Alex Waislitz Quotes
102 Alex Waislitz Quotes
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[In October 2006] Property’s an area I’ve grown up in and I’m reasonably comfortable with.
Alex Waislitz
Concentrate on the outcome, not the process.
Alex Waislitz
[On Robert Holmes a Court] He was very strong on company brands and their value – the Rolls-Royces of the world. He said that a company might be badly run, but if it had a terrific brand and you could buy it at the right value, you could restore its fortunes. He was always very strong on hidden assets. You sift your way through a company’s balance sheet and you might find some assets that haven’t been revalued for ages. He taught me to look deeper and harder at a company’s assets, with the aim of unlocking a Pandora’s box of corporate jewels.
Alex Waislitz
[On Robert Holmes a Court’s ability to see where a company could be in the future.] He was strong on looking through and seeing what the potential was.
Alex Waislitz
[On Robert Holmes a Court’s empire unwinding due to too much borrowed money.] It probably made me more conservative than I should be in terms of borrowing.
Alex Waislitz
[On what he looks at when investing.] We look at two principal things. One is value – making sure we’re buying at the right price – and the other is the people we’re backing.
Alex Waislitz
I'm very much a 'people' person. I want to know that the person we're backing has got the ability to expand and grow the business. Have they got the aspiration? Have they got their own money in the business? Are they incentivised enough to make them think about the business 24/7?
Alex Waislitz
I dream more about companies than shares. I love the business of business. I love the dynamic of business. I dream about improving businesses and how they work. I enjoy the cut and thrust of it.
Alex Waislitz
[In October 2006 on buying Fleetwood (FWD) shares for under 50 cents in 1993 and then selling then in 2005 for close to $9.00 a share.] They had a very good name locally; they seemed to have a good product and the shares looked to be very cheap, and it encouraged us that the chief executive was prepared to put some of his own money into it.
Alex Waislitz
[On his father passing away at the age of 87 six months after Richard Pratt.] I think I underestimated how big a blow it was and what an anchor he was in my life and I miss the daily chats with him… A loss of emotional energy.
Alex Waislitz
[On his father passing away.] Perhaps I tried to achieve a lot in order to give him satisfaction. When he was gone, certainly it was very tough.
Alex Waislitz
[In September 2009 on Visy] My wife owns a big part of the business. There has never been any discussion about it going public. I don’t think there is any need for it. [But] Never say never, I’m not sure what the future will hold.
Alex Waislitz
[In September 2009] The ownership structure reflects Richard’s [Pratt] clear desire – and we have worked towards that – for each of the family members to have their own business. Own it, operate it and be responsible for it without other family members' involvement in that.
Alex Waislitz
[On the foundations of Thorney Investment Group starting from $1 million in seed capital from Paula Pratt] This was not that long after the 1987 crash and that was pretty raw with Richard, and he was sensitive because he didn't enjoy the experience of the '87 crash through a couple of investments he was involved in. So whilst he was supportive conceptually with the idea [of Thorney], he was not that supportive with the capital.
Alex Waislitz
We like to invest in smaller companies where we can engage with the executive team and where we can put forward our opinions to them about how they should grow. It is up to them whether they act on that or not.
Alex Waislitz
[In September 2009] Being around the family for close to 20 years, I learnt a tremendous amount from Richard [Pratt].
Alex Waislitz
[In September 2009] I used to spend Sunday mornings with Richard [Pratt] and talk to him about my philosophies and aspirations for Thorney. And really learnt from him as much as I could. If you knew Richard [Pratt] well, above everything else he was an educator and somebody who shared ideas. Just being around him meant you were always learning. I was privileged to have that opportunity
Alex Waislitz
[In September 2009 on
Richard Pratt] Here was a man who I think was such a leader, who had done so much good for so many people and had been the patriarch of our family. He was a good father and a good grandfather. He spent a lot of time with our three kids and was very interested in what they were up to. And he always took time for that.
Alex Waislitz
[In September 2009 on his last words to
Richard Pratt before he died.] I thanked him for all the support he had given me and the chance he had given me in terms of his time and what he taught me. He was very gracious back to me, and he said it was nice of you to say that but you have achieved the success of Thorney on your own. He was gracious to the end.
Alex Waislitz
[On Thorney Opportunities Ltd (Wentworth Holdings)] After more than 20 years investing in a purely private capacity, I am excited by the opportunity of providing public access to the skills and experience of the Thorney team and pursuing absolute returns for shareholders over the medium to long term.
Alex Waislitz
In the end, you don’t worry about your critics, you just go on doing your job.
Alex Waislitz
We are value investors.
Alex Waislitz
Bonus
[On Alex Waislitz] I've found Alex to be a first-class partner in matters where we are clearly working together.
Gary Weiss
[On Alex Waislitz] He’s pretty astute and pretty hungry, which is what you need to be in this game. It is a hard gig working in any family environment. But… he’s done a good job at that.
David Paradice
[On Alex Waislitz] One of Australia’s great investors.
Geoff Wilson
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