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ROI: Making money from market falls

This week’s guest on The Rules of Investing (ROI) is Ben McGarry, founder and Portfolio Manager at Totus Capital, and an expert in short selling. Ben started his career at an accountant at PWC, allowing him to gain skills that would be invaluable later as he searched for frauds, fads, and failures on the short-side of his fund’s portfolio. Tune in below to hear about the accounting tricks companies use to mask their true performance, his public short on a household name, and why it took a...


ROI: Investing through uncertainty

Guest: Michael Thawley, AO,Vice Chairman of Capital Group International. Whether you're investing in equities, debt, or alternatives, uncertainty is an inescapable part of the game. But Michael Thawley, AO, Vice Chairman of Capital Group International, says this current period of political uncertainty is unique; "I've never been more unsure about what the future holds than I am now." And he should know, having spent 46 years in foreign affairs, diplomacy, and politics. His appointments have...


The Rules of Investing: What makes a good business?

Guest: Kevin Beck, Paradice Investment Management After a chance meeting with legendary stock picker, David Paradice, today’s guest joined Paradice IM to head up their successful Global Small Mid Cap Fund in 2010. Shunning the traditional labels of ‘value’ and ‘growth’, their approach follows the ‘Growth at a Reasonable Price’ philosophy that draws from both schools of thought. “If you’re paying 30 times earnings, you’re effectively discounting a 3% IRR (internal rate of return). So, you...


The Rules of Investing: The virus that affects all assets

When a young Charlie Jamieson arrived at work in London on September 11th, 2001, little did he know how much that day would affect his views on markets. At the time, he was trading US Dollar bonds from Merrill Lynch’s London office, having just left the New York office three weeks earlier. It was a harrowing time, but it wouldn’t be the last time that he faced a major catastrophe as an investor. Years later, he found himself managing Euro portfolios throughout the GFC and the Euro Crisis....


The Rules of Investing: A bright future for growth investing

Guest: Nick Griffin, Chief Investment Officer at Munro Partners. For decades, traditional wisdom has held that value investing is the only way to outperform, and with good reason. Until the GFC, value had outperformed growth in all but a few brief periods, and those periods immediately preceded a major bear market. But for nearly a decade now, growth has produced superior returns. While some may argue that zero interest rates and quantitative easing are to blame/thank (depending on your...


The Rules of Investing: Low risk, high return investing

This week's guest is Callum Burns, Portfolio Manager of the highly successful SGH ICE fund. Higher returns require higher risk and volatility… Or at least, that’s what finance theory would tell us. Is it possible to ‘have your cake and eat it too’? Callum Burns, Portfolio Manager of the SG Hiscock ICE Fund clearly thinks so, and he’s got the track record to back it up. His fund has produced 11.88% p.a. over the last 10 years, and he’s achieved this with significantly lower volatility than...


The Rules of Investing: Rick Rule’s secrets of success

This week’s guest is Rick Rule. Rick is the President and CEO of natural resources specialists, Sprott US Holdings. According to Mining Journal, Rick is one of the top five most influential people in mining globally; an honour that he shares with President Xi Jinping and Donald Trump.


The Rules of Investing: The Age of Longevity

This week's guest is Jim Mellon, billionaire investor, speaker, and co-author of Juvenescence: Investing in the Age of Longevity. We discuss: * His 2005 book that predicted the oncoming storm of the GFC * The coming bear market in tech stocks and why he’s short Facebook * The new developments in the treatment of cancer, heart disease, lung disease, and diabetes that could significantly improve survivability * The changes in lifestyle that are already extending our lifespans Medications that...


The Rules of Investing: Peter Cooper’s next big idea

Peter Cooper is the founder and Chief Investment Officer of Cooper Investors, one of Australia’s leading boutique investment firms. His success is probably best conveyed by the incredible performance of the CI Brunswick fund, which he manages personally. This fund has outperformed the ASX200 Accumulation Index by a cumulative 537%, or 8.3% p.a. since inception in 2004. In this week’s podcast, we discuss: • Two exciting ‘clusters’ of investment opportunities that have him excited today,...


The Rules of Investing: Investing in a world of rising rates

This week's guest is Giselle Roux, Chief Investment Officer at Escala Partners. We discuss where we are in the interest rate cycle, how to invest as rates rise, and whether the Fed can manage a rate-hike cycle without causing a recession.


The Rules of Investing: The Dividend Dilemma

Dr Don Hamson from Plato Investment Management discusses some common mistakes that investors make, how to avoid a dividend trap, and heard his views on the suggested changes to dividends.


The Rules of Investing: Finding opportunities in unusual places

We all know that big caps are growth-constrained and mid and small caps are where you find the real opportunities in the market. For example, a2 Milk has seen its share price jump more than 20 times in three years to give it an $8 billion market cap, putting it into among the 50 biggest companies on the ASX. Awareness in the market that global stocks present a better opportunity is now reaching tipping point, so in this week’s podcast we chat with global mid-cap specialist, Arik Star who's...


The Rules of Investing: How to make money in small caps

After a rough start to the year in 2017, smaller companies had a stellar run in the back half that once again shone light on the smaller end of the market. With nearly 20 years’ experience running a small cap mandate, Rob Frost from OC Funds has seen this kind of thing before. In our first podcast for the new season, Livewire Editor, Patrick Poke, sat down with Rob to learn about small cap investing. Is it better to pick the right themes, or the right stocks? What's more important, growth,...


The Rules of Investing - Global tech giants

Disruption is everywhere these days. Whether it’s Amazon and Kogan disrupting traditional retail, Facebook and Google disrupting print and television advertising, or Netflix disrupting pay TV, it’s impossible to avoid. Incumbents face the dilemma of disruption: adapt to new ways and risk hurting their existing business, or stick to their existing model and risk becoming redundant in an ever-changing world. At the forefront of digital disruption are the global tech giants; Amazon, Baidu,...


The Rules of Investing: A housing correction, or a crash?

In the first podcast for 2018, Livewire Editor, Patrick Poke, sits down with Dr Shane Oliver, Head of Investment Strategy and Chief Economist at AMP Capital. The topic at hand is Australia: the share market, the economy, wages, and of course, house prices. They discuss UBS's report late last year that "Australia's 55-year housing boom has come to an end." Is this hyperbole, or is there a nugget of truth? Oliver says that while a crash is oversold, he expects to see a fall of 5-10% in capital...


The Rules of Investing: The VC's perspective

In Livewire's final podcast for 2017, Livewire's Co-Founder and Managing Director, Tom McKay, sits down with Niki Scevak, Partner and Co-founder of Blackbird Ventures, one of Australia's most successful VC firms. With a keen interest in public markets and the teachings of Munger and Buffett, Niki provides a unique perspective on VC investing. He was also a university classmate of Australian billionaire and Atlassian Co-Founder, Mike Cannon-Brookes. In this fascinating podcast, they discuss...


Bitcoin: The best bull market in finance

A 1640% gain in a calendar year is not something you see very often, but that’s what Bitcoin holders have experienced so far in 2017. Jordan Eliseo, Chief Economist at ABC Bullion, called it “the best bull market in finance” when we sat down recently to record the latest episode of Livewire’s Rules of Investing. But is Bitcoin really the future of money, as the bulls would have you believe? To achieve these lofty goals, it will need to displace the USD, Euro, Renminbi, and gold. So, can...


The Rules of Investing: Kidman, Walsh, and Wilson

In the third episode of Livewire’s new podcast, we break from the traditional podcast format and sit down with three different guests at this week’s Future Generation Investment Forum. First, Matthew Kidman from Centennial Funds (and host of Buy Hold Sell) discusses some current risks in the market, two areas he’s avoiding, and the stock he’d own if the market closed for five years. Next, Geoff Wilson from Wilson Asset Management explains how they go about picking fund managers that are...


The Rules of Investing: Why founders make the best investments

In this week’s Rules of Investing, I sit down with Craig McDonald, co-founder and CEO of Global Founders Funds Management. After successful careers at Goldman Sachs, Craig and his co-founder were inspired to start GFFM when they came across research suggesting that founder-run businesses outperformed the broader market. This seems intuitive, with firms like Amazon, Facebook, and Google being among the strongest performers in the world in recent years. Closer to home, Seek, Harvey Norman,...


The Rules of Investing: Episode 1 - Valuation with Roger Montgomery

In the first episode of Livewire's Rules of Investing, we talk to Roger Montgomery, Chief Investment Officer of Montgomery Investment Management and author of Value.Able. We take a deep dive into the topic of valuation, and hear which ASX stock he'd own if the market closed for 5 years. Hosted by Patrick Poke.