Go Australia!
Interesting in last weekend’s AFR to read about the soon-to-be released book The Worlds’ 99 Greatest Investors written by hedge fund analyst Magnus Angenfelt.
Angenfelt spent 5 years identifying and then interviewing a group of investors he felt should be considered the very best in the world, based on 25 year performance track records.
This is an interesting development – while there is an enormous amount of investment literature published by academics and practitioners, a broad survey of what has really worked over the last 25 years is something a little different.
Angenfelt identified the typical member of the group as being a 60 year-old American value investor. This is perhaps not too surprising, given that value investing (which tends to be method of choice for professional equity investors) was invented at Columbia Business School, and anyone with a 25 year track record has been around for a while.
Pleasingly, Australians were very well-represented among the 99 (on a per-capita basis). Props to Anton Tagliaferro, Kerr Neilson, Robert Maple-Brown and Michael Hintze.
Eventually the generational baton will be passed and those looking amongst the next generation of money managers need to look no further than Montgomery. Eli Greenblatt’s 2007 book, Young Guns on the Sharemarket: Meet Australia’s New Generation of Money Makers, features Montgomery’s founder and Chief Investment Officer, Roger Montgomery as Chapter 2.
Amazon’s description of the book: “Eli Greenblat is a financial journalist who has followed the careers of Australia’s young, talented moneymakers. This book is a fascinating insight into the investing strategies of a selection of money managers — all extremely successful, all under 40.”
Go Australia!
Tim joined Montgomery in July 2012 and is a senior member of the investment team. Prior to this, Tim was an Executive Director in the corporate advisory division of Gresham Partners, where he worked for 17 years. Tim focuses on quant investing and market-neutral strategies.
This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.
Michael Leslie
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Indeed! They might have missed you guys this time but not for long. Keep going don’t stop.