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16 August 2024
By Maynard Paton
Could now be the time to back Nick Train?
The buy-and-hold fund manager was for years feted for selecting blue-chip multi-baggers such as Diageo, RELX and London Stock Exchange.
But recent times have witnessed a stark change to market conditions…
…and Mr Train admitting to a “mortifying” underperformance that even necessitated a public apology.
The shares of Lindsell Train Investment Trust, an investment trust managed by Mr Train, have for example lost 60% from their 2019 peak and are now back to a level first achieved eight years ago:
Yet Mr Train’s supporters may now want to consider this £154 million trust as a way of profiting from his potential comeback.
Importantly, this trust owns 24% of Mr Train’s fund-management firm, which last year paid a £39 million dividend split between Mr Train, his colleagues and this trust…
…and yet this 24% stake appears valued by the stock market at less than 2x earnings.
Let’s take a closer look.
Read my full LINDSELL TRAIN INVESTMENT TRUST article for SharePad >>Maynard Paton
