management

Equifax – Why incentives are so important

Peters MacGregor Capital Management

In a famous speech on the psychology of human misjudgement, Charlie Munger, Vice-Chairman of Berkshire Hathaway, said ‘I think I’ve been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I’ve underestimated it. And never a year passes... Show More

How to read between the lines of company guidance

Monash Investors Pty Limited

Reading between the lines of company guidance can reveal a great deal, explains Simon Shields, Principal at Monash Investors. “Ardent Leisure’s Main Event business in the United States provides family entertainment centres with bowling, rock climbing, etc. Ardent bought this business when there were only five centres in Texas and... Show More

Three factors that influence company performance

Livewire Exclusive

Assessing management is one of the more difficult tasks investors face. In recent years, research has identified three quantifiable factors that influence company performance: CEO remuneration, gender equality at a board/executive level, and family/founder ownership. Global index provider MSCI recently released a report stating that “companies with lower total summary... Show More

How change can create opportunity

Livewire Exclusive

A life-cycle change company is one undergoing a positive, transformational change in their business model. Brandon Geisler, Portfolio Manager at Marsico Capital Management, says that they like to look for companies that have had a change of management, or a significant change in the nature of their operating business. When... Show More

Idiot proof companies

Hugh Dive

Investors are constantly forced to assess the sustainability of company business models when looking at adding new stocks to their portfolios or critically evaluating the companies that they currently own. Indeed, an institutional investor may be exposed to the management teams from several hundred companies in any given year. Amongst... Show More