Скачать или смотреть Hayden Nicholson (Bell Potter) Interviews Dr Pohl AM - Growth vs Quality Investments

Timestamps to the interview are:
0:00 Are we growth investor or just invest in quality businesses?
1:30 We've never changed our spots - resilient businesses expanding their economic footprint
2:10 The main surprise of this drawdown was how fast some stocks have recovered
3:00 When we are most likely to under-perform
3:20 What many short-term investors don't understand
3:50 The expected revaluation of growth companies came sooner than later
4:15 What has made this earning season so interesting
5:20 The massive decline seem to have been overdone
6:10 How we quantify risk
7:45 Why we use internal rate of return as a valuation measure
9:00 The negligible impact of interest rates rising to our portfolio
10:30 Our outperformance formats comes from the ability to pick the right companies
11:30 Dominos is example of improving operational efficiencies in a downturn in economic Cycles
12:30 What we want to see from management is in tough economic circumstances
14:00 Why results in this resorting season were better than expected
14:45 Why there is no broad theme in our portfolio
16:30 Investing cash ahead of the reporting season
17:30 Why this may be a good time for FSI and our other LICs
19:00 Why we have no exposure to materials and resources
19:45 We require the business to be cash flow positive to underpin business growth
21:20 When is growth not enough - why we exited JB Hi-Fi
22:10 While we stayed long in Lovisa
22:45 Knowing the capacity limits when investing in fund manager
23:10 Our sell discipline and separating our own biases
23:45 We are prepared to sell great businesses if there are is not high enough IRR


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DISCLAIMER
This Interview is provided for information purposes only. Neither Flagship Investment Limited nor ECP Asset Management nor Bell Potter Securities makes any representation that the assumptions presented in this interview are reasonable, reliable, accurate or complete or that they are best estimates of likely outcomes. Nothing in this interview constitutes an investment recommendation or investment advice and viewers should not invest on the basis of, or make any investment decision relying on content in this interview or any projections but rather on their own enquiries and assessments.