Buy Hold Sell
Buy Hold Sell

There have been some astounding one-day moves this reporting season among the market darling midcaps, including Altium jumping 20%, Webjet soaring 30%, Blackmores plummeting 25%, and Bingo getting kneecapped by 49%. In this week's episode of Buy Hold Sell, we look past these wild moves to seek relative stability and resilience... Show More

Equities
Ben Rundle

Given the substantial fall in private vehicle sales seen throughout 2018, in our view, the risk of owning Smartgroup (SIQ.ASX) into the result was greater than it has been for past periods given they are a provider of salary packaging and novated car leases. However, the performance of a business... Show More

Buy Hold Sell
Buy Hold Sell

It’s that time of year! After months of macro dominated action, ASX-listed companies are reporting their earnings and showing investors what’s really going on. Expectations are the name of the game and this February it’s not just about the result but also the guidance and outlook commentary. Research has shown... Show More

Ben Rundle

In this podcast, Andrew Pridham, CEO of Moelis Australia tells us: "The one thing that all good businesses have is good people, a really clear vision of what they want to achieve and they are not worried by short-term volatility. They have a plan and they stick to it." Show More

Ben Rundle

In the current economic environment many companies are finding it difficult to grow earnings organically so they are turning to acquisitions more frequently. Adding further incentive for management teams to acquire businesses is the disparity between the valuation of an ASX-listed public company and a private company. This can create... Show More

Ben Rundle

'I Did it My Way' is a podcast series by NAOS Asset Management in which we interview business leaders who have had great success in their field. We find out the key ingredients to running a good business, how to handle failure and the lessons they have learned along the... Show More

Buy Hold Sell
Buy Hold Sell

The papers are having a field day with stocks making headlines for all sorts of reasons. The high-flying Corporate Travel Management has been in the sights of short sellers, BHP is showering investors with cash, while AMP... well the headlines have gone from bad to worse. However, sentiment can often disguise... Show More

Ben Rundle

In September of last year, I nominated a stock on Livewire where I felt the short sellers had it wrong. The stock I chose was Flight Centre Travel Group (ASX: FLT), as I felt industry dynamics were improving, the company was undergoing a cost out program, and FLT also had... Show More

Ben Rundle

Environmental, Social and Governance (ESG) investing has been in a structural growth phase for some years now. A report by the Responsible Investment Association Australasia (RIAA) notes that 81% of the largest super funds have now embedded a formal commitment to responsible investment, up from 70% in 2016. Additional research... Show More

Ben Rundle

NAOS Asset Management attended the 2018 Berkshire Hathaway Annual Shareholders Meeting on Saturday, May 5 in Omaha, Nebraska. During the 6 hour meeting, Warren Buffett and Charlie Munger answered questions from journalists, analysts and shareholders, of which 40,000 were in attendance. Five of most important themes from the meeting in... Show More

Buy Hold Sell
Buy Hold Sell

The recent 5% plunge in the ASX200 led to some great value opportunities for nimble investors. This was particularly so in small caps, which fell even further. In this exclusive video, Ben Rundle from NAOS and Shane Fitzgerald from Monash Investors Limited join Jeremy Hook from TMS Capital to discuss... Show More

Ben Rundle

Often when analysts and market commentators talk about valuation of certain businesses, the method used is the price to earnings or P/E ratio. A price earnings ratio is calculated by dividing the current share price by the earnings per share (EPS), For example, a company trading at $1.00 per share... Show More

Ben Rundle

We recently spent some time travelling through the US meeting with companies and like-minded fund managers to expand our universe of ideas. We believe that during our investment process there is no substitute to meeting with companies face to face in order to further our due diligence beyond the financial... Show More

Ben Rundle

We attended the 51st annual Berkshire Hathaway AGM in Omaha, Nebraska. In customary fashion, Warren and Charlie answered questions from shareholders for 6 hours on topics ranging from renewable energy to taxes on sugar. Below we highlight three key takeaways from the meeting; Show More