The following exclusive podcast appeared on Livewire on August 24, 2019.
Moving to a new country is no easy task, but doing it while managing a portfolio, completing the exams for the Chartered Financial Analyst designation, and dealing with the challenges of parenthood is truly Herculean. That, however, is exactly what Joe Magyer, Chief Investment Officer of Lakehouse Capital, was doing in his first years in Australia. How did he manage all this? As it turns out, saying “no” can be a critical skill. And not just in time management either – Joe says “no” to a lot of new investment ideas too.
In this week’s episode of The Rules of Investing podcast, Joe tells us about the similarities and differences between Aussie small caps and global growth stocks, which global tech stocks will continue to grow and whose stars will fade, and why Visa’s new payment-splitting function doesn’t pose a significant threat to Afterpay.
1:30 – A “full throttle” couple of years
5:21 – Strategies to manage time and stress levels
7:22 – Joe’s pet investing topics
11:20 – An unusual way to come across an investment idea
13:55 – Large caps, small teams
19:13 – What defines an uninvestable company?
22:22 – Why global large caps?
25:50 – Similarities and differences between investing in Aussie smalls and global large caps
28:05 – How do WAAAX stocks compare to their global peers?
31:44 – Payment-splitting systems – how do they affect Afterpay?
33:40 – Key attributes of a successful growth stock
39:20 – In 10 years, what current global tech giants will still be dominant? Which will have fallen out?
42:31 – Joe answers our favourite questions
Moneyball: The Art of Winning an Unfair Game, by Michael Lewis
Disclosure: Joe Magyer and the Lakehouse Global Growth Fund own shares in Amazon, Visa and Facebook. The Lakehouse Global Growth Fund owns shares in Atlassian. The Lakehouse Small Companies Fund owns shares in Afterpay, Altium and Xero.