When assessing the current landscape of the ASX, there has been a significant shift of investor dollars towards a highly select group of companies. Much has been made in the headlines about the WAAAX stocks (Wisetech, Altium, Afterpay, Appen and Xero). The share price performance of these companies has been... Show More
A recent podcast with Robert Millner, Chairman of Washington H Soul Pattison & Company Ltd (ASX:SOL) provided valuable insights into the mindset of a long-term investment conglomerate. What started as a chemist on Pitt St in the 1870s has turned into what some would argue is the closest thing Australia... Show More
In this article we answer 8 questions about Service Stream Ltd (ASX: SSM). Show More
A year ago we wrote an article about ‘5 CEOs Who Tick All the Boxes’ based on the ASX listed CEOs who we thought showed similarities to Tom Murphy. For those unfamiliar, Tom Murphy was the once in a lifetime CEO of US media conglomerate Capital Cities who started out... Show More
A chapter by chapter summary of The Deals of Warren Buffett Volume 1, The First $100m by Glen Arnold. The book describes the key investment lessons learnt by Warren Buffett in making his first $100m. In our view, the book covers most of the lessons an investor would ever need,... Show More
During our recent trip to Omaha, we met with three Berkshire CEOs and a Berkshire board member. These meetings provided great insight into how Berkshire Hathaway has become one of the most successful companies in the world. Whilst listening to Warren Buffett and Charlie Munger for six hours on the... Show More
The quality of management is a major factor in assessing any investment opportunity. We adopt the rule that no matter how good a company may appear on paper, if we are not comfortable with the CEO, we will not invest. Show More
Investors with a predisposition to high conviction value investing often need value to be combined with an element of growth. Let’s call it ‘growth-value’. Our approach is not to look for ‘cigar butts’ but we do seek turnaround or under-researched ideas where the profits and growth are likely to continue. Show More
It is fast approaching the time of the year when annual company reports will be coming in thick and fast. With so much information on hand, one is quickly drawn to the financial reports which include the income, balance sheet and cash flow statements. This reporting season, we encourage you... Show More
Thanks for your feedback Michael, NAOS invest in industrial businesses so we tend to focus on CEO's in this space.
Thanks Harry. Yes ethics is certainly something to consider when assessing the quality of management. Internally we look at this through points 2 and 5, alignment with shareholders and non-financial motivation.