Bruno Paulson says his granddad first taught him about equity investing, with timeless principles guiding the fundie to certain high-quality businesses.
Morgan Stanley managing director and portfolio manager Bruno Paulson isn’t worried about the stockmarket’s slide in the conventional sense.
“I think people have far too short investment horizons. They get greedy for a short-term win and panic when it goes wrong. You could just find a good company at a reasonable price, then hang on to it.”Company in Australia to distribute its equity funds to retail investors, with Paulson’s Global Sustain Fund offering a low-carbon, environmental, social and governance focus at the same time as owning high-quality companies on reasonable valuations.
“The market can’t do that because the lower quality companies do great in good times and then bad things happen in the bad times and that’s the edge, that you can compound better than the market.”is not necessarily a problem for companies the fund owns such as Microsoft, Visa and Reckitt Benckiser because they can pass cost increases on to customers and maintain profit margins.
In financial 2021 Accenture spent $US2 billion on research, development and training, and returned $US5.9 billion cash to shareholders. Effusive about his career, he says Morgan Stanley has been “brilliant” and recalls how one of his first investing successes at the sprawling group came in a roundabout way.
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