ILT003 How To Analyse Companies For Long Term Investing with Judith & Rosemary | Part Three

In part three of this six-part series, Judith Mackenzie and Rosemary Banyard share how they analyse companies for long term investing.

• How they go from a universe of thousands of companies to a few hundred and
• How they go from a few hundred companies to a small watch list.
• What they look for in a good company.
• How they analyze company accounts.
• Their views on management and rumination.
• Attending AGMs and discussing what a moat is.
• Red flags to avoid in companies.

This was another great insight into how two seasoned fund managers think and how they view investing for the long term.

Each episode of this six-part series builds on the next as they walk you through an investor's journey. So, If you have ever wondered what a fund manager does, how they think, the types of investments they look for and what led them to pursue careers in finance and investing? Then you’re in the right place, join Judith and Rosemary as they peel back the veil and share their guiding principles and experiences from careers spanning multiple decades in the finance industry as investment fund managers.

Timestamps:

2:05 Rosemary and Judith start right at the beginning; how they go from multiple thousands of companies to just a few hundred to focus on.

9:00 Judith shares what RNS,s (regulatory news services) are and why they are important.

10:40 Rosemary and Judith share how they go from a universe of a few hundred companies to a small watch list.

13:00 Analysing company accounts.

17:15 Discussing what a moat is and how to assess if a company has a moat.

20:50 Looking out for the red flags when analysing companies.

25:10 Discussing the changes Rosemary and Judith have seen over their investing career.

27:45 Attending AGM,s (annual general meetings) of companies.

31:00 Final thoughts on analysing companies from Rosemary and Judith.

33:15 Judith shares her book to read, The Red Notice by Bill Browder.

35:15 Rosemary shares her book to read, Investing for Growth by Terry Smith.

Hope you enjoy this episode and have a wonderful day.

The FYR Team

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Links & Resources: 

Visit Downing Fund Managers here: https://www.downing.co.uk/downing-fund-managers

Follow Dowing on X/Twitter @downingllp: https://twitter.com/downingllp?lang=en

Investors reading and watch list for the long-term investor: https://www.fundyourretirement.com/wp-content/uploads/2023/11/Top-picks-for-a-long-term-investor.pdf

Investing for Growth by Terry Smith: https://www.amazon.co.uk/Investing-Growth-companies-anthology-investment/dp/0857199013

Red Notice by Bill Browder: https://www.amazon.co.uk/Red-Notice-Became-Putins-Enemy/dp/

Visit Fund Your Retirement: https://www.fundyourretirement.com/

Follow FYR on Twitter: https://twitter.com/FRetirement 

Disclaimer: This presentation is for educational purposes only. All opinions and information are for demonstrational purposes and do not constitute investment advice. Trading and investing carries a high level of risk and are not right for everyone. If you need financial advice, consult with a regulated financial adviser in your country before making any decisions.