In sports, players deemed to be "all rounders" don't usually dominate headlines and highlight reels. Yet, over the course of their careers, their flexibility and consistent performance can prove invaluable.
The same can be said of investing. You have growth managers, value managers and everything in between. When market conditions are favourable, they're on. But when markets favour another style, they take a back seat. Sometimes for a decade or longer.
Today’s guest is Blake Henricks, portfolio manager at Firetrail Investments, a high conviction manager of Aussie and global equities.
Firetrail live by the motto “every company has a price”. But don’t let that fool you into thinking they're are a value-only only manager. Theirs is a style agnostic approach, which gives them the flexibility to play at every point in the cycle.
In today’s episode, Blake discusses Firetrail's approach to investing, the health of Aussie balance sheets, what we can expect from earnings season, what leads the market to misprice a stock (and some examples), and the implications for the resources sector of being in a buy versus build phase.
Note: This interview was recorded on June 27, 2023.
Timestamps0:00 - START
1:20 - Today's market
2:12 - Conflicting data points
3:20 - Earnings season will be tough, but not for every company
5:10 - Beachside mansions vs outback shacks
10:30 - Finding market misreads
12:15 - The benefits of being style-agnostic
16:30 - Jack of all trades, master of none?
18:30 - Firetrail's portfolio
22:30 - Is energy still the play?
23:40 - Buy vs build
30:00 - Don't board the AI hype train
33:00 - Clipped wings and big gains
36:00 - A franchise built for success
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...
Bob Desmond names his ”forever” stock
Trailer: Bob Desmond, Claremont Global
3 reasons why the US economy has achieved a miraculous ”soft landing”
Blackwattle’s Ray David is raising red flags about market darling CSL
Trailer: Blackwattle’s Ray David is raising red flags about market darling CSL
Livewire Live is back in 2023!
What do counting cars and delivering an 18% pa return for investors have in common?
Regal’s ultimate guide to microcap investing in 2023
Trailer: The ultimate guide to microcap investing in 2023
The only ASX stock with a return on equity of over 50%
Oscar Oberg: Small caps are primed to rally, and it doesn’t happen without these stocks
Trailer: Small caps are primed to rally, and it doesn’t happen without these stocks
Paul Taylor’s guide to long term compounding on the ASX (plus a 3-stock portfolio for the bottom drawer)
Trailer: Fidelity’s Paul Taylor reveals his secret sauce for finding long-term compounders
Trailer: This energy company hasn’t seen conditions this good in 25 years
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast