Fundsmith, an investment management company based in London, released its 2022 yearly update. A copy of the same can be downloaded here. In 2022, the Fundsmith Equity Fund declined -13.8% compared to a 7.8% decline for the MSCI World Index in sterling with dividends reinvested. However, the fund is the best performer in the Investment Association Global sector since its inception in November 2010. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Fundsmith highlighted stocks like Amazon.com, Inc. (NASDAQ:AMZN) in 2022 yearly investor letter. Headquartered in Seattle, Washington, Amazon.com, Inc. (NASDAQ:AMZN) provides consumer products and subscriptions. On January 11, 2023, Amazon.com, Inc. (NASDAQ:AMZN) stock closed at $95.09 per share. One-month return of Amazon.com, Inc. (NASDAQ:AMZN) was 7.51%, and its shares lost 41.02% of their value over the last 52 weeks. Amazon.com, Inc. (NASDAQ:AMZN) has a market capitalization of $970.08 billion.
Fundsmith made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its 2022 yearly investor letter:
“Amazon.com, Inc. (NASDAQ:AMZN)’s stock declined by about 95% during the Dotcom bust. It has since risen about 600 fold to its peak. This may seem cold comfort and to quote an old adage, ‘When the police raid the bawdy house even the nice girls get arrested’. But looking back to the example of Amazon over the Dotcom meltdown and its aftermath, it is a lot more comforting to own businesses which are performing well fundamentally when the share price goes down than to be found playing Greater Fool Theory in the shares of a company with no cash flows, profits or even revenues.”
Photo by Sunrise King on Unsplash
Amazon.com, Inc. (NASDAQ:AMZN) is in 2nd position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 269 hedge fund portfolios held Amazon.com, Inc. (NASDAQ:AMZN) at the end of the third quarter, which was 252 in the previous quarter.
We discussed Amazon.com, Inc. (NASDAQ:AMZN) in another article and shared Mormon Church’s 5 biggest stock positions. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
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