Nathan Bell, CFA is the Head of Research and Head of Funds Management at Intelligent Investor, part of Investsmart Ltd (ASX: INV).
Nathan Bell recently joined Owen Rask on The Australian Investors Podcast to dive deep into international markets and explain why it pays to look globally to find the best companies on earth.
Previously, Nathan Bell joined Owen for a discussion about ‘finding the 10 best companies on the ASX‘.
Nathan Bell podcast talking points
- Who is the best global CEO you have come across?
- If you could only pick one, the cash flow statement over 3 years or the profit and loss statement over 5 years, which would you take?
- What’s one thing you have learned about investing in the past year?
- With volatility up, turning over rocks seems more fruitful than ever. What is the highest quality company you have come across in the past 12 months?
In a previous conversation we spoke about your focus on ASX-listed companies but today we’re here to talk global markets due to the launch of a new fund, Intelligent Investor Select Share Fund.
- Why launch this fund now? What can investors expect and why should they consider it? (opportunities, local market dominated by banks/resources, etc.)
- Where do you most Australian investors go wrong when it comes to global markets?
- Is it a positive or negative that folks in Australia aren’t awake during market hours?
- Obviously, the universe of opportunities is going to be a lot bigger. How does the investment process differ?
- In terms of filtering, what goes into narrowing the opportunity set? (i.e. what factors do you screen for, how do you compile a watchlist, how many stocks do you cover per analyst, etc.)?
- Are there any risk management techniques or portfolio construction principles you apply to a global portfolio relative to an ASX portfolio? (Hedging, position sizing, sectors, etc.)
Let’s dive into two stocks you have identified: ING Groep & Universal Music Group.
Nathan covers:
- Intro to the company (origin story)
- Industry dynamics (key players, cost of production, distribution, key events, etc.)
- Management team
- Some of the risks
- Financials (broadly)
What would you say to people who, right now, with interest rates higher, are worried about investing and sitting on the sidelines?
Wrap up and how people can get involved in the fund.
