Allan Gray Investment Summit 2019

Challenge the way you think
about investing

One of South Africa’s premier investing events, the 2019 Allan Gray Investment Summit, was held in Cape Town and Johannesburg in July and attracted over 3 400 investors and advisers. Watch a selection of the insights shared by some of the local and global investment managers on stage.

Watch highlights from the 2019 Investment Summit

Speakers
14
International
5
Attendees
3000+
Investment topics
12
Investment companies
9

A taste of the 2019 lineup

23:03
05:17

Investing in frontier African markets

Nick Ndiritu
Allan Gray

To be a successful investor in frontier African markets requires patience and a contrarian approach. Nick Ndiritu, portfolio manager at Allan Gray, highlights the fallacy of sweeping narratives around investing in African markets. He also looks at how investors that are prepared to ignore the noise and play the long game in African markets can generate attractive returns.

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After decades of fossil-fuel driven growth, the energy sector is now enamoured with electric vehicles and renewables. Ashley Lynn, head of fixed income at Orbis, examines the opportunities and reveals how you can invest in energy ahead of the curve.

Are fossil fuels going extinct?

By Ashley Lynn
Orbis
Full talk 22:39 Preview 04:08

Many analysts believe that AI will have a significant impact on the world over the next decade. Neil Robson, head of global equities at Columbia Threadneedle, makes the case for the potential AI winners, arguing that the companies that adopt AI correctly will have competitive advantage, and those that don’t will see their profit levels erode.

Back the AI winners

By Neil Robson
Columbia Threadneedle
Full talk 21:28 Preview 04:01

According to Duncan Artus, portfolio manager at Allan Gray, some exceptional South African companies have become cheap, as declining profits and poor sentiment combine to provide what may be a buying opportunity similar to that offered in 2002.

Party like it’s 2002

By Duncan Artus
Allan Gray
Full talk 25:10 Preview 04:33

Investing is difficult; that is not a myth. Scott Nisbet, a partner at UK-based Baillie Gifford, tackles a common belief that successful investors are those that avoid risk. He takes a critical look at investments in Baillie Gifford’s flagship Global Equities Fund since inception to discuss how investors can prosper if they learn to think differently about risk – not avoid it.

Good investors avoid risk

By Scott Nisbet
Baillie Gifford
Full talk 24:07 Preview 04:31

Insights

South African investors need to fall out of love with equities

By Kevin Lings
STANLIB

South Africa’s equity market capitalisation equates to more than 200% of the country’s GDP, the highest proportion in the world and a level that is simply not sustainable.

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Is it time for equity investors to party like it’s 2002?

By Duncan Artus
Allan Gray

Between January 2001 and February 2002 domestic equities and particularly consumer companies suffered significant declines and the rand lost some 63% of its value, stoking inflation and causing interest rates to spike.

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How poker taught me to make better decisions

By Maria Konnikova
Psychologist

Psychologist, bestselling author and professional poker player, Maria Konnikova, recently inspired delegates at the Allan Gray Investment Summit 2019 to make better decisions, by looking at the metaphor of poker.

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For more investment insights, please visit the Insights section of Allan Gray’s website.

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2019 Agenda

08:30
Welcome
Allan Gray
08:45
Is South Africa worth the risk?

From 1900 to 2018, the JSE was the best-performing stock market in the world. Fear, uncertainty and a difficult political history have always been with us and fortune seems to favour the brave.

STANLIB
09:30
Investing ahead of the herd

The most successful investors often make their move years before the herd. It’s not easy to do, but very rewarding if you get it right.

  1. Back the AI winners
    The herd is clambering to invest in artificial intelligence, but they are looking in the wrong places. Neil Robson shares his thinking on how early investors can find the big winnersNeil Robson
    Columbia Threadneedle
  2. Invest where others fear to tread
    Investing in African frontier markets is scary, but significant upside awaits those willing to invest before the herd wakes up to the rising continent.
    Nick NdirituAllan Gray
  3. Back to the futureAfter decades of fossil-fuel driven growth, the energy sector is now enamoured with electric vehicles and renewables. Ashley Lynn examines the opportunities and reveals how you can invest in energy ahead of the curve.Ashley LynnOrbis
10:40
Break
11:15
Opportunity knocks

Portfolio managers share the investment ideas they think are worth getting excited about.

  1. Show me the value
    Value stocks are at historic lows compared to growth stocks. Nicholas Kirrage believes that this is not sustainable and looks at where the biggest gains will be made when things normalise.
    Nicholas Kirrage Schroders

  2. Should you bet the farm on this?
    At current levels, South African listed property is offering a terrific opportunity. But, this is what you need to know.
    Kundayi MunzaraSesfikile
  3. Party like it’s 2002
    Some exceptional South African companies have become cheap as declining profits and poor sentiment combine to provide what may be a buying opportunity similar to that offered in 2002.
    Duncan ArtusAllan Gray
12:25
The truth behind the myths

Discover how to be a better investor by avoiding common mistakes and seeing through these myths.

  • Myth 1: Good investors avoid riskWith the market’s aversion to risk and fear of losses, you can prosper… if you learn to think differently.Scott NisbetBaillie Gifford
  • Myth 2: Investing starts with forecasting"There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know." – J K Galbraith. A fascinating insight into how wrong the market forecasters usually are and what investors should do about it.Pieter Koekemoer Coronation
  • Myth 3: Passives make for better investmentsProgress rarely comes as a result of being passive.Johny Lambridis Prudential
13:35
Lunch
14:20
Bull or bear?

Top stock picks backed up by a solid investment case presented by eight leading investment managers.

Allan Gray
Baillie Gifford
Orbis
Columbia Threadneedle
Coronation
Prudential
Sesfikile
Schroders
15:25
The biggest bluff

Investment lessons from a professional poker player.

Psychologist, author, writer for The New Yorker and professional poker player
16:15
Exhibition