World news – 4 words that frighten a $180 billion fund manager


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Motley Fool Australia » Coronavirus News » 4 words that frighten a $180 billion fund manager

Tony Yoo | September 18, 2020 4:02pm

Since 2006 he has been chief investment officer for AustralianSuper, which now has more than $180 billion under management.

So Delaney knows a thing or two about investing, and has heard all the barbecue talk about how to grow your money.

“There’s no more dangerous words in investing than ‘this time it’s different’,” he said at the Yahoo Finance All Markets Summit.

COVID-19 has made for an unprecedented 2020, which could well cause permanent changes to the way we live and work.

Plenty of newbies have dived into the sharemarket this year, pouring in what fund manager Geoff Wilson called “non-sophisticated money”.

Financial authorities and veteran investors are worried that many are in to make a quick buck and could plunge themselves into horrible trouble.

“The biggest risk in investing is not that you lose money in the short term,” he said.

“But it’s that your investments don’t deliver what you want them to in the long term.”

Many superannuation account holders this year would have changed their investment mix to increase their proportion of cash.

“It’s like driving your car on high beam. You’re not looking at the next bend — you’re looking at the bend after and the one after that,” he said.

“That’s what investing is, looking at what’s beyond what you can see in front of you.”

The Reserve Bank of Australia and central banks around the world have declared low interest rates will be around for many years to aid recovery.

So for Delaney, it makes sense to put your money into the inevitable recovery out of the pandemic.

“Why don’t we invest in things that will benefit from the recovery in the economy, growth in earnings and businesses that are taking advantage of the structural changes that are taking place.”

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Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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