Angus Donohoo on lessons from Kerr Neilson, and dating apps versus pokies

Angus Donohoo is an investor and analyst from Intelligent Investor, with a special and unique background of experiences. In this detailed and entertaining Australian Investors Podcast episode, our Chief Investment Officer, Owen Rask, talks with Angus about:

1. Why dating apps (such as Tinder and Match Group, etc.) are more like pokies than social media networks
2. What Angus learned from working with Kerr Neilson
3. Lessons learned, particularly around position sizing, and
4. The rise of AI stocks and who wins

Angus Donohoo podcast talking points

Angus, a really interesting way to weave your background into our conversation could be to start out through the lens of dating apps. Can you walk us through your first exposure dating apps, as well as the industry landscape / scene for listeners of what they are, how they monetise, and why they exist?

Whilst you were in Hollywood, you got involved in the cryptocurrency scene. What were you doing?

How did you come to be involved with Kerr Neilson?

I’m sure you have been asked this before, but if you had to pick 2-3 things that Kerr taught you about companies, compounding or “stocks”, what would they be?

In an article on Intelligent Investor recently, John Addis asked the analysts including yourself to reflect on your greatest investing lessons learned. You said, “The most critical lesson I’ve learnt in investing is not to over-index to any individual lesson.” Expand on that for us.

The second lesson was: “…not to mis-size your bets.” Talk us through that.

If you could build a recipe for position sizing, what ingredients would you throw into it?

If we circle back to dating apps, the shares of the biggest companies have been whacked. Including Match. Why do you own them? And what do you think other investors get wrong?

I know you spend a lot of time immersed in technology trends and ecosystems. Do you think Microsoft or Nvidia is a better bet on AI over 3 years? Why? What about over 10 years?

Finally, if you could go back in time and tell yourself one thing about money, finance, business or investing, what would it be?