Brad... This provided a lot of VALUE to me as a new investor. Thank You! You are a great teacher and one of the few rational KZfaqrs that I respect and listen to about Value Investing.

You are confusing Sage Group PLC with Sage Therapeutics.

Hi, Brad, appreciate your work on this. Few days ago I looked through Smithson as well, the companies I noted are Danish-based SimCorp A/S (asset-light, well managed with 18% net margin, no debt, close to lower price range) and A.O. Smith.

You give such good value in your videos. Thanks so much

I like your analysis and research!! Thank you for sharing.

great work as always, thank you ! fyi, here is the sector percentage. Information Technology 44.1 Industrials 20.9 Consumer Discretionary 10.5 Healthcare 10.3 Communication Services 4.7 Consumer Staples 4.4 Financials 3.0 Cash 2.2

Great work as usual and really inspiring. Bravo!

Hi Brad, Thanks for the informative video. I am wondering what the moat is for Domino's , TechOne, Qualys which is allowing them to generate such FCF and if that moat is sustainable for years to come as the industries they are in are very highly competitive and they need USPs to distinguish themselves.

Hi Brad, Thanks for the video. I just wanted to highlight that Sage is not a healthcare business, but a technology software business.

Brad, Thanks for sharing the information. Any reason why you are not looking into Cost of Capital ?

Hey Brad. In his book is that how Terry looks at valuation? Fcf yield? Or how does he go about valuation? Thanks in advance.

I follow the work of Terry Smith for 3 years now and I've also read his latest book. In my opinion, you don't necessarily need to buy it. It is a low-effort book, i.e. it is just a collection of the fundsmith letters (which you can read online for free) plus some other newspaper articles he wrote. Don't get me wrong, I fully ejoyed reading it because I definitely like his strategy and his British humor. But if you know Terry Smith already, you don't learn anything new by reading his book.

Great as always brad, Fevertree is v.interesting and has a great brand. Done some work on it and should be on a watchlist imo, not enough margin of safety for me at the current price.

Pretty important point regarding funds only owning only a small percentage, can also mean there wasn’t enough liquidity which stop them buying a larger share though it’s more likely that small holding they have less confidence.

Awesome work Brad!

Loved your analysis

Great job, tonns of value! 👍👍👍

Thanks for another great video

I heard Sabre recently purchased a small paper company. lots of synergies between DM and Sabre.

Hi Brad, I have actually studied and analyzed all the top US holdings in Fundsmith. Would love to give you more insights on them!

Sage is accounting software not health. Similar to QuickBooks in the US.

I have a stupid question that I would greatly appreciate you answering. Why is Dominos market cap on the NYSE different to it's market cap on the LSE? And if I buy the LSE version will I get exposure to the business they do internationally?

Hi Brad. I can send you the top 10 holdings. I live in the UK its very easy to get them

Started to DCA with Fundsmith

IS $DPUKY equivalent to DOM in UK?

If you look at last 10 year returns for sage group it's about 2% ROE. Are we missing something that Terry Smith sees in Sage.

I wouldn't call larger positions "higher conviction" just because they're 6% of AUM vs. 2%. It merely mirrors past performance. DPZ may well have been started at 2% and it just ran 200% vs. other positions with the same "conviction".

Sage Group is a software co; think you're confusing it with Sage Therapeutics

is fundsmith typically and historically buy and hold?

I’ve been watching Fundsmith and Smithsonian for some time. I think the highest allocations are not necessarily the highest conviction. It’s party the “don’t overpay” moto. They do try to buy at reasonable prices, and sometimes the window closes quickly and great companies are usually expensive. For instance, last March Fundsmith sold Clorox when the price became extreme to the upside, and took the brief opportunity to buy Starbucks and Nike as they dived, which had been in their watchlist. From the Smithson portfolio, I own Wingstop so far, a small allocation, not long after they did, I think at a reasonable price.

Sage group is accounting software.

Hi Brad, Sage is an account & resource management software company. I believe it is fairly widely employed by companies throughout the UK.

Sage group is enterprise software

Isn't Domino's trending down because of delivery apps?

Domino pizza apparently is not less than 2B market cap I believe.

first!

I think a better alternative to sabre corp would be travelsky if you could stomach holding a Chinese soe. Which is basically the chinese equivalent of it. Total addressable market is huge with still lots of room to grow. Bonsai partners has a write up for it.