.

[@tictoc5443]

Smith is good but not in buffets league imo

[@bartz4439]

Terry is such a liar :) he deliberately misleading his investors by using wrong wording to hide his underperformance. Lost all respect to him. Either you have balls and say how it is or you're bs story teller

[@domb5513]

Terry Smith is "woke"? He stood for the Referendum party and is very right-wing, from what I can tell

[@bartz4439]

@@domb5513 I will edit it as it make no sense. Of course he is not woke, I'm sure autocorrect replaced swiped word, thanks for pointing it out. He is liar tho and that's fact

[@Chiefmismaker]

What a disgusting comment. How about you check your facts?

[@Chiefmismaker]

@@domb5513 Not very right wing, just probably 'conservative' and clearly a brexiteer.

[@Chiefmismaker]

@@bartz4439 Give evidence of your "facts" please.

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