Orbis Investments
also referred to as: orbis
18 statements across 1 episodes · 5 bullish · 2 bearish · 1 people on the record · first statement Sep 14, 2023 by Adam Karr · said 35 times in 2 episodes since 2023 · across every show →
Mentions by year
brought up most by Adam Karr (29), Ted Seides (5), Brad Jacobs (1)
tap a year for its mentions
2024 1 mention in 1 episode
2023 34 mentions in 1 episode
Everything said about Orbis Investments, oldest first
Sep 14, 2023
Orbis mistakenly doubled down on AIG during the 2008 liquidity crisis
“And the next morning we had an investment committee meeting to make a decision as to whether or not we were going to add or sell our position in AIG. And we decided to add to it. The mistake, which I'll never forget, is the difference between liquidity and sol…”
Sep 14, 2023 positive
Orbis's balance sheet reserves can fund operations for multiple years
“We've been quite conservative in that, and it's going to depend because we've got clients across the globe
And they're on different fee structures and they're not on exactly the same fees.
So there's a mix in there, but it's more than a handful of years.”
Sep 14, 2023
Orbis charges a zero base fee and refundable performance fee
“On our long only strategies, we
Have a refundable performance fee. For our larger institutional clients, there's a zero base fee. So if we don't add value, generate alpha, client pays, zero fee. If we generate outperformance, we share that with a client whereb…”
Sep 14, 2023 negative
Karr's personal data revealed that scaling into new positions detracted value
“My view is that the riskiest position is your newest position. You've got the least insight. And so I have tended to scale into a position when I'm undertaking a new position. Turns out data says that's not right for me in particular. If it's sufficiently good…”
Sep 14, 2023
Sep 14, 2023 positive
Sep 14, 2023
Sep 14, 2023
Sep 14, 2023
All 35 Orbis analysts run concentrated 10-stock paper shadow portfolios
“All of our analysts run paper shadow portfolios. So we've got 35 analysts around the globe, and after generally a year or two, they will launch a paper portfolio. And that tends to be a concentrated expression of, call it their 10 highest conviction Recommenda…”
Sep 14, 2023 positive
Orbis senior partners receive a 12-year profit tail upon departure
“We participate in the firm, the most senior group of investors and leaders in the firm, which we call stewards.
And we're directly tied to the operating profits of the firm.
But what's unique about it is we have that interest while we're here in the seat drivi…”
Sep 14, 2023
Orbis evaluates analysts every six months using 30-page data scorecards
“All of our analysts get scorecards every six months. These are 25, thirty-page documents. It's going to look at Success ratio. It's going to look at win or loser skew. It's going to look at slugging percentage. It's going to look at that voting track record fr…”
Sep 14, 2023 bullish
Sep 14, 2023
Sep 14, 2023
Sep 14, 2023
Orbis narrows 350 analyst paper portfolio ideas into 60 to 70 positions
“If you step back, we've got 35 analysts across the globe. Each of them is running, call it a 10 stock paper portfolio. So that's 350 names. And In the strategy, we're seeking to narrow that down to call it 60, 70 high conviction positions in the global strateg…”
Sep 14, 2023 positive
Orbis mines decades of analyst paper portfolios with AI for ideas
“We have this incredible data set across all of these paper portfolios going back since inception. And we're now using AI to replicate what we would have been buying based on the historical algorithms of what we were doing. Now that doesn't drive it to be in th…”
Sep 14, 2023 bearish