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
The biggest question facing investors today
The 15 stock portfolio
Finding value in dark corners of the market
Season's greetings from Livewire Markets
Buy Australian for the next recovery phase
The biggest trends to watch in the next 5 years
3 early warning signs it’s time to change your view
Sell-offs are a buying opportunity. Don’t get off the train
What the ‘smart money’ is saying about Australia's future
Did Buffett really change his mind on gold?
Tapping into research from the world’s best investors
How Ophir spot offshore growers (before they get big)
A key question most investors ignore, do you?
Chris Stott launched a new boutique. Then COVID hit.
Don’t fight the Fed, buy commodities instead
The $200 billion opportunity to power Australia's future
The unspoken rules of Wall Street’s best hedge funds
Buy growth, but don't ignore the price
The biggest experiment in markets: How does it end?
Navigating the COVID crisis
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