Rory Kutisker-Jacobson
Articles by Rory Kutisker-Jacobson
Geopolitical factors trigger concerns about Georgia
Frontier markets, like Georgia, offer investors exposure to a range of sectors and opportunities that are not available in more developed markets, however,...
Finding value in a depressed earnings environment
After a disappointing decade, many are wondering whether the JSE still offers long-term value for patient investors. Rory Kutisker-Jacobson discusses the...
The key lesson from 2023: Uncertainty is ever-present
Rory Kutisker-Jacobson takes stock of the key local and global market events of 2023 and highlights some of the themes that are likely to shape the year ahea...
Are we entering a global stockpicker’s paradise?
In conversation with portfolio manager Rory Kutisker-Jacobson, Matthew Spencer from our offshore partner, Orbis, explains why the Investment team believes th...
Podcast: Do old investment truths still hold in the current global environment?
In the latest episode of The Allan Gray Podcast, hosted by Allan Gray portfolio manager Rory Kutisker-Jacobson, Dan Brocklebank, head of Orbis UK, reflects o...
It’s the price you pay that matters
As investors we shouldn’t pretend we operate in a vacuum that is nicely insulated from the prevailing macroeconomic and political trends. However, it is...
Equity Fund: Fishing in muddy waters
In his 1986 letter to shareholders, Warren Buffett famously spoke of being fearful when others are greedy, and greedy when others are fearful.
Balancing risk and opportunity
When it comes to investing, the single most important variable is the price you pay. Sentiment can drive valuations to extremes, and even great companies can...
Do fundamentals still matter?
There is an increasingly wide disconnect between the economic reality on the ground and the valuations reflected in some asset classes globally, begging the...
Searching for value amid Africa’s disappointing equity returns
International equity markets have recovered sharply from the March lows, however African markets made only a modest recovery. As the continent’s leaders face...
The framing fallacy
We humans are fallible creatures who suffer from several cognitive biases. Using the COVID-19 pandemic as an example, Rory Kutisker-Jacobson highlights how...
COVID-19: Is there long-term value in frontier markets?
At the time of publication, roughly one-third of the world’s population is living under lockdown regulations as a result of the COVID-19 pandemic. In many...
The benefits of being counter-cyclical in a cyclical world
“Prediction is very difficult, especially about the future.” – Niels Bohr. In cyclical industries, understanding where we are in the cycle and acting...
What is the sweet spot for the oil price?
In the face of an OPEC oil production cut, shale producer activity and US President Donald Trump proposing various far-reaching changes what can we expect fr...
Building confidence in construction
'Success in investing is not a question of what you buy, it is a question of what you pay.' Howard Marks Buying above-average companies at average or hopeful...
Sasol: A history of underestimation
Sasol is our clients' largest equity investment. Founded in 1950 and listed in 1979, Sasol's core business is to produce synthetic liquid fuels and chemicals...
Anglo American: Getting what you pay for?
As contrarian investors we are always on the lookout for assets which we can buy for less than our estimate of their intrinsic value. As a result, much of ou...
The investment case for Royal Bafokeng Platinum
On a relative basis, we believe Royal Bafokeng Platinum represents the most attractive value in the platinum sector. Upon listing, the Royal Bafokeng Nation...
