Season 1, Episode 43
No Old, Bold Pilots
“There are old pilots and there are bold pilots, but there are no old, bold pilots.”
– Charles D Ellis
On this episode of our investing podcast:
- We have our second QAV Club subscriber guest, Paul, a criminal lawyer from Sydney, who calls himself “a disastrous investor”.
- Paul asked Tony a bunch of great questions about the checklist, including drilling down on why Tony doesn’t try to understand a business deeply before he invests in it (like Warren Buffett and Peter Lynch), and about understanding how to factor in shorting.
- Cameron reads out some quotes from “Winning The Loser’s Game” by Charles D Ellis and gets Tony’s comments on them.
- Our stock deep dive of the week is MRC – Mineral Commodities
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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.