Asset Allocation | Equities | Monetary Policy & Inflation | Rates
Ep. 158: Peter Spiller on Value Investing, Navigating Inflation and Delivering 15% Annual Returns
- By Bilal Hafeez
- 1 min read
Peter Spiller is the one of the most respected value investors in markets. He is the Founder and CIO of boutique investment house CG Asset Management. Prior to founding CGAM in 2000, Peter was a partner and strategy director at Cazenove & Co Capital Management and a US equity investor at Capel Cure & Myers. Peter has managed Capital Gearing Trust plc since 1982, which has delivered annual returns of 15%. In this podcast we discuss:
- Everything is driven by value
- Delivering 15% returns since 1980s
- How to measure fair value of equities
- Understanding impact of tech
- How rates impact equities
- Why inflation hurt equities in 1970s
- Why inflation will be higher
- Moving to short duration positions
- Why real rates will go negative
- Commercial real estate and private equity
- Current favourite positions
- Books mentioned: Slater Walker: An investigation of a financial phenomenon (Charles Raw), The Truth About Markets (Kay), Radical Uncertainty (Kay, King)
You can follow Peter’s work here.
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(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)