Ben Rundle is a Portfolio Manager of the Hayborough Opportunities Fund and co-founder of Hayborough Investment Partners. He joins Raymond Jang on The Australian Investors Podcast to share his investing knowledge and lessons with our investing community.
Ben Rundle and his fellow co-founder, 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 – Why is it called ‘Hayborough Investment Partners’ and Ben’s personal journey as an investor. @5:30 – The story behind Ben’s media startup and the lessons he learnt.
@12:35 – Ben’s experience as a Portfolio Manager at NAOS Asset Management.
@16:20 – Investing philosophy and approach at Hayborough Investment Partners.
@20:40 – Why the quality of the management team is a core focus.
@21:50 – Discussion of the Beacon Lighting Group Ltd (ASX: BLX) business and management team.
@28:10 – Discussion of Bapcor Ltd (ASX: BAP).
@30:20 – Where a business is not founder-led, how does Ben go about finding management teams that act like founders?
@33:30 – Ben explains the importance of culture in a business and mentions PWR Holdings Ltd (ASX: PWR) and the book, ‘Built From Scratch‘, which relives the story of how the founders built Home Depot Inc (NYSE: HD).
@40:20 – Ben hones in on the significance of decentralisation, using Supply Network Limited (ASX: SNL) as an example.
@44:00 – Valuation approach and process.
@48:10 – Books and professional investors that have played the biggest influence on Ben’s investing.
@52:35 – The person who had the most prominent impact on Ben as an investor.
Date recorded: December 22nd, 2021
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