- 2023
- 2022
- 2021
- 2020
- 2019
- 2018
- 2017
- 2016
- 2015
- 2014
- 2013
- 2012
- 2011
- 2010
- 2009
- 2008
- 2007
- 2006
- 2005
- 2004
- 2003
- 2002
- 2001
- 2000
2015 Q3
SA mining and the sunk cost fallacy
Ian Liddle discusses why the challenges in South African mining provide an interesting case study of the 'sunk cost fallacy', a behavioural bias that sees us...
Investing in Africa defies a simple narrative
Our Equity, Balanced and Stable Funds are allowed to invest up to 5% in Africa outside of South Africa. Some investors may choose to invest directly into...
Contrarian investing and different performance
The valuation-based approach to investing used by Allan Gray and our offshore partner Orbis is often contrarian since the shares that are most attractively...
Valuation dispersion and opportunities to beat the market in Australia
Cyclicality and dispersion in valuations can create great opportunities to buy shares at very attractive prices in companies that are out of favour with the...
Commitment counts
There will always be ups and downs in the markets as much as in life. To deliver great long-term investment performance we believe a fund manager needs to...
What is outperformance?
While the dictionary definition of outperformance is simple, the complexity starts when we want to understand it in the context of our investments, as we are...
2015 Q3 Comments from the Chief Operating Officer
When you buy a share you invest what the current owner is willing to sell it for. As the share's new owner, your returns come from a stream of dividends...