Q&A with new Senior Investment Analyst at Contango
Contango Asset Management has appointed Stephen Scott as a senior investment analyst, reporting to chief investment officer George Boubouras. Scott was most recently head of research at Ord Minnett and was the senior portfolio manager for Deutsche Asset Management from 1996 through to 2007. In a very entertaining Q&A, he tells us about his early dabble in the firewood business, what drew him to his new role at Contango and some hot-tips for honeymoon spots.
Contango Asset Management has appointed Stephen Scott as a senior investment analyst, reporting to chief investment officer George Boubouras. Scott was most recently head of research at Ord Minnett and was the senior portfolio manager for Deutsche Asset Management from 1996 through to 2007. In a very entertaining Q&A, he tells us about his early dabble in the firewood business, what drew him to his new role at Contango and some hot-tips for honeymoon spots.
What are you most looking forward to in your new role?
Getting back into buy side (funds management) equity research after some time on the sell side (as a broker). I really enjoy buy side equity research. I have been given the retail sector and diversified financial sectors and I really enjoy walking the stores, talking to the builders of business, talking to industry players, modelling the businesses and undertaking simple and considered grass roots research.
The macro overlay that Contango uses as part of it investment process helps to maximise Contango's time and effort in sectors and stocks where we see opportunity. One of the biggest challenges in financial markets is the overwhelming volume and noisiness of the information flow - the Contango macro approach helps to distil the information flow into a manageable stream.
What initially drew you to take up the position?
Contango has a solid reputation since forming in 1998 and I was attracted to the experience and calibre of the people and the process.
Also I have worked with some of the Portfolio Managers previously, I like the multi cap role (I cover both large and small cap stocks) and I was keen to move my growing family to Melbourne. Another positive is that Contango is Australian owned and operated and I really like that. The boutique structure keeps the business purely focussed on delivering the best outcome for our investors. I am happy to avoid the truly terrible Sydney traffic, the Sydney Airport parking charges, the aggressive parking police and the small municipal rubbish bin sizes. I have yet to back a Melbourne Footy side but have been given plenty of "helpful" advice around the office.
What is one of the best pieces of advice you've ever been given?
Always be very curious. I also believe a key skill is simply to listen.... very very carefully.
Where did you grow up?
Northern Sydney and Kenthurst (in North Western Sydney) on five acres complete with a dam, makeshift motorbike track, an area under crop, plenty of snakes and some seriously nasty funnel web spiders.
What was your very first job?
Selling firewood. I ran a vertically integrated operation. My brother and I sourced, chopped, split, marketed and delivered firewood at $40 a box trailer load. It was after the Sydney hail storms and there was plentiful raw tree supply. I used Mum's Volvo and Dad's chainsaw and probably did not accrue the depreciation on these pieces of kit properly.
Do you have a secret skill/hidden talent?
I am an interested student of Western modern military history and can breakdown all sorts of conflicts into winners/losers and speculate on lasting consequences. I took my wife on our honeymoon to the Imperial War Museum in London and the D Day landing beaches in Normandy. We are still married and now have 3 children!
Is there a particular charity or cause that you support?
I prefer to support local charities that have a strong and long history of helping local homeless and very disadvantaged people in concrete ways. My preferences are The Smith Family and Vinnies.
