i3 Podcast Ep 15: Alex Waislitz

 

My guest for this episode, Alex Waislitz, compounded a $1.15 million loan from relatives into a $1.39 billion-dollar fortune in 25 years!

He is the founder and Chairman of Thorney Investment Group, one of Australia’s most successful private investment groups. Alex has “a very particular set of skills”, including expertise in micro cap investing, activist investing and investing in technology companies.

We go right back to the start and dissects how he went about creating his wealth.

We also chat about mentors such as Robert Holmes a Court and Richard Pratt as well as some of the infamous rouges that Alex has encountered over the years, such as Alan Bond and Christopher Skase.

Perhaps the most important lesson for me was hearing Alex explain the value of persistence.

Overview:

3:00 Receiving my first dividend cheque
6:00 Keep your alternative options alive
9:00 Lessons learned from Richard Pratt
14:00 I like the business of business
16:00 If you dream big, you achieve big.
18:00 Turning $1 million into $4 million
21:45 Constructivism; being activist in a non-hostile way
26:30 What is your investment philosophy?
34:30 Determining position sizes.
37:30 Many fund managers cut their profits too early
46:00 Not all small cap companies are inherently risky
48:00 Capacity in a micro cap strategy
50:30 Fairfax and activist investing
54:15 Future of traditional media
57:00 Tailor-made newspapers
1:00:30 Investing in the future is not for everyone
1:02:00 Disruption has never been easier
1:06:00 Facebook and privacy on the internet
1:07:30 What advice would you give startups looking for capital?
1:10:00 Best and worst investments
1:16:30 The luck factor

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