Aoris Investment Management’s Post

The below Fundie Q&A provides a great insight into the Aoris process. -Why we only own one of the Magnificent Seven -Current US earnings season and how it impacts our portfolio -Where we are seeing value

This excellent article was written last year about the scandal that has misrepresented the costs of UK listed #investmenttrusts and #REITs Investors do NOT pay the costs of managing these companies directly - the costs are all disclosed in the usual corporate reporting and other documents can highlight them too, but if they are trading at big discounts, the management fees are not what investors need to know about. @theFCA and @HMTreasury have told the market the current situation is wrong, but why haven't all the retail platforms changed their investor information to reflect reality? They are breaking Consumer Duty rules and investors, good companies, UK markets and growth are all losing out. This must change now. https://lnkd.in/e5Wkq-E4

Business isn't just about who you know. It's about who you don't. Our research tells us that more than a quarter of UK SMEs need more help to find the partners that can support them as they look to enter a new market. At Santander UK Corporate & Commercial our campaigns have been focused on the importance of “connections” in helping businesses achieve their growth ambitions. Whilst Brian Cox isn't out on our TV screens this time round, this new iteration continues the theme, but focuses much more on our people. It is they who connect our clients to the people they need to know, wherever they are across our global network. We’ve already connected over 500 businesses this year with the international support they need, just like Ant & Dec (although maybe not the Ant & Dec you were expecting...) Growing your business internationally has never been simpler. Find out more: https://lnkd.in/eC_uAMju Big thanks to the teams involved Tim Hinton John Baldwin John Carroll Wes Haughton Sharon Yapp Tina Boyle Daniel Creed MELISSA NOAKES jules kimbell Samantha Westwood Jane Galvin Mandeep D. Sarah R. Lia Carvetta Anna Keevil Akansha Jain Andrew Embleton

🇬🇧 "Britain to fast-track biggest company listings shake-up in decades - Reuters" 📈 Exciting news! 🌟 Britain is streamlining its process for companies to go public, making it faster and more flexible. This move aims to boost London's listing regime and attract more companies to the UK market. It's a major shake-up that opens doors for businesses and investors alike. The changes will enhance the country's competitiveness and reinforce its position as a global financial hub. What are your thoughts on this development? 💬 #UKMarket #LondonListing #FinancialHub https://ift.tt/dVyLTx7

The biggest financial loss of my life happened in 2008. What did I learn? In about the early-2000s I invested about $10,000 in shares of a great Australian company. This was a fantastic business. It was growing fast and highly profitable. Over a period of a couple of a few years, that $10,000 investment grew to about $40,000. I thought I was the smartest investor ever! 🎉 But then, the founder decided he was going to conquer the world. The company took on massive amounts of debt and additional equity and expanded overseas. It wasn't long before the company went to zero and so did my shares. What I saw, but ignored, was the lifestyle of the founder. They were flashy - cars - jets - a sporting team etc etc. They were more concerned with flexing than being prudent with their and my money. What they seemed to miss in their plan to dominate the world was that Australia's system of government subsidisation of this particular industry was (1) almost unique in the world and (2) was what allowed the company to grow so fast and profitably in Australia. The founder's ego took a great Australian company and put it to the wall. 🤦♂️ So what expensive lessons did I learn? First, when investing, don't just look at the company, look at the person/people running the company. Look at their character. Are they prudent or are they flashy? Are they planning growth that is good in the long-term for the company, shareholders and employees or are they planning growth to feed their insatiable ego? Are they generally an as@ho!e? That's an important one! Second, it's okay to take your profits while you can sometimes. Yeah, I probably would have paid some tax on my profits, but in this case 70% of $30,000 plus my $10,000 back would have been better than 100% of $0. How about you? Have you had a financial loss that really taught you a valuable/expensive lesson? What did you learn? Next week, I'll tell you about the valuable lesson I learned about basing a business on a fad when I was just 12 years old. [Obligatory lawyers disclaimer 🙄: I'm not a financial or investment advisor and this isn't financial or investment advice.] #pointyendofhr #humanresources #employmentlaw #gettingbeyondhesaidshesaid

According to recent findings, 1 in 5 Americans now qualifies as an accredited investor, gaining access to the private market traditionally dominated by pension funds and endowments. Wealthy individuals are increasingly venturing into this territory, but with higher fees, limited liquidity, complex strategies, and less public information, the question arises: would you consider taking the plunge? Drawing from my experience in investing in the private market in China, I have adhered to key principles such as meticulously selecting the platform, assessing the investment proportion, and closely examining fee and return arrangements. Currently, I am delving into similar opportunities in the U.S. If this piques your interest, I welcome the opportunity to engage in further discussions! https://lnkd.in/exEJkmCm

The biggest financial loss of my life happened in 2008. What did I learn? In about the early-2000s I invested about $10,000 in shares of a great Australian company. This was a fantastic business. It was growing fast and highly profitable. Over a period of a few years, that $10,000 investment grew to about $40,000. I thought I was the smartest investor ever! 🎉 But then, the founder decided he was going to conquer the world. The company took on massive amounts of debt and additional equity and expanded overseas. It wasn't long before the company went to zero and so did my shares. What I saw, but ignored, was the lifestyle of the founders. They were flashy - cars - jets - a sporting team, etc etc. They were more concerned with flexing than being prudent with their and my money. What they seemed to miss in their plan to dominate the world was that Australia's system of government subsidisation of this particular industry was (1) almost unique in the world and (2) was what allowed the company to grow so fast and profitably in Australia. The founder's ego took a great Australian company and put it to the wall. 🤦♂️ So what expensive lessons did I learn? First, when investing, don't just look at the company, look at the person/people running the company.  Look at their character. Are they prudent or are they flashy? Are they planning growth that is good in the long-term for the company, shareholders and employees or are they planning growth to feed their insatiable ego? Are they generally an as@ho!e?  That's an important one! Second, it's okay to take your profits while you can sometimes.  Yeah, I probably would have paid some tax on my profits, but in this case 70% of $30,000 plus my $10,000 back would have been better than 100% of $0. How about you?  Have you had a financial loss that really taught you a valuable/expensive lesson?  What did you learn? [Obligatory lawyers disclaimer 🙄:  I'm not a financial or investment advisor and this isn't financial or investment advice.] #pointyendofhr #humanresources #employmentlaw #gettingbeyondhesaidshesaid

Thursday 21 March 2024: Good morning! It’s FinQuiz time 🐝 Know your finance history? Share your answers in the comments below 👇👇 ✨ What’s Brewing? Daily UK capital markets news in a dash: Another busy reporting day with at least 15 companies announcing final results today, including: Aquis Exchange Limited (AQX), Centamin PLC (CEY), DIRECT LINE INSURANCE GROUP PLC (DLG), M&G plc (MNG), and NEXT PLC (NXT). There are at least three AGMs taking place: Athelney Trust Plc Trust (ATY), Banco Santander S/A (BNC), and Pressure Technologies plc (PRES). 📘 EdCit Weekly: From Savings to Investments - The NI Cut's Role in Shaping UK's Economic Future The 2p National Insurance cut isn't just a tax relief; it's a potential catalyst for economic growth. How can individual investors play a part in this new financial era? Delve into the implications for personal finance and the broader UK economy. Read about the economic impact here https://shorturl.at/byJLV 🎤 AxC: Powering the arts with finance and investing insights. This week’s Art and the City podcast features Dr. Sabine Dembkowski, Founder & CEO of Better Boards Ltd., whose mission is quite simply to facilitate better board evaluation. She has a PHD in Business and Management and over 20 years of experience in advisory positions. In the podcast, we get an opportunity to hear Sabine’s thoughts on why boards are “challenged like never before.” Listen on Spotify https://shorturl.at/acop5 and visit artxcity.org. #EconomicGrowth #UKInvestments #PersonalFinance #FinGlitzFirst #MorningFinanceFix #TEAForGenZ #FinancialLiteracyUnleashed #ukcapitalmarkets #ukstockmarket #finlit #budget #investing #personaldevelopment #personalfinance #individualinvesting

I seem to be seeing a lot of founders/entrepreneurs in the UK bemoaning that the UK might (but probably won't) increase capital gains tax from 20% to 39%. They are all selflessly and sincerely concerned about the country's competitive environment and about job creation. This is in no way a self-serving way to say "I don't want to pay more tax." (Yeah, right.) But here's the thing... The arguments that this is somehow economically suicidal because it will drive people seeking large exits to leave the UK seems to be based on two assumptions. (1) That the only reason that you're founding a company is because, like Del Boy, this time next year we'll all be millionaires! (2) You, or your FD /accountant / advisors, lack the brains to put strategies in place to extract value elsewise. Now, given that assumption 2 is bogus (never underestimate the intelligence of senior finance folks!), we can focus on assumption 1, and wonder if, actually, there would be a very positive side-effect here. If an increase in capital gains makes it relatively less attractive to ride the hype curve to a swift exit by selling bundles of lies to the greater fools, then necessarily it becomes relatively more attractive to build a business which generates sustainable long-term profits - maybe by, say, selling genuinely useful products to business or consumers who actually benefit from them? (Remember when companies aimed to do that? Ah, the good old days!) Sure, I personally am likely to benefit from the rate staying low. But politics isn't about what suits me, and I don't have to pretend that my selfishness is somehow me caring about the public good. And I could certainly get behind a policy which makes it more attractive to build genuinely useful, profitable products and businesses.

Aspectus Group's Timothy Focas looks at the lamentable lack of stewardship by investors in UK PLC. But I'm not convinced that the US model is the panacea he suggests. There are flaws there, too, and short-termism abounds. The issue here is more fundamental. We have forgotten that shareholders are an integral component of the governance structure, that boards of directors fulfill an agency role, and that shareholder rights (and associated responsibilities), most often exercised through the AGM process, are the fundamental checks and balances over that agency function. The issue has been compounded by the widespread development of nominee shareholding arrangements in the UK, which have effectively disintermediated individual shareholders, turning them into the passive owners Tim describes. We are sitting on a generational opportunity to address this. The Flint Review, mandated by the UK Treasury, has both the terms of reference and the political power to turn back the clock and reconnect UK companies and their shareholders as intended in the (prescient) Companies Act 2006. But will Douglas Flint and Mark Austin grasp the nettle? We wait with bated breath the final report....