🗣️ Investor Talk #2: Irnest Kaplan

Founder - Kaplan Equity Analysts

Welcome to Investor Talk — where we interview successful investors to uncover their journeys, strategies, and the lessons they've learned. Get inspired by real stories and gain valuable insights to sharpen your own investment approach.

Every interview follows the same set of sharp, insightful questions — such as “What is your investment strategy?”, “What are your highest conviction stocks?”, and “What’s the biggest investment mistake you’ve made?”

In this edition, we have the pleasure of interviewing:

Name: Irnest Kaplan @IrnestKaplan
Age: 48
Residence: South-Africa
Invests since: 1998

𝗜𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻
I became an Electrical Engineer in the mid-nineties and worked in the IT Industry for several years. During that time, I was part of an Internet company that pioneered the commercialization of the Internet in South Africa. I later pursued studies in the CFA program and became captivated by the field of valuation and equity research. I joined Societe Generale as a sell-side equity analyst, specializing in the Tech and Telecoms sectors. Unfortunately, due to the dot com bubble burst, our equity operation was shut down, and we were all laid off after about two to three years. Despite this setback, I continued my work independently and have been consistently ranked among the top analysts in my sector (Tech), holding the number 1 position for the past two years.

𝗪𝗵𝗮𝘁 𝗶𝘀 𝘆𝗼𝘂𝗿 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆?
Growth and a bit of value. I am originally a value disciple (proponent of DCFs etc), but in the last 10 years or so, I've added growth to my style.

𝗛𝗼𝘄 𝗺𝗮𝗻𝘆 𝘀𝘁𝗼𝗰𝗸𝘀 𝗮𝗿𝗲 𝗰𝘂𝗿𝗿𝗲𝗻𝘁𝗹𝘆 𝗵𝗲𝗹𝗱 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼?
My portfolio consists about 20 instruments. A few broad indices make up a big portion (about 30-40%). Then there's about 30-40% single stocks. And then cash.

𝗪𝗵𝗶𝗰𝗵 𝘀𝗲𝗰𝘁𝗼𝗿𝘀 𝗱𝗼 𝘆𝗼𝘂 𝗺𝗮𝗶𝗻𝗹𝘆 𝗳𝗼𝗰𝘂𝘀 𝗼𝗻?
Technology. Its my circle of competence.

𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘆𝗼𝘂𝗿 𝟯 𝗵𝗶𝗴𝗵𝗲𝘀𝘁 𝗰𝗼𝗻𝘃𝗶𝗰𝘁𝗶𝗼𝗻 𝘀𝘁𝗼𝗰𝗸𝘀?
$MSFT - Microsoft
$ADYEY - Adyen
$MELI - MercadoLibre

𝗪𝗵𝗶𝗰𝗵 𝘀𝘁𝗼𝗰𝗸 𝗵𝗮𝘀 𝘁𝗵𝗲 𝗵𝗶𝗴𝗵𝗲𝘀𝘁 𝗿𝗲𝘁𝘂𝗿𝗻?
$MSFT - Microsoft, that's because I started buying it long ago around 2012 and never sold.

𝗪𝗵𝗮𝘁 𝗶𝘀 𝘁𝗵𝗲 𝗯𝗶𝗴𝗴𝗲𝘀𝘁 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗺𝗶𝘀𝘁𝗮𝗸𝗲 𝘆𝗼𝘂 𝗵𝗮𝘃𝗲 𝗺𝗮𝗱𝗲?
I have made a few. In the run up of 2020, after COVID, I chased a few stocks nearer to the top with less regard for valuation and lost quite a bit. Lucky for me, I don't go in too big on a new stock, so the impact wasn't too bad.

𝗠𝘆 𝗳𝗮𝘃𝗼𝗿𝗶𝘁𝗲𝘀
Favorite book: I haven't read many books from start to finish in the past few years. And it's hard for me to single out a favorite.

Favorite podcast: Invest like the Best - Patrick O'Shaughnessy @InvestLikeBest @patrick_oshag
The main reason is the high level of guests he manages to get on occasion.

Favorite quote: "Carpe Diem" - Irnest Kaplan

Favorite FinTwit account: Too many favorites. I can't single out one or even a few. Have a look at the folk I follow. They are all great and I have learned a lot from most of them.

𝗪𝗵𝗲𝗿𝗲 𝗰𝗮𝗻 𝘄𝗲 𝗳𝗶𝗻𝗱 𝗺𝗼𝗿𝗲 𝗶𝗻𝗳𝗼 𝗮𝗯𝗼𝘂𝘁 𝘆𝗼𝘂?
http://kaplanequity.com
http://linkedin.com/in/irnestkaplan/

Disclaimer:
The information and opinions provided in this article are for informational and educational purposes only and should not be considered as investment advice or a recommendation to buy, sell, or hold any financial product, security, or asset. The Future Investors does not provide personalized investment advice and is not a licensed financial advisor. Always do your own research before making any investment decisions and consult with a qualified financial professional before making any investment decisions. Please consult the general disclaimer for more details.