Episode 11: Audinate, Volpara, Dicker Data, locality Planning and listener mailbag

When people talk about capital, they tend to mean stuff: factories, patents, cash, code. Things you can count, stick in a spreadsheet, and list on a balance sheet. But that misses the point. The real magic of capital isn’t in the owning. It’s in the doing. Hernando de Soto, the Peruvian economist and author, put it brilliantly in The Mystery […]

There’s no area of the market where you’d say stock picking was ‘easy’, but some sectors tend to offer fewer challenges than others. For Luke Winchester (aka Wini), whom we spoke with last week (see below), the preferred hunting ground is in the B2B industrials space. One of the key reasons being that these types of companies tend to offer better […]

‘Blue-chip’ is a term often applied to the more established, higher-quality businesses; a name that originates from the poker table where the highest value chips were traditionally blue in colour. These stalwarts are typically considered lower risk and are the stocks sensible investors supposedly focus on. Perhaps. But for many of these so-called blue-chips the shareholder experience has been woeful. Consider these examples from the ASX20, […]

As investors, we tend to spend a lot of time thinking about value. Or, at least, we should. The simple reality is that even if we buy shares in the world’s greatest business, we can still lose our shirt if we pay a stupidly high price. But what makes a price stupid? How can we possibly know what is reasonable […]

Every business, no matter how wonderful, has a few hairs on it. And if you don’t think that’s true, it’s only because you haven’t looked hard enough. But some hairs are, well, hairier than others.  It’s not ideal to see the CEO of one of your favourite companies sell shares right before an opportunistic capital raise, but that may be more palatable […]

What are the pros and cons for shareholders?

Should you buy shares?

Berkshire Hathaway (NYSE:BRK) recently held its 2024 shareholder meeting, or if you prefer, Woodstock for capitalists.  If you’ve ever read much Buffett there wasn’t really any new insights in terms of how he thinks about investing. That’s not a bad thing; it’s Berkshire’s consistency of process that’s helped it deliver the long-term returns it has (about 19.8%pa, on average, over 58 years). […]