Episode 10: Australian property, selling Class and buying Webjet

Of the many challenges that investing brings, the emotional ones are arguably the hardest. There’s little value in being the smartest person in the room if you can’t muster the necessary discipline and temperament to face the chaos of the market. One of the more prickly behavioural challenges we face is the inertia of our beliefs. We tend to be […]

Shares in fast-fashion jeweller Lovisa (ASX:LOV) have been on a tear so far this year, having roughly doubled since January. And not without good reason — sales are growing well and the business continues to roll out new stores at a solid clip. The question, of course, is whether it’s too late to buy. What does Lovisa do? Lovisa is […]

Are shares good value?

“It’s the mark of a charlatan to try and explain simple things in complex ways, and it’s the mark of a genius to explain complicated things in simple ways.”— Naval Ravikant I don’t think many of us would disagree with Naval’s sentiment. But if we’re honest with ourselves, most of us are still drawn to sophisticated-sounding speech. Big words, technical […]

Big technological and structural shifts tend to hide in plain sight. When they do finally draw some attention, they tend to look like exaggerated hype. And most of the time that is exactly what they are. Even when a genuine shift is underway, progress feels painfully slow. The promise is always a touch out of reach. Something shinier shows up, […]

Terry Smith is a former UK analyst and banker who, in 2010, founded Fundsmith with a philosophy that is disarmingly simple: “Buy good companies. Don’t overpay. Avoid fiddling.” It’s a straightforward but powerful approach that has allowed him to quietly outperform most professional investors. He looks for companies with high returns on capital, strong competitive advantages and robust cash generation. He […]

A friend of mine was giving me a bit of grief about Bitcoin the other day. In particular, the fact that I was “investing in something that is entirely intangible, abstract, and made up.” Moreover, its market value was entirely dependent on a shared delusion being effectively sustained. (Before you scroll past this, let me quickly add: this is not […]

This week we lost one of the greats. Only one month shy of his 100th birthday, legendary investor and polymath Charles Thomas Munger departed this mortal coil. He had a rich and varied life with pursuits spanning law, mathematics, architecture — and much more besides. He witnessed first hand incredible societal and technological change and, of course, amassed a giant […]