Returning a second time in the IC Interviews hot seat, Terry Smith is one of the biggest names in the investing world. Having set up the eponymous Fundsmith in 2010, he now manages more than £22bn of British savers’ money and has had his fair share of celebration and criticism.

Funds editor Dave Baxter and Smith unpack everything from Magnificent Seven stocks and the effect of weight-loss drugs on stock markets, to consumer staples and the reason Smith doesn’t want to own market favourite, Nvidia.

Also, find out what quality Smith looks for in companies and fund managers, plus why the fund’s allocation to UK stocks is so minimal.

Timestamps

00:38 Magnificent Seven stocks

3:52 Nvidia

6:41 AI

08:57 Consumer staples and weight-loss drugs

12:06 Novo Nordisk

17:36 What he looks for in companies

20:23 Nike

22:07 Asset allocation and share buybacks

24:48 UK companies and Asia

29:19 Financials

30:27 Judging when there’s a crisis versus a mispricing

35:09 Criticisms of the buy and sell process

39:44 Atlas Copco

41:44 Next and Autotrader

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Terry Smith on Nvidia, banks and the UK market: IC Interviews 43:24 Share

Investors' Chronicle

What are the Magnificent Seven Stocks?

Why Does Terry Smith Avoid Nvidia?

The Impact of AI on Investing

Consumer Staples and the Rise of Weight-Loss Drugs

Novo Nordisk: A Weight-Loss Drug Giant?

What Qualities Does Terry Smith Look for in Companies?

Nike: A Staple in Consumer Goods

Asset Allocation and Share Buybacks

UK Companies and Their Asian Connections

The State of Financials in the Market

Crisis or Mispricing: How to Tell the Difference

Criticism of the Buy and Sell Process

Atlas Copco: A Hidden Gem?

Next and Autotrader: Market Leaders?

Shownotes Transcript

Terry Smith on Nvidia, banks and the UK market: IC Interviews