When volatility strikes, investors invariably become more reflexive and less disciplined. But investing with reckless abandon is almost certainly going to lead to bad outcomes.
Experienced investors stick to the game plan - a game plan borne of experience and a process that's been tried and tested through the full business cycle.
On today’s episode of The Rules of Investing, David Thornton sits down with Matt Williams from Airlie Funds Management.
Matt cut his teeth in 1993 when he joined Perpetual Investments as an equities dealer. That was followed by 17 years at Perpetual, working alongside heavy hitters including Anton Tagliaferro, Peter Morgan, and John Sevior. There he held the role of head of equities from 2011 to 2015. He joined Airlie in 2016, with a remit that includes Australian share strategies for institutional clients and the Airlie Australian Share Fund for retail clients.
This year, Matt was recognised as one of the best in the business and inducted into the Hall of Fame, joining a small and distinguished list of Australia’s best fundies (including the three Perpetual alumni mentioned above).
Matt explains why the Aussie market has fared better than its global peers, where valuations are and where they're going, and the one Aussie company Matt reckons is made for Berkshire Hathaway's portfolio.
Note: this episode was recorded on Thursday December 13, 2022.
Timestamps
1:40 - Leaning from mentors, past and present
3:15 - It's not only what you own, it's what you avoid
5:00 - Why the Aussie market has outperformed global peers
8:00 - Cash is king
14:00 - Stress testing companies
18:30 - Defensive anchors
20:00 - Getting in early with Mineral Resources (ASX: MIN)
22:00 - Upgrade the quality when the market falls
23:00 - Buying blips
28:04 - A business made for Buffett
700+ meetings each year: How WAM Global uncovers under-the-radar stocks
Chris Stott’s 5 high conviction stock ideas for the new bull market
Christopher Joye: No margin for error for risk junkies craving rate cuts
Why Ben Clark is taking profits on growth stocks (and where he's putting that money to work)
Trailer: Ben Clark, TMS Capital
The next 10 years in ETF growth could be dominated by this asset class
Warryn Robertson’s guide to picking the best infrastructure stocks on the ASX and abroad
The policy overhaul Shane Oliver would make to secure Australia's fortunes
Where Soul Patts is investing for long term growth and dividends
How Hyperion unearths rare but exceptional growth companies (plus two that pass their filters)
How to invest $1 million in 2024
The lead indicator for Dion Hershan’s best trades (and two high quality stocks for the ”slow grind” ahead)
Ben Griffiths’ small cap playbook as animal spirits awaken
2 killer growth stocks (and why culture is key to successful small caps)
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Invest in what you know, avoid what you don’t: Lessons from a Hall of Fame fund manager
Emma Fisher: Why it pays to be bullish (and the most outstanding idea on the ASX today)
Matthew Kidman: Get ready to run with the bulls
Hedge fund managers never name their shorts. This one does...
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