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
CHRD: The Williston Whale – QAV AMERICA 37
In this episode of QAV America, Cameron and Tony navigate the extremes of global weather and market volatility. After discussing the impact of recent geopolitical “deals” on their US portfolios, they dive into a success story from the Bakken formation: **Chord Energy (CHRD)**. The conversation explores the “Shale 2.0” era, detailing how modern horizontal drilling and leaner capital structures have transformed former bankruptcy stories into cash-generating powerhouses. Tony provides a technical breakdown of Chord’s recent $11 billion acquisition of Enerplus and their shareholder-friendly policy of returning free cash flow through buybacks and dividends.
AMTD: The Murky SpiderNet – QAV AMERICA 36
In this episode of QAV America, Cameron and Tony navigate the complex intersections of the 2026 US economy, where the AI boom is currently offsetting the drag of ongoing tariffs. The duo explores the shifting AI landscape, notably Apple’s decision to build the next Siri on Google Gemini rather than homegrown technology, leaving significant questions about the future of OpenAI. The heart of the show is a “Pulled Pork” deep dive into **AMTD Idea Group (AMTD)**, a company with a fascinating Australian origin story involving the Commonwealth Bank. Despite trading at an unbelievable discount to book value (P/B 0.04), AMTD remains a polarizing prospect due to its controversial leadership under Calvin Choi, a bizarre “Spider Net” ecosystem, and a recent shift from Big Four auditors to a small regional firm in Singapore.
RECENT BLOG POSTS
QAV America Light Update #7
Happy Monday, QAV America. And welcome to all of our new members. This is week 7 of the American...
QAV Value Investing Buy List 2026-02-02
Happy Stockmarket. Here is our U.S. buy list for this week based on our value investing system. As...
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.