Season 1, Episode 37
Preparing For The Collapse
This week Tony answers a couple of questions from club member Dave about why Warren Buffet & Berkshire are sitting on a massive pile of cash and how Tony is preparing for a “global market crunch”.
We also talk some more about listed investment companies, the “this time is different” delusion, and some selected quotes from a video Cameron watched by billionaire value investor Howard Marks from Oaktree Capital.
And in our club section we take a look at the financials of gold miner PRU (Perseus Mining).
In terms of the checklist, I’ve learned how to add sexy new colours in my conditional formatting and a sparkline!
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Steven Mabb is our guest on the show today. He’s a recent QAV Club subscriber but has been a full time investor for the last couple of years, since exiting a very successful footwear business.He and Tony compare notes about investing in International ETFs, why buying stock #201 is a good strategy, neobanks, shareholder associations, and cheap brokerage versus using a full service broker.In our Club edition, our stock of the week is BPT (again). And we answer a question from Ange about what qualifies as a ‘recent positive upturn’. We also talk again about the decline of our portfolio in recent weeks due to the COVID-19 panic. Tony reminds us about Warren Buffett’s story about “Mr Market”.
Our portfolio continues to take a hit from COVID-19. But Tony is as calm as a zen master. He’s the ICEMAN. We talk about the corruption allegations against HZN and changes to CIA’s listing. Our stock of the week is MFD.