value investing

The lightning bolt of Afterpay might never strike again, but that shouldn't stop investors from seeking less dramatic multi-bagger businesses, says Merewether Capital...

Perception is Reality You may recall in Amazon, the Organism, I wrote about the three elements needed for motion: Intention, Energy and Autonomy. Here, the motion we...

Brad Potter, Head of Equities at Tyndall, learned some of his biggest investing lessons in the Great Sandy Desert and The Pilbara. Before embarking on a career in...

In a previous wire, Lucerne’s Anthony Murphy and Michael Houghton warned that rising inflation and a reversal of excessive valuations could take the steam out of risk...

We have a relatively sanguine outlook on inflation, as discussed in “Part 1: Inflation – Tall Tales and True Causes.” Perhaps you don’t share our view. Or perhaps like...

A traditional approach to value investing can rely on owning low-multiple stocks expecting mean reversion to generate long-term alpha. In our view, this is a flawed...

Every generation of value manager can expect to read the obituary of their investment style at some point in their career. Over the past decade or so, this has...

Value investing and contrarian investing are intrinsically related. Value investing seeks to identify good quality companies that are trading cheaply. To achieve that...

A degree in aeronautical engineering is surely the most unconventional route for a career in funds management but it's a route that has greatly assisted Nick Kirrage,...

John Maynard Keynes (the First Baron Keynes of Tilton, 1883-1946) is usually remembered as the author of The General Theory of Employment, Interest and Money (1936)...

Equity markets are currently at all-time highs. This has generated returns that, we believe, are unlikely to continue, so we need to think about where returns are...

The a2 Milk Company (a2) has always been an interesting business, especially over the past five years. From 2015 to 2020 the business delivered explosive growth....

Paul Skamvougeras has the privilege of managing Perpetual's Wholesale Concentrated Equity Fund, one of Australia's longest-running unlisted managed products. As the...

A near-perfect environment for cyclical stocks will unfold over the next year, says L1 Capital’s co-CIO Mark Landau. Alongside depressed share prices and “roaring...

Pro-value cycles have historically been long and durable. The evidence suggests we are in the early stages of what may be a powerful period of value outperformance....

The rotation into low multiple - or value - stocks has gathered pace in recent months following an acceleration in the vaccine rollout, combined with additional...

Why invest The simple answer to the fundamental question of why we invest is of course to make money. Perhaps to build personal wealth, or perhaps to build a...

Twelve months on from the COVID-19 led market correction, the rotation to value stocks has continued as further economic re opening beckons. Locally, Consumer...

Despite its strong run, the Allan Gray Australia Equity portfolio remains heavily tilted towards beaten-up cyclical companies, as their decade-long underperformance...

The monetary and fiscal stimulus poured into the global economy, in particular the US, over the last 12 months has seen our team find new opportunities for growth and...