Fundsmith SICAV – Fundsmith Equity Fund
€63.58 T Class Acc, 19 Jun 24

Financial Times - Why I never invest in bank shares

Having spent the first decade of my career working in a bank and then becoming a top-rated bank analyst, I find that people often express surprise that I never invest in bank shares. But I think it is precisely because I understand banks that I never invest in their shares. The recent events surrounding the collapse of Silicon Valley Bank (“SVB”) and Credit Suisse reinforce this stance. Why?

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By Terry Smith, Financial Times