Most investors spend their time looking for the next stock to buy, Stephen Arnold, Founder and CIO of Aoris, argues that great investing starts by knowing what not to own. In this episode, he explains Aoris’ quality-first approach, why the fund avoids entire sectors like banks, mining and biotech, and how a concentrated portfolio of just 15 businesses helps them focus on companies with durable advantages, strong cultures and long runways for growth.

In this episode:

00:00 – Why Aoris runs a concentrated portfolio

02:22 – What “quality-first value investing” means

07:52 – Red flags and Aoris’ no-go zones

09:29 – Compass Group: The world's largest contract caterer

18:29 – Cintas: The boring compounder hiding in plain sight

25:06 – The importance of defining what not to buy

27:13 – Why Aoris avoids banks, mining, biotech and more

35:19 – Why only 15 stocks and lessons for investors

Thanks to Aoris for sponsoring this episode and helping to keep our content free. The Aoris International Fund is available as an Active ETF, via the following ASX listed products: ASX: BAOR: Aoris International Fund Active ETF (Class B) & ASX: DAOR: Aoris International Fund Active ETF (Class D) (Hedged).

Visit the Aoris Website to download the Owners Manual - https://www.aoris.com.au/

ETFs and Stocks mentioned: Compass Group (LSE: CPG), Cintas (NASDAQ: CTAS), Microsoft (NASDAQ: MSFT), Alphabet (NASDAQ: GOOGL), Amazon (NASDAQ: AMZN), Nvidia (NASDAQ: NVDA)

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This podcast is intended for education and entertainment purposes only. Any advice is general advice and has not taken into account your personal financial circumstances. Before acting on general advice, you should consider if it is relevant to your needs. If unsure, speak to a financial professional. The host of this podcast and their guests may have positions in the companies mentioned. Equity Mates Media is part of the Betashares Group but maintains editorial independence and operates under Australian Financial Services licence 540697.

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