Equities

Over the past year, we have opportunistically purchased some high quality, growing businesses at attractive valuations. One such example is Melco Resorts and Entertainment (Melco) (NASDAQ:MLCO), a stock we bought back into during the second half of 2018. It was a time when all stocks exposed to China were selling... Show More

Podcasts
Patrick Poke

Value investors, I suspect, are born that way. It takes a particular type of person to be willing to stand out from the crowd, focus on the long term, and constantly be hunting for bargains. This week's guest on the podcast is precisely one of those people; Garry Laurence, Portfolio... Show More

Equities

When we think about the economic progress of the human race over the past 50 years, there is probably no more important development than our ever-increasing ability to process data at ever-increasing speeds based on improvement in integrated circuits. Simply put the modern world as we know it would not... Show More

Remaining true to our core value management style has seen the fund invest in a variety of well run, high quality and attractively priced companies. We keep an eye on all quality stocks, even those we’ve previously divested; after all, you never know when a company’s valuation will fail to... Show More

Whether you prefer a thick crust or thin, or you’re a purist when it comes to toppings – does pineapple have a place? – pizza holds universal appeal. Dough, cheese and an almost limitless variety of toppings caters for most, and its versatility ensures a tasty meal whether eaten on-site... Show More

In the past quarter, we have seen a significant divergence between the performance of the US stock market compared to emerging markets and Europe. Donald Trump’s hard stance on tariffs and his trade wars have driven fear into emerging markets, especially China. Weakening manufacturing numbers in Europe, a populist five... Show More

Investors in self-managed super funds (SMSFs) don’t seem to ascribe to traditional approaches of modern portfolio theory. According to its architect, Harry Markowitz, investors can design an ‘optimal’ portfolio to maximise returns by taking on risk – and risk can be managed through diversification across asset classes. Show More

The year ahead might be more volatile than the last, as the world navigates through higher bond yields and rising inflation, but we think a good equity portfolio will outperform most other asset classes. Here I share some thoughts on specific companies, and the implications of a trade war, following... Show More

Expert Insights

Investing in global stocks requires a global perspective, says Garry Laurence, Portfolio Manager at Perpetual. That means getting your feet on the ground and doing real research. In the video below, he shares a recent example from the Perpetual portfolio, and explains how they built conviction in their view. “It’s critical... Show More

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