One of the things that frustrates me most is fund managers who take the “other peoples money” approach. My fundamental belief is that if you wouldn’t do something with your own money, why would you do it with someone else’s money? When we look to hire new analysts, we spend... Show More
Over the past few weeks we have written about the profit and loss statement and the balance sheet, and how understanding both is critical to working out how a business operates. But as the saying goes, cash is king, and the cash flow statement is really at the core of... Show More
Do investors favour the next big thing, rather than focusing on long term success? Show More
Many investors talk about quality businesses and many, like us, seek to buy these businesses for our clients. But what exactly is quality, what are the signs to look for, and why is it so important? Show More
Don't invest in companies with directors who don't value their responsibility to shareholders. Watch to see how Michael weeds out bad directors. Show More
This week Michael is talking about the Margin of Safety, following a very heated back-half of calendar 2016 in the small and mid-cap segments of the market. Show More
Does being a CEO who has a stake in the business affect decision-making? Watch the video to hear Michael talking about owner-operators making strategic business decisions for long-term growth. Show More
We know Australia is the lucky country – whether that be the weather, the lifestyle, or the 25 plus year streak without a recession. We are also the growing country; Australia’s growth rate of 1.5% outpaces many of our peers. But where is the growth coming from and what is... Show More
In this video I am talking about investing in unlisted equities, and how a business plan is just a concept until the business generates a cash profit. Show More
Find out why Portfolio Manger Michael doesn't like Telstra, and why it's struggling to keep up the pace in this technocentric world. Show More