Archive - Superfluous Value

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I try to follow the Buffett, punch-card approach to portfolio management and, accordingly, have barely transacted in the last year. But a set-up is…

May 26

For the first half of 2022, the Superfluous Value portfolio fell 14.7% in AUD, modestly outperforming the MSCI ACWI IMI, which fell 16.5%. The weaker…

Jul 27

For calendar year 2021, the Superfluous Value portfolio gained 29.7% in AUD, comparing favourably to the MSCI ACWI IMI which gained 23.5%. The declining…

Feb 7

I have been horrified watching the evil and unprovoked war unfolding in Ukraine over the last month. It is a brutal reminder for many of us how lucky we…

Mar 21

I am quite wary of the shipping industry, due to an almost flawless tendency towards value destruction, but have been following Teekay Corp (NYSE:TK…

Apr 26

Every value investor, having read Joel Greenblatt's masterpiece "You Can be a Stockmarket Genius", knows the feeling when they stumble across a special…

Nov 24, 2021

I am a well-documented fan of GMO (legendary investment firm Grantham, Mayo, Van Otterloo & Co) and devour every public contribution from its key…

Dec 20, 2021

Everyone ends up bagholding a steaming pile of turd in the markets sometimes and for me that time is apparently now (the most recent example, anyway…

Feb 16

I have been fairly open about Micro Focus being one of my larger positions and I know I have introduced the idea to a few people, so I wanted to share…

Dec 6, 2021

I am very rarely interested in Australian companies and currently own none. I operate with something of a reverse home-bias, which I see as a…

Sep 14, 2021

Amazon is all-too-often talked about as one of the reasons why investing in perpetual winners can work out, even at bubble valuations. Buying Amazon at…

Nov 1, 2021

In my last post discussing Petrobras and the Brazilian market's swan dive, I referenced a number of strong companies that I believed were being…

Mar 20, 2021

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