London-based investment management firm Fundsmith has released its annual update for 2022. A copy of the same can be downloaded here. In 2022, the Fundsmith Equity Fund fell -13.8%, while his MSCI World Index of Pounds with dividends reinvested fell his 7.8%. However, the fund has been the best performer in the investment association’s global sector since its launch in November 2010. Plus, check out the fund’s top 5 holdings to discover our best picks for 2022.
Fundsmith highlighted stocks such as Amazon.com, Inc. (NASDAQ:AMZN) in its 2022 investor letter. Headquartered in Seattle, Washington, Amazon.com, Inc. (NASDAQ:AMZN) offers consumer products and subscriptions. On January 11, 2023, Amazon.com, Inc. (NASDAQ: AMZN) stock closed at $95.09 per share. His one-month return for Amazon.com, Inc. (NASDAQ:AMZN) was 7.51% for him, and the company’s stock has lost 41.02% in value over the past 52 weeks. Amazon.com, Inc. (NASDAQ:AMZN) has a market capitalization of $970.08 billion.
Fundsmith made the following comments about Amazon.com, Inc. (NASDAQ:AMZN) in its 2022 Annual Investor Letter:
“Amazon.com, Inc. (NASDAQ:AMZN) shares fell about 95% during the dotcom bankruptcy. Since then, it has risen about 600 times by its peak. This may seem like cold comfort. To quote the old adage, “Even nice girls get arrested when the police raid a dirty house.” But looking back at the dot-com meltdown and subsequent Amazon example, it’s better to own a business with good fundamentals when the stock price goes down, playing Greater Fool Theory with the company’s stock. much more comfortable than No cash flow, no profit or even revenue. ”
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Amazon.com, Inc. (NASDAQ:AMZN) ranks second on a list of the 30 most popular hedge funds. According to our database, 269 hedge fund portfolios held his Amazon.com, Inc. (NASDAQ: AMZN) as of the end of the third quarter, compared with 252 last quarter.
We covered Amazon.com, Inc. (NASDAQ:AMZN) in a separate article, sharing the five largest stock positions of the Mormon Church. Additionally, for investor letters from hedge funds and other leading investors, visit the Hedge Fund Investor Letters Q4 2022 page.
Disclosure: None. This article was originally published on Insider Monkey.