What podcasts say about Andrew Grant
Every statement, with the speaker, the exact quote and the moment it was said.
What Andrew Grant has said on podcasts
37 statements · 26 positive · 6 negative · 1 mixed · 4 neutral
Australian small-cap markets always contain investment opportunities.
“There is always opportunity.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 2:26
Small-cap companies have greater upside potential than large companies.
“By virtue of the fact that they are small, you know, it's almost axiomatic. They have more upside potential.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 5:10
Long-term patience is the main source of investment returns.
“The real money is made in the waiting.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 5:55
Andrew’s portfolio is highly concentrated in three or four investments.
“80% of my portfolio would be in three or four different investments.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 10:50
Genuinely high-conviction investment ideas are very rare.
“genuinely good ideas, like really, really good ideas that you are high conviction on are super rare.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 11:26
Hope alone is not a valid investment strategy.
“hope is not an investment strategy”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 12:29
Investors should write down their investment thesis and expectations.
“The thing I always advocate is just write it down.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 14:01
Investors should publicly test their investment ideas.
“pitching it publicly”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 15:35
Investors should not rationalize mistakes or average down on losing investments.
“The worst thing you can do is when you are wrong is rationalize and average down and do all that kind of stuff.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 16:16
Andrew has a home-field advantage and ample opportunities in Australian small caps.
“I feel as though I've got I know the jurisdiction, I know the geography, I know the culture, I've got access to people, and there's more opportunities than I can poke a stick at.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 17:49
LLMs dramatically accelerate searching and analyzing annual reports.
“LLM is like that on steroids.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 18:53
Andrew does not use AI to replace his own investment reasoning.
“I don't use it to think for me.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 20:14
AI has become indispensable to Andrew’s investment research process.
“it's at the point now where I'm not going back. I couldn't imagine going back”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 22:56
AI systems require data centers.
“AI needs newsflash, in case you don't know, needs data centers.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 24:33
Adrad’s book equity exceeds its market capitalization.
“The equity on the book is worth more than the market cap, even on a net asset basis.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 25:38
Adrad trades at 12 times earnings with minimal debt and substantial cash.
“It's a PE of 12. It's got virtually no debt. It's got a mountain of cash.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 25:59
Adrad’s heat-transfer solutions profit is growing strongly.
“the profit is growing really well.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 26:57
Adrad has substantial capacity at its new manufacturing plant.
“They've got a ton of capacity with this new plant.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 29:16
Artificial intelligence will grow extremely rapidly for many years.
“It's going to grow insanely fast for a long, long time.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 30:01
Most AI-related capital investment will fail to generate successful outcomes.
“Will most of that not work out? Well, I'm pretty sure that's going to be the case.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 31:43
AI’s greatest value will accrue in unexpected parts of its ecosystem.
“The value will be made, will be extracted in really unexpected places.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 31:53
Companies with proprietary data will be advantaged in AI markets.
“I think you're in a really good spot because you've got... a super genius IQ, high IQ AI, so do I, whoop-dee-doo, but I've got all the data and you've got nothing to train or point yours at”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 32:46
Two-sided marketplaces will likely benefit from powerful network effects.
“Things like two-sided marketplaces will probably be good because network effects are potent and real.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 32:59
Xero may lack a durable competitive advantage against AI-enabled alternatives.
“I really worry about zero. I don't know what the competitive edge of zero is.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 33:15
A high-quality company is not necessarily a high-quality investment.
“there is a very big difference between a wonderful company and a wonderful investment.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 34:38
Investors need both justified optimism and a valuation allowing for mistakes.
“you've got to have a good reason to believe the hype and also a price that allows for the fact that you're probably going to be wrong in a few ways.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 34:56
Adrad’s earnings could be 40% higher in five years while its P/E remains 12.
“It's just that earnings are 40% higher.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 36:36
Adrad’s earnings will outgrow revenue because of operating leverage.
“The bet is that they will drive their earnings forward and their earnings will be greater than the revenue growth because of the operating leverage.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 37:06
Bitcoin will continue to exist in the future.
“Will it still be around in the future? Yes.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 39:37
Bitcoin tripled Andrew’s wealth over three years but halved it over one year.
“This thing has tripled our wealth in the last three years and we've lost half our wealth in the last one year.”
Open the episode · Andrew Page on small caps, AI & changing his mind on BitcoinListen at 40:21
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.