Contrarians can be a lot like teenagers: they think they’re all different but end up looking the same.
At Allan Gray, being contrarian extends beyond our investment philosophy. It’s a way of life and permeates through everything we do, even in the people we hire.
In this Rules of Investing podcast by Livewire, Analyst Tim Hillier discusses how he came to work at Allan Gray and what makes us different from other investors. He looks at how financial statements can tell us a story and our rationale for holding two contrarian shares in our Funds. He also explains several key metrics we use when analysing stocks, as well as the dynamics of a changing Australian media landscape.
Click here to listen to the podcast.
Tim Hillier is an Analyst at Allan Gray. Tim holds a Bachelor of Business Science and a Post Graduate Diploma in Accounting (University of Cape Town) and is a Chartered Financial Analyst and Chartered Accountant.
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Equity Trustees Limited ABN 46 004 031 298, AFSL No. 240975 is the issuer of units in the Allan Gray Australia managed investment funds (Allan Gray Funds) and units in the Orbis Global managed investment funds domiciled in Australia (Orbis Funds).
Past performance is not a reliable indicator of future performance. There are risks involved with investing and the value of your investments may fall as well as rise. This represents Allan Gray Australia Pty Limited and Orbis Investment Advisory Pty Limited’s view at a point in time and may provide reasoning or rationale on why we bought or sold a particular security for the Allan Gray or Orbis Funds or our clients. We may take the opposite view/position from that stated, as our view may change. This article constitutes general advice or information only and not personal financial product, tax, legal, or investment advice. It does not take into account the specific investment objectives, financial situation or individual needs of any particular person and may not be appropriate for you. Before deciding to acquire an interest in the Allan Gray or Orbis Funds, or before making any other investment decision, please read the relevant disclosure document available on this website. We have tried to ensure that the information here is accurate in all material respects, but cannot guarantee that it is. Target Market Determinations (TMDs) for the Allan Gray products can be found at
allangray.com.au/PDS-TMD-documents,
while TMDs for the Orbis Funds can be found at www.orbis.com.au on the 'Forms' page under 'How to Invest'. Each TMD sets out who an investment in the relevant Allan Gray or Orbis product might be appropriate for and the circumstances that trigger a review of the TMD.
You should consider such funds’ Product Disclosure Statement (PDS) or Information Memorandum (IM), as applicable, before acquiring or disposing units in such funds’. The PDS or IM can be obtained from www.orbis.com.au and www.allangray.com.au.