As part of The Australian Investors Podcast, I’m thrilled that some of Australia’s best investors are willing to sit down and part with some of their wisdom for us mere mortals.
One listener recently told me that some of the lessons learned might take an average investor 10 years to figure out by themselves.
Back To The Future
The Australian Investors Podcast series kicked off with Wayne Peters of Peters MacGregor Capital Management in Sydney. Wayne is a market veteran with 30 years’ experience investing his own and client money.
The quote which stuck to me from the conversation with Wayne was this:
“Be curious” – Wayne Peters
According to Wayne, every investor needs to be curious about how the finance and business worlds work. It’s great advice for anyone. Ben Franklin said, “an investment in knowledge pays the best interest”.
Start reading and listening today.
Charlie Munger, a former lawyer and partner of Warren Buffett, realised his most valuable client was himself. He set aside an hour each day to read and think. It’s that hour which will reward you time and again over decades.
Speaking of Charlies, another piece of sage advice came from Charlie Aitken, a legend on the Australian stockbroking circuit. Now a fund manager at AIM Funds, Charlie invested in his brand and made a name for himself by being right about his investment ideas, but also telling people what he really thought.
“Make them laugh, make them think and make them money.” – Charlie Aitken
Perhaps the advice would be best for investors and advisers, but its neat advice for anyone. You may only have a few minutes of someone’s attention each day — leave an impression. (if you can, make it a good one!)
Finally, Robin Bowerman of Vanguard Australia gave me (and other direct investors) a counterpoint when I asked him what he would tell a young person just starting out on their investing journey.
“Simply buy a broad-based diversified index fund and then get on with your life” – Robin Bowerman
The fact of the matter is that most people might be better-off investing via an index fund than buying individual shares, active managed funds and ETFs directly.
At least, that’s what the research on active fund managers tell us. As they say, differing opinions make a market!
From all the team at Rask, happy weekend and I hope you enjoy the coming episodes in The Australian Investors Podcast.
— Owen Raszkiewicz (@OwenRask) September 24, 2018
The Pengana Private Equity Trust (sponsored)