Joe Magyer – Compound

Tune in anytime: iTunes – Spotify – Castbox – YouTube 

On this episode:

My guest for this episode is a very special one for The Australian Investors Podcast and for Owen.

Joe Magyer is the Chief Investment Officer of Lakehouse Capital. Lakehouse is part of The Motley Fool Australia, which is where I met Joe many years ago. To my mind, Joe is at the cutting edge of what it means to be a value investor in modern times.

In this conversation, Joe describes his three fascinations in great detail, how he structures his team, valuation and loads more, including his favourite coffee spots in and around Melbourne and Sydney.

Please enjoy this episode of The Australian Investors Podcast.

Timestamps:

  • 1:30 – Intro to Joe, building a Lakehouse, Joe’s weird and wonderful 13th birthday present
  • 3:20 – Joe’s intro to The Motley Fool
  • 4:50 – First job out of undergraduate in investment banking, but it wasn’t Joe’s passion
  • 6:15 – Joe’s first gig at The Motley Fool
  • 10:00 – Who influenced Joe and where did his unique angle on value investing come from?
  • 13:45 – Ebay at 26x earnings and why Joe’s newsletter was #1 over five years
  • 16:00 – Why Australia?
  • 19:00 – Early learnings managing money and starting Lakehouse Capital
  • 24:00 – Building teams and Joe’s 3 “fascinations” – Loyalty, Networks & IP
  • 30:45 – Joe on the spirit of value investing, and growth versus value
  • 35:00 – Valuation and model traps
  • 36:00 – downside risk and managing it at the stock level
  • 37:03 – price versus value and “optionality” – “in the money” and “out of the money”
  • 37:30 – Joe’s “fascination” with “loyalty” — not retention
  • 43:00 – 1 trick to finding companies with optionality — and Joe still rents!
  • 46:00 – How does Joe think about risk and is Australia facing a recession?
  • 54:00 – Joe’s favourite books
  • 56:30 – Joe’s TOP coffee and food spots, Melbourne and Sydney
  • 58:00 – What Joe would tell his kids about investing

Learn more about Joe: 

Browse all podcast episodes

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.

Share this episode:

Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on whatsapp
Search finance answers:
Generic filters

Like our podcast?
Get Owen’s weekly newsletter.

Like our podcast? Get Owen's weekly newsletter.

Want to level-up your analytical skills and investing insights but don’t know where to start? We can help. Join 25,000 Australian investors on our mailing list today and we’ll send you our favourite podcasts, courses, resources, investment articles and podcasts every week. Delivered to your inbox every Sunday morning. Grab a coffee and let Owen and the team bring you the best investment insights every week.

arrow-03

Rask Rockets 2021 is coming

Our Biggest Launch In The History Of The Rask Rockets Program

Rask analysts are counting down to the launch of Australia’s premier small-cap investor program, Rask Rockets 2021.

To register your interest, and also get a chance to join Rask Rockets 2020 today, please enter your email address below.

Like our podcast?
Get Owen's weekly newsletter.

Want to level-up your analytical skills and investing insights but don’t know where to start?
We can help.
Join 25,000 Australian investors on our mailing list today and we’ll send you our favourite podcasts, courses, resources, investment articles and podcasts every week. Delivered to your inbox every Sunday morning. Grab a coffee and let Owen and the team bring you the best investment insights every week.

Join the short list

Make sure you keep an eye on your email, we will be in touch soon.