Matt Joass - Maven Funds Management
Some people aren't satisfied with simply investing in a managed fund or working in one. Matt Joass had to go and create one with his own methodology and ideals. A lot of hard work but he's doing it his way, as he explains in this episode.
Matt’s ideal investment is a small, fast-growing business, that is capital-light, with demand- and supply-side competitive advantages, high returns on incremental invested capital, little analyst coverage, deeply aligned management (typically founders), and that are top-dogs or first-movers in an emerging and important industry. Lastly, the company must be trading at a discount to Matt’s estimate of intrinsic value.
We chatted about:
- What a Managed Fund is.
- Why it's important to read the Product Disclosure Statement.
- The problems of investing by committee, the diffusion of responsibility, the politics and the herd mentality of larger funds.
- Kiwis building billion dollar businesses.
- Speculative mining companies - often a guy with a shovel next to a hole.
- SaaS companies and how to value them.
- His successful Pushpay (ASX:PPH) call.
- The alarm signals when management of a company is being granted too many options.
Before investing in any fund you should read the Product Disclosure Statement and seek advice from investment and taxation professionals to determine if the product is appropriate for your needs.
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Shares for Beginners is for information and educational purposes only. It isn’t financial advice, and you shouldn’t buy or sell any investments based on what you’ve heard here. Any opinion or commentary is the view of the speaker only not Shares for Beginners. This podcast doesn’t replace professional advice regarding your personal financial needs, circumstances or current situation.