Founded in 2000 by Angus Geddes and based in Australia, Fat Prophets is a trusted provider of contrarian equity research and stock recommendations, helping self-directed investors identify undervalued opportunities across Australian shares, global equities and global mining stocks for more than 26 years.
Guided by our See Further, Arrive First™ methodology, members receive institutional-grade investment research, macroeconomic analysis, market insights and actionable stock recommendations designed to remove guesswork, save time and support better investment decisions.
Fat Prophets members-only service includes 3 equity research model portfolios and more than 160Â stock reports and recommendations, which have consistently outperformed major market benchmarks over the long term, delivering value that has historically exceeded membership costs many times over for our members.
Equity research is the process of analysing publicly listed companies to determine their financial strength, valuation, growth prospects and investment potential. Professional equity analysts evaluate financial statements, earnings potential, management quality, industry conditions and macroeconomic factors to identify investment opportunities and provide stock picks and recommendations.
| BENEFIT | INVESTOR OUTCOME |
|---|---|
| Company valuation | Better stock selection |
| Risk assessment | Reduced investment mistakes |
| Fundamental analysis | Improved conviction |
| Market insights | Better timing awareness |
| Portfolio construction | Improved diversification |
| Ongoing monitoring | Faster reaction to changes |
Equity research matters because it provides self-directed investors with professional, data-driven analysis of companies, industries and market trends, enabling them to identify opportunities, evaluate risks and make informed investment decisions based on evidence rather than emotion or market noise.
Professional equity research can improve investment performance by helping investors identify undervalued companies, avoid overvalued or higher-risk investments and make decisions based on fundamental analysis rather than market sentiment. By providing in-house stock analysis, company valuations and ongoing investment insights, equity research supports more disciplined portfolio construction and better long-term investment outcomes.
Quality equity research reduces investment risk by helping investors avoid overvalued companies, identify deteriorating fundamentals, understand industry risks, evaluate management quality and assess balance sheet strength before committing capital.
Fat Prophets offers 3 Equity Research Model Portfolios, each built on the firm’s contrarian investment philosophy and supported by a disciplined combination of macroeconomic analysis, fundamental research and technical analysis to identify attractive investment opportunities:
The Fat Prophets flagship Australasian Equities Portfolio is a research-driven model portfolio giving investors structured, long-term exposure to Australia’s leading ASX-listed companies and targeted exchange-traded funds (ETFs).
Every holding is backed by in-house fundamental research and a clear Buy, Hold or Sell recommendation, as well as risk level so members always know where a stock stands and why.
The model portfolio is designed for self-directed investors seeking long-term capital growth opportunities who want professionally researched core exposure to blue-chip and large-cap Australian shares, complemented by carefully selected ASX-listed ETFs for extra diversification.
Fat Prophets’ Australasian Equities model portfolio delivered a record-breaking, independently verified 84.77% return in 2025.
Since inception in October 2000, the Fat Prophets Australasian Equities portfolio has more than doubled the performance of the All Ordinaries Accumulation Index, 18.92% vs 8.42%. This represents over two decades of sustained outperformance, demonstrating the power of contrarian stock selection approach and disciplined investment methodology. Past performance is not indicative of future performance.
The Australasian Equities Model Portfolio is designed for investors seeking:
Key Benefits of this members-only model portfolio are:
The Australasian Equities Portfolio follows Fat Prophets’ contrarian investment philosophy: looking beyond market sentiment to identify quality large companies that are undervalued, well-managed and positioned to outperform over the long term.
Investors can access the Fat Prophets Australasian Equities Portfolio and many other membership benefits through a Fat Prophets Standard, Premium or Platinum membership plan.
Explore Fat Prophets membership benefits and options and select the plan that provides the level of equity research access you require:
The Fat Prophets Global Equities Portfolio is a research-driven model portfolio designed to help investors look beyond the local market and access the growth, diversification and opportunity available in the world’s leading share markets across North America, Europe, the United Kingdom and Asia — giving them a genuine global lens on where value and growth are emerging.
Every holding is backed by in-house fundamental research and a clear Buy, Hold or Sell recommendation, as well as risk level so members always know where a stock stands and why.Â
The Global Equities Model Portfolio is designed for investors seeking:
Key Benefits of this members-only model portfolio are:
The Global Equities Portfolio follows Fat Prophets’ contrarian investment philosophy: looking beyond market sentiment to identify quality large companies that are undervalued, well-managed and positioned to outperform over the long term.
Ready to start investing beyond Australia? Investors can access the Fat Prophets Global Equities Portfolio and many other membership benefits through a Fat Prophets Standard, Premium or Platinum membership plan.
Explore Fat Prophets membership benefits and options and select the plan that provides the level of equity research access you require:
View Fat Prophets Membership Plans
To trade international shares, you can open an account with our partner CMC Markets, which provides access to 15 global markets. If you join today, you can also receive $300 in free brokerage for domestic trades.
The Fat Prophets Global Mining Portfolio is a research-driven model portfolio designed to help investors access specialist research covering mining and resources companies listed in Australia and internationally.
Every holding is backed by in-house fundamental research and a clear Buy, Hold or Sell recommendation, as well as risk level so members always know where a stock stands and why.
It is built for self-directed investors who want exposure to the commodities that power the global economy — from the precious metals used as a store of value, to the base and bulk commodities that build infrastructure, to the energy resources fuelling the transition to a lower-carbon world.Â
The Global Mining Model Portfolio is designed for investors seeking:
Key Benefits of this members-only model portfolio are:
The Global Mining Portfolio follows Fat Prophets’ contrarian investment philosophy: looking beyond market sentiment to identify quality large companies that are undervalued, well-managed and positioned to outperform over the long term.
Ready to invest beyond Australia with sector-focused opportunities? Investors can access the Fat Prophets Global Mining Portfolio and many other membership benefits through a Fat Prophets Standard, Premium or Platinum membership plan.
Explore Fat Prophets membership benefits and options and select the plan that provides the level of equity research access you require:
View Fat Prophets Membership Plans
To trade international shares, you can open an account with our partner CMC Markets, which provides access to 15 global markets. If you join today, you can also receive $300 in free brokerage for domestic trades.
| PORTFOLIO | COVERAGE | INVESTOR TYPE | STOCK REPORTS | RISK PROFILE | DIVERSIFICATION |
|---|---|---|---|---|---|
| Australasian Equities | ASX & Australasia | Core investors | 60+ | Moderate | Regional |
| Global Equities | International | Growth investors | 65+ | Moderate-high | Global |
| Global Mining | International Resources | Specialist investors | 35+ | Moderate-high | Sector-specific |
A contrarian investing philosophy is an investment approach that involves going against prevailing market sentiment. In simple terms, contrarian investors look for opportunities where they believe the market is overly pessimistic or overly optimistic—and position themselves in the opposite direction. Markets can misprice assets due to investor emotion, short-term thinking and behavioural biases.
Fat Prophets’ equity research team seeks investment opportunities where market sentiment diverges from long-term fundamental value, guided by four core principles of contrarian investing.
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Research-driven investment decisions.
Identify opportunities overlooked by consensus.
Focus on intrinsic value.
Avoid short-term market noise.
With 25 years of experience refining its equity research methodology and framework, Fat Prophets has developed a rigorous five-stage equity research process.
Professional equity research requires more than identifying interesting companies — it requires a rigorous process to evaluate business quality, valuation, risk and investment potential. At Fat Prophets, our five-stage equity research process is guided by a contrarian investment philosophy, using disciplined screening to identify companies that may be misunderstood, overlooked or undervalued by the broader market. Our approach combines detailed fundamental analysis, valuation assessment, investment recommendations and continuous monitoring to uncover long-term opportunities. This disciplined research framework enables our analysts to deliver rigorous investment research, high-conviction stock recommendations and timely market insights for investors seeking superior long-term outcomes.
| STAGES | OBJECTIVE | INVESTOR BENEFIT |
|---|---|---|
| 1. Screening | Identify opportunities | Better idea generation |
| 2. Fundamental Analysis | Assess quality | Improved confidence |
| 3. Valuation | Determine fair value | Better entry points |
| 4. Recommendation | Investment decision | Actionable insights |
| 5. Monitoring | Track developments | Ongoing updates |
Equity research analysts apply a disciplined equity research framework that combines quantitative analysis with qualitative assessment to uncover investing opportunities that may be overlooked or undervalued by the broader market. At Fat Prophets our equity analysts examine company fundamentals, earnings quality, valuation, management performance, competitive positioning and macroeconomic trends to develop a comprehensive investment view and identify attractive long-term investing opportunities.
| FACTOR | DIY | FAT PROPHETS |
|---|---|---|
| Research depth | Limited | Professional |
| Company coverage | Narrow | Extensive |
| Valuation models | Often unavailable | Comprehensive |
| Analyst expertise | Self-directed | Experienced analysts |
| Portfolio guidance | None | Structured |
| Monitoring | Time intensive | Ongoing |
| Investment insights | Variable | Consistent |
It gives investors independent, evidence-based insight, helping them make informed decisions and manage risk instead of relying on speculation or hype.
Equity research can improve investment performance by helping investors spot undervalued stocks, avoid financially weak companies, manage downside risk and build a properly diversified portfolio. Rather than relying on speculation or market noise, decisions are grounded in verified financial data and in-house analysis.
An equity research analyst evaluates listed companies by examining financial statements, industry trends, management quality and valuation metrics to estimate a stock’s fair value. Their work results in evidence-backed recommendations — buy, hold or sell — that help investors decide whether a share is over- or under-priced relative to its true worth.
Stock recommendations are an analyst’s formal opinion — typically buy, hold or sell — on whether a share is worth purchasing based on its current valuation.
Yes. Equity research helps beginner investors build financial literacy and make more confident, evidence-based decisions rather than guessing.
*Important Notes and Disclaimer: Annualised returns since inception in 2000 refer to Fat Prophets’ flagship Australasian Equities Model Portfolio and have been independently verified by PKF (NS) Audit and Assurance Australia Limited Partnership. Past performance is not indicative of future performance.
ASX- Listed Australian Stocks:
29M.AU, ANN.AU, ANZ.AU, BPT.AU, BWP.AU, CKF.AU, CBA.AU, EVN.AU, FID.AU, FMG.AU, GOR.AU, GMG.AU, GNC.AU, HUB.AU, ILU.AU, IGO.AU, JHX.AU, MGR.AU, NAB.AU, PAR.AU, QBE.AU, RRL.AU, S32.AU, SBM.AU, TLS.AU, TUA.AU, WES.AU, WBC.AU, WHC.AU, XRO.AUX, AGL.AX, AMC.AX, BHP.AX, CSL.AX, DMP.AX, GDG.AX, WIRE.AX, ATOM.AX, MQG.AX, NIC.AX, NST.AX, ORI.AX, PDN.AX, RMS.AX, RPL.AX, SFR.AX, STO.AX, SUN.AX, VAU.AX, WTC.AX, WDS.AX, GMD.AX, CSC.AX, RIO.AX, GTK.AX, SPK.AX & NEM.AX
International Stocks:
BIDU.CN, 9888.CN, 1211.CN, 268.CN, 3690.HK, 1818.HK, 9618.CN, ENX.FR, BT.A.GB, GENI.GB, FRES.GB, 9988.HK, 2282.HK, 700.HK, 1128.HK, 1876.HK, 8750, 7011.T, 8306.JP, 8031.T, 8411.T, 3994.T, 7974.T, 8604.JP, 8308, 6758.JP, 8316.JP, 8331.T, JP.8308, HEM.SE, GRAB.SG, BABA.K, GOOG.US, AAPL.US, CDE.US, CPNG.K, FLTRF.L, SIL, URA, BZ.O, MSFT.US, SBSW.K, 2840.HK, TME, GDX, GDXJ.US, YUMC.K, Z.O, IMPUY & ANGPY
