# Mark Ambrose on deep value investing, airplane leases and asymmetric returns

Page: https://stenobird.com/podcast/australian-investors-podcast-594967/mark-ambrose-on-deep-value-investing-airplane-leases-and-asymmetric-returns
Text version: https://stenobird.com/podcast/australian-investors-podcast-594967/mark-ambrose-on-deep-value-investing-airplane-leases-and-asymmetric-returns.md
Podcast: [Australian Investors Podcast](https://stenobird.com/podcast/australian-investors-podcast-594967)
Published: 2026-05-26T21:00:00+00:00
Episode link: https://www.raskmedia.com.au/podcasts/australian-investors-podcast/
Audio file: https://traffic.megaphone.fm/RRKKR6256851430.mp3
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JSON: https://stenobird.com/v1/public/podcasts/australian-investors-podcast-594967/episodes/mark-ambrose-on-deep-value-investing-airplane-leases-and-asymmetric-returns
Duration seconds: 2336

## Resource

In this Australian Investors Podcast episode, Mitchell Sneddon sits down with Mark Ambrose from Global Value Fund to unpack one of the more unusual deep value trades of the COVID era: buying into airplane leases when the aviation market looked uninvestable. Mark explains why GVF was drawn to the setup. The fund was not trying to make a heroic prediction about airlines bouncing back overnight. Instead, the team focused on asymmetry, cash on the balance sheet, the behaviour of forced sellers and the gap between a panic price and a conservative base case. It is a practical look at how deep value investing works when uncertainty is extreme. Mitch and Mark walk through Amadeo Air 4 Plus, how listed aircraft leasing funds were structured, why certain A380 sales mattered so much, and how bespoke valuation work helped frame the risk. They also discuss downside protection, why edge matters more than simply sounding smart, and how shareholder engagement and later takeover interest helped unlock value over time. If you like contrarian investing, fund-manager process and real examples of asymmetric opportunities, this conversation is well worth your time. Episode resources – Speak with the Rask Advice team – Ask a question (select the Investors podcast) Show partner resources – ETF investor? Go beyond ordinary with Global X: View all funds – Visit TermPlus to learn more – Have the chance to win a 5k travel voucher. Take the TermPlus survey here (last entry 31st of May) Rask Resources – All services – Financial Planning – Invest with us – Access Show Notes – Ask a question – We love feedback! Follow us on social media – Instagram: @rask.invest – TikTok: @rask.invest DISCLAIMER: This podcast contains general financial information only. That means the information does not take into a…

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