More than a decade has passed since I first purchased a holding in ARB Corporation, a manufacturer and marketer of 4WD accessories. ARB regularly features on lists of Australia’s best businesses and, for value investors, is up there with CSL and Flight Centre – added to our Buy List late last year (and our portfolios in February) although since downgraded to Hold – as a supremely well-managed company.
Since then, ARB has been one of my better performers. Purchased at around $3.30, it now trades above $16.50. I’d like to say this was down to good judgement, albeit vicariously (thank you, Gareth Brown). The truth is less complimentary. I got lucky.