As my other half can attest, I have two passions in my life: the mighty Carlton Football Club (Go Blues!) and investing. Keeping true to these themes I wanted to tell you a little story about one of my largest holding, Argo Investments Limited (ASX: ARG).
In 2018 I decided to take a day off work to attend the annual investment briefing of Argo, perched in a Melbourne skyscraper my sense of excitement grew as the event was set to commence.
As I looked around I noticed one thing, many attendees were senior members of our community. This put a massive smile on my face as I knew I was in the right room and my investment has been justified.
One of my mentors, the great Warren Buffett, once said that experience leaves clues and my key takeaway from that meeting was that Argo is trusted by these great men and women to protect their life savings.
What Does Argo Do?
Argo is a listed investment company (LIC) on the ASX. It was first established in 1946 and since grown to become one of the largest listed companies in Australia. The great thing about a LIC is that they are designed to invest in shares on behalf of investors, taking the heavy lifting (research) out of shareholders hands. Also, according to its website, Argo aims to maximize long term capital returns for its shareholders.
Video: The Difference Between LICs & ETFs
How I Build My ASX Share Portfolio With Argo
If I was to merge my two passions of AFL and investing, Argo could be described as the star player in my portfolio, the player that performs week-in-week-out.
By investing in Argo, it also provides investors with access to other ASX all-star players such as Westpac Banking Group (ASX: WBC), Macquarie Group Ltd (ASX: MQG) and BHP Group Ltd (ASX: BHP).
In conclusion, I think Argo is a solid investment for anyone looking to gain access to some of the largest companies on the ASX.
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of writing, Anthony owns shares of Argo Investments Limited.