Tim Clare

Name: Tim Clare

Time investing: 35 years

Investment approach: Long-term

Let's start from the beginning: Why did you start investing?

To be financially free and retire young. The funny thing is, once I could retire and was working on my terms, I didn't want to anymore.

What were your first investments?

Colonial First State Dividend Imputation Fund and Future Leaders Fund and shares in the NSW TAB float – now part of Tabcorp ($TAH). Remember those?

What does your portfolio currently look like?

If it was a pizza, you'd call it four corners. 

• 20% is in passive international ETFs: $VGS, $NDQ. 

• 20% is in active international and managed funds: $MFF, $LHGG, Forager, Munro.

• 10% is in active Australian managed funds: Seneca, Forager, Lakehouse

• 50% is direct Australian shares. 

OK, so not equal corners.

Describe your investing style

It's changed many times but has gradually become more quality growth focused with a long-term view. I leave some of the smaller stuff to fund managers now.

What stocks are currently on your watchlist

Stocks which are on my watchlist that I don't currently hold include Supply Network ($SNL), Netwealth Group ($NWL), Breville Group ($BRG), Objective Corporation ($OCL), JB Hi-Fi ($JBH) and TechnologyOne ($TNE). They're all too expensive for me at the moment.

What research do you do before buying a stock?

I do a quantitative and qualitative deep dive into how a company makes money, the quality of management, economic moats, potential risks and current valuation.

What have been your biggest wins to date?

Long term positions in enterprise software such as Pro Medicus ($PME), WiseTech ($WTC), Altium ($ALU – delisted), as Xero ($XRO), as well as Nick Scali ($NCK).

How did you first react when you saw one of your investments go down?

Not panic… but severe uncertainty. Did I get something wrong? Is this temporary or permanent? 

What advice would you give your younger self before making your first trade?

Do your homework (know your thesis). Write it down and know when you will sell (i.e. your thesis is broken) ahead of time.

Finally, describe how it feels to be an investor

A bit scary at times (even after 35 years), but at the same time empowering.

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The personal views in this article do not reflect the views of Stake and do not constitute financial advice, nor a recommendation to invest in the securities listed. Past performance is not a reliable indicator of future performance. As always, do your own research and consider seeking financial, legal and taxation advice before investing.