It's been a rough month for the All Ordinaries Index (ASX: XAO) and most ASX All Ords shares, despite the rebound we've seen over the past few trading days. Since this time last month, the All Ords is still down by more than 2%. That's despite the index gaining an impressive 2.2% since last Wednesday.
This could mean that it's a great time to take another look at the pricing of our favourite ASX All Ords shares. After all, the great Warren Buffett is famous for telling us to "be greedy when others are fearful". So today, I'm going to name my top All Ords pick for the best share money can buy right now.
It's none other than Washington H. Soul Pattinson and Co Ltd (ASX: SOL).
If you aren't familiar with Washington H. Soul Pattinson, or Soul Patts for short, this company is a century-old investing house. It owns a huge portfolio of underlying assets, including ASX shares, private equity, private credit and property, that it manages on behalf of its investors.
My conviction that Soul Patts is the best ASX All Ords share you can buy today rests on three traits this company can boast of.
Why I think Soul Patts is the best All Ords share money can buy today
The first is that Soul Patts has delivered a market-crushing performance for its shareholders for decades. In the company's full-year earnings that we got a look at last month, Soul Patts informed the markets that its shareholders have enjoyed a total return (share price growth plus dividends) of 12.5% per annum over the 20 years to 31 July 2023.
That smashes the All Ords Accumulation Index benchmark, which has delivered an average return of 9% per annum over the same period.
The second is Soul Patts' unrivalled dividend prowess. This company is the only ASX All Ords share that has given its investors an annual dividend pay rise for 23 years and counting. Yep, Soul Patts has upped its dividend every single year since 2000.
I think this is one of the most powerful indications out there that this company knows how to compound its assets effectively over long periods. Not only does this give Soul Patts incredibly strong financial foundations, but it also rewards shareholders time and time again.
The third is Soul Patts' recent share price performance. It was only in the middle of last month that this company minted a new 52-week high of $35.82 a share. But today, those same shares are trading at $33.73 at the time of writing. That's down almost 6% from that 52-week high.
Given this company's quality, I think any dips of this magnitude represent compelling buying opportunities for both existing and new investors.
So all in all, I view Soul Patts as the best ASX All Ords share money can buy today. Its quality is there for all to see. And when combined with a share price sell-off, we have ourselves a great place to invest for long-term returns right now.
