One of Australia’s best stock pickers shares what’s at the heart of every great investment скачать в хорошем качестве

One of Australia’s best stock pickers shares what’s at the heart of every great investment

Let's be clear: Past performance is not a reliable indicator of future return. That said, Robert Gregory from Glenmore Asset Management would happily stack his performance over the past seven years against just about anyone else in Australia. Since its inception in June 2017, the Glenmore Australian Equities Fund has returned 271% versus the ASX All Ordinaries Accumulation Index’s 94.44% - good for an annual return of +19.3% per annum since inception, as at 30 October 2024. Whilst performance has been exceptional, there is no silver bullet, magic formula, or secret herbs and spices that have driven it. Rather, Gregory puts it down to the amount of research he does for each stock that ends up in the portfolio - which can take a minimum of months but, as is often the case, has been followed for years by Gregory. Other key elements of Gregory’s philosophy include buying quality businesses at the right price, but also understanding what lies at the heart of those 'quality' businesses. "The overriding philosophy is to invest in quality businesses at attractive prices", says Gregory, adding that a quality company has, almost always, a product or service that resonates with investors. "It should have a really high-value proposition. It might help the customer save money. It might allow the customer to make more money in its business. It might bring enjoyment to a customer's life, but generally speaking, at the heart of every great investment, you're going to have a great product or service," Gregory says. In the following episode of The Pitch, Gregory shares a little more about his journey and the key elements of his process.