Ben RundleĀ is a Portfolio Manager of the Hayborough Opportunities Fund and co-founder ofĀ Hayborough Investment Partners. He joinsĀ Raymond JangĀ onĀ The Australian Investors Podcast to share his investing knowledge and lessons with our investing community.
Ben Rundle and his fellow co-founder,Ā George Capozzi, initiated the Hayborough Opportunities Fund in March 2021. His role as a Portfolio Manager at NAOS Asset Management for six years, along with founding a media business, highlighted the importance of return on capital and people/culture when finding high-quality businesses.
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Talking points
Beginning ā Why is it called āHayborough Investment Partnersā and BenāsĀ personal journeyĀ as an investor. @5:30 ā The story behind Benās media startup and the lessons he learnt.
@12:35 ā Benās experience as a Portfolio Manager at NAOS Asset Management.
@16:20 āĀ Investing philosophyĀ and approach at Hayborough Investment Partners.
@20:40Ā ā Why the quality of theĀ management teamĀ is a core focus.
@21:50 ā Discussion of theĀ Beacon Lighting Group LtdĀ (ASX: BLX) business and management team.
@28:10 ā Discussion ofĀ Bapcor LtdĀ (ASX: BAP).
@30:20 ā Where a business is not founder-led, how does Ben go about finding management teams that act like founders?
@33:30 ā Ben explains the importance ofĀ cultureĀ in a business and mentionsĀ PWR Holdings LtdĀ (ASX: PWR) and the book, āBuilt From Scratchā, which relives the story of how the founders builtĀ Home Depot IncĀ (NYSE: HD).
@40:20 ā Ben hones in on the significance of decentralisation, usingĀ Supply Network LimitedĀ (ASX: SNL) as an example.
@44:00 āĀ ValuationĀ approach and process.
@48:10 āĀ BooksĀ andĀ professional investorsĀ that have played the biggest influence on Benās investing.
@52:35 ā TheĀ personĀ who had the most prominent impact on Ben as an investor.
Date recorded:Ā December 22nd, 2021
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