Look Down, Not Up
Mainfreight AGM — Ready Fire Aim
Notes from the 2023 Mainfreight AGM in Auckland
Buybacks
Not all buybacks are created equal. But the good ones do incredible things.
Avoiding hubris
excerpt from Lugarno Fund Letter (June 2022)
Price matters
excerpt from Lugarno Fund Letter (September 2021)
Bias to recent events
excerpt from Lugarno Fund Letter (June 2021)
Playing defence
excerpt from Lugarno Fund Letter (March 2021)
Patience
excerpt from Lugarno Fund Letter (December 2021)
Value investing and saying ‘no’ to achieve more
Podcast Interview
Fear and Greed
Often recited, harder to execute
Everyone’s opinion is really just a guess.
Howard Marks’ recent memo gives good context to this market correction and its eventual recovery.
Show us your track record
Beware of the hyped-up anything.
Forecasting is Guessing
Be wary of analysts claiming a genius ability to predict the future
How Fragile are your Investments?
After 26 years without a recession in Australia, it’s easy to be complacent about Risk
Get Rid of Your Most Loved Ideas
Why our best ideas are often not our best investments
History Rhymes
“History doesn’t exactly repeat but it does rhyme” - Mark Twain
