Rules-based value investing for grown-ups.
30+ years refining a rules-based process. Podcast + Starter Kit + members’ tools. Educational, not advice.
US PORTFOLIO
AU DUMMY PORTFOLIO
QAV (Quality At Value) is a methodology for value investing, developed by Australian investor Tony Kynaston over 30+ years.
We teach the system on our podcast and provide members with buy lists for the U.S. and Australian markets.
AU LIGHT PORTFOLIO
Transparent Portfolios. Outsized Returns.
Our QAV portfolios have consistently outperformed the index over the long term. Backed by data, driven by discipline.
Learn more.
Two Ways to Get Started
QAV Light is for beginner DIY investors.
QAV Club gives you full access so you can master the QAV checklist system.
Learn more.
RECENT PODCASTS
Breaking Bread (BFH) – QAV AMERICA 41
In this episode of QAV America, Cameron and Tony navigate the “completely bonkers” landscape of 2026, where a Supreme Court reversal on Trump’s previous tariffs and the looming shadow of AI bubbles have left investors guessing. The duo breaks down the hidden “gotchas” of American Depository Receipts (ADRs), specifically examining the tax hurdles and custody fees associated with South Korean plays like Shinhan Financial Group (SHG) and Korea Electric Power (KEP). The centerpiece of the episode is a “Pulled Pork” deep dive into **Bread Financial (BFH)**—a high-yielding, unloved credit card “stub” that has spent years amputating its legacy loyalty businesses to emerge as a pure-play lender. Despite the “Trump Slump” threat of capped interest rates and a “stinky” past involving a bankrupt spin-off, BFH boasts a massive QAV quality score and looks dirt cheap on a price-to-cash-flow basis.
SHG – The Seoul of Value: QAV AMERICA 40
In this episode of QAV America, Cameron and Tony navigate a volatile week in the US markets, lead by Ford’s staggering $8.2 billion loss for 2025 and their strategic retreat from full electrification. The duo reviews the impressive performance of their “deep dive” portfolio, noting that many previously analyzed stocks have seen triple-digit or high double-digit gains. The centerpiece of the episode is a “Pulled Pork” deep dive into **Shinhan Financial Group ($SHG)**, a South Korean banking giant. Despite a litany of scandals involving cartel-like collusion, fraud, and political instability in Korea, the hosts weigh the risks against the “Value Up” government catalyst that may finally unlock the company’s depressed valuation.
RECENT BLOG POSTS
QAV Value Investing Buy List 2026-02-22
Happy Stockmarket. Here is our U.S. buy list for this week based on our value investing system. As...
QAV America Light Update #10
Happy Tuesday, QAV America. And welcome to all of our new members. This is week 10 of the American...
THE HOSTS
TK (on the right): The nicest rich guy you’ll ever meet, Tony Kynaston is a multi-millionaire professional value investor who lives in Sydney. Thanks to the QAV investing checklist system he developed, the average return on his portfolio over the last 30 years has been double market (after tax and costs have been deducted). When he’s not investing, he’s obsessed with playing golf, breeding horses, reading, and spending time with friends and family.
CR (the other one): Cameron Reilly is Tony’s 50+ year old student and the producer of the show. He was Australia’s first podcaster, has made a documentary, and has written a few books. He lives in Brisbane. When not training to become a value investing black belt, he spends his time making history podcasts, playing chess, practising Wing Chun, learning Italian, and spending time with his family.
Want to Beat the Market?
LISTEN NOW
Start listening to our weekly podcast and take it at your own pace.
Click here to watch a short video introduction or listen to our introduction episode below, which give a background on Tony and his scientific approach to value investing.