An hour with Andy Brough – a piworld webinar

This video can be seen at: https://www.piworld.co.uk/2020/07/17/an-hour-with-andy-brough-a-piworld-webinar/   A very entertaining and informative hour with Andy Brough, Head of the UK & European Small & Mid Cap team at Schroders. Andy gives us his tips and insights on how to make money from equities, illustrated with many colourful anecdotes. A great watch for any equity investor. Andy’s career & the funds - 00:50 What performance are you targeting? - 03:18 How do you manage money? - 07:09 Placings – Weatherspoon (JDW); Dart (DTG); Ted Baker (TED) - 12:52 Will institutional appetite for placings endure? - 14:12 How do you advise the retail investor to cope with volatility? - 15:20 Xaar (XAR) – 16:25 Has the story changed on any companies you hold with CV19 - 17:30 Where do you start with the annual report and accounts? - 19:00 Are we seeing more company failures? - 21:40 How valuable are broker notes to you? – 22:55 Does the macro picture play a part in your fund management? – 24:30 Has CV19 had any effect on your management of the funds? - 26:00 Tremor International (TRMR) - 27:54 What tricks to the trade can you hand on to us retail investors? - 28:31 What are your criteria for selling? - 30:30 What would you like to see happen to level the playing field for the retail investor? - 31:29 How do you see the future of fund management? – 32:37 Liquidity in small caps? – 33:31 Q&A Sentiment and valuation disconnect with US market? - 35:49 Sectors to avoid? - 36:50 Do you use technical analysis? - 37:22 Games Workshop (GAW) - 37:45 What’s your primary quality metric when looking for companies? - 39:45 How is ESG affecting your investment selections? - 40:15 Which companies or sectors are you most positive about now? - 41:23 How much cash is held by the fund? - 42:05 Would you expect volatility to rise in August? - 42:50 Is lack of alternative choices for money driving the market? - 43:44 Dividends? - 44:53 What’s the short-term outlook on JD Wetherspoons (JDW)? - 45:50 Management incentives? - 46:34 Superdry (SDRY); Ted Baker (TED); Restaurant Group (RTN) - 47:44 How do you distinguish between good and bad management? – 49:08 Games Workshop (GAW) share sale - 49:50 Xaar (XAR) - 50:49 Spurs: buy, sell or hold?! – 52:44 Where to find Andy Brough & and the funds - 53:50 About Andy Brough: • Head of the UK & European Small and Mid Cap team • Manager of the Schroder Mid 250 Fund and the Schroder UK Smaller Companies Fund • Co-Manager of the Schroder UK Mid Cap Fund plc and Co-manager of the Schroder Institutional UK Smaller Companies Fund • Co-manager of Schroder ISF European Smaller Companies • Investment career commenced on joining Schroders in 1987 • Chartered Accountant • BSc in Economics, Manchester University