Last week Reach Markets was  joined for an online fireside chat by the founder and executive chairman of Thorney Investments, Alex Waislitz. In the session he discussed his view on the current market, how he approaches investing and the themes and trends he is currently focused on.

The billionaire investor is one of Australia’s finest and managed Thorney Investment Group (his own private money) as a private entity for decades with great success. 

Then, just over five years ago, Waislitz set up a LIC Thorney Opportunities (TOP) and following that, Thorney Technologies (TEK), effectively for the first time taking the step into managing other people’s money, not just his own.

Waislitz said that the rationale behind the creation of the LICs was simple. Firstly, individual investors don’t get access to deals, particularly early-stage fast-growth companies. Secondly, even if they did get access, they don’t have the resources or expertise to do effective due diligence on a company before investing. Thirdly, once invested, they again don’t have the influence and control to be able to take an active role in the company’s progress.

So Waislitz’s offering became centred on a vision to provide individual investors with an opportunity to invest in a vehicle that could invest through the lifecycle of a company, from seed or early stage capital, through IPO into fast growth and scale. 

The goal of delivering value and returns where others have yet to recognise value is obviously a long-term strategy. But with Thorney’s long-term track record and Alex actively at the helm it would take a brave man to bet against success. Currently you can buy TOP and TEK at a healthy discount to NAV. Alex told the webcast audience that he’s buying more TOP and TEK, because he sees the intrinsic value and believes the portfolio of positions he has taken in companies will reward shareholders who he has invested alongside. 

You can watch a recording of the session by clicking here. 

Our next Meet the Manger Session will feature Ron Shamgar – CIO Tamim Asset Management who will present on 28 August, 2020. Click here to be registered for that session.

Oh, and why did Waislitz agree to speak with Reach Markets? Because we asked him, and we’re sure glad we did! (thanks Lance 🙂 )