How this Hall of Fame bear is buying the dip

How this Hall of Fame bear is buying the dip

It’s not a stretch to call the last twelve months in markets a regime change. Inflation, rates, valuations, liquidity; everything has been turned on its head. 

While today’s conditions may be unique in makeup, they’re not new in isolation. Each of the trends we see today have visited markets before. 

So who better to get on the Rules of Investing than someone who has seen it all: Hall of Fame fund manager Chris Kourtis from Ellerston Capital. Chris has served as a Director and Portfolio Manager of Ellerston since 2005, and has over 36 years investment experience.

Before Ellerston, Chris co-founded the Melbourne based Investment Management firm Portfolio Partners in 1994, where he served as Director, Senior Investment Manager and Head of Equities. 

As you’ll hear, Chris is extremely bearish on markets – but that doesn’t mean he’s packed his bags. Quite the opposite, he’s bought the dip!

TOPICS DISCUSSED:

  • the parallels between today and the dot-com crash
  • how to gain exposure to the resource sector without being a slave to commodity prices 
  • the problem with banks
  • what he liked about Xero compared to other tech plays
  • the importance of dividends
  • why ‘old-school’ investing principles are so important in today’s market

He also gives us double value for money by naming two stocks he’d put in the bottom drawer.

Show More

Backward
Play
Forward
1x speed
  • 0.5
  • 1
  • 1.5
  • 2
Other episodes
Why the stock market’s bubble hasn’t really burst yet

Why the stock market’s bubble hasn’t really burst yet

When markets crash sharply, as they did earlier this year, it can be a mistake to assume that as soon as the falls peter out, the market will then naturally recover. 
Sure, this sometimes happens. The crash of 87, the global financial crisis, and COVID a...

127 downloads Rules of Investing Sep 02, 2022
47m
We’re in ’Tech Wreck 2.0”, and some big names won’t make it

We’re in ’Tech Wreck 2.0”, and some big names won’t make it

The world is opening, but not to calm and stability. 
Rather, COVID has left a trail of destruction. And I'm not talking about the health implications. The pandemic has left economies and markets rattled by supply chain problems, inflation, and rate hike...

110 downloads Rules of Investing Aug 19, 2022
43m
A stealthy small cap quietly building a market monopoly

A stealthy small cap quietly building a market monopoly

Investment management can be a brutal business. When you're talking small caps, the brutality is amplified orders of magnitude. 
Between March 20 and September 3 last year, the ASX Small Ordinaries Index sky-rocketed 44.38%. That's the kind of performanc...

117 downloads Rules of Investing Aug 12, 2022
33m
Is a golden era for income investors coming?

Is a golden era for income investors coming?

Fixed income has had a torrid time of it the last year – in fact, by some measures it’s been the worst year on record – with US treasuries losing about a tenth of their value. 
Since the beginning of this year, global bonds have recorded their worst perf...

169 downloads Rules of Investing Jul 22, 2022
31m
How Perpetual’s Vince Pezzullo invests when multiples retreat

How Perpetual’s Vince Pezzullo invests when multiples retreat

Markets are a right mess today, thanks to surging inflation and the fear of what that will do to earnings.  
In this environment, you want companies that have the market position, leadership and balance sheets to survive. However, actually finding these ...

166 downloads Rules of Investing Jul 08, 2022
49m
The best inflation protection you can get

The best inflation protection you can get

The prophets of doom are blowing their recession horns. Accordingly, investors want to hold assets that can be bulwarks against whatever's driving recession - that being inflation in today's case. And that's what today's edition of The Rules of Investing...

258 downloads Rules of Investing Jun 24, 2022
45m
Oscar Oberg’s bear market guide to oversold small caps

Oscar Oberg’s bear market guide to oversold small caps

Let's face it, it has been hard going in the small caps space - which is down almost 18% this calendar year. 
As soon as you get headwinds such as inflation and rate hikes, babies will invariably get thrown out with the bathwater. Good companies with str...

298 downloads Rules of Investing Jun 10, 2022
42m
Why Allan Gray is still bullish energy and cautious on darlings like CSL

Why Allan Gray is still bullish energy and cautious on darlings like CSL

Imagine for a moment that you had a clean sheet of paper from which to build your investment portfolio from the ground up. Would that rebuilt portfolio look the same as what you own today? One could guess that for many people the answer is no, and that i...

309 downloads Rules of Investing Jun 03, 2022
25m
Simon Shields: These stocks are turning market headwinds into competitive advantage

Simon Shields: These stocks are turning market headwinds into competitive advantage

We're all well aware of the headwinds battering markets today - inflation, supply chain pressures, and rate hikes. Yet it's easy, and misguided, to broad brush the market and expect all stocks to respond in the same way. As you'll learn in this edition o...

250 downloads Rules of Investing Jun 03, 2022
45m
Suggested Stories

Who would have guessed laws required companies to request...

DisinterestedSep 25, 2022
0 mins read

The question of whether abortion should be legal has been...

DanielJun 26, 2022
4 mins read

Four-time major winner Brooks Koepka has also left the PG...

sportislife15Jun 26, 2022
0 mins read

The subsidisation of unreliable “renewable” power is why ...

DisinterestedJun 19, 2022
0 mins read

LIV Golf is off to a good start, whatever the PGA Tour an...

sportislife15Jun 11, 2022
4 mins read

All governments eventually lose power, but the Liberal Pa...

DanielMay 29, 2022
4 mins read