However, while many investors have panicked as a result of the uncertainty associated with the terrible virus, some of the world’s top portfolio managers have been going against the herd and taking advantage of share price weakness to add to portfolio holdings.

This is a reaction such portfolio managers often have in the face of the regular uncertainty that the world faces for one reason or another.

With that in mind, here’s a look at how UK portfolio manager Nick Train – who is often referred to as ‘Britain’s Warren Buffett’ given his superb long-term performance track record – has been handling coronavirus-related uncertainty.

Buying opportunities

According to the most recent factsheet for the Lindsell Train UK Equity fund, Train added to a number of companies exposed to Asia in January, including alcoholic beverages champion Diageo (down 6% in January) and luxury fashion brand Burberry (down 11% in January). Both were sold off by investors as a result of uncertainty related to the coronavirus. “We took advantage of the panic to add to each,” he said.

His rationale for buying? “We did so not because we have any insight into the severity and duration of the epidemic. Instead, because we have been rewarded more often than not during previous unsettling episodes by treating them as buying opportunities. We hope we are right again on this occasion and that the distress and suffering the virus has already caused will soon dissipate,” he wrote to investors in his funds.

Clearly, Train believes the recent share price weakness has provided attractive entry points for long-term investmors. And to borrow a line from Buffett, he’s being “greedy while others are fearful.”

Short-term challenges

It’s important to realise that while companies with exposure to Asia, such as Diageo and Burberry, may have attractive long-term growth stories, it may not be plain sailing in the short term due to the effects of the virus. 

In Diageo’s case, it’s worth noting that rival Pernod Ricard – the world’s second-largest spirits group behind Diageo – recently cut its full-year profit growth outlook for 2019-2020 stating that the coronavirus epidemic is likely to have a “severe impact” on its third-quarter performance.

Meanwhile, fellow rival Remy Cointreau recently said: “The potential impact of the coronavirus, if any, will be significant for our business because we are exposed to China. We do not have a quantified scenario but clearly we are concerned as China is a major growth engine.”

And in a recent research report on the effects of the virus in China, analysts at Moody’s wrote: “Because of travel restrictions and quarantine measures to contain the infection, we expect alcohol consumption to slump and this will hit quarterly earnings.”

I’m bullish on the long-term investment case for Diageo due to its exposure to emerging markets and I see the current valuation as attractive. However, given the uncertainty associated with the coronavirus, we can’t rule out further share price volatility in the near term. 

The post Here’s how ‘Britain’s Warren Buffett’ is handling global uncertainty appeared first on The Twelfth Magpie.

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Edward Sheldon owns shares in Diageo and has a position in the Lindsell Train UK Equity fund. The Motley Fool UK has recommended Burberry and Diageo. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Should you be concerned about this underperformance? I don’t think so. Here, I’ll take a look at why the fund fell short and explain why I’d stay invested.

High conviction approach 

One of the main reasons Lindsell Train failed to reach its benchmark last year is it’s a highly-concentrated fund (meaning individual holdings can have a large impact on overall returns) and a number of stocks, including some top holdings, underperformed the index. 

For example, two of the fund’s top holdings, Unilever and Diageo (which at one stage accounted for nearly 20% of the overall portfolio) experienced pullbacks in the second half of the year on the back of sterling strength and emerging market growth concerns. This will have hit the fund’s performance, given their large weightings.

Other underperformers in the portfolio included Hargreaves Lansdown (it suffered from the Neil Woodford debacle), Pearson (poor results) and World Wrestling Entertainment (it rose 144% in 2018 so was probably due a pullback). When you only hold a small number of stocks, a handful of underperformers can have a significant impact on your overall performance.

Growth vs value

You could also perhaps argue that portfolio manager Nick Train’s investment style, which focuses on high-quality growth businesses, wasn’t as effective in 2019 as it has been in recent years.

I say this because the S&P 500 value index actually outperformed the S&P 500 growth index for the year, returning 31.9% to 31.1% (9.9% vs 8.3% in the final quarter). Train’s style has generally worked very well since the fund’s launch in 2011, as growth has been in vogue, but no style outperforms forever.

I’m still backing Train

While last year’s performance was a little underwhelming, there are a few reasons I’d continue to back Train. For a start, the portfolio manager has an excellent long-term track record.

Between its launch in 2011 and the end of 2019, Lindsell Train Global Equity delivered a return of 317.3% versus 170.9% for the MSCI World index. And, over five years, it’s the best performing global equity fund on the Hargreaves Lansdown platform by a healthy margin. 

Secondly, I like Train’s investment style (it’s similar to that of Warren Buffett’s), and many of the fund’s holdings. When you consider the growth prospects of holdings such as PayPal, Walt Disney, and Diageo, the future looks bright.

Note that Train sees his holdings as “very long duration, steadily growing assets – the embodiment of the best that equities offer,” and says that over time “the longer-term underlying growth trends should win out.”

Finally, I’ll point out that every fund manager underperforms the market at one stage or another. A period of short-term underperformance is very normal. So, I’m not going to ditch the global equity fund after one disappointing year.

That said, as always, it’s important to be aware of the risks associated with the fund. Diversifying your money over several different funds, to lower your overall portfolio risk, is generally a good idea.

The post Lindsell Train Global Equity underperformed in 2019. Should you be concerned? appeared first on The Twelfth Magpie.

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Edward Sheldon owns shares in Unilever, Diageo, Hargreaves Lansdown and has a position in the Lindsell Train Global Equity fund. The Motley Fool UK owns shares of and has recommended PayPal Holdings, Unilever, and Walt Disney. The Motley Fool UK has recommended Diageo, Hargreaves Lansdown, and Pearson and recommends the following options: long January 2021 $60 calls on Walt Disney and short April 2020 $135 calls on Walt Disney. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Of course, some funds have better track records than others. With that in mind, here’s a look at what I consider to be some of the best funds for an ISA or SIPP today.

UK growth

If you’re looking for growth, one top UK-focused fund I would definitely check out is the CFP SDL UK Buffettology fund. What I Iike about this fund is that portfolio manager Keith Ashworth-Lord invests with a Warren Buffett-like approach, focusing on high-quality companies – both large and small – that have strong competitive advantages. It also has an incredible track record, having delivered a return of around 132% over the last five years. Fees are 1.19% per year through Hargreaves Lansdown.

Other funds I like for UK growth include Chelverton UK Equity Growth (five-year return 159%), Slater Growth (five-year return 91%), and Lindsell Train UK Equity (five-year return 76%).

UK income

If your focus is more on dividends and/or portfolio stability, I’d take a look at the TB Evenlode Income fund. This fund also invests in high-quality businesses. However, it’s more focused on large-cap, dividend-paying FTSE 100 companies such as Unilever, Diageo, and Sage. It has returned about 78% over the last five years, which is a fantastic performance for an income-focused fund. Fees are 0.9% per year through Hargreaves.

Other funds I hold in high regard include Franklin UK Rising Dividends (five-year return 53%), and Man GLG UK Income (five-year return 69%).

Global equities

If you’re looking for international exposure, it’s hard to look past Fundsmith Equity. Since its launch in November 2010, this fund has delivered a return of over 300%, outperforming its benchmark by a huge margin (five-year return 137%). One reason I Iike Fundsmith is that it appears to be well placed to capitalise on a number of powerful structural trends in the years ahead. Given its exposure to high-quality companies with strong long-term growth prospects, I believe there’s a good chance it will continue to deliver strong long-term returns for investors. Fees are 0.95% through Hargreaves.

Also in the global equity space, I like the Lindsell Train Global Equity fund. This one, which has returned about 142% over the last five years, also has a brilliant long-term track record. It’s available with a low annual fee of 0.5% through Hargreaves.

Other funds I’d consider here include Blue Whale Growth (launched in September 2017 and has been a top performer since then) and Morgan Stanley Global Brands (five-year return 113%).

Specialist

Finally, if you’re interested in adding a niche fund to your ISA or SIPP, I’d suggest having a look at the Fidelity Global Technology fund. Given that technology is having a huge impact on the world right now, I think allocating a little bit of capital to the tech sector is a smart move. This fund has returned a very impressive 210% over the last five years and fees are 1.04% through Hargreaves.

The post Looking for the best funds for a Stocks & Shares ISA or SIPP? I’d invest in these top performers appeared first on The Twelfth Magpie.

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Edward Sheldon owns shares in Hargreaves Lansdown, Unilever, Diageo, and Sage, and has positions in the Fundsmith Equity, Lindsell Train Global Equity, Franklin Rising Dividends, Blue Whale Growth, and Lindsell Train UK Equity funds. The Motley Fool UK owns shares of and has recommended Unilever. The Motley Fool UK has recommended Diageo, Hargreaves Lansdown, and Sage Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

If you’re trusting someone else to invest your money, it’s critical to understand how they’re investing it and the risks involved. With that in mind, today I want to highlight three risks associated with one of the UK’s most popular investment funds, the Lindsell Train Global Equity Fund.

Highly concentrated fund

In my view, the most important thing to be aware of in relation to this fund is that it’s an extremely ‘concentrated’ fund. According to the fund’s most recent interim report, at 30 June it held only 27 stocks (29 if you count the fact that it owned A and B shares in two companies).

That is a very low number of holdings for a fund, meaning that there’s a much higher level of stock-specific risk compared to the average fund, which probably contains around 50–60 holdings, or an index tracker, which may hold hundreds or even thousands of stocks.

As a result of its concentrated nature, if one or two stocks in the fund were to underperform, the overall performance of the fund could be impacted substantially. 

Big bets on a number stocks

Additionally, on top of its concentrated nature, the fund has very large allocations to a number of stocks. For example, at 30 September, 8% of the fund was invested in Unilever, while 7.7% of the fund was invested in Diageo, and 7.6% was invested in Heineken.

Again, this means that there is a high degree of stock-specific risk. If these three stocks were to underperform (and Unilever and Diageo have both underperformed in the last month as the pound has risen) the overall performance of the fund could suffer.

Large exposure to the consumer staples sector

Finally, be aware that this fund is heavily exposed to the consumer staples sector. Not only does it own Unilever, Diageo, and Heineken, but it also has large positions in Pepsi-owner Pepsico and Cadbury-owner Mondelez International, and a smaller position in alcoholic drinks maker Brown-Forman.

Overall, 45.6% of the fund was invested in the consumer staples sector at 30 September. So, there’s definitely a fair bit of sector risk associated with the fund too. If the consumer staples sector was to undergo a period of underperformance, Lindsell Train Global Equity’s performance could suffer.

Of course, these three risks are not necessarily a reason to avoid the Lindsell Train Global Equity Fund. The fund has a brilliant performance track record, and I see it as an excellent option for those looking for global equity exposure.

It’s just important to be aware of the risks and to ensure that the fund is suited to your risk tolerance before investing.

The post The Lindsell Train Global Equity Fund: 3 risks you need to know about appeared first on The Twelfth Magpie.

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Edward Sheldon owns shares in Unilever and Diageo and has a position in the Lindsell Train Global Equity fund. The Motley Fool UK has recommended Diageo and Unilever. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Active funds can beat the market 

Personally, I still believe that actively-managed funds are one of the best ways to generate wealth over the long run. With this type of fund, you benefit from the experience of a portfolio manager, who will aim to outperform the market by picking out the most attractive stock opportunities.

Of course, it is difficult to beat the market consistently, particularly in the short term. Yet some portfolio managers do have excellent long-term track records when it comes to beating the market. For example, in the case of the Fundsmith Equity fund, which is run by Terry Smith, this fund delivered a return of 365% between 1 November 2010 (its inception) and 30 September 2019, versus 178% for the MSCI World Index, meaning it outperformed the market by a wide margin. Similarly, the Lindsell Train UK Equity fund, which is run by Nick Train, delivered a return of 389% between 10 July 2006 (inception) and 30 September 2019, versus 119% for the FTSE All-Share index. That’s more than three times the market return.

With a tracker fund, you’re never going to beat the market. However, with an actively-managed fund, it’s certainly possible. And bear in mind that tracker funds are relatively unproven in a major market downturn as they have only been around on a mainstream basis for a decade or so. That’s why I continue to favour actively-managed funds over passive ones, despite the fact that their fees are higher.

Understand the risks

That said, when investing in actively-managed funds, it’s crucial to be fully aware of the risks and understand exactly what you’re investing in. So, for example, with Fundsmith, be aware that it’s a concentrated fund that holds less than 30 stocks. This introduces stock-specific risk. Additionally, it has a heavy bias to the US. That’s another major risk. It’s also highly concentrated in three sectors – consumer staples, technology, and healthcare. So, there’s sector risk too. It’s essential to understand the risks before you invest. 

Risk management

Because each actively-managed fund has its own risks, it’s sensible to diversify your portfolio over a number of funds. In the same way that you wouldn’t just buy one stock for your portfolio, it’s not sensible to just buy one fund – it’s too risky. So, for example, if you’re looking to invest £10,000 in actively-managed funds, I’d split it over four or five funds with different portfolio managers and different strategies. That way, if one underperforms, your overall portfolio won’t be impacted too badly.

Overall, I still think actively-managed funds have a place in the modern-day portfolio. The key is to be aware of the risks.

The post Should you dump actively-managed funds like Fundsmith after the Woodford debacle? appeared first on The Twelfth Magpie.

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Edward Sheldon has positions in the Fundsmith Equity fund and the Lindsell Train UK Equity fund. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

In a letter to Woodford investors, the fund’s authorised corporate director Link Fund Solutions wrote: “We anticipate that the suspension of dealing is likely to last until early December while we implement the strategy to reposition the portfolio in order for the fund to be reopened at that time, and which is conditional upon achieving the target fund profile.”

Woodford himself apologised and said: “I understand the frustration, inconvenience and anxiety the continued suspension of the fund will be causing you and I am extremely sorry for putting you in this situation.”

Let’s take a look at what this development means for investors.

A little bit of clarity

Naturally, this news of an extended suspension is going to be frustrating for many investors. Given that it’s still early August, we’re looking at the suspension lasting at least another four months. For those who need access to their money, the news is not good.

However, on the plus side, this announcement does bring a little clarity to the situation. As I wrote in early July, there was always a strong chance that the suspension could drag on for a number of months due to the fact that Woodford had to sell so many smaller companies. The worst bit though, for many investors, was not knowing how long the fund would be suspended for.

At least now we have some clarity. That said, there’s no guarantee that the fund will be opened in December, however, another four months should be long enough for Woodford to fully reposition the portfolio.

Fund repositioning

Once the fund is reopened, investors can expect to see a very different portfolio. In the recent update, Woodford said that investors will see a portfolio with “more FTSE 100 and FTSE 250 companies, but still reflecting the same investment strategy” and added that since the fund’s suspension in early June, up to 80% of proceeds from share sales have been reinvested in FTSE 100 companies. It will certainly be interesting to see which FTSE 100 names Woodford goes for.

Alternative options

Of course, when the fund does reopen, there is no requirement to remain invested in it. You may want to move your money into a new fund – there are plenty of other options. Two UK equity funds that I like, in particular, are the Lindsell Train UK Equity Fund, which focuses on high-quality stocks, and the Franklin UK Rising Dividends Fund. Both have performed well in recent years and are available on the Hargreaves Lansdown platform with low fee structures.

You could also look at investment trusts such as the City of London Investment Trust, which is a conservatively-run UK equity income investment with a good long-term track record, or alternatively, you could even look at putting together your own portfolio of dividend stocks.

Whatever you do though, ensure that your portfolio is fully diversified. The ultimate takeaway from the Woodford suspension is that when investing for the future, risk management is critical. Never put all your eggs in one basket.

The post The Woodford Equity Income fund could be locked until December. Here’s what you need to know appeared first on The Twelfth Magpie.

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Edward Sheldon owns shares in Hargreaves Lansdown and City of London Investment Trust and has positions in the Lindsell Train UK Equity fund and the Franklin Rising Dividends fund. The Motley Fool UK has recommended Hargreaves Lansdown. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Interested to learn what FTSE 100 stock Train has been buying more of recently? Read on to find out.

Be greedy when others are fearful…

It’s no secret that Train is a fan of Hargreaves Lansdown shares (LSE: HL). A quick glance at the top 10 holdings of the Lindsell Train UK Equity fund will tell you that Hargreaves is a key holding for the fund.

However, what’s interesting is that since Hargreaves shares have taken a battering recently over the Woodford Equity Income fund suspension, Train and his team have been boosting their holding in the stock. Indeed, an announcement from Hargreaves on Thursday afternoon shows that Lindsell Train has recently boosted its stake in the online broker from 11% to 12% – an increase of 9%. Train appears to be following the classic Buffett advice: “Be  fearful when others are greedy and greedy when others are fearful.”

Purchase rationale

Digging out the month-end commentary for the Lindsell Train UK Equity fund, Train had this to say about Hargreaves Lansdown shares: “We were not surprised by the fall and agree that HL’s reputation has taken a blow. As I write this report HL shares have recovered from the lows of June – up some 9% from that level. We take this as investors coming to the conclusion that HL’s reputation can recover – over time. We agree and accordingly have added to our holding over the last few weeks.”

Should investors follow?

Should investors follow Nick Train and load up on Hargreaves shares themselves?

Let me start by saying that I am a big fan of Hargreaves Lansdown as a company. The investment platform it offers is world class and its customer service is also exceptional. I also think the long-term growth story for the stock is extremely attractive as stock markets tend to rise over time, and this should benefit Hargreaves. For this reason, I bought some shares in the company myself late last year and early this year at around the 1,600p to 1,700p mark.

Would I buy more shares now though? Probably not. With the shares back above 2,000p, the forward-looking P/E is around 34, which doesn’t leave a big margin of safety. Even though the stock has pulled back as a result of the Woodford scandal, I would wait for a bit of market volatility before buying more, as HL is a stock that tends to experience sharp sell-offs when equity markets are volatile. Such volatility can provide very attractive entry points.

Overall, I think that Hargreaves Lansdown is a great stock to own for the long term, however, right now, the price is not right for me.

The post One FTSE 100 stock that Britain’s Warren Buffett just bought more of appeared first on The Twelfth Magpie.

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Edward Sheldon owns shares in Hargreaves Lansdown. The Motley Fool UK has recommended Hargreaves Lansdown. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Focus on the company, not the market

The Lindsell Train UK equity fund that Nick manages himself has returned around 70% over the last five years, outperforming the FTSE 100. He very rarely buys or sells companies, preferring not to time the market. Instead he chooses to back brands and management that he likes. This includes Hargreaves Lansdown, which I have recommended recently for its high quality returns.

Train’s strategy might surprise a lot of people as he is not concerned with buying companies with seemingly good valuations. I say ‘seemingly’ because value does not mean the same as cheap. Companies that seem cheap can often be very bad value if they continue to fall, and expensive companies can be good value if they continue to rise. The problem is that low price-to-earnings ratios (P/E) and falling share prices are very tempting entry points, but they are almost always signs of trouble ahead (and I speak from experience when I say this). The success of Nick Train’s funds over the long term shows that ‘high’ valuations are often fair and entirely justified.

Three key features

The three qualities that all of Train’s holdings have in common are, first, a good operating margin (normally over 15%), and second, a high return-on-capital-employed (ROCE), which measures how effectively investments in a company perform. This ratio is key in terms of how quickly a business can generate growth. Together these first two show if a firm is very effective at generating capital and redeploying it in the business.

Thirdly, Train also looks for businesses that have a good brand that should continue to do well regardless of increased competition or difficult economic conditions.

Burberry and Diageo are two of his holdings that fit these three criteria. Burberry is a luxury brand with a 17% operating margin and a ROCE of 30%. Diageo is the owner of many popular drinks brands like Johnnie Walker and Guinness. It has a 30% operating margin and a ROCE of 16%. Both of these companies have strong brands which are known around the world and should continue to do well regardless of economic conditions. These are both great examples of high quality brands, but I could have picked almost any of the holding in his funds and they would have a similar profile.

Good company

If this all sounds quite familiar, then it is possibly because Nick’s strategy is very similar to that of the greatest investor of all time, Warren Buffett. Both of them very rarely buy or sell and yet have outperformed the market over long periods of time. This shows that the secret to investing success is much simpler than most people realise if you can stay disciplined enough to stick to your convictions. 

The post How you can invest like Britain’s best fund manager appeared first on The Twelfth Magpie.

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Robert Faulkner own shares in Hargreaves Lansdown. The Motley Fool UK has recommended Burberry, Diageo, Hargreaves Lansdown, and Lloyds Banking Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

If you’re unsure of which investment trusts to consider, then you might want to start out by taking a look at these top-performing trusts.

Long-term growth

For investors looking for long-term growth, I reckon the Lindsell Train Investment Trust (LSE: LTI) is worth a closer look. Shares in the investment trust have delivered a total return of 241% over the past five years, allowing it to easily beat the Morningstar Global Investment Trust category performance of 130%.

The Lindsell Train Investment Trust seeks to maximise long-term total return by investing in global equities and other Lindsell Train funds. But what’s unusual about this investment trust is that it also owns a significant minority stake in its investment manager, Lindsell Train Limited. This 24.3% stake in the investment management company co-founded by Michael Lindsell and Nick Train accounts for 37.9% of the value of its portfolio.

With such a large position in a single unquoted investment, investors in the trust are highly exposed to fluctuations in the valuation of that single company. And although its position in Lindsell Train Limited has no doubt played a big role in the fund’s recent outperformance, the opposite can also happen in the future.

Nevertheless, many investors seem confident that the fund will continue to deliver market-beating returns, as shares in the investment trust currently trade at a 25% premium to its net asset value of £680.03 per share.

Japan

The Baillie Gifford Japan Trust (LSE: BGFD) is a standout performer in the Japanese category, with a five-year return of 248%, compared to the average investment trust peer performance of 176%.

The fund has been managed by Sarah Whitley since 1991 and primarily focuses on medium-to-smaller-sized Japanese companies. Despite sluggish economic growth in that country, Whitley reckons there are still good opportunities for many stocks in her portfolio.

She likes to pick stocks with above average growth prospects and top holdings include Softbank (3.6%), Yaskawa Electric (2.9%), Misumi (2.8%), Start Today (2.8%) and Persol Holding (2.5%).

Sector focus

As technology disruption continues to impact the business landscape, the technology sector has proven to be a consistent market leader in recent years. With this in mind, the Allianz Technology Trust (LSE: ATT) is a solid pick for investors expecting further significant gains.

Over the past five years, the trust has delivered a cumulative performance of 217%, earning it a top-quartile ranking in the technology sector category. Many well-known tech brands dominate its portfolio, including Amazon (6.6%), Apple (6.2%) and Facebook (4.3%) — its top three positions. But the fund also holds big positions in lesser known names, such as cloud computing firm Workday (3.7%) and payments solutions company Square (3.2%).

And as expected, the US is by far its largest geographical exposure, representing just over 80% of total assets. This is followed by China (6.6%), France (3.0%) and South Korea (2.7%).

The post Can these top-performing investment trusts help you to achieve financial independence? appeared first on The Twelfth Magpie.

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Jack Tang has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.