Michelle Leong, Senior Equities Analyst at Australian Ethical, has spent 20+ years building an investment career. Now she’s using that experience to open doors for the next generation as a Career Connect mentor. Here she shares her career story, insights and best advice for aspiring investors.
I analyse Australian listed companies to help determine whether they should be included in our portfolios.
Out of the 35 or so companies that I look at across the Financials and Real Estate sectors, there is usually at least one news announcement each day where I will evaluate the relevance to our investment thesis on that company. Most days I’ll have 1 or 2 meetings with investee companies or industry sector analysts. If the news flow is slower, I will be searching for new investment ideas.
Getting to deep dive into companies, figuring out their business model, hearing their aspirations and hopefully seeing some of them come true.
Having been a long time in investment management, my biggest challenge is not succumbing to biases and history. Whilst it is important for a company to demonstrate a track record, it’s also important to forgive some sins of the past or not to think that continued success is a given. I try to keep the history in context with the view that the future may be very different. I try to navigate around biases by making myself aware of them, being open to hearing the other side, and engaging with younger people to hear their views.
Being able to understand financial statements. Staying calm during market volatility. Being able to think longer term.
I started my career in management accounting, invested on the side and then decided that I wanted to move into investment management. It took about six years, a lot of perseverance and the courage to not give up. I got my first full time investment job through cold calling.
I started my career in management accounting, invested on the side and then decided that I wanted to move into investment management. It took about six years, a lot of perseverance and the courage to not give up. I got my first full time investment job through cold calling.
I would have joined a public speaking club to have helped me to communicate better earlier.
I’ve participated in early career mentoring before, but not a 1-1 structured format involving university students. Career Connect was described as a short and sharp meet your mentee for a 45-minute meeting. Given this was less involved than a 6–8-week time commitment I decided to give it a go. I’ve since connected with three mentees, and all have been 10/10 in terms of enthusiasm and sharing of where they are on their journey and what they would like to do after university.
I’ve met with three great mentees through Career Connect: Wilson Thai, Mariam Yousif and Vishwas Grover.
Wilson is a generous person who volunteers at the Student Law Society as a disability and wellbeing executive. Wilson has expressed a keen interest in equities which has developed further in the seven months since we met. I now enjoy hearing his global equities pitches. I feel fortunate to be part of his journey as he looks to commence a career in investing and hope that we stay connected for many years to come. Read about Wilson’s experience as a mentee.
It was also great meeting Mariam. She was open in sharing her aspirations and interests. I was particularly taken by her passion for the USYD student-run society that she volunteers for, REISA, focusing on bridging the gap between university and the real estate sector. Having only had one session, I look forward to learning more about Mariam.
Vishwas is my most recent mentee connection. He has a great attitude to study and learning. We’ve swapped stories about our backgrounds, and I look forward to hearing more about his decentralised finance venture and how he looks to apply his global knowledge to a full-time role.
The Thinking Machine by Stephen Witt. It’s the history of Nvidia and more.
Acquired podcast with Ben Gilbert and David Rosenthal. Three-to-four-hour deep dives into a company’s history. It’s awesome.
Venture capital / start ups. Another favourite book of mine is The Power Law by Sebastian Mallaby. It’s not a recent trend but I am curious about how venture capital firms succeed in finding the right investment when they don’t have any earnings history to work with.
If you’re a university student or early-career professional pursuing a career in investment management and advice, register for Career Connect today and we’ll match you with experienced investors like Michelle for 1:1 career conversations.
We’re always looking for more great mentors too so if you’re an investor or adviser with a passion for supporting emerging talent, come join us as a mentor. Just one 45-minute virtual conversation could ignite someone’s career!
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I’ve connected with three mentees on Career Connect, and all have been 10/10 in terms of enthusiasm and sharing of where they are on their journey and what they would like to do after university.