Livewire - The Rules of Investing

Podcasts
Livewire - The Rules of Investing
01 Jul 2021

Livewire - The Rules of Investing

50 mins

The ‘special’ stocks Emma Fisher is hitching the Airlie wagon to.

Truly special businesses don’t come along very often. Those with enduring competitive advantages, the ability to grow for long periods and produce high returns on capital. When you find a rare business like this, it’s important to think long term, and “hitch your wagon to those economics”, says Emma Fisher, Portfolio Manager and Head of Research at Airlie Funds Management.

That’s exactly what she did when making her first recommendation as an analyst back in 2013. As the time, CSL was trading around $60 per share. She continued following the company, and when starting at Airlie in 2016, advocated holding the stock across their portfolio.

Her patience and commitment have paid off, with CSL up nearly five times from her initial recommendation, and three times since 2016. But today CSL faces new challenges in a COVID-affected USA.

In this episode of The Rules of Investing podcast, we discuss those challenges and how CSL is placed to navigate them. We also hear why markets are underestimating Aussie retailers yet again, and we learn about an Aussie small cap powering ahead on its Formula 1 credentials.

Important Information: Units in the fund(s) referred to herein are issued by Magellan Asset Management Limited (ABN 31 120 593 946, AFS Licence No. 304 301) trading as Airlie Funds Management (‘Airlie’) and has been prepared for general information purposes only and must not be construed as investment advice or as an investment recommendation. This material does not take into account your investment objectives, financial situation or particular needs. This material does not constitute an offer or inducement to engage in an investment activity nor does it form part of any offer documentation, offer or invitation to purchase, sell or subscribe for interests in any type of investment product or service. You should obtain and consider the relevant Product Disclosure Statement (‘PDS’) and Target Market Determination (‘TMD’) and consider obtaining professional investment advice tailored to your specific circumstances before making a decision to acquire, or continue to hold, the relevant financial product. A copy of the relevant PDS and TMD relating to an Airlie financial product or service may be obtained by calling +61 2 9235 4760 or by visiting www.airliefundsmanagement.com.au.

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