has dumped shares in Paypal and Starbucks while criticising Unilver for “virtue signalling” and prioritising other shareholders., also issued a mea culpa to his customers as he admitted that his stock picking skills had not been up to scratch in 2022.
That is a worse performance than the MSCI World Index of companies, which lost 7.8 per cent, and the FTSE 100, which gained 1 per cent in the same period. He said some of these fell because of issues within the businesses and some because of wider economic factors. Elsewhere in the letter, the stock picker said that the maker of Hellmann’s mayonnaise and Dove soap had for years ignored his fund’s advice on the need to improve performance.– which he described as a “near-death experience” – and urged the firm’s management to focus on improving performance.
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