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Great interview. He did most of the talking, and spoke eloquently and at length. A great interviewer is one who knows enough to let the guest explain himself. Which you did.
Excellent interview questions from Clay. Mr. Kelly was articulate and informative but also defensive, prickly, and long winded. The more he spoke the more I began to have doubts about his judgment. His story was certainly interesting though.
This is the first time I've been able to put a face to the name. Very impressed with how he articulated his philosophy. Hope he doesn't go private. Could be a great wealth builder for many everyday people. I wonder if his philosophy could be applied to other businesses as well...
Why is the stock so expensive? Looks like investors are valuing this using total earnings across partnerships but the NPAT attributable to the holdco owners is less than half of it.
Could you please explain your comment more deeply? Is it bad or good that market is valuing KPG using total earnings? KPG reports “earnings to KPG shareholders” so those number are cleaned from any one-time events and partner related earnings. :) Thanks.
Kelly CEO call 📞 Omaha (Warren Buffett) or mail him annual returns. Alternatively there are many family offices that would be eager to buy majority stake in the company. Did this company have a recent IPO? Is KPGHF the correct ticker? I don’t see chart going back to 2007
after rewatching this 3 times (and reading ALL the materials on their investor relation page and watching all of Bretts videos I am concerned about: Brett mentioned going private. When the CEO says he is considering a take private he is essentially saying screw you to shareholders. In some of his videos he mentions a few times that "the share price is not reflecting the intrinsic value" .(Ok, fair point, maybe it is maybe it isnt). BUT If share price is significantly lower that intrinsic value, shouldn't he be happy and buyback as much shares as possible? I don't like this short term obsession of "obtaining share price nearer to the 'intrinsic value' from a CEO of a company. the only reason why he would the share price to be higher in the short term is so he can sell his shares for more money. (I get it that we all want to do that at some point but considering us "qualitiy shareholders and long term view" wouldnt it make more sense to accumulate/buyback more shares now when the price is so much lower that intrinsic value?
Yea plus I don’t know why he thinks the share price doesn’t reflect intrinsic value. See my other comment - shouldn’t this be valued using the 51% of free cash flow attributed to the holdco? Maybe I’m reading the financials wrong but it’s a hefty multiple to pay for a business that primarily relies on inorganic growth. I agree with you the best use of capital would be to buy back your company at a high FCF yield. This feels like one of those businesses where the ceo is being called the next Buffett/Leonard and everyone’s buying shares because they just read the outsiders 😂
@@Ro22666 dont get me wrong, I am a shareholder and I love the guy’s story. From the early writing to this multinationaly company ceo. But that doesnt mean that I thake everything for granted and that I am not gonna be critical if I hear something that doesnt resonate well with me. If I can accept the good I want also to see the “bad” side of every coin. Brett is a very very competent person and I loved his earlier videos and his mindset (and book recomedations) but on this one he comes a little to much like a level 4 leader (to much “I” and to much ego speaking. This tone of his just didnt sit well with me). His results speak for themselves, +30% CAGAR for so many years is above excellent result. he comes off as he is trying to promote the stock in this one. I admire Brett but I need to call a spade a spade when I see one (Sorry for my bad english)
@davorsostaric this interview was based on answering a set list of questions provided by the TIP community hence its tone is somewhat different to a normal interview discussion of KPG in terms of emphasis.
@@brettkellypartners you are right Brett. My comment comes off a little to agresive and hostile. That was not my intention. I just couldnt believe what I was hearing here and the vibe I got, becouse in every other video you where great. I admire you as a business person and love what you are doing with the company and thats why I was “afraid” you gonna take it private. Everybody who did the work and has read all your materials and reporsts can see that this is grest business with great trajectory. We all want to accumulate as many shares as possible :) Please continue with the great work and with this fantastic results and please for the love of god dont take it private
@@davorsostaric our Board has to consider impartially the best way forward for the company on all matters so cannot exclude a take private form considerations, basically the ultimate buy back. As I have said many times it isn't our preferred course of action and we just want to be transparent. The list of questions where pre-set and I have tried my best to answer them.
I found it really insightful and clear. How is your knowledge of business? Maybe try to learn more about business and come back to it and try to understand it. There aren't many businesses being this transparent and displaying it this clearly. Take a look at the books on one of the last slides, they should provide you with the right knowledge! good luck!
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⚠ IMPORTANT: Please beware of cyber scams and phishing attacks. We will never ask for your contact info in the comments section. Kindly report suspicious accounts you see below. Thank you!
Great interview. He did most of the talking, and spoke eloquently and at length. A great interviewer is one who knows enough to let the guest explain himself. Which you did.
Excellent interview questions from Clay. Mr. Kelly was articulate and informative but also defensive, prickly, and long winded. The more he spoke the more I began to have doubts about his judgment. His story was certainly interesting though.
This is the first time I've been able to put a face to the name. Very impressed with how he articulated his philosophy. Hope he doesn't go private. Could be a great wealth builder for many everyday people. I wonder if his philosophy could be applied to other businesses as well...
I really like the way Brett thinks.
This was a very valuable interview
Why is the stock so expensive? Looks like investors are valuing this using total earnings across partnerships but the NPAT attributable to the holdco owners is less than half of it.
Could you please explain your comment more deeply?
Is it bad or good that market is valuing KPG using total earnings?
KPG reports “earnings to KPG shareholders” so those number are cleaned from any one-time events and partner related earnings. :)
Thanks.
Thank you for this content
Kelly CEO call 📞 Omaha (Warren Buffett) or mail him annual returns. Alternatively there are many family offices that would be eager to buy majority stake in the company.
Did this company have a recent IPO? Is KPGHF the correct ticker? I don’t see chart going back to 2007
Listed on ASX in June 2017 under ticker KPG.
after rewatching this 3 times (and reading ALL the materials on their investor relation page and watching all of Bretts videos I am concerned about:
Brett mentioned going private. When the CEO says he is considering a take private he is essentially saying screw you to shareholders. In some of his videos he mentions a few times that "the share price is not reflecting the intrinsic value" .(Ok, fair point, maybe it is maybe it isnt). BUT If share price is significantly lower that intrinsic value, shouldn't he be happy and buyback as much shares as possible?
I don't like this short term obsession of "obtaining share price nearer to the 'intrinsic value' from a CEO of a company. the only reason why he would the share price to be higher in the short term is so he can sell his shares for more money. (I get it that we all want to do that at some point but considering us "qualitiy shareholders and long term view" wouldnt it make more sense to accumulate/buyback more shares now when the price is so much lower that intrinsic value?
Yea plus I don’t know why he thinks the share price doesn’t reflect intrinsic value. See my other comment - shouldn’t this be valued using the 51% of free cash flow attributed to the holdco? Maybe I’m reading the financials wrong but it’s a hefty multiple to pay for a business that primarily relies on inorganic growth. I agree with you the best use of capital would be to buy back your company at a high FCF yield. This feels like one of those businesses where the ceo is being called the next Buffett/Leonard and everyone’s buying shares because they just read the outsiders 😂
@@Ro22666 dont get me wrong, I am a shareholder and I love the guy’s story. From the early writing to this multinationaly company ceo. But that doesnt mean that I thake everything for granted and that I am not gonna be critical if I hear something that doesnt resonate well with me. If I can accept the good I want also to see the “bad” side of every coin.
Brett is a very very competent person and I loved his earlier videos and his mindset (and book recomedations) but on this one he comes a little to much like a level 4 leader (to much “I” and to much ego speaking. This tone of his just didnt sit well with me). His results speak for themselves, +30% CAGAR for so many years is above excellent result. he comes off as he is trying to promote the stock in this one. I admire Brett but I need to call a spade a spade when I see one
(Sorry for my bad english)
@davorsostaric this interview was based on answering a set list of questions provided by the TIP community hence its tone is somewhat different to a normal interview discussion of KPG in terms of emphasis.
@@brettkellypartners you are right Brett. My comment comes off a little to agresive and hostile. That was not my intention. I just couldnt believe what I was hearing here and the vibe I got, becouse in every other video you where great. I admire you as a business person and love what you are doing with the company and thats why I was “afraid” you gonna take it private. Everybody who did the work and has read all your materials and reporsts can see that this is grest business with great trajectory. We all want to accumulate as many shares as possible :)
Please continue with the great work and with this fantastic results and please for the love of god dont take it private
@@davorsostaric our Board has to consider impartially the best way forward for the company on all matters so cannot exclude a take private form considerations, basically the ultimate buy back. As I have said many times it isn't our preferred course of action and we just want to be transparent. The list of questions where pre-set and I have tried my best to answer them.
What a CEO. Another happy shareholder...
I have read KPG owner's manual. Too complicated for me. Pass.
I found it really insightful and clear. How is your knowledge of business? Maybe try to learn more about business and come back to it and try to understand it. There aren't many businesses being this transparent and displaying it this clearly. Take a look at the books on one of the last slides, they should provide you with the right knowledge! good luck!
What did you find complicated about it?
Too much rambling Brett sorry.
Thanks Sean, did my best on the day. Will keep it shorter and sharper in the future. Appreciate the feedback.
Well done Clay and thanks Brett for sharing your thoughts.
Glad you enjoyed it!🙌