Tune in anytime: iTunes – Spotify – Castbox – YouTube
On this episode:
Mary Manning is Portfolio Manager for Ellerston Capital’s Asian and Indian funds.
Mary grew up in Calgary, Canada, but early on she knew she needed to get to New York to pursue her career in finance and investment banking. Driven to succeed, she completed her Commerce degree and got a job at what would become Citi investment bank. From there, she experienced the Asian crisis then relocated to Moscow to experience the Russian Crisis.
Over the years, Mary has worked across the world, while completing her MBA at Harvard and a PhD in Economics in Sydney. She’s worked for Howard Marks at Oaktree and George Soros at Soros Funds Management, among others.
Today, Mary is at the forefront of Asian markets and leads a team of analysts to find the fastest growing companies in Asia. Mary takes us through her process, misconceptions about China and emerging markets, the Indian opportunity and loads more.
Please enjoy this conversation with Mary Manning of Ellerston Capital.
- 0:50 – Intro to Mary, working 100 hours
- 5:20 – Mary goes straight into the Asian Crisis…. then heads over to Moscow for the Russian Crisis. She’s still 22 years old.
- 7:50 – The Harvard MBA.
- 11:50 – Getting a job at Soros and learning how to value a banking share for long and short positions.
- 13:50 – Why Mary doesn’t like developed markets and why she moved to Oaktree from Soros
- 15:20 – An Aussie broker tries for 2 years to get Mary to buy CBA shares. Eventually, she caves in. That broker became her husband.
- 16:20 – Why Mary undertook a PhD in Economics and how she would fix the inequality in developing countries.
- 23:50 – Why does Mary only invest in companies larger than $1 billion?
- 25:30 – How does Mary value shares? Why the PEG ratio is important to her team.
- 27:30 – What will Australian investors miss in China and India? Why the Australian media gives you the wrong impression about China.
- 31:20 – Can I just buy Bellamy’s or Blackmores shares?
- 33:40 – Is Asia really corrupt? Mary’s 20-point checklist.
- 36:00 – What’s wrong with passive investing in Asia?40:00 – How will the Trade War play out?
- 43:00 – Is China’s Great Wall of Debt everything it’s cracked up to be? What can China do about it?
- 47:00 – Which investor has Mary learned the most from and why?
- 48:00 – What would Mary tell her younger self about money and investing?
Learn more about Mary:
- Take Owen’s investing free valuation course!
- Click here for - Owen's free cloud stocks investment report
- Click here for - Owen's investment research (Rask Invest)
Contact Owen: If you have any feedback or advice to share with Owen, you can reach him by clicking here.
New to Rask? Create a free Rask Account
Rask Media: get the latest ASX news and stories
The information on this website and in our podcasts is general financial advice only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please read our Terms & Conditions and Financial Services Guide before using this website.