Time to check your 3PTL alerts; spare a thought for poor Andrew Forrest; NCK’s results; Ophir fund performance; Portfolio updates; Reversal of fortune for BPT, back on the buy list; Some old friends return to the buy list - SUL, BFG and WHC; SGM is a scrap metal recycler tied to the iron ore price; TK mistakenly bought KAR and VEA; he also bought NWS but probably shouldn’t have; Pulled Pork is ABA; PTB enters into scheme implementation deed; JHG price/op cashflow; the outlook for REITs; banks and 'Price to Op cashflow ratio’; TK’s thoughts on a 2nd sell line; has Tony found he has had any better or worse luck on stocks he's repurchased after making a loss; sell line for EHL; who is our Qaverick of the Week?
In this episode, Tony and Cam discuss the performance of stocks in the US dummy portfolio, working with F Scores and Z Scores, with a deep dive on ENVA’s 39% rise and the risks of investing in some US-listed stocks like Chinese online tech company, STG. They cover recent events around YAL, ANZ, BXB, ING, LFS, AX1 and BOQ and a regression test on “Recovering” stocks. Listener questions explore charting QAV scores over time and the potential buy of AFI. In After Hours, they discuss Tony’s horse racing adventures, books, films, and the future impact of AI on industries and investing, wrapping up with Cameron’s Tommy Hilfiger fashion shoot.
In this episode of QAV, Elio D'Amato from Stockopedia interviews Tony Kynaston. The discussion covers Tony's investing principles, his journey from corporate management to investing, Tony's philosophy of having a disciplined investment system, and key strategies he employs in his Quality at Value (QAV) investing approach. They touch on the importance of cash flow over earnings, trend lines for timing buys and sells, and the use of a checklist for evaluating stocks. The webinar also highlights how Tony manages his portfolio and some of his stock picks like Boom Logistics, Macmillan Shakespeare, and AGL. There’s also a dive into the dynamics of market sentiment, psychology of investing, and how to maintain discipline amidst macroeconomic noise.
This week, Tony and Cam recap Tony’s Stockopedia webinar, delve into the unpredictability of stock forecasting, and share quotes from ‘What Works on Wall Street’, David Waldron’s new book, and Dean Williams. They interview QAV listener Conrad on his modifications of QAV strategies and discuss retail sector performances, including Myer, JB HiFi, and QBE. Cam uses ChatGPT to try to correlate Stock Doctor and Stockopedia financial health metrics, and they discuss China’s economic deflation. In After Hours, Tony shares updates on his horse racing ventures, Cameron discusses his weight loss progress, and has a film recommendation, ‘Repulsion’ by Roman Polanski, and discloses his new career as a fashion model for Tommy Hilfiger.
In this episode, Tony and Cam break down recent market volatility impacting ASX and global indices, discuss the ‘SAHM rule’ for predicting recessions, and analyze major stock movements, including the MAG 7. They dive into Warren Buffett’s strategic moves with Berkshire Hathaway and Apple shares. Tony’s ‘Pulled Pork’ segment features McPherson’s Limited (ASX: MCP). Listener Jordan shares how QAV helps him keep a calm approach to market downturns. They discuss the updated U.S. checklist, CCP’s report from last week, the fact we’re now in reporting season, a “What Works On Wall Street” quote and why Fortescue (FMG) needs new friends. After-hours conversations include discussions about Alfred Bester’s classic SF novel ‘The Stars My Destination,’ music my Amyl and the Sniffers, the latest Deadpool movie, Elon Musk’s Neuralink, the complexity of robotics, and Tesla’s EV strategies.
Tony and Cam break down the sharp drop in FND stock and the impact of new shareholders, review Karoon market updates, and explore an activist investor’s push for a new dividend strategy.
In this episode of the QAV podcast, we look at recent news involving SGI, ATP, FGM, CVL, AX1 and a deep dive into ABB's recent share price drop and business fundamentals. We discuss listener Conrad's successful modification of the QAV investment system, which led to a 31.4% return in the last year and review some advice from O'Shaughnessy's 'What Works on Wall Street' regarding consistency in investing. The after-hours segment includes discussions on examples of outstanding customer service, the benefits of rural call centers, and U.S. politics. We also chat about Tony's recent golf win, film reviews of 'Stingray' (1976) and 'The Assassination Bureau' (1969), and recommend the music of The Jim Carroll Band and Grace Cummins and the Doctor Who site, stitchesintime.
In this episode of the QAV podcast, hosts Tony Kynaston and Cameron Reilly are discussing a record-high in the All Ordinaries index spurred by the 'Trump bump', Aussie Broadband's sudden dive (ABB), portfolio results, more FY survey results, MLX's bump, the Shipping Crisis, thoughts about integrating "Buyback Yield" into the checklist, and Tony breaks down the history and market stance of Elders Limited (ELD) in a detailed 'pulled pork' segment. They also explore the Apple Vision Pro's new features and its future alongside immersive tech like Oculus Rift, then shift to the political scene with discussions on Trump's influence on global conflicts. The conversations touch on AI, Elon Musk's ventures like Neuralink and SpaceX, horse racing updates, book recommendations, and reviews of 'Better Call Saul' and Tom Cruise films.
In this episode of the QAV podcast, Tony Kynaston and Cameron Reilly discuss the necessary improvements and changes to their US portfolio, including updates to their buying checklist and new financial metrics. Tony does a pulled pork on the U.S. company Willis Lease Finance Corporation (WLFC). In Australian news, they delve into market news affecting coal and iron ore prices and cover some more member survey results ad TK updates us on his Rich List Portfolio . IN after hours, they talk about Tasmania's MONA art gallery and reflect on AI's future, drawing from insights by Elon Musk and Bill Gates, indoor golf simulators compared to real-life golfing, and their upcoming demo of the Apple Vision Pro, speculating on technology's impact on real-life experiences.
In this episode of the QAV podcast, hosts Tony Kynaston and Cameron Reilly cover a range of topics at the start of the new financial year. They begin the resilience in financial and property markets amid global interest rate hikes, and how the gig economy affects unemployment rates. They also touch on the history and impact of quantitative easing, review their own and member financial year results, and analyze market news related to companies like Myer and Fortescue Metals Group. Tony provides an in-depth look at Auric Mining Ltd (AWJ) in his 'pulled pork' segment. Tony answers questions about tax rates and performance-based share issuance, then in After Hours they get into movie reviews of 'Furiosa' and 'Marie Antoinette.' They also explore AI's potential future impacts on job markets and technological advancements, referencing Ray Kurzweil's predictions.
In episode 726 of QAV, Tony and Cameron pay tribute to the late Donald Sutherland, then shift to discussing fluctuations in the crude oil market, a deep dive into Ben Graham's investment principles and their relevance today, alongside a detailed analysis of TabCorp Holdings, the market's over-reaction to HLI news, and FND breaking the curse of the pulled pork.
In this episode of QAV, Cameron and Tony dive into recent market activities, the RBA’s decisions, the Lindy Effect, substantial shareholder announcements, and GrainCorp’s prospects, along with a detailed analysis of Embark Early Education (EVO). Member questions about living off a share portfolio during down years and the differences between value and quality investing are addressed. Additionally, Tony clarifies the calculation of shares on issue for Rio Tinto, emphasizing global figures for earnings per share. In after hours, the duo also covers Mario Puzo's 'The Godfather', Alphonse Mucha, and the Archibald Prize, and discuss the potential and risks of AI, drawing references from science fiction. They wrap up with thoughts on films and books, including 'Klara and the Sun'.
In this episode of QAV, Cam and Tony explore the U.S. market for the first time, with a brief introduction of Tony and his QAV system of value investing, a discussion of value v growth investing, a discussion of the performance of our U.S. dummy portfolio, a deep dive or 'Pulled Pork' segment on Reinsurance Group of America (RGA), and a review of the FY survey results we've received so far from club members.
Join Tony and Cameron in episode 723 of QAV as they discuss a variety of topics ranging from American barbecue joints to the Hunter Biden lawsuit. Tony talks about his relaxing golf trip down the East Coast and the challenges of selling a house. Then we discuss Vulcan level emotional detachment in investing, recent market movements, and specific stocks like CUE, MME, and PRN. There's also an exploration of dividends and portfolio performance. In after hours, we're talking about 'The Blues Brothers' Sidney George Reilly (Ace Of Spies), Nicholas Cage in "Dream Scenario" and our plans for our first U.S. episode.
In this episode, Tony provides insights into recent retail sales figures, the market's reaction, and the concept of 'confession season' in the corporate world. Then he conducts a detailed 'Pulled Pork' segment on Stealth Group (SGI), a tool retailer, evaluating its financial health, market performance, and prospects. In the club edition, we also discuss the reasons behind varying member performances (and our own performance), and discuss the importance of sticking to a disciplined investment model.
In 721 we discuss the pain of FND, why Aussie investors keep investing in unprofitable companies, and TK does a Pulled Pork on SRV. In the club edition only: the myth of the ‘new normal’, why LIC AFIC is selling below its NTA, how Aussie investors can benefit from the AI boom, what we should do about copper prices being up, how to interpret the number of buys going down, how often is TK is making purchases based on factors outside the numbers, and how to interpret the resignation of the PRN CFO.
The Budget cometh, Lessons in Kindness from Buffett, and a Deep Dive into Boom Logistics. Also in the Club edition: Reflections on Jim Simons and Quant Investing, Navigating Market Fluctuations: FND and FPR Updates, Exploring VYS's Surge, Elon Musk's Suggestion to Warren Buffett, Marcus has a question about applying quality score to existing holdings, Jim asks about Life 360, Stock Doctor Data Integrity Issues, Nick asks about Josephine rules, Trent asks about AGL and LNG
This week we're talking about the Berkshire Annual Meeting, China's gold purchases, a pulled pork on EHL (Emeco Holdings), SXE profit guidance update, Regression testing Price < Cons, Activists vs Karoon Energy (KAR), Austal (ASB) backers want Hanwha Group in the race, TRS is a 3PTL Sell, Apollo sinks THL, Morningstar valuations, banks doing large buybacks.
This week we're talking to Matt Walker about his regression testing system, Stock Doctor's continuing data quality issues, NCK's UK expansion, HMC Capital takes aim at GNC, fudging DUR and LAU, and get some insider information about Austal Ships.
This episode includes a deep dive analysis of Bank of QLD (BOQ), Joyce Corporation Ltd (JYC) and Atlas Pearls Ltd (ATP), Howard Marks on Chess and Risk, Dummy Portfolio and dividends, and a regression testing update on QAV scores.