{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"PIWORLD Investor Podcasts","title":"Blue Whale: Interview with Stephen Yiu, Chief Investment Officer (CIO)","html":"","width":"100%","height":180,"duration":2746,"description":"This video can be seen at: https://www.piworld.co.uk/2019/09/11/blue-whale-interview-with-stephen-yiu-chief-investment-officer-cio/\n \nBlue Whale was launched in September 2017, since when it’s achieved an annualised return of 21%. Here, Stephen gives us an insight to how he achieves those return, and what they do differently. An interesting insight to those who manage their own money, or those who are interested specifically in Blue Whale Capital.\nIntroduction – 00:18 How do you know Peter Hargreaves – 00:34Why did you launch Blue Whale in 2017? – 01:00What does Blue Whale offer vs other funds? – 02:07What are you investing caveats? – 05:28Modelling – 06:55Timing the market – 10:23How much movement in the top 10 holdings? – 13:17Are there any holdings that didn’t go so well? – 16:05Have you had any holdings you’ve lost money on? – 19:07What time period do you use to judge performance? – 21:45How long do you spend on research? – 23:54How quickly can you respond to results? – 29:30Why do you predominantly invest in the US? – 32:12Which other markets would you look at? – 36:55Why large caps? – 37:54What should we expect the average stock turnover pa? – 40:16How much is the AMC? – 42:33What are your ambitions for Blue Whale? – 43:03\nBlue Whale investment objective: The investment objective of the fund is to achieve capital growth over the long-term by investing in equities on a global basis, with a current focus on developed markets. The portfolio will be concentrated, generally comprising between 25 to 35 stocks. In our view investments must fall into the below criteria in order to qualify for selection within the portfolio: 1. The business must be fundamentally attractive, this means • it has the ability to grow and improve profitability over the long term • it must not face structural or imminent cyclical issues 2. The business must have an attractive price; • the business must have a current valuation that is attractive relative to its future growth and...","thumbnail_url":"https://img.transistorcdn.com/oB5fNE4aIAia_YyTCKvE1PzrZQaD1Fjo_P7m7T9Aw_Y/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9kOTJi/ODBiMzBmOGFhZWJi/MWEzYThkMzAyNmZm/MTdjZi5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}