Australian Investors Podcast
John Addis: Win at investing by losing less
Oct 16, 2024
John Addis, founder of Intelligent Investor and a leading voice in Australian investment writing, shares insights on avoiding costly mistakes. He discusses four categories of investment losses, including stocks he shouldn't have bought and ones he sold too soon. The conversation dives into the evolution of value investing, emphasizing intangible assets. Addis critiques the downfall of Star Entertainment and the risks of chasing tech innovations like Afterpay, while highlighting the importance of understanding market trends and the psychology behind investing.
01:23:23
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Quick takeaways
- The podcast emphasizes the GARP investment strategy, advocating for acquiring shares of sustainably growing companies at reasonable prices to mitigate volatility.
- John Addis discusses the importance of learning from historical investment mistakes, particularly those involving timing and fundamental analysis.
Deep dives
Understanding GARP Investing
GARP, or Growth at a Reasonable Price, is highlighted as a balanced investment strategy that combines the advantages of both growth and value investing. The strategy focuses on acquiring shares of companies that exhibit sustainable growth potential without being overpriced, thereby seeking good companies at fair prices. An example is provided through Globalex's GARP ETF, which aims to give investors a portfolio that includes companies with solid growth prospects while managing valuation risks. This approach appeals to investors looking for long-term, stable returns as it mitigates the issues of volatility often associated with purely growth-focused investments.
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