Just over 15 months ago, former Queensland state cricketer Sandy Morgan [1], told us all about his self managed super fund, which he started up nearly two decades ago.
Sandy still likes investing, and although he draws down enough so he can “ beer at the end of the week” he watches his portfolio every day and has bought shares during the past 12 months.
What have you done since we last spoke?
I’ve pretty much kept the portfolio going and of course as the market has gone up, it’s gone up. I’m basically invested in equities. My private equity investments haven’t been terribly successfully. However I hope to sell down a stake in a company (Sandy is on the board of Aurora Funds Management) and if that works out, Ill have a bucket-load of cash to invest.
How many companies do you hold?
I’m pretty diversified, I own about 50 companies so I haven’t got big holdings in any one company.
What sort of companies do you own?
I’ve been in Ardent ever since it started off on the Gold Coast. I haven’t got any enormously big holdings. I’ve got Insurance Australia Group and Harvey Norman. Everyone said sell Harvey Norman but its done ok. I even bought into Fairfax and that’s done ok. I’m comfortable investing in shares and I keep buying them. I look at my portfolio daily.
What have you bought or sold in the past 15 months?
This year I bought Arrium (that hasn’t done too well), Australian Agricultural Company and I bought some ASG Group and that’s picked up.
I sold a few to make sure that I can buy a beer at the end of the week. I sold a bit of the banks. I sold some Telstra the other day, I’ve held onto them forever and their values have just gone up and up.
Of course I did things like sell Magellan way way too early at $6, I think now it’s around $12. But my holdings in Amcor have gone up, Boral has been improving. They’ve all done alright.
When you free up some cash, what will you invest in?
I think maybe Treasury Wine Estates. I wouldn’t mind having a go at News Corp. I think the big companies get it right eventually and News Corp has been hammered.
Coca Cola is another one, although I’m not that keen on the drink itself but they’ve got good distribution. They’ve now got a bit of exposure to Indonesia.
I think the system we live under is biased towards equity investing and that’s even more so now they’ve whacked down interest rates.
Are you still playing cricket?
I’m going to South Africa for my last Golden Oldies tour in March. And this time I really mean it’s my last. I’m not going to get sucked into bowling so much this time.
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