In this Australian Investors Podcast episode, your host Mitchell Sneddon sits down with Tim Carleton, founder and Chief Investment Officer at Auscap Asset Management, to discuss:
- Auscap’s high-conviction approach to investing
- What makes a business “high quality” (and worth holding long-term)
- Risk management insights from Macquarie and Goldman Sachs
- Why valuation discipline and business quality matter more than ever
- The logic behind Auscap’s top investments including ResMed, REA, and Nick Scali
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Topics Covered
- Tim’s investing origin story: from punting at uni to Macquarie & Goldmans
- Auscap’s focus on the top 70–80 companies in the market
- Why competitive advantage and ROE drive long-term returns
- Position sizing, portfolio construction & trimming winners
- The ResMed GLP-1 panic and contrarian investing
- Lessons from cycles in mining and banking stocks
- How to think about risk, valuation, and business quality
- Advice Tim gives to students at Sydney Uni
