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Michael Thompson: Investing, economics, politics are more. Are Michael Thompson And Hello

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Michael Thompson: Sean Aylmer. Hello Michael, Sean. We have a question today

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Michael Thompson: that's coming from Peter and he's sent it in via

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Michael Thompson: the website he inter Fearandgreed dot com dot Auwan sends

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Michael Thompson: his question on through there. It's a great one, he says,

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Michael Thompson: I'm enjoying your podcast, A great way of getting information.

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Michael Thompson: Thank you, Peter, must include the flattery, he says, I'm

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Michael Thompson: not much good with social media. However, I do have

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Michael Thompson: a question for ask Fear and Greed. No pressure, of course,

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Michael Thompson: I disagree with you there, Peter. I insist that there'd

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Michael Thompson: be pressure put on seawan Ale to answer this question.

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Michael Thompson: Peter says, given the announcement over the weekend of the

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Michael Thompson: retirement of Warren Buffett, I've often thought, who is Australia's

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Michael Thompson: answer to the oracle? Well, he says, we probably don't

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Michael Thompson: have one. So who is considered to be Australia's greatest

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Michael Thompson: or most successful investor? Investor not business person? He says

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Michael Thompson: he knows of some conglomerates and things like wes Far

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Michael Thompson: and Washington National Pattinson. However, is there an individual and

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Michael Thompson: if so is there one that is considered greater than

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Michael Thompson: all the rest?

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Sean Aylmer: There is no Warren Buffett anywhere else in the world,

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Sean Aylmer: is the short answer to that. We're talking about that

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Sean Aylmer: Warren Buffett, his compound returns annual compound return of twenty

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Sean Aylmer: percent over sixty years is just almost unfathomable. Yeah, it's phenomenal.

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Sean Aylmer: If you look in Australia, there's been a bunch of

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Sean Aylmer: people at different times have sort of been rock star investors.

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Sean Aylmer: In my experience, which doesn't go back sixty years Michaels

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Sean Aylmer: more like twenty five like that, relatively close thanks doing that,

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Sean Aylmer: there were gods like Perpetual had a run of people

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Sean Aylmer: Peter Morgan, John sevy Or who were always seen as

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Sean Aylmer: leading investors. Jeff Wilson who you know, Wilson Asset Management

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Sean Aylmer: in that small, mid size he's been around for a

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Sean Aylmer: long time. Crispin Murriott, Pendall, Anton Taglia, Pharaoh. We've had

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Sean Aylmer: really there's sort of comes to my guy called Chris

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Sean Aylmer: Cuff who was at Clone your first date, very well known,

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Sean Aylmer: Hamish Douglas who was at Platinum ker Nielsen. But none

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Sean Aylmer: of them really get anywhere near the Warren Buffet status.

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Sean Aylmer: And in fact, most of them look up to Warren

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Sean Aylmer: Baffort like that's the goal they want to get to.

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Michael Thompson: Because a lot of them they don't have. They just

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Michael Thompson: don't have the years for one thing, in terms of

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Michael Thompson: sixty years of that level of success.

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Sean Aylmer: Right yeah, And I mean I suppose the equivalent now

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Sean Aylmer: you'd have to think of the like Ossie Super. The

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Sean Aylmer: chief investment officer is a guy called Mark Delaney. I

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Sean Aylmer: think Mark's all that he kind of runs a massive fund,

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Sean Aylmer: so like in terms of size, I suppose he would

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Sean Aylmer: be and he's nothing. I mean, Ossie Super is way

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Sean Aylmer: way smaller than Berkshire Hathway. But I suppose you talk

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Sean Aylmer: about those guys with responsibility similar to what Berkshire Hathaway has.

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Sean Aylmer: But I don't think anyone can be compared. Like if

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Sean Aylmer: you think of Wes Farmers and WPT soul Pats. So

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Sean Aylmer: it's actually called sol Pats Now I'm not Washington Pattinson.

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Sean Aylmer: They've changed their name to sol Pats, Where's and soul Pats.

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Sean Aylmer: They've done really well, but they haven't had one manager

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Sean Aylmer: the whole way through. Now soul Pats talks about you know,

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Sean Aylmer: it was created in nineteen oh three, has never missed

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Sean Aylmer: a dividend literally, World wars, global financial crisis. COVID never

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Sean Aylmer: missed a dividend, has increased its dividend every year since

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Sean Aylmer: two thousand and Soul Pats is a bunch of like

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Sean Aylmer: a conglomerate of companies. It's share price went from about

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Sean Aylmer: four bucks, was less than that about three bucks eighty

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Sean Aylmer: in two thousand. Today it's about thirty seven bucks, so

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Sean Aylmer: it's kind of ten times what it was twenty five

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Sean Aylmer: years ago. Really successful company, but still nothing like the

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Sean Aylmer: League of Berkshire.

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Michael Thompson: Have I what about then, like some of the VC

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Michael Thompson: funds in Australia or people like say Daniel Petrie and

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Michael Thompson: others who have had these long runs of business and

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Michael Thompson: success and then moved into investing and then had a

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Michael Thompson: run of picking companies that are going to boom and

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Michael Thompson: getting in early. Can we put them into that that

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Michael Thompson: kind of category as well, like people that have invested

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Michael Thompson: in the likes of Canvas early on.

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Sean Aylmer: Maybe, but you don't know. You only hear about the

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Sean Aylmer: good stuff, not the bad stuff.

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Michael Thompson: That's a very good point.

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Sean Aylmer: There's a lack of transparency. The thing about bergshiy Hathaway,

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Sean Aylmer: it's got a share price, we've seen what it's done

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Sean Aylmer: year in, year year out. Daniel Petrie undoubtedly has invested

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Sean Aylmer: in some great companies, but we just don't have transparency

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Sean Aylmer: around yeah what they've lost. So there is only one

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Sean Aylmer: Warren Buffett.

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Michael Thompson: Yeah, and judging by the fact that we are debating,

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Michael Thompson: like all of these other names, and there isn't just

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Michael Thompson: one standout person as there is in the US with

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Michael Thompson: Warren Buffer has this celebrity.

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Sean Aylmer: I suppose the closest thing you can come here is

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Sean Aylmer: check out longevity. So people who have been successful in

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Sean Aylmer: the market for twenty five or thirty years obfully obviously

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Sean Aylmer: has a system that works.

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Michael Thompson: Okay, that's a good one.

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Sean Aylmer: That's a great question.

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Michael Thompson: That's a that's one, and it's the kind of one

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Michael Thompson: that you could debate with your friends.

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Sean Aylmer: I mean, what it shows is just how incredible one

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Sean Aylmer: Buffett is.

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Michael Thompson: Yeah, it's pretty remarkable. Right. Can you imagine having that

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Michael Thompson: amount of celebrity in their space where just people he

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Michael Thompson: has disciples, just people who follow every word that he says.

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Sean Aylmer: And he's very sort of I don't know where the

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Sean Aylmer: modest is the right word, but he lives a modest lifestyle.

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Sean Aylmer: And so it was the sixtieth anniversary of the and

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Sean Aylmer: your shareholder meeting in Omaha, Nebraska, and you go there

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Sean Aylmer: and it's not flash. We're not talking four seasons here,

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Sean Aylmer: We're talking Omaha, Nebraska. I don't know that he still

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Sean Aylmer: did it, but he and Bill Gates used to go

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Sean Aylmer: to his favorite steak house after the meeting when like

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Sean Aylmer: I was there. This is quite a few years ago.

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Sean Aylmer: I was there and he told this sory. The night

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Sean Aylmer: before he and Bill had Gates had gone out to

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Sean Aylmer: the steakhouse ahead of the meeting, which was unusual, and

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Sean Aylmer: they needed to get home and there were no cabs.

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Sean Aylmer: This is pre uber There were no caves. And they

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Sean Aylmer: were laughing because the two richest men in the world

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Sean Aylmer: were sitting on the side of the road, were standing

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Sean Aylmer: on the side of the road outside of the steakhouse

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Sean Aylmer: trying to hail a cab, and no one was stopping

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Sean Aylmer: for him.

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Michael Thompson: That is fantastic. All right, Thank you very much Peter

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Michael Thompson: for the question, and thank you Sean for answering it.

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Sean Aylmer: Thank you Peter, and thank you Michael. I.

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Michael Thompson: Remember, if you've got something that you'd like to know,

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Michael Thompson: then send it through. Do what Peter did. Go to

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Michael Thompson: Fear and Greed dot com. Dot a, you pop your

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Michael Thompson: question in or headlong to LinkedIn, Instagram, Facebook, any of

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Michael Thompson: the social media platforms. Really and we will get it

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Michael Thompson: and we will answer it. I'm Michael Thompson and this

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Michael Thompson: is ask Bear and great