In this episode we discuss our recent visit to the headquarters of Cintas in Cincinnati, a company we own, whose strong corporate culture has contributed to its 95% client retention rate and strong growth. Cintas is America’s largest uniform rental company. For around $1.50 per worker per day Cintas’ will collect, clean and replace uniforms for organisations in industries such as lodging, entertainment, manufacturing and healthcare.
In this episode James and Stephen discuss the key reasons why local market real Earnings Per Share (EPS) growth has fallen so far short of GDP growth in emerging markets over the last decade. It’s counterintuitive, but GDP growth does not drive EPS growth in the way most people think.
In this episode we discuss the headlines over the last decade which left investors spooked and why the over-arching lesson is to stay the course.
In our first episode we discuss Kraft Heinz shares falling to a record low and concerns that years of cost-cutting have deteriorated the value of its household brand names.
"We believe the discount to fair value across our portfolio is somewhat larger today, which adds to the revaluation component of our expected return."
"We believe the discount to fair value across our portfolio is somewhat larger today, which adds to the revaluation component of our expected return."
Stephen Arnold was one of 12 investors from around the world featured in the April edition of Value Investor Insight, titled Investing in Crisis. Other investors featured include James Montier (GMO), Mason Hawkins (Southeastern Asset Management), Bill Nygren (Harris Associates), Rob Arnott (Research Affiliates), Brian Kersmanc (GQG Partners), Peter Keefe (Avenir Corporation), and Chuck Akre (Akre Capital Management). With special permission of the publisher, the full issue is available to you.
Stephen Arnold was one of 12 investors from around the world featured in the April edition of Value Investor Insight, titled Investing in Crisis. Other investors featured include James Montier (GMO), Mason Hawkins (Southeastern Asset Management), Bill Nygren (Harris Associates), Rob Arnott (Research Affiliates), Brian Kersmanc (GQG Partners), Peter Keefe (Avenir Corporation), and Chuck Akre (Akre Capital Management). With special permission of the publisher, the full issue is available to you.
Stephen discusses the COVID-19 pandemic and four key strengths to consider when evaluating business endurance through a downturn.
Stephen discusses the COVID-19 pandemic and four key strengths to consider when evaluating business endurance through a downturn.
Stephen sat down with AFL Legend and Investor Chris Judd to discuss Aoris and what makes the company tick.
Stephen sat down with AFL Legend and Investor Chris Judd to discuss Aoris and what makes the company tick.
Stephen featured in Chris Judd's "Talk Ya Book" podcast discussing the Aoris portfolio and in particular a portfolio stock , Cintas Corporation.
Stephen featured in Chris Judd's "Talk Ya Book" podcast discussing the Aoris portfolio and in particular a portfolio stock , Cintas Corporation.
If you own an equity, you are a part owner of a business. The value of what you own is a function of its income into perpetuity. If you don’t lose sight of this you will make better decisions and keep your head while others lose theirs.
If you own an equity, you are a part owner of a business. The value of what you own is a function of its income into perpetuity. If you don’t lose sight of this you will make better decisions and keep your head while others lose theirs.
Aoris was featured by The Australian Financial Review Chanticleer as the top-performing international equities value fund for the 2019 calendar year.
Aoris was featured by The Australian Financial Review Chanticleer as the top-performing international equities value fund for the 2019 calendar year.
In an column for today’s The Australian Financial Review, Aoris Senior Analyst Swati Reddy discussed how the Aoris International Fund delivered 22.3% in the year to June 2019 and significantly outperformed the market with no FAANGs.
In an column for today’s The Australian Financial Review, Aoris Senior Analyst Swati Reddy discussed how the Aoris International Fund delivered 22.3% in the year to June 2019 and significantly outperformed the market with no FAANGs.
In the eyes of many investors the FAANGs operate in ‘winner-takes’-all’ markets and the winner has already been decided.They are all spending vast amounts of money trying to create their ‘next big thing’ but the chance of recreating past success is lower than many believe.
In the eyes of many investors the FAANGs operate in ‘winner-takes’-all’ markets and the winner has already been decided.They are all spending vast amounts of money trying to create their ‘next big thing’ but the chance of recreating past success is lower than many believe.
San Franciso's Bay Area might be the home of some of the world's richest companies, but fund manager Stephen Arnold's internal compass leads him faithfully to America's midwest where he is more comfortable walking the factory floor with the CEO of Graco.
San Franciso's Bay Area might be the home of some of the world's richest companies, but fund manager Stephen Arnold's internal compass leads him faithfully to America's midwest where he is more comfortable walking the factory floor with the CEO of Graco.
Alan Kohler spoke to Stephen to find out more about how Aoris go about investing internationally and their approach to environmental, social and governance investing.
Alan Kohler spoke to Stephen to find out more about how Aoris go about investing internationally and their approach to environmental, social and governance investing.
Stephen Arnold from Aoris Investment Management explains to Informed Investor his firm’s preference for proven and established businesses over the new hot stock on the block.
Stephen Arnold from Aoris Investment Management explains to Informed Investor his firm’s preference for proven and established businesses over the new hot stock on the block.
Utilities are often seen as defensive investments. Stephen outlines four reasons why they often fall short in this regard
Utilities are often seen as defensive investments. Stephen outlines four reasons why they often fall short in this regard
Stephen outlined in this article why it is extremely difficult to add value through market timing.
Stephen outlined in this article why it is extremely difficult to add value through market timing.
Stephen outlined some of the many fine attributes of Compass Group in this article.
Stephen outlined some of the many fine attributes of Compass Group in this article.
In this article we show that the truly exceptional businesses defy the gravitational pull of reversion to the mean.
In this article we show that the truly exceptional businesses defy the gravitational pull of reversion to the mean.
In this wide-ranging interview Alan Kohler spoke to Stephen about setting up Aoris, the types of companies we avoid, the many characteristics we look for in our investments and how we find the companies that end up in our portfolio.
In this wide-ranging interview Alan Kohler spoke to Stephen about setting up Aoris, the types of companies we avoid, the many characteristics we look for in our investments and how we find the companies that end up in our portfolio.
Stephen has published an article on Livewire looking at the distribution of stock returns over time. The article draws on 90 years of US data.
Stephen has published an article on Livewire looking at the distribution of stock returns over time. The article draws on 90 years of US data.
