Aussie Firebug

97. Andrew Page - Strawman

19 snips
Sep 14, 2025
In this conversation, Andrew Page, the founder of Strawman.com, dives deep into the world of investing with over 20 years of experience. He shares his belief in the ongoing relevance of stock picking, even amid the rise of index funds. Andrew discusses how to differentiate between strong and weak businesses, and he offers insights into evaluating company founders. The discussion also touches on his evolving perspective on Bitcoin and how it fits into the value investing landscape, alongside resources for investors looking to engage more actively.
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ANECDOTE

Catapult: Holding Through The Journey

  • Andrew bought Catapult at ~55 cents and rode it through missteps to large gains as the business scaled.
  • He emphasises product traction, network effects and operating leverage as the reasons he held through volatility.
ADVICE

Value The Business, Not The Ticker

  • Always value the business before looking at the share price; price alone tells you little.
  • Work out an independent valuation and then decide if the market price is attractive relative to future fundamentals.
ANECDOTE

From Skeptic To Bitcoin Holder

  • Andrew initially dismissed Bitcoin in 2017 but researched it to 'nail it to the coffin' and instead became convinced.
  • He first bought a small Bitcoin position and later expanded his exposure after deep study.
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