The Allan Gray Podcast
12. Lessons from the winners and losers of the last five years
Aug 30, 2023
In this podcast, they discuss the winners and losers of the investment landscape over the last five years. They delve into topics such as the Steinhoff case, the dynamics of supply and demand in the paper and packaging industry, and the concept of value traps in investing. They also explore the potential of a South African insurance company for expansion. Overall, they share enduring lessons that investors can glean from the not-so-distant past.
47:23
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Quick takeaways
- Having a consistent investment philosophy and process is crucial for long-term success in asset management.
- Thorough research and analysis of company fundamentals are essential for making informed investment decisions.
Deep dives
Consistency, culture, and long-term outlook key for asset managers
According to Victor, having a consistent investment philosophy and process is crucial for long-term success in asset management. He highlights the importance of culture within the investment team, where robust debates and respectful arguments foster better decision-making. Furthermore, being privately owned allows for a contrarian investment approach, which can generate superior long-term returns. Victor believes that these three factors are essential for asset managers to withstand the test of time and deliver value to clients.
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