"Someone’s sitting in the shade today because someone planted a tree a long time ago." – Warren Buffett
My name is Frank Taber. I am a private investor based in a small country town in Australia. I run a concentrated portfolio focusing on small & micro-caps with long-term compounding potential. Most of my portfolio is made up of what Mohnish Pabrai would call 'spawners' or more commonly termed 'compounders'. I am heavily biased towards low multiple valuations with a margin of safety. However, for a high quality company I am willing to find that margin of safety in a moat or a skilful capital allocator. I also am willing to allocate a small % of my portfolio to more special situations, net-nets and other deep value plays.
My educational background is a Bachelors Degree in Education with a major in Business. I had been interested in investing before university thanks to the Australian Securities Exchange (ASX) share market game that high school students around the country compete in. However, I didn’t become seriously interested in investing until doing a few accounting, management and economics subjects at university. I was particularly engaged in learning to read financial statements in Accounting 101. I had always had a love for business and this was my first glimpse into truly understanding and analysing the fundamentals of a business.
During the early stages of my investment journey I was a passive investor. I held a couple diversified ETF’s for a few years whilst I slowly became obsessed with researching individual companies in the hopes of outperforming the market. Admittedly, I engaged in a few speculative short-term trades before becoming more educated about stock analysis and long-term investments. I managed to generate reasonable, above market returns through speculating, thankfully I realised the nature of risk in the positions I was entering.
After stumbling across some of the stereotypical value investor readings such as Benjamin Graham’s ‘The Intelligent Investor’ and Warren Buffett’s shareholder letters, I soon became engaged in more fundamental research, analysis and valuation techniques. I sold all but one of my ETF’s. I continued to hold $VAS which tracks the 300 largest Australian public companies. I allowed that to slowly compound while I invested about half of my portfolio into individual companies. After 12 months, my stock picking half of my portfolio was out performing the passive side by about 3 to 1. I then decided to shift towards a more concentrated, valued-based approach to investing for the entire portfolio.
A few years later, and my three favourite things in life are my family, investing and education. So I decided to start a YouTube channel to create educational investing content. It had the added bonus of one day providing a small side income for my family as well. I have since decided to launch this website and write a blog with the aim of sharing more detailed information with my audience to assist them with fundamental research of individual companies and to understand a range of investing concepts.
On this website I am sharing and tracking my portfolio and returns, updated once per month. This is partly to be transparent with my audience and to allow further insights into my investing strategy. This can be found on the 'Portfolio' page. I also breakdown my portfolio structure and strategy. Due to privacy reasons I have decided not to disclose the dollar amount of my investments. However, I will provide weightings of each asset. Of course, this portfolio is not a buy recommendation and nothing on this website is investment advice. The purpose of sharing fundamental analysis' of companies and my personal portfolio is to educate other personal investors and provide ideas for further due diligence. Please always do your own research and seek professional financial advice when needed.