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Articles tagged as "Orbis"

The year of payback

By Duncan Artus on 15 Feb 2019

Excess returns from the FTSE/JSE All Share Index (ALSI) relative to cash have disappointed over the last five years, with cash now outperforming, on average....

The upside of down markets

By Andrew Lapping on 11 Jan 2019

2018 was not a good year for investors with price declines in many asset classes. The FTSE/JSE All Share Index (ALSI) fell 8.5% in 2018, or 21% when measured...

The role of currency when investing offshore

By Dan Brocklebank on 09 Nov 2018

If you buy a share in your local market, assessing your performance is easy. If the price goes up, you make money. If you buy shares in other markets, howeve...

Orbis: Think like a business owner

By Rob Perrone on 02 Nov 2018

Say you own a small stake in a company. Every day, one of your partners tells you what he thinks the business is worth, and he offers to buy your stake or se...

What is a good offshore strategy?

By Dan Brocklebank and Tamryn Lamb on 23 Oct 2018

Novice and experienced investors often ask the same question time and again: When is the best time to invest offshore?

Offshore investing: Not a popularity contest

By Dan Brocklebank on 10 Aug 2018

There is no such thing as a ‘popular investment opportunity’. If it’s popular, then that popularity will already be reflected in the price you have to pay. A...

Tech stocks: Is history repeating itself?

By Ben Preston on 20 Jul 2017

To cut through the suspense, let me admit up front that I’m not going to answer the question directly: we don’t find it productive to spend a lot of time...

Key buckets of opportunities

By Tamryn Lamb on 29 Jun 2017

In our search for undervalued assets we have found companies that fit into five categories...

How to pick offshore investments for long-term wealth creation

By Matthew Spencer on 19 Jun 2017

Living in South Africa, or even as a South African living abroad, it’s easy to become completely sucked into the news about our country...

Orbis: Two myths about emerging market equities

By Graeme Shaw on 15 Jun 2017

At the end of 2015, emerging market (EM) shares had meaningfully underperformed developed market (DM) shares over the previous five years...

Beware the siren song of growth

By Dan Brocklebank on 03 Mar 2017

Growth has an almost irresistible allure for investors. Whether it’s a rapidly growing economy, a start-up with a hot new product, or a new industry that...

Keep calm and carry on investing

By Andrew Lapping on 17 Jan 2017

The past 12 months seem to have passed particularly swiftly, maybe because fundamentally very little changed. Interestingly, the light in which investors vie...

Protect your buying power by investing offshore

By Richard Carter on 30 Dec 2016

We are all fixated on the rand-dollar exchange rate and what it will do next, but does it really affect our day-to-day? And what can you do about it? Listen ...

Orbis: We welcome the rise of passive investing

By Ben Preston and Rob Perrone on 11 Nov 2016

The Wall Street Journal ran a series this month commemorating the rise of passive investing. The articles make ‘the case for the triumph of passive’, calling...

Orbis: Not just looking for cheap stocks

By Jeremie Teboul on 07 Oct 2016

Our investment approach, which we share with our offshore partner Orbis, is sometimes characterised as ‘looking for cheap stocks’. Jeremie Teboul from Orbis...

Playing a loser's game

By William Gray on 31 Mar 2016

The loser’s game isn’t especially fun to play, but it is a winning strategy for those who have the discipline and the patience for it. William Gray, from our...

What do low global bond yields mean for South African investors?

By Ian Liddle on 28 Jan 2015

Adapted from the Chief Investment Officer’s comments, which will appear in the Allan Gray Unit Trust Annual Report, 2014. More than half of global government...

Orbis funds: Finding the best long-term value for clients

By Seema Dala on 30 Sep 2014

The Orbis Global Equity Fund will mark its 25th year at the end of December. In that time, Orbis has provided access to the same fundamental, contrarian,...

Introducing the Orbis Global Balanced Fund

By Tamryn Lamb on 22 May 2014

Like Allan Gray, Orbis has a limited range of funds which it believes addresses the needs of most investors. New funds are only introduced after very careful...

Orbis Global Equity Fund: A reversal of fortunes

By Seema Dala on 30 Sep 2013

After a prolonged period of relative underperformance, since January this year the Orbis Global Equity Fund has meaningfully outpaced its benchmark in US...

Do not confuse stability with safety

By Ben Preston on 30 Jun 2013

According to Ben Preston, from our offshore partner Orbis, Orbis and Allan Gray's strict adherence to our bottom-up research process keeps us focused on...

Investing offshore to reduce portfolio risk

By Seema Dala on 31 Mar 2013

Five years on from the start of the Global Financial Crisis, as economic uncertainty continues across the world, investors remain sceptical about exposing...

Drilling into the detail of oil and gas investments

By Dan Brocklebank on 31 Dec 2012

At first glance, the Orbis Global Equity Fund's exposure to Oil & Gas; Gas stocks appears to be similar to that of its benchmark. At December 2012, about 9% ...

A healthy approach

By Seema Dala and Tamryn Lamb on 30 Sep 2012

Broadly speaking, one could think about building a portfolio in two key ways. Investors with a 'top-down' approach start with a wide view of the world and ma...

Investing: a history of bubbles

By Jonathan Brodie on 30 Jun 2012

'Invest in stocks? Forget about it.' - USA Today headline, 8 May 2012. As contrarian investors, we cannot help but take notice when one of the most widely re...

The trend is your friend till it bends at the end

By Duncan Artus on 24 May 2012

For some time we have been concerned about the sustainability and unbalanced nature of consumption growth in South Africa. I don’t believe you can consume,...

Things you can control, and things you cannot

By Trevor Black and Jonathan Brodie on 31 Dec 2011

In this current very uncertain world, we cannot begin to control or predict political or economic outcomes. But we can control what shares we buy and we are...

Japan: economic pessimism creates buying opportunities

By Trevor Black and Ben Preston on 30 Jun 2011

As bottom-up stock pickers, we believe that great investment opportunities can be found in even the most challenging conditions. Japan is a perfect example....

Responding to challenging times

By Henry Allen and Trevor Black on 31 Dec 2010

Performance does not come in a straight line, which means that periods of long-term outperformance will always be accompanied by periods of, sometimes...

Foreign exposure in the Allan Gray Stable Fund

By Ian Liddle and Mahesh Cooper on 31 Dec 2010

The long-term track record of the Allan Gray Stable Fund shows returns well ahead of its benchmark and satisfactory capital stability. Nevertheless, the Fund...

When is bad news good news?

By Chris du Toit and Tamryn Lamb on 30 Sep 2010

As contrarian investors we are always on the lookout for shares that we can buy at a significantly lower price than we believe they are worth. Thus, with ban...

The story is in the stocks

By Jonathan Brodie and Trevor Black on 30 Jun 2010

Investors who give their money to professional managers to invest still wish to remain informed about what their managers are thinking and how therefore they...

Launch of the Allan Gray-Orbis Global Optimal Fund of Funds

By Richard Carter on 31 Mar 2010

Allan Gray introduced its third rand-denominated offshore fund on 1 March 2010 bringing the total number of unit trusts to nine. The Allan Gray-Orbis Global...

Tough to be different

By Jonathan Brodie and Trevor Black on 31 Dec 2009

In the Q2 Quarterly Commentary, Jonathan Brodie and Trevor Black of Orbis discussed the fact that long-term outperformance requires a partnership between the...

The benefits and pitfalls of foreign diversification

By Chris du Toit on 30 Sep 2009

Most South African investors looking to diversify will choose to include offshore assets in their portfolio. The trick is to select the right combination of...

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