Steve Johnson has built a reputation for himself and the team at Forager Funds for uncovering value in dark corners of the market. But in recent years, he’s learned the need for patience in this area, as extreme opportunities are not always apparent. That’s why, when markets are functioning normally, he keeps a core portfolio of high-quality businesses that he’s happy to hold. But when markets start to get dysfunctional, like in 2020, and prices depart far from values, this capital can be recycled into some of these opportunities for outsized returns.
In this episode of The Rules of Investing podcast, we discuss how he’s balancing the portfolio to ensure performance in the good times and the bad, why Uber is misunderstood, and he discusses some Australian turnaround stories that the market hasn’t yet woken up to.
From a kosher butcher shop to one of the country’s largest family offices
Christopher Joye: the RBA got it wrong, now it will crush housing, growth and the consumer
Why this ex-central banker fears a second (and even bigger) mistake
Lazard’s Philipp Hofflin reveals how the stock market really works
Trailer: Lazard’s Philipp Hofflin reveals how the stock market really works
Steve Johnson’s hunt for tomorrow’s market movers
Trailer: Steve Johnson’s hunt for tomorrow’s market movers
Success and More Interesting Stuff is back
This Hall of Famer has uncovered a stock worthy of Warren Buffett’s portfolio
Trailer: This Hall of Famer has uncovered a stock worthy of Warren Buffett’s portfolio
Move over Big Tech, these are the new flag bearers of growth investing
Trailer: Move over Big Tech; these are the new flag bearers of growth investing
Luke Smith: This commodity will grow 10x in 10 years
The commodity set to grow 10x in 10 years | Trailer
Bob Desmond: We’re finding value everywhere
Chris Watling’s portfolio preparation guide for a 2023 global recession
Mark Landau: Why it’s time to put down the last decade’s playbook
How this Hall of Fame bear is buying the dip
Why the stock market’s bubble hasn’t really burst yet
We’re in ’Tech Wreck 2.0”, and some big names won’t make it
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