Season 1, Episode 40

 Tony Gives Up His Rights 

Tony talks about rights issues and some of the complexities involved in knowing whether to take them up or not. I know, right? Sounds boring! It wasn’t actually, I learned a lot. We also discussed a few recent news articles about value investing, Tony reveals his wine of the week, and in our analysis section we breakdown the financials of Horizon Oil. 

As I’m posting this late in the day on 2019-12-04, our portfolio is out-performing the All Ords by 1300%! 

I know that won’t last, but it’s a nice number to see, even if it’s just for a single day. The ASX had a bad couple of days, down 3.5% since Monday, thanks, so I’ve been told, to Trump’s intention to impose a 25% tariff on steel and a 10% tariff on aluminum imports from Brazil and Argentina. Our portfolio hasn’t moved much though. Perhaps because we’re already buying the stock at a discount to their intrinsic value? 

Still, of course the ASX will pick back up and we’ll be back on track for our 200% benchmark at some point. I wonder how many companies just went QAV positive today? 

 

 

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Related

S02E07 The Shoe Salesman

​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”.

S02E06 – The Iceman

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.

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