QAV Investing Podcast (Free Edition)

In this episode of the QAV podcast, hosts Tony Kynaston and Cameron Reilly are discussing a record-high in the All Ordinaries index spurred by the 'Trump bump', Aussie Broadband's sudden dive (ABB), portfolio results, more FY survey results, MLX's bump, the Shipping Crisis, thoughts about integrating "Buyback Yield" into the checklist, and Tony breaks down the history and market stance of Elders Limited (ELD) in a detailed 'pulled pork' segment. They also explore the Apple Vision Pro's new features and its future alongside immersive tech like Oculus Rift, then shift to the political scene with discussions on Trump's influence on global conflicts. The conversations touch on AI, Elon Musk's ventures like Neuralink and SpaceX, horse racing updates, book recommendations, and reviews of 'Better Call Saul' and Tom Cruise films.

In this episode of the QAV podcast, Tony Kynaston and Cameron Reilly discuss the necessary improvements and changes to their US portfolio, including updates to their buying checklist and new financial metrics. Tony does a pulled pork on the U.S. company Willis Lease Finance Corporation (WLFC). In Australian news, they delve into market news affecting coal and iron ore prices and cover some more member survey results ad TK updates us on his Rich List Portfolio . IN after hours, they talk about Tasmania's MONA art gallery and reflect on AI's future, drawing from insights by Elon Musk and Bill Gates, indoor golf simulators compared to real-life golfing, and their upcoming demo of the Apple Vision Pro, speculating on technology's impact on real-life experiences.

In this episode of the QAV podcast, hosts Tony Kynaston and Cameron Reilly cover a range of topics at the start of the new financial year. They begin the resilience in financial and property markets amid global interest rate hikes, and how the gig economy affects unemployment rates. They also touch on the history and impact of quantitative easing, review their own and member financial year results, and analyze market news related to companies like Myer and Fortescue Metals Group. Tony provides an in-depth look at Auric Mining Ltd (AWJ) in his 'pulled pork' segment. Tony answers questions about tax rates and performance-based share issuance, then in After Hours they get into movie reviews of 'Furiosa' and 'Marie Antoinette.' They also explore AI's potential future impacts on job markets and technological advancements, referencing Ray Kurzweil's predictions.

In episode 726 of QAV, Tony and Cameron pay tribute to the late Donald Sutherland, then shift to discussing fluctuations in the crude oil market, a deep dive into Ben Graham's investment principles and their relevance today, alongside a detailed analysis of TabCorp Holdings, the market's over-reaction to HLI news, and FND breaking the curse of the pulled pork.

In this episode of QAV, Cameron and Tony dive into recent market activities, the RBA’s decisions, the Lindy Effect, substantial shareholder announcements, and GrainCorp’s prospects, along with a detailed analysis of Embark Early Education (EVO). Member questions about living off a share portfolio during down years and the differences between value and quality investing are addressed. Additionally, Tony clarifies the calculation of shares on issue for Rio Tinto, emphasizing global figures for earnings per share. In after hours, the duo also covers Mario Puzo's 'The Godfather', Alphonse Mucha, and the Archibald Prize, and discuss the potential and risks of AI, drawing references from science fiction. They wrap up with thoughts on films and books, including 'Klara and the Sun'.

In this episode of QAV, Cam and Tony explore the U.S. market for the first time, with a brief introduction of Tony and his QAV system of value investing, a discussion of value v growth investing, a discussion of the performance of our U.S. dummy portfolio, a deep dive or 'Pulled Pork' segment on Reinsurance Group of America (RGA), and a review of the FY survey results we've received so far from club members.

Join Tony and Cameron in episode 723 of QAV as they discuss a variety of topics ranging from American barbecue joints to the Hunter Biden lawsuit. Tony talks about his relaxing golf trip down the East Coast and the challenges of selling a house. Then we discuss Vulcan level emotional detachment in investing, recent market movements, and specific stocks like CUE, MME, and PRN. There's also an exploration of dividends and portfolio performance. In after hours, we're talking about 'The Blues Brothers' Sidney George Reilly (Ace Of Spies), Nicholas Cage in "Dream Scenario" and our plans for our first U.S. episode.

In this episode, Tony provides insights into recent retail sales figures, the market's reaction, and the concept of 'confession season' in the corporate world. Then he conducts a detailed 'Pulled Pork' segment on Stealth Group (SGI), a tool retailer, evaluating its financial health, market performance, and prospects. In the club edition, we also discuss the reasons behind varying member performances (and our own performance), and discuss the importance of sticking to a disciplined investment model.

In 721 we discuss the pain of FND, why Aussie investors keep investing in unprofitable companies, and TK does a Pulled Pork on SRV. In the club edition only: the myth of the ‘new normal’, why LIC AFIC is selling below its NTA, how Aussie investors can benefit from the AI boom, what we should do about copper prices being up, how to interpret the number of buys going down, how often is TK is making purchases based on factors outside the numbers, and how to interpret the resignation of the PRN CFO.

The Budget cometh, Lessons in Kindness from Buffett, and a Deep Dive into Boom Logistics. Also in the Club edition: Reflections on Jim Simons and Quant Investing, Navigating Market Fluctuations: FND and FPR Updates, Exploring VYS's Surge, Elon Musk's Suggestion to Warren Buffett, Marcus has a question about applying quality score to existing holdings, Jim asks about Life 360, Stock Doctor Data Integrity Issues, Nick asks about Josephine rules, Trent asks about AGL and LNG

This week we're talking about the Berkshire Annual Meeting, China's gold purchases, a pulled pork on EHL (Emeco Holdings), SXE profit guidance update, Regression testing Price < Cons, Activists vs Karoon Energy (KAR), Austal (ASB) backers want Hanwha Group in the race, TRS is a 3PTL Sell, Apollo sinks THL, Morningstar valuations, banks doing large buybacks.

This week we're talking to Matt Walker about his regression testing system, Stock Doctor's continuing data quality issues, NCK's UK expansion, HMC Capital takes aim at GNC, fudging DUR and LAU, and get some insider information about Austal Ships.

This episode includes a deep dive analysis of Bank of QLD (BOQ), Joyce Corporation Ltd (JYC) and Atlas Pearls Ltd (ATP), Howard Marks on Chess and Risk, Dummy Portfolio and dividends, and a regression testing update on QAV scores.

The AORD dropped this week, as did BOQ, TK does a Pulled pork on RSG. Also in the Club edition: WOW’s CEO threatened with time in the big house, FND does an Indian ATM deal, TK talks about the Pulled Pork and Billionaire Portfolios.

The IMF on China, Diller on Trump Social, Bitcoin and Beanie Babies, pulled pork on A1M. Also in the Club edition: Cash and Armaguard, Anscombe’s Quartet, Regression testing, Tesla veers to the EV slow lane, Ex-defence minister Pyne is Hanwha’s man in Canberra, Karoon plots path from oil junior to major through Gulf of Mexico, and a thought experiment about when TK would sell if the stock market didn't give live prices.

This week: Daniel Kahneman RIP, Sturgeon’s Law, Pulled pork on ASB Plus, in the Club edition: Valuing Bitcoin, Coking coal a sell, New Regression Testing results, Alchemy substack, Collins St does well again, ABB news, the performance of founder lead companies.

This week: Do ASX investors need to get used to expensive stocks, and a pulled Pork on G8 Education (GEM). Also in the Club edition: theories on why KSC spiked, whether AMC CEO’s sudden resignation is a red flag, MEA is being sold, Macquarie’s new FOMO meter, ABB’s Superloop troubles, and what to do if you still own VUK.

This week, while the RBA meets, we talked about ABB dropping 20% in a day, steel and coking coal fall, China’s economy beats expectations in the West, regression testing update, Damstra (DTC) is taken over, and a pulled pork on MSV.

This week: Delisting of TGA, VUK acquisition, Pulled pork on BOQ. In the Club edition only: SD fix NWS issue, IRI loses Chair of Audit Committee, Tony’s testing on 2BL sell trigger, Tony answers questions about how to manage a portfolio if you move overseas, reducing our average daily trades to mitigate risks of the QAV spike, the risks of cap raises, different ways how a company can take on debt, and the benefits of share buy backs.

This week: AORD his another all-time high, reporting season is over (but now we’re in ex-div season), ING recorded a massive profit but the market dumped it anyway, Pulled pork is on Regis Healthcare (REG). Also on the Club edition: Ray Dalio thinks the Mag7 are “fairly priced”, Collins St Value Fund wins again, Cam’s regression tests come up with something interesting, Tony has more to say on the shrinking ASX, and after hours.

This week: We discuss our favourite bits of Buffett’s new annual letter, and Tony does a pulled pork on Vulcan Steel (VSL). Also in the Club Edition: We discuss the results of a new 20% Rule 1 simulation, Reporting Season News, LNG is a sell, Data shows Cathie Wood's Ark is one of the worst funds, NVIDIA results, and TK's perspective on 'Losing too many stocks' to M&#038;A.

This week: The market remains buoyant on the back of positive earnings, DTL crashes 22%, Buridan’s Ass, Pulled Pork AGL. Also in the Club edition: Darryl’s portfolio analysis, Magnificent 7 profits now exceed almost every country in the world, SD ASX 300 change, Jordan’s Renko and hugline regression testing.

This week: Market and portfolio updates; Nick Scali and Myer jump on profit results; the pitfalls of passive investing; the cracks deepen beneath the market’s surface; Woodside Santos merger collapsed; pulled pork on MME. Also in the Club edition: Lithium execs goolies; McDonald’s records first sales miss; Stock tips are for patsies; Matt Walker’s regression testing system; Three Men Make a Tiger; NWS shares in Stock Doctor; WAF’s forecast earnings.

This week on QAV: Market hit all time high, then retreated… because of McDonalds in Gaza?!; Portfolio report; pulled pork on Metcash (MTS). In the Club edition: CCP results and share price; System Justification Theory; Elon’s Tesla strategy; Jordan’s regression testing; hedging QAV with Growth stocks (aka the Anti-QAV); RBA leaves rates unchanged; FPR operating cash flow.

This week we’re talking about: Munger’s final portfolio, Base-Rate Neglect, Pulled Pork - TLS Plus, only on the Club edition: Evergrande liquidation, Aluminium and CAA, Fund managers reveal their big investment mistakes, Crypto still isn’t legit, Reporting season about to start, and using Renko chart to track Duratec’s decline.

On this week’s show: Retail traders are suffering from fatigue; Lithium and tech stocks crashing; AI means the cost of intelligence will plummet. Club edition also includes: Why TK keeps his mortgage facility open; Pulled pork on FND.

Market and portfolio updates, Brent’s secret QAV tweaks which delivered his terrific results, and GNC vs Wheat. In the Club episode, Pulled pork on Brambles (BXB), STOCKOPEDIA NAPS, the “Curse of Knowledge”, more discussion on Average True Range.

TK’s back to talk about: "Santa Claus" rallies, a Pulled pork on Resimac RMC, and using an ATR stop loss. In our club episode, we're also talking about how to score N/A on Health Stable or Increasing, and What I Learned About Investing from Darwin by Pulak Prasad, WHC &#038; Thermal Coal, Skill Compensation, Dogs of the Dow, and the proposed Woodside/Santos merger.

On our first show of 2024, I’m covering how the market and our portfolio ended 2023, adding GEM back to a portfolio, TK has a pulled pork on COF, and I talk to ChatGPT about the role the USD being the world’s reserve currency plays in the strength of the US economy.

On our last episode for 2023, I’m flying solo, but I do have a pre-recorded pulled pork from TK on ERD, and I’m also talking about the sudden falls last week by CLX, MTO, and ASG, as well as the first of Morgan Housel’s “100 LITTLE IDEAS”. Only in the Club edition: I asked ChatGPT to pick out a couple of highlights from our 2023 podcasts for the recap.

On this episode: The AORD is having a good Xmas (so far), STW and AFI above their buy lines, our portfolios are doing well, pulled pork on CXO (Core Lithium) Club: new Commodity Status history feature, PRN poll, FPR net operating cf, CCP on a tear, talking about REITs, pulled pork on CXO (Core Lithium) and why BFG is having a run.

On this episode we’re discussing Charlie Munger, pulled pork on ING, and if QAV is based on momentum and minimizing losses. In the club edition only: PRN’s guidance, ATP’s bump, ADT survey results, portfolio updates, RBA rate hold, MMS losing a govt contract, ASX 200 stocks with single-digit P/Es, thoughts about VYS giving their Managing Director an Interest Free loan.

On this week's episode, I do a farewell to the late, great Charlie Munger, and in the Club episode, TK takes us through the analysis he and Ryan did about Rule 1 and buying from the top or bottom of our list.

This week we're talking about how we assess management quality, how to invest if you have a lumpy income, a pulled pork on MMS, and (only in the Club edition) Ridley Scott's appalling Napoleon film.

This week in the free episode we’re talking about how immigration is driving inflation, last week’s drama with KAR and NTD, how Oil briefly became a sell, breaking down BPT’s revenue from oil, the de-stapling of ABG and ASK. In the Club episode, we also discuss the CVL pulled pork curse, TK’s thoughts on the ABB SPP, a pulled pork on DGL and Berkshire’s Apple purchases.

This episode: Australian income drops, Munger says we need to buy tech stocks, Pulled Pork on CVL. Club edition only: ASX historical average 13.2%, Iron ore and China, HESTA fined by ASIC, ANZ's results lead to drop, how to deal with a situation when a buy list stock is in play, Interest rate rise means a change to IV value, MQG did not take an impairment, using Tradingview for commodities, and a refresher on what stocks to sell when you need cash.

ASX making us feel punch drunk; QAN revolt; MQG profit drop; pulled pork SSM; Club edition only: JHG delisting; Light Sells analysis; new survey on ADT; SSR down; FPR up; Buffett’s cash pile; RBA meets; cup tips!

Commodity updates; FMG red flag status; how share incentive plans work; In the Club edition: Pulled pork DTL; what TK looks for when he does a pulled pork.

We're in a technical correction; staying fully invested; CCP collapse; new 3PTL sells number jumped this week; Pulled pork RRL; the performance of AFI. In the Club edition only: Is being rich a superpower?; staying enthusiastic during a long downturn; how TK differentiates between quality and value; the value/risks of a concentrated 10 stock portfolio; WWTD if he had cash but a full portfolio?

"This time it really might be different” says Marks; Portfolio update by Market Cap; Pulled Pork on PRN; In the Club edition, we’re also talking about: Gold is a buy; PGH 2BL example; Chuck Feeney died; Joe Aston's final Rear Window; Has TK found a maximum size where a portfolio stops getting 'QAV like returns’?; Imagine the markets were to theoretically close for 10 years…

The RBA holds rates; Israel Gaza and oil; Dumb Money v Wall Street; Joe Aston quits; HVN SD update; Red October; Pulled Pork on SXE; Quality Score vs QAV Score; How TK manages market downturns when leveraged; how TK plans to live off his portfolio in retirement in down years; why was beginning of month chosen for josephines and not a rolling 30 day price; 'value trap' tool; the performance of our personal portfolios for this financial year vs the DP; performance of high v low ADT stocks.

Chris Batchelor from Stockopedia talks to us about how their product can help Australian (and international) investors make better investing decisions. Then in the Club edition, TK and I talk about the market rout, RBA and interest rates, portfolio performance, Woodside and Richard Goyder, the double loop concept in retail, putting Super into housing, Josephines and dividends, and the Murdochs.

Rupert’s retirement, YAL PROPCAF update, portfolio report, pulled pork on KAR, using 3PTL with the ASX.

CAGR reporting, YAL’s PrOpCaF, US Portfolio, SGM market update, Lithium a Sell for PLS, Viva Energy &#038; Vitol, QAN troubles, Mortgage rate change 6.58%, CCP now ex-div, Brisbane catch up, Pulled Pork: WGX, borrowing against a mortgage to invest in shares, ex-dividend and Josephine status, and charting our buy list.

Steven Mabb, Chairman of the Australian Shareholders Association (and QAV Club member) returns to share his thoughts on proxy votes, QANTAS, Nick Scali, EML, Virgin UK, FMG, REM reports, AGMs, director workloads, auditors becoming board members, the value of independent directors, gender representation on boards, and much more.

Commodity Updates, WSI crash, Australia spooks global LNG markets, Buffett says he could make 50% return per year, FMG CFO quits, QAN in a bit of a pickle, Pulled pork on AIZ, are the sins of a former CEO carried forward, and an update from Tony on the use of RENKO charts.

Wheat is a sell; FMG is a red flag; PLS results and crash; AFG results and crash; the cost of timing the market; great guns; QAN results; Pulled Pork MAH; where the money goes; beta volatility and QAV; US investors who claim their methodology returns 30% - 60% pa.

This week on the show: PRN reports great results and crashes; China’s slowdown; US bond yields; SGM results; Pulled pork WHC; new mortgage rate; TK’s thoughts on Imugene (IMU) and share placements at a significant discount.

Fitch downgrades the US, Lowe has new ideas about the RBA, NCK beats the pulled pork curse, MYR rebounds, iron ore falls (every October?), Baby Bunting pulled pork, and problems with Updater’s delisting.

The market’s had a rough week, MYR collapses on good results, business confidence is up while consumer confidence is down, coking coal isn’t a sell after all, pulled pork on NCK, possible changes to Rule 1, BBN’s performance, and adding buybacks to the checklist.