Having spent time with several of the Orbis Investments team around the globe, I have discovered that they all share what is bordering on an obsession with finding the right stock, at the right price. Their contrarian approach is deeply entrenched in the culture of the entire firm.
I always enjoy talking to Ben Preston. In addition to being a brilliant contrarian investor, he is also passionate and energetic – which is contagious when spending time with him talking about investing.
I find the mindset of global investors fascinating: to span the entire world looking for opportunities means no two investments are the same. And usually, to find the next big thing, you have to dig deep – it really is the ultimate competition to be able to identify opportunities that are overlooked, under-appreciated and have hidden potential.
The best investors are highly competitive, but at the same time like to run their own race. This is certainly true with Ben Preston, who is a competitive marathon runner – the ultimate competition that you undertake completely alone.
As someone who has run their own business for the past 19 years, I understand what it takes to have conviction in your views, take risks and admit it when you are wrong. The best leaders have to do this to move forward. It must be an incredible amount of pressure however, to be investing other people’s money based on your views, while knowing that their valuable life savings or pension plan is reliant upon every decision you make. The weight of this responsibility must be akin to a doctor, who literally holds a patient’s life and death is in their hands.
This is why it’s so exciting to work with the caliber of professional investors we do here at No More Practice Education. Organisations like Orbis take their duty to the client as an oath, and the rigor and work they put into finding value is intense.
I admire this greatly: it’s a gig very few could fulfil successfully over the long term.
Until next time,
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