A great piece from fund manager Tony Hansen, via Rask Finance:

United Overseas Australia Limited (ASX: UOS), our largest position rose nearly 7% in September. We would like to think our explanation of the investment merits of the business since inception in last month’s letterwas responsible, but we know it was not.

In fact a young analyst at InvestSmart wrote an article (you will need to sign-up for their free-trial to read the piece) recommending their readers buy the stock up to a limit price of 70c. The readership duly complied and the stock closed the month at 69c.

I have sung the praises of CS and Jim Kong repeatedly over the more than 7 years I’ve run the fund and for the more than 10 years I’ve owned UOS shares. I will give a small example of why they are the best in the business, but it is an important lesson in why I think the stock is so deeply undervalued.

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