Finding opportunities in well-known names with Ryan Joyce
4/9/202642 min
Bryce and Alec sit down with Magellan Investment Partners’ Ryan Joyce to unpack why some of the best opportunities can be found in the world’s biggest, most familiar companies. From TSMC and Booking Holdings to Dollar General and Apple, this is a masterclass in quality, patience, valuation discipline and the power of backing businesses with durable moats.
In this episode:
00:00 – Why the best investments can be hiding in plain sight
01:37 – Ryan Joyce’s first investing lessons: Orsenko and realestate.com
04:08 – Magellan’s philosophy: quality, concentration and valuation discipline
07:18 – Why big, well-known stocks still get mispriced
10:57 – Finding an edge when everyone has the same information
17:01 – Portfolio balance, volatility and stock selection
18:38 – TSMC, Dollar General and Booking Holdings: three stock case studies
38:14 – Apple, investing resources and Ryan’s advice for young investors
ETFs & Stocks mentioned:
Magellan Global Opportunities Fund (ASX: OPPT), REA Group (ASX: REA), Netflix (NASDAQ: NFLX), Mastercard (NYSE: MA), Taiwan Semiconductor Manufacturing Company (NYSE: TSM), NVIDIA (NASDAQ: NVDA), Broadcom (NASDAQ: AVGO), AMD (NASDAQ: AMD), Marvell Technology (NASDAQ: MRVL), Arm Holdings (NASDAQ: ARM), Intel (NASDAQ: INTC), Samsung Electronics, Dollar General (NYSE: DG), Dollar Tree (NASDAQ: DLTR), Walmart (NYSE: WMT), Amazon (NASDAQ: AMZN), Booking Holdings (NASDAQ: BKNG), Apple (NASDAQ: AAPL), Qualcomm (NASDAQ: QCOM)
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Clips
Transcript preview
First 90 secondsAlec Renehan· Host0:00
[digital tone] Everything you're about to hear is for education and entertainment purposes only. Whilst we are licensed, we're not aware of your personal financial circumstances. Any advice is general advice. Equity Mates operates under Australian Financial Services License 540697.
Bryce Leske· Host0:15
[upbeat music] You don't need to find undiscovered gems to be a great investor. In fact, some of the best investments are staring us in the face, in our pockets, or in our homes. Equity Mates. Welcome to Equity Mates, a show where we explore what's possible in the world of investing. If you've just joined us for the first time, a huge welcome to our community. My name is Bryce, and as always, I'm joined by my equity buddy, Ren. How are you going?
Alec Renehan· Host0:37
I'm very good, Bryce. Very excited for this episode. Excited for how you've set it up as well, because I think it's a common thought that a lot of investors, particularly new investors, have that investing is about discovering that unknown name, that small cap that, uh, has, you know, huge growth potential. But I think what we've learned over the past 10 years of doing Equity Mates is that the big names can grow a lot, and sometimes the most obvious investments that have been staring us in the face we have missed because we thought they were too obvious.
Bryce Leske· Host1:08
Mm.
Alec Renehan· Host1:08
So we're excited to unpack how we can find the best opportunities in the big names, and we're gonna s- shortly be joined by Ryan Joyce, who's the deputy portfolio manager at Magellan Investment Partners, to unpack it all.
Bryce Leske· Host1:22
Now, before we welcome Ryan, we want to say a massive thank you to Magellan for partnering with us and sponsoring today's episode. If you'd like to find out more about the