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Is the Scottish Mortgage Investment Trust a bargain?
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Is the
Scottish Mortgage Investment Trust(LSE: SMT) a good buy today? This is a question I have been asking myself recently after the shares declined more than 20% from their all-time high, reached in the middle of February.
At one point at the beginning of March, the stock had fallen 30% in just two weeks.
US$12.3 TRILLION out of thin air…
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These numbers might look bad, but they need to be put into perspective. Over the past 12 months, shares in the investment trust have returned 54%, even after including the recent decline.
FTSE 100 nursing triple digit loss as Wall Street slumps and cryptocurrencies plunge
Companies
FTSE 100 nursing triple digit loss as Wall Street slumps and cryptocurrencies plunge
Global markets under pressure on inflation fears, while digital currencies slide after latest Chinese clampdown
FTSE 100 down 104 points
US stocks slide
3.21pm: Cryptocurrencies drop by a quarter
It is not just stock markets heading lower, so too are cryptocurrencies.
But the falls there are of a different order.
Bitcoin dropped by around 25% to below US$32,000 at one point today, and has now fallen more than 50% since its record highs.
It means the digital currency has also lost all the gains it made since Tesla’s billionaire boss Elon Musk revealed in February that the company had purchased around US$1.5bn worth of Bitcoin.
IN a world all too often beset by a supreme lack of original thinking, the meditations of fund management veteran James Anderson are always a breath of fresh air. Mr Anderson’s thought process, and the approach taken by his fellow Scottish Mortgage Investment Trust joint manager Tom Slater, seem like the antithesis of the Stepford-style thinking of many highly paid management consultants and the big corporate bosses who crave this expensive advice. Of course, the management consultants and bosses try to dress up their tiresome “take 10 per cent or 15% out of costs” plan as something different. They try to weave some strategy around their umpteenth cost-cutting round.