Scottish Mortgage is 予定 a shake-up but this is why I 投資する: ANNE ASHWORTH
The solid-sounding 指名する of Scottish Mortgage belies the racy nature of this FTSE 100 member 投資 信用.
Its 大臣の地位 is not made up of 貸付金s 前進するd to Scots homeowners. Rather it is a bet on 革新 in AI (人工的な 知能) and other fields in the US, Europe and 中国.
Scottish Mortgage's largest 引用するd company holdings 含む the tech 巨人 Nvidia, 製造者 of AI microchips and ASML, the Dutch group, the number one in the 製造業の of the machines that make microchips.
Scottish Mortgage has been a long-称する，呼ぶ／期間／用語 支えるもの／所有者 of Tesla and seen the 株 ロケット／急騰する but other 破壊的な bets have not paid off recently
More 議論の的になる is the 信用's unquoted '私的な 公正，普通株主権' element which 構成するs about 27 per cent of the 大臣の地位. Some of the 投資s are obscure. Others are world-famous such as ByteDance, t he Chinese owner of TikTok and Elon Musk's SpaceX.
These 商売／仕事s excite many 投資家s. But they do not impress the 支えるもの／所有者 of 5 per cent of the 信用's 株 - US 行動主義者 投資家 Paul Singer, boss of the Elliott 投資 管理／経営 hedge 基金 and 退役軍人 of 戦う／戦いs against the boards of 麻薬s group GSK and others.
Singer may own the bookshop Waterstones and was proprietor of the football club AC Milan until 2022. But the 79-year old does not seem to wish to 充てる his time to such 追跡s, 存在 more 利益／興味d in 軍隊ing change at the companies where he 投資するs.
Scottish Mortgage's other 投資家s ought now to consider if they like the 戦略 Singer wants the 信用 to 追求する - for he may 後継する.
Baillie Gifford, Scottish Mortgage's 経営者／支配人, is known for having the courage of its 有罪の判決s.?
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Some call the 姿勢 'arrogant' and even '教団-like'. But Singer can be very persuasive. This is the man who impounded an Argentinian 大型船 to 軍隊 the country to settle lapsed 社債 負債s.
Singer argues that Scottish Mortgage should buy 支援する its own 株, a 機械装置 that 目的（とする）s to 上げる the 株 price, 減ずるing the 割引 between the price and the 信用's NAV - 逮捕する 資産 value.
A 狭くするing of the 割引 would be welcome. But to 達成する this, some of the 引用するd 在庫／株s might need to be sold off, 増加するing the 割合 held in the more illiquid unlisted companies.
Trimming these unlisted holdings would be challenging. 普通は some would proceed to an IPO, becoming 引用するd companies. But there is いっそう少なく activity in this section of the market at 現在の.
配置する／処分する／したい気持ちにさせるing of these 火刑／賭けるs by other means 危険s 奪うing the 信用 of some of the 未来 星／主役にするs of tech.
This 適切な時期 to be a small-time 投機・賭ける 資本主義者 by 支援 such 商売／仕事s is one of the 推論する／理由s why I have put a small 量 into Scottish Mortgage each month for more than a １０年間.
But this is an adventurous choice, suitable for those happy to take a long -称する，呼ぶ／期間／用語 見解（をとる）.
The 信用's 株 have almost halved since their 頂点（に達する） in the autumn of 2021 and there is no 保証（人） that Singer's 介入 can 速く 逆転する this 傾向.
If you would prefer something with a lower 危険 profile, there are many other 全世界の 信用s such as F&C which also 供給する some AI 産業の 革命 （危険などに）さらす.
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