Whilst defining quality is no minor philosophical challenge, we are fortunate that the application of the concept of quality to investing is robust to various definitions, be they qualitative assessments of competitive position or earnings quality and sustainability, or alternatively quantitative measures such as returns on capital, margins and organic... Show More
At the current stage of the bull market, it can be hard to find a company that is reasonably priced, let alone being cheap whilst showing signs of accelerating revenue growth and at a positive inflection point for margins. Something I refer to as a three levered play to generate... Show More
We spend a lot of time thinking about the relationship between growth and value at Bailador. Here are some high-level numbers from two well-known companies that have about the same value. Show More
2018 was another eventful year for markets around the world, but what lies in store for the next 12 months for investors? Andrew Milligan, Head of Global Strategy, outlines Aberdeen Standard Investments’ 2019 global markets outlook. Here are five key takeaways. Show More
Many global equities managers currently hold up to 70% exposure to US equities, but Peter Wilmshurst, Portfolio Manager of Templeton Global Growth Fund Ltd (ASX:TGG), says “that just doesn’t make sense. It’s a much broader world out there.” With the US market up more than 200% since 2009, while Europe,... Show More
Research shows that founder-led companies outperform. While that might not be surprising given the recent share price performance of US tech titans such as Amazon, Alphabet, Netflix and Facebook, which are led by their founders, research shows that this phenomenon isn’t limited to the technology sector (see charts below). Show More
“In the short run the market is a voting machine but in the long run it is a weighing machine.” Show More
Commercial and residential real estate developments in the United States are probably not the first thing that comes to mind when you think about Hollywood and Hawaii. Show More
Growth vs value is a well-documented discussion in stock investing. It describes two fundamental approaches or styles to investing where in a basic sense, the growth approach seeks to invest in companies that exhibit strong growth characteristics (whether this be in the sales, earnings and/or cash flow of a company),... Show More
In the first episode of the Peters MacGregor Global Investing Podcast, Head of Research, Nathan Bell, and Senior Investment Analyst, Trevor Scott discuss recent market volatility and building a portfolio of high quality companies, such as NVR and Amazon, that will deliver value over the long-term regardless of short-term market... Show More