These are presentations from the Sohn Hearts & Minds Investment Leaders Conference in Sydney on 11 November 2016. Each high-profile portfolio manager is given 10 minutes to explain their investing strategies and include one major investible insight.
Geoff has over 36 years’ direct experience in investment markets. He founded Wilson Asset Management in 1997, and is currently Chairman of four WAM group companies and the Australian Stockbrokers Foundation.
Best idea: Armidale Investment Corporation
The pain gets closer every week and every day, as equity valuations are at unsustainable levels. Risk is being mispriced and we are close to an adjustment or significant equity market fall.
We believe that eventually, a company’s share price will reflect its fundamental value, but timing is crucial. Many smart people have mistimed the market and have gone broke in the short term although they were right over long term. We do not want to be fully invested in the market all the time, and our current cash levels are 41%.
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