Terry Smith: Key Lessons from Fundsmith’s Latest Annual Meeting | The Acquirer's Multiple®

Terry Smith: Key Lessons from Fundsmith’s Latest Annual Meeting | The Acquirer's Multiple®

Terry Smith’s latest shareholder meeting offered a refreshing dose of straight talk for investors. His candid reflections cut through the usual market noise and provided some lessons worth remembering. Even top performers have off years, as Smith openly admitted when discussing Fundsmith’s recent performance: “Last year wasn’t our finest hour. We were up 8.9% in the T class in Sterling with dividends reinvested, while the market was up 20%.” But…