The Future of Investing in International Markets with Jason Crawshaw

Money Tree Investing

Money Tree Investing Podcast

Stockmarket, Valuestocks, Investing, Finance, Passiveincome, Wealth, Business, Personalfinance

4.6 • 658 Ratings

🗓️ 28 June 2024

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today we welcome Jason Crawshaw from Polaris to talk about investing in international markets. Originally from South Africa, he is now a portfolio manager here. His journey's been a rollercoaster, from business school in the US to cutting my teeth in Johannesburg's equity market. Now, for over a decade, he's called Polaris home, focusing on global value. Lately, he is locked on international plays, whether it's established or emerging markets. Learn more about the future of investing in international markets! T

his week we discuss...

Jason's experience in the equity market, particularly in fundamental equity analysis, with a focus on cash flow generation.
How Jason's investment strategy revolves around discounted cash flow analysis, particularly focusing on maintenance cash flow adjusted for inflation.
Jason's preference for international markets over the US due to perceived value opportunities.
The dominance of the US in global equity markets and the potential overvaluation compared to other regions.
Regions like Europe and their economic challenges, energy concerns, and regulatory issues.
Emerging markets: past enthusiasm and current challenges, especially in China.
Africa as a frontier market with demographic advantages but also currency and governance challenges, making it difficult for equity investors.
The importance of capital allocation and shareholder returns, and the impact of management decisions on stock performance.

For more information, visit the show notes at https://moneytreepodcast.com/investing-in-international-markets-jason-crawshaw-629

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Megan Gorman | The Wealth Intersection
Phil Weiss | Apprise Wealth Management

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Transcript

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0:00.0	Welcome to the Money Tree Investing Podcast.
0:04.8	Stock market, wealth, personal finance, value stocks, invest in your life.
0:11.1	Hello, Smart Money Tree Podcast listeners.
0:12.8	Welcome to this week's show.
0:13.8	My name's Kirk Chisholm.
0:14.8	I'll be your host.
0:16.0	So today I'm joined with Jason Crenshaw.
0:18.3	How you're doing to Jason?
0:19.3	Doing great.
0:20.0	Thanks so much, Kirk, for having me. Appreciate it. Good. Well, glad you
0:22.8	have you in the show. I wanted to talk about this category because no one's paying attention to
0:26.8	it, unfortunately, but that's why I want to bring Jason on so we could bring your attention to it.
0:30.7	Maybe you can tell us a bit about your background. I'm a portfolio manager here at Polaris Capital Management in Boston, actually from South Africa originally. I'm sure my
0:38.0	accent is long gone. I grew up in the U.S., but after graduating from business school,
0:42.7	went back and worked in Johannesburg. And that's really where I cut my teeth in the equity market.
0:47.4	I've been 30 years on now if it bottoms up front of my equity analysis. In fact, the first 20
0:52.3	years of my career has been actually in the long, short
0:54.6	world, which has certainly given me a little bit different perspective, looking for both
0:58.7	winners and losers. And the last 10 or 11 years has been at Polaris, which is a long-only
1:04.0	global value shop. So tell me a little bit about where your focus is now. What's your primary
1:09.1	focus with investment management?
1:18.0	Our strategy is a global value strategy. Our brand of value is different than probably most value managers, meaning that we only care about one thing. That's cash flow generation. So we are
	...

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