Biography

Terry Smith is the founder of Fundsmith and is often referred to as "Britain’s Warren Buffett." He is known for his straight-talking style, his hatred of high fees, and his consistent outperformance of the market through a simple, high-conviction strategy.

Investment Philosophy

Smith’s philosophy is three-pronged: "Buy good companies. Don’t overpay. Do nothing." He looks for companies with high returns on capital employed (ROCE), strong intangible assets (brands, patents), and resilient business models. He avoids banks, airlines, and heavy industry, preferring consumer staples, healthcare, and high-quality technology.

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