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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Michael Goldberg from Collins St Value Fund joins us again to talk about how they are managing the current market. This interview was conducted on June 8, so please take that into account.
This is “the white-knuckle part of the cycle”. Portfolio update. Iron ore and gold charts. Stockhistory v Stock Doctor prices. GMA and mortgage issuances. The milk stool legs. RBA and inflation. Small rods is WAY down. Wash-selling. PE contraction. Pulled pork on WDS. Benching Michael Jordan. UPST. Lots of Rule 1 questions. Buying a “wonderful company at a fair price” and ignoring sentiment.