Searching for predictability in an unpredictable market with Warryn Robertson
Equity Mates Investing PodcastShow Notes
Markets are looking increasingly unpredictable, but are investors overlooking some of the world's most reliable businesses?
Lazard Asset Management's Warryn Robertson joins Bryce and Ren to explain why he's looking for predictable earnings and strong competitive advantages, and why he's increasingly concerned about what's happening beneath the surface of the share market.
From data centres and mobile towers to Visa, lotteries and a surprisingly compelling tax business, Warryn unpacks where he's finding opportunities, why he thinks some popular investments don't stack up and how AI is changing the definition of a great business.
In this episode:
00:00 Finding Predictable Stocks 01:38 Warryn’s Investing Origins 04:35 Spotting Financial Red Flags 06:50 Why Infrastructure and Equities 11:22 Visa as a Franchise 13:18 Inflation and Infrastructure 15:45 Inside the Infrastructure Checklist 20:05 Satellite and Tower Assets 24:48 Five Sources of Franchise 29:57 Fund Performance and Positioning 36:01 AI and Business Predictability 38:31 H&R Block’s Hidden Strength
Stocks & ETFs mentioned: Visa (NYSE: V), SES (Euronext Paris: SESG), American Tower (NYSE: AMT), Crown Castle (NYSE: CCI), Cellnex Telecom (BME: CLNX), Anheuser-Busch InBev (EBR: ABI), Brightstar Lottery (NYSE: BRSL), La Française des Jeux (EPA: FDJ), PayPal (NASDAQ: PYPL), H&R Block (NYSE: HRB)
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