Investment Podcast 35 – Inside the Contrarian Playbook

As elevated valuations and index concentration challenge traditional portfolios, Daniel Kelly is joined by Chris Hestelow (Allan Gray) to explore the firm’s contrarian, long-term investment philosophy. They unpack a high-conviction process built on deep fundamental research, independent review, and clear portfolio manager accountability – designed to prioritise alpha over index-hugging. They highlight recent outperformance from out-of-favour holdings rather than mega-cap leaders, and how advisers can pair truly active strategies with passive allocations for genuine diversification. With a focus on absolute risk and building resilient portfolios over macro predictions, this episode offers practical insight for navigating uncertain markets.

Accreditation Points Allocation:

0.25 Technical Competence

0.25 Client Care and Practice

0.25 Regulatory Compliance and Consumer Protection