Consumers will “both crave and will return to ‘real’ activities and experiences” as soon as it is safe to do so, according to Lindsell Train’s Nick Train as the performance of retail stocks in his portfolio offering ‘virtual’ experiences surges ahead of those offering ‘real’ activities.
With restaurants and pubs tentatively opening across the world and sporting events having restarted behind closed doors as lockdown restrictions have eased, investors holding related stocks have hoped that struggling share prices would see an imminent bounce. However, volatility has remained. Shares in Italian football team Juventus, which is held in the Lindsell Train Global Equity fund, slumped 12% after the club was eliminated from the UEFA Champions League by French rivals Lyon last week. That followed a 3% drop from the stock through the course of July despite the team winning it...
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