Buy Hold Sell, by Livewire Markets: Recent Episodes
Livewire Markets
A Livewire reader recently reached out to us to suggest now is the time for investors to be looking for those durable businesses that could offer some resistance to things like AI, rate hikes and oil prices.
The ASX industrials sector seems an obvious place to look, given it's full of stable companies that have endured through the years. But many industrials stocks are also directly exposed to those same macro factors that have help make equities markets a bit of a minefield.
So how do you find the stocks that can deliver resilience?
In this episode of Livewire's Buy Hold Sell, Hailey Kim from Wilson Asset Management and Daniel Moore from IML join Livewire's Tom Stelzer to dive into three heavyweight industrial stocks that could offer that durability right now, as well as a pick each of their own.
The Telstra outage of a few weeks ago was a fitting bookend to FY26 the ASX communications sector. It may have fared better than tech and healthcare, but the sector ended the financial year down 12.5% as macro, structural and cyclical threats took their toll.
So what does the next year offer?
In this episode of Buy Hold Sell, Livewire's Tom Stelzer is joined by IML's Daniel Moore and Wilson Asset Management's Hailey Kim to dissect three communication names and decide if they're worth picking up or letting go through to voicemail.
They also each bring a stock pick of their own - one an entertainment business with strong assets and a beaten-down market leader with double-digit earnings growth.
Late last year, more than 2,700 Livewire readers nominated their favourite income stocks for the year ahead. We already ran the ruler over the first half of that list - you can find that episode here. Now we're back for the second half.
A lot has changed in the past six months, so there's no better time to take stock, so to speak. Geopolitical tensions have rattled commodity prices, bond yields have pushed higher, and the question of what actually makes a reliable income stock has never felt more relevant. A high yield can be a gift, or it can be a trap.
In this episode of Buy Hold Sell, Hugh Dive from Atlas Funds Management and Jason Teh from Vertium Asset Management are back to debate the remaining names on the reader-favourites list, separating the sustainable stories from those whose thesis haven't aged as well as investors might have hoped. They also share one income idea each to freshen up the list for the second half of the year.
This episode was filmed Wednesday 22nd July 2026.
Every relationship has its ups and downs.
And every year, misunderstandings, broken promises and poor behaviour create a special list that no company wants to end up on - the Dogs of the ASX.
These are the stocks that have been punished by the market and banished to the proverbial doghouse.
This list is based on the "Dogs of the Dow" strategy, popularised by Michael O'Higgins in the early 90s - a systematic bet on mean reversion. Buy the worst performers from a large-cap index and wait for them to come back. The trick is picking which ones actually will.
Hugh Dive from Atlas Funds Management has been tracking the Dogs of the ASX since 2011. In his FY26 breakdown, he notes that last year's cohort returned 66%.
What makes this year's list unusual is the names on it. WiseTech, Xero, CSL, Pro Medicus...stocks that not long ago would have sat at the top of every quality growth manager's portfolio. Much like a bad breakup, it's not always fair or justified, and it's not always the full story.
In this episode of Buy Hold Sell, Hugh and Jason Teh from Vertium Asset Management debate four of the biggest dogs in the top 10 and share their turnaround picks.
This episode was filmed Wednesday 22nd July 2026.
As anyone paying even cursory attention to markets would know, the ASX tech sector has had a rough trot over the past year, down 37% as AI upheaval and rising rates took their toll.
But not every stock in the sector has been dragged down with it, and the upcoming August reporting season is shaping up as a key test of who's actually benefiting from AI versus who's being eaten by it.
In this episode of Buy Hold Sell, Elise McKay of Pendal and Shaun Weick of Wilson Asset Management join Livewire's Tom Stelzer to analyse three of the biggest ASX tech names that each sit on different branches of the AI tree.
One is a standout performer up more than 70% year-to-date, one is a software name some have already declared dead as an AI casualty, and one is a data centre name smack bang in the middle of the infrastructure boom.
They also each nominate a tech stock they're backing, including one that could be the next big Australian medtech success story.
This episode was filmed Wednesday 15th July 2026.
It's a tough time for many consumers as the forces of rising rates, stubborn inflation and other macro complications have seen Australia's cost-of-living crisis rumble on.
It's a good thing then that there's still plenty of consumer discretionary stocks showing strength, even if the outlook for the sector remains more uncertain.
In this episode of Buy Hold Sell, Livewire's Tom Stelzer is joined by Elise McKay from Pendal and Shaun Weick from Wilson Asset Management to make the call on three ASX consumer stocks that could still be potential buys despite the challenges.
They've also brought two very different choices as their picks for a consumer stock to watch right now.
There's no two ways about it. If you weren't holding materials stocks over the past 12 months, you missed a trick.
The sector surged more than 45%, blitzing its nearest competitor (consumer staples up ~11%) and outperforming every other positive sector... combined.
The sector was powered by insatiable demand for commodities from the AI infrastructure build-out.
Gold, silver, copper, platinum and palladium all enjoyed significant price increases, whilst iron ore - still the backbone of the Australian mining sector - didn't suffer the price falls many were expecting. But the stellar performance begs the natural question - can the rally keep going?
To explore that question, run the ruler over some of the winners, and each pitch a stock they're backing for the year ahead, Livewire Tom Stelzer is joined by Stephane Andre from Alphinity and Dougal Maple-Brown from Maple-Brown Abbott.
Please note this episode was filmed on 1 July 2026.
The energy sector has been front and centre for much of the last 12 months, as AI demand and the war in Iran have seen demand surge and prices jump around.
That's been good news for many of local names, with the ASX Energy sector up 11% this year, but is there any charge left in the battery?
In this episode of Buy Hold Sell, Livewire's Tom Stelzer is joined by Dougal Maple-Brown from Maple-Brown Abbott and Stephane Andre from Alphinity Investment Management to see if they're positive or negative on some interesting ASX energy names.
In a rare turn of events, we've also got a double fundie stock pick. Find out which stock has got the joint tick of approval and why by watching the episode below.
Just weeks ago, markets were pricing in the risk of a prolonged conflict in the Middle East, with oil surging as investors feared disruptions to global supply. Today, much of that geopolitical risk premium has unwound. Brent crude has retreated to around its pre-war levels following a US-Iran peace agreement, even as fresh flare-ups serve as a reminder that the situation remains far from settled.
Whether the recent pullback in oil proves temporary or not, investors are already asking the next question: who stands to benefit? The obvious winners are businesses with large fuel bills. But lower oil prices can ripple through the economy in unexpected ways, easing input costs and lifting consumer spending.
Joining Livewire’s Anna Dadic are Henry Jennings from Marcus Today and Michael Wayne from Medallion Financial, to debate four stocks that could be lesser-known beneficiaries of the recent retreat in oil prices, examining whether they offer compelling exposure to cheaper energy, or whether the market has already priced in the upside.
We also asked each guest to nominate a stock they see as an unexpected winner from the fall in oil prices.
This episode was filmed Wednesday 24th June, 2026.
Short sellers are often described as the smartest money in the room. They borrow shares, sell them on market, and actively bet that the price will fall.
Get it right and the returns can be substantial. Get it wrong and the losses are theoretically unlimited. Just ask the person on Reddit who shorted Korean fried chicken companies then lost it all when pictures of Jensen Huang eating fried chicken in Seoul went viral. I think about them often. Mostly I think - what were they thinking.
In this episode of Buy Hold Sell, we are joined by Michael Wayne from Medallion Financial and Henry Jennings from Marcus Today to work through six of the ASX's most heavily shorted stocks right now.
As Jennings puts it, a big short position doesn't necessarily mean something is wrong, sometimes it's just an easy target. But when you're looking at short interest north of 20% and days to cover that stretch into months of normal volume, there's usually a story underneath that’s worth knowing about.
This episode was filmed Wednesday 24th June, 2026.
As equity investors, we're always aiming for better-than-average - otherwise we'd just buy a low-cost index ETF and be rid of the vagaries of individual stocks (but what fun would that be?!?!)
No, playing the game of the market, we want - even need - stocks in our portfolio that deliver above-average performance, if for no other reason than to cover the laggards.
With the new financial year about to roll over, it’s time to cast our eyes ahead and think about companies that can deliver for us in the coming 12 months.
In this episode, Livewire's Chris Conway is joined by Yarra Capital Management's Marcus Ryan and ClearBridge Investment's Reece Birtles, who each pitch three stocks that they believe are poised for a big year ahead.
That's right, it's six straight-up buys, with the guests talking passionately about the stocks in their portfolios.
For good measure, they also share one stock they'll likely avoid over the next 12 months.
This episode was filmed on Wednesday, 17th June 2026.
There are a few moments throughout the financial year that lend themselves to a portfolio review.
While investors should always remain diligent, January 1 provides a fresh opportunity to cast a critical eye over one's holdings, while the February and August reporting seasons offer another chance to decide which companies continue to make the cut.
But perhaps EOFY trumps them all, particularly due to tax-loss selling, where investors realise capital losses on underperforming investments to offset capital gains elsewhere in their portfolios and reduce their overall tax bill.
Most of the treatment above, however, focuses on the losers. What about the winners? What about those stocks that have had a ripping 12 months and become the stars of your portfolio?
Can they continue to outperform, or was the past year as good as it gets?
To help answer those questions and run the ruler over five of FY26's top performers, Livewire's Chris Conway is joined by ClearBridge Investment's Reece Birtles and Yarra Capital Management's Marcus Ryan.
For good measure, each guest highlights one company that has had a great 12 months that they believe will kick on in FY27.
This episode was filmed on Wednesday, 17th June 2026.
What are Australia's best income stocks?
To kick off Livewire's Income Series, we asked more than 2,700 investors to nominate their favourite income stocks and investments. The results included household names like BHP, Commonwealth Bank, Telstra and Washington H. Soul Pattinson, alongside a handful of small-but-mighty dividend payers that punched well above their weight.
In this episode of Buy Hold Sell, Matthew Kidman is joined by Jun Bei Liu from Ten Cap and James Gerrish from Market Matters to run the ruler over six reader-voted income favourites.
Timestamps:
- 00:00 – Income is back
- 00:58 –BHP
- 03:25 – Commonwealth Bank
- 05:43 – Telstra
- 07:33 – Washington H. Soul Pattinson
- 10:18 – Dalrymple Bay Infrastructure
- 12:30 – Dicker Data
- 14:52 – James Gerrish's top income stock
- 16:25 – Jun Bei Liu's top income stock
- 17:51 – Wrap up
Plus, each fund manager reveals their favourite income stock today, including a high-yield property trust and a retirement income specialist benefiting from Australia's ageing population.
The key question: Is it better to chase the highest yield, or focus on businesses capable of growing their earnings, dividends and capital value over time?
You can see an edited transcript or a video version of this episode here: https://www.livewiremarkets.com/wires/buy-hold-sell-the-6-income-stocks-readers-love-plus-2-expert-ideas
The countdown is on to the FIFA World Cup and so what better way to join the party than by putting together our own best XI of ASX stocks.
In this special edition of Buy Hold Sell, we've asked First Sentier Investors' Dushko Bajic to take on the role of manager and select a starting team of 11 ASX stocks he thinks can deliver on the pitch.
It's a lineup that is looking to deliver everything you need to win - solid leadership, genuine experience, strong vision, versatility and a bit of X-factor.
But which Aussie stocks are getting the call-up and which are being left at home? Which companies can deliver the right balance of attack and defence? You'll have to tune in to find out.
And for the football fans out there, Dushko also shares his prediction for how the Socceroos are likely to get on when the World Cup kicks off in North America this week, and the team he thinks will be crowned world champions when everything is said and done.
Let's kick off.
The great ASX tech unwind has been brutal.
After years of premium valuations, strong growth and near-bulletproof market faith, some of Australia’s best-known software and technology stocks have been dragged back to earth. The trigger? A mix of stretched multiples, slowing growth, investor fatigue and, increasingly, the disruptive threat of artificial intelligence.
The five names in this episode – Life360 (ASX: 360), Pro Medicus (ASX: PME ), Xero (ASX: XRO), TechnologyOne (ASX: TNE) and WiseTech Global (ASX: WTC) – fell an average of around 65% from their highs to their lows. More recently, however, they have recovered an average of around 30%, with one stock now just 26% off its all-time high.
So, is this the beginning of a genuine turnaround? Or just a relief rally in a sector still facing uncomfortable questions?
In this special episode of Buy Hold Sell, Matthew Kidman returns as host for the first time in three years, alongside two familiar faces: Jun Bei Liu from Ten Cap and James Gerrish from Market Partners. Together, they run the ruler over five ASX tech leaders caught in the ‘SaaS-pocalypse’, and each names one beaten-up tech-related stock they believe is down, but not out.
This episode was filmed on Wednesday, 10 June 2026.
Are you finding equity income investing harder than it used to be? Well, you're not imagining it.
For years, income investors could build a portfolio of quality ASX dividend stocks and generate an attractive income stream without taking excessive risk. Today, that task has become far more challenging - but not impossible.
The ASX's yield has fallen well below historical averages, bank share prices have rallied hard, and many of the market's traditional income favourites simply do not offer the yields they once did. At the same time, higher bond yields and attractive cash rates have given investors more alternatives than they've had in years.
So where can investors still find reliable income on the ASX? And which stocks continue to offer attractive yields without taking on undue risk?
In this special Income Series edition of Buy Hold Sell, Livewire's Tom Stelzer is joined by two ASX equity income gurus, in Peter Gardner from Plato Asset Management and Michael O'Neill from IML.
The pair run the ruler over eight ASX income stocks drawn Carl Capolignua's list of the market's most consistent dividend payers (last year's edition below. Carl will update again this series).
At any given point in the market cycle, there are certain sectors and themes where investors go hunting for growth. Sometimes it’s driven by disruption. Sometimes it’s recovery. And sometimes it’s simply because the market has become too pessimistic about quality businesses with long runways ahead of them.
Right now, a few pockets of the ASX are attracting attention. Fintech and financial infrastructure businesses are trying to prove they can scale profitably. Software and SaaS names are attempting to emerge from one of the sharpest valuation resets in recent memory. And in healthcare and medtech, investors are once again searching for companies capable of delivering structural growth in an uncertain economic environment.
In this episode Livewire’s Chris Conway is joined by Oscar Oberg from Wilson Asset Management and Alex Shevelev from Forager Funds Management to run the ruler over some of the stocks and sectors they believe could be poised for growth.
From beaten-up software names to healthcare innovators and financial infrastructure plays, this episode is packed with ideas for investors.
This episode was filmed on Wednesday, 20th May 2026.
In the wake of the budget and the proposed CGT changes, there has been plenty of spirited debate about the future of growth investing in our great country. And rightly so.
But let's get real. Whatever we might think about the changes, Aussies will still create and invest in great growth businesses. It's in our blood.
No tax change is going to completely crush home-grown innovation - the very innovation which brought us the Coolgardie cooler, the Hills Hoist, the Cochlear implant, and WiFi. Oh, and Tim Tams... mustn't forget the Tim Tams.
Typically, these great growth stories are born from the small-cap end of the market, so in this episode, Livewire's Chris Conway is joined by Oscar Oberg from Wilson Asset Management and Alex Shevelev from Forager Funds Management, who each bring three stocks they believe have big potential.
That’s right, it’s going to be wall-to-wall buys for this episode so strap in, and let's go!
This episode was filmed on Wednesday, 20th May 2026.
While much of the market has been nursing its wounds in 2026, the financial sector has been quietly holding up. But nothing stays comfortable forever.
With a fresh rate hike hitting the market and bank valuations looking increasingly stretched, one of our guests this week puts it best - the banks are running on Wile E. Coyote physics. Off the cliff, still running - just haven't looked down yet.
So where does the smart money go from here? Because if the bank trade is getting crowded, the case for rotating into other parts of the sector, insurance in particular, is building fast. Higher rates, a more benign catastrophe environment, and valuations that haven't re-rated yet. It's a combination that's hard to ignore.
To work through it all, I'm joined by Julia Weng from Paradice Investment Management and Hamish FitzSimons from AllianceBernstein. Between them, they'll be analysing five stocks in the sector and sharing one high conviction pick each for where they see the real value.
Inflation, shifting rates, and volatile oil prices have served up a "vicious cocktail" for investors. While many of 2025’s high-flyers have come back to earth, the dynamic small and mid-cap market remains a breeding ground for opportunity.
In this episode of Buy Hold Sell, Chris Prunty (QVG Capital) and Chris Stott (1851 Capital) go head-to-head on five stocks from the growth engine of the ASX.
They run the ruler over three "fallen angels" ripe for a rebound, two names testing 52-week highs, and reveal the "steady compounders" they’re backing for the year ahead.
Plus, we break down the must-know takeaways from the Macquarie Conference.
For years, the ASX healthcare sector was the picture of health itself - a compounding growth story that investors treated as a set-and-forget holding. Then came a brutal twelve months. The sector has shed nearly 40%, with former darlings and long-standing heavyweights hitting lows not seen in a decade. The causes aren't simple, and perhaps most disorienting is the ‘defensiveness’ that investors paid a premium for has simply stopped working. As one of our guests in this week's episode says, to quote The Castle - "The vibe is off." To work through the prognosis, Livewire's Anna Dadic is joined by Julia Weng of Paradice Investment Management and Hamish FitzSimons of AllianceBernstein. In this episode, five sector stocks are put under the microscope. Our guests unpack the sell-off, make the case for where the stock-picking opportunities lie, and as always, share a high-conviction pick of their own. This episode was filmed Wednesday 6th May 2026.
This episode was filmed Wednesday 22nd April, 2026.
Human nature pulls us toward the bargain, the beaten-up, the overlooked. Who doesn't love a sale? Buying a stock that's already doubled feels wrong. Dangerous, even. But some of the best money made has come from backing winners that just kept winning.
The first half of 2026 has been a wild ride. The broader market has been middling at best. But beneath the surface, a handful of small and mid-cap stocks have defied the macro gloom entirely - Codan and Cuscal are just two names that have more than doubled in the past year, leaving investors on the sidelines wondering whether they've missed the boat altogether.
So have they? Or is the rally just beginning?
To help make sense of the top performers of the year so far, Anna Dadic is joined by two fund managers who know this space better than most. Lucas Goode from IML and Ben Rundle from Hayborough Investment Partners. Between them, they run the ruler over five of the ASX's biggest high flyers of the year so far and we ask the question every investor is thinking: is there still fuel in the tank to keep flying?
Let's find out!
When Archimedes had that famous bath and watched the water rise, he didn't just solve a problem - he had one of history's great moments of innovation. A completely new way of seeing something that had always been there.
Investors are on a similar hunt. Figuring out the pure gold in the market, the companies that are genuinely reimagining their industries, the true innovators that have the potential to become the market leaders of tomorrow. The trouble is, telling real innovation from a good story is hard at the best of times. And right now, with small and mid-caps taking a beating since the onset of the war in Iran, the market is anything but straightforward.
Do you chase macro tailwinds? Hunt for quality growth names that have been unfairly sold off? Or play it safe and wait for the dust to settle?
To help work through those questions and to find where the genuine "eureka!" moments might be, Anna Dadic is joined by Lucas Goode from IML and Ben Rundle from Hayborough Investment Partners to run the ruler over some stocks and share one high conviction pick for the year ahead.
Let's go find some gold!
This episode was filmed Wednesday 22nd April, 2026.
In the first two episodes of this commodities-focused Buy Hold Sell series, we zeroed in on the obvious plays – gold, and oil and gas – the parts of the market dominating headlines and investor attention.
But as is often the case in commodities, the real opportunity set runs much deeper. Lithium has staged a sharp comeback, tin and manganese prices have surged over the past year, and key industrial metals like copper and even iron ore continue to trade at elevated levels.
So in this episode, we flipped the format. Rather than focus on a single commodity, we asked our guests – Rick Squire from Acorn Capital and Emanuel Datt from Datt Capital – to each bring three of their highest-conviction commodity stock ideas.
No themes, no hypotheticals – just six big buys and the reasoning behind them, from two of the country’s most respected resource investors.
This episode was recorded on Wednesday, 8th April 2026.
The world is meant to be moving away from oil and gas, yet we are consuming more of it than ever.
Global oil demand is now running at more than 102 million barrels per day, above pre-pandemic levels, and expected to continue growing according to the International Energy Agency. At the same time, oil and gas still account for roughly 55% of global energy consumption, underscoring just how far the transition still has to run.
That’s not to say the shift isn’t happening. Renewables now generate close to 30% of global electricity, and clean energy investment has surged past US$2 trillion annually, well ahead of fossil fuels. But here’s the catch: existing oil fields decline at around 5–7% per year, meaning fresh supply is constantly needed just to stand still.
Recent events have made that juxtaposition impossible to ignore - just ask anyone who has filled up their car at $2.50+ per litre in recent weeks.
The conflict in the Middle East has provided a sharp reminder that, for all the progress, the global economy remains deeply reliant on hydrocarbons. Australia remains one of the world’s largest LNG exporters and is home to globally competitive oil and gas producers across the market cap spectrum.
In this episode, Acorn Capital’s Rick Squire and Datt Capital’s Emanuel Datt discuss the energy market and run the ruler over four ASX oil and gas stocks.
This episode was recorded on Wednesday, 8th April 2026.
Gold has had a remarkable 12 months.
From the low in May-June last year, around US$ 3,500 an ounce, to the high of the January 2026 spike, around US$5,400 an ounce, the precious metals rallied almost 70%.
It was during this period that lines formed in Martin Place outside ABC Bullion.
Then, gold got the wobbles - particularly as war broke out in the Middle East. Whilst it didn't fall in a straight line, the precious metal fell from US$5,400 to a low of US$3,800 by late March - a 20% wipeout.
With a tentative ceasefire in place and normal programming (i.e. US dollar weakness, inflation expectations easing, lower rates) potentially resuming, gold could be experiencing a reboot, where investors pile back in at a significant discount to where we were just a couple of months ago.
Regardless of what the gold price does, there are a handful of ASX-listed miners that should be able to generate significant cash flow given their low costs, operational efficiency, and healthy margins.
In this episode, Acorn Capital's Rick Squire and Datt Capital's Emanuel Datt run the ruler over four such names for your consideration.
This episode was filmed on Wednesday, 8th April 2026.
Sometimes, you get tired of the chicken parmy and start looking for a truffle pasta instead - you know that feeling?
While there are plenty of advantages to investing on home turf, and many Australians do exactly that, for investors chasing genuine long-term growth, the local menu can feel increasingly narrow.
With the ASX still heavily anchored to ex-growth banks and miners, and a tech sector that has been hit hard by the AI shake-up, the case for looking offshore in search of growth opportunities has perhaps never felt stronger.
In this episode of Buy Hold Sell, we put five global growth stocks in the spotlight, spanning big tech, semiconductors, e-commerce, aerospace and streaming. Livewire’s Tom Stelzer is joined by Vihari Ross from Antipodes and Casey McLean from Magellan Investment Partners for a look at the big global growth names - some household names, some less familiar - worth watching now.
This episode was filmed Wednesday 11th March 2026.
AI, energy, infrastructure and defence might look like separate mega trends, but like a giant flywheel, they’re increasingly feeding into one another, creating a feedback loop that is reshaping industries, investment opportunities and the global economy.
The AI boom isn’t just driving demand for semiconductors and cloud computing, it's also triggering a surge in electricity demand, forcing utilities and governments to invest heavily in power generation and grid infrastructure.
On top of that, war and rising geopolitical tensions is driving a structural increase in defence spending, with technology, semiconductors and strategic infrastructure playing a bigger role in modern defence systems.
In markets, this means that the biggest opportunities can often sit not in a single theme, but in the spaces where these trends overlap each other.
In this episode of Buy Hold Sell, we ask Vihari Ross of Antipodes and Casey McLean of Magellan where they see the best value across the biggest trends shaping markets today and which megatrend could drive the next wave of opportunity.
The Magnificent 7 are starting to look a bit like a boy band past its peak. (Think the Beatles, NSYNC, BTS...pick your era.) At their height, the hype is intoxicating. The name up in lights, the style, the choreography of the market moving to their beat. For a while, everyone agrees - they’re untouchable.
But nothing stays loved in the limelight forever, and sentiment can turn quickly.
Doubts around AI leadership and an overcrowded trade have made investors pause on tech, while sectors like energy, materials and industrials have started outperforming. And when the gloss fades, as we saw in the pullback earlier this year, the next question that naturally gets asked is - what else is out there?
Well friends, here at Livewire, we’re here to tell you - quite a lot!
In this episode, we’re casting our eyes past the Magnificent 7 and instead focusing on the global megacaps that have been stuck in the Mag 7's shadow.
And we’ve brought in two of the best in global equities - Vihari Ross of Antipodes, and Casey McLean of Magellan - to talk through the other members of the trillion-dollar club (and the ones knocking on the door.)
This epsiode was filmed Wednesday 11th March, 2026.
There are two things you want out of a good income stock - a solid yield and the ability to grow that yield over time.
In this episode of Buy Hold Sell, Livewire's Chris Conway hosts Peter Gardner from Plato Asset Management and Sean Roger from Perpetual to run the ruler over five dividend stocks with better-than-market yields and expected dividend growth.
We ran a screen that filtered companies with a market cap above $1 billion, offering a one-year forward yield of more than 4% (better than the market) and projected dividend growth based on consensus earnings forecasts.
The screen threw up some interesting names across consumer discretionary, financial services and transport, but are these stocks worth adding to your watchlist, according to the pros? Find out here.
The yield on the ASX has now been below 4% for quite some time, but that doesn't mean there's no income opportunities for Australian investors ready to do the work.
In this episode of Buy Hold Sell, Livewire's Chris Conway hosts Peter Gardner from Plato Asset Management and Sean Roger from Perpetual to discuss whether we're in a structurally-lower income environment or whether it's just a lull.
They also reveal the sectors where they're still finding reliable income and what they're avoiding right now. Finally they each share one ASX income stock idea the rest of the market might be missing for 2026.
Strong dividends have always been one of the ASX's big calling cards, so it might surprise you to learn that Australian dividends actually shrank 6.7% to $63.5 billion in 2025, according to the Capital Group Global Equity Study.
Now reporting season has thrown up some solid dividend results from Telstra, Woolworths, BHP and Evolution Mining to name a few, and our biggest income stocks - namely the banks and miners - are delivering strong returns.
So will 2026 be a return to form for Aussie income stocks, and which are the companies that should be top of your radar?
In this episode of Buy Hold Sell, Peter Gardner from Plato Asset Management and Sean Roger from Perpetual join Livewire's Chris Conway to give their ratings on some of the most-tipped income stocks for 2026 from our readers and share a pick of their own.
It was the best of times, it was the worst of times.That might be the best way to sum up the February reporting season at the headline level. Of course, there is more nuance to it than that.
The top end of town - the banks and miners in particular - enjoyed solid results and, often, spectacular share price moves; Woolworths up 14%, anyone? Throw into the mix a record high for BHP and a resurgent Commonwealth Bank, as the strong got stronger - 'twas the best of times.
At the other end of the spectrum, if you disappointed the market - even by a smidge in the case of a company like ZIP - you got hammered. This is not a new theme, given recent season history, but certainly a more pronounced one. 'Twas the worst of times.
If that wasn't enough to navigate, casting a pall over the entire season was the chaos agent that is change. More specifically, AI-disruption, which apparently is threatening most small and mid-cap business models, while the top 20 are somehow immune.
To help unpack one of the most colourful and important reporting seasons in the last decade, guest host, CommSec's James Gruber, was joined by David Lloyd from Ausbil Investment Management, and Dushko Bajic from First Sentier Investors.
They discuss the big themes, key takeouts and, of course, all the big stocks - from the winners to the losers, and everything in between. If you're an investor in ASX stocks, you cannot miss this episode of Buy Hold Sell.
This episode was recorded on Thursday, 26 February 2026.
As part of our 2026 Outlook Series, we asked you for your picks of the top ETFs for the year ahead, and in a recent episode of Buy Hold Sell, we ran the ruler over five of the most-picked ETFs.
But we like to keep our guests on their toes, which is why we're back with a bonus round of Buy Hold Sell to run through nine more of the ETFs that made the list.
Back in the BHS hot seats are Daniel Kelly of Viola Private Wealth and Adam Dawes of Shaw and Partners to give the quick fire calls on ETFs covering everything from gold miners to Asian tech.
2 guests. 9 ETFs. 4 minutes. Hear how they got on.
This episode was filmed on Wednesday, 11 February 2026.
AI. It's all anyone is talking about, and whether you love it or loathe it, you're probably going to have to hear about it for a while yet (i.e. forever).
But whether you choose to invest in it? That's another story.
Let's be real. Investors of all stripes - from retail punters to institutional shops with trillion-dollar balance sheets - have lost their minds over AI. Yes, there will be winners. But there will also be body bags. That’s how every tech revolution works.
So what is the play?
Do you ram as much AI into your portfolio as you can and back the builders of the future? Or do you position in themes tied to timeless human needs like eating, building and moving?
In this episode, Daniel Kelly from Viola Private Wealth and Adam Dawes from Shaw and Partners run the ruler over three ETFs offering direct AI exposure and three designed to be resilient, whether the robots deliver or disappoint. This episode was filmed on Wednesday, 11 February 2026.
With so much choice on the ASX for building an ETF portfolio, the challenge is in construction. How do you combine ETFs in a way that makes sense for where you are in your investing journey? And how should that mix evolve as your knowledge, confidence and capital grows?
In this episode, Tom Stelzer is joined by Daniel Kelly of Viola Private Wealth and Adam Dawes of Shaw and Partners to build three ETF portfolios from the ground up: one for beginners, one for intermediate investors and one for those ready to step into more advanced territory.
Starting with low-cost, broad-market exposure ETF options, our panel explores how investors can begin layering in more targeted sector and thematic exposures as their portfolios mature, before heading into sophisticated territory, unpacking geared strategies and listed alternatives, where risk, correlation and portfolio construction become even more critical.
This episode was filmed Wednesday 11th February 2026.
ETFs have become the building blocks of modern portfolios, offering instant diversification, liquidity and low-cost access to everything from global blue chips to niche thematics. But with a veritable supermarket of options now available on the ASX, choosing the right ETF is no easy task.
In this episode, Livewire’s Tom Stelzer is joined by Daniel Kelly of Viola Private Wealth and Adam Dawes of Shaw and Partners to give us their verdicts on some of the ETFs most tipped by Livewire readers for 2026.
We cover ETFs from global quality and cybersecurity, to Australian high yield, copper miners and the world’s largest listed companies.
As always, each guest also brings one ETF idea of their own for the year ahead offering two very different ways to position for 2026 - one taking advantage of the beaten-down ASX tech sector and another set to benefit from a geopolitically charged environment.
This episode was filmed Wednesday 11th Febraury 2026
If you’ve ever watched a race, there’s usually someone trailing well behind the pack. The limelight belongs to the winners, of course, but there’s always a mix of second-hand embarrassment and sympathy for the poor sod trying and failing to catch up.
Growth investing can feel much the same. Miss the starting gun, and you may have already missed the early and most powerful part of the rally.
In this episode, Anna Milne from Wilson Asset Management and Blake Henricks from Firetrail Investments explain how they identify early-stage growth opportunities and more importantly, how they distinguish early-stage businesses with long growth runways from those that are simply cheap.
A key insight they agree on is that successful early growth investing starts with a deep understanding of the business itself, built through direct engagement with the company, not just financial metrics.
They each share two under-the-radar growth stocks they rate as buys, along with the investment thesis behind them. This is an all-buys episode, so keep your watchlist handy.
Please note this episode was filmed Wednesday 28th January, 2026.
To paraphrase Gordon Gecko, growth is good.
But not all growth opportunities are created equal (just ask ASX tech investors right now), and after a year in which some growth stocks soared while others stalled, what's the outlook for growth this year, and how do you take advantage?
To answer those questions and more, we welcomed Anna Milne from Wilson Asset Management and Blake Henricks of Firetrail Investments to cover off all things growth stocks.
They reveal how they're handling the current market rotation, what they actually look for in growth-oriented companies and the thinking that goes into deciding when to sell.
They also each share their top pick for an ASX growth stock in 2026.
Please note this episode was filmed Wednesday 28th January, 2026.
Welcome back to a new year of Buy Hold Sell.
At the end of last year, we asked you, our Livewire readers, to tell us what your most-tipped growth stock will be for 2026. It was our 10th year running the survey, with nearly 5,000 responses, and we crunched the numbers to see which names emerged as clear favourites.
So for our first episode of the year, we asked our guests, Anna Milne from Wilson Asset Management and Blake Henricks of Firetrail Investments, to run the ruler over five of your most popular stocks from the results.
We also asked our guests to bring the stocks they think should have made the list and you should most certainly add to your watchlist.
Despite the noise, 2025 has quietly thrown up plenty of opportunities for investors.
Anyone switched on enough to play the Resources rebound, the generational gold trade, the small cap surge or even the CBA rally (before things cooled off) has probably done pretty well for themselves this year.
While many investors sat on their hands over AI and bubble fears, or licked their wounds following the Liberation Day correction, others took the chance to act and reaped the benefits.
Fortune favours the bold, or at least those willing to think outside the box. So as we prepare for the clocks to tick over to 2026, what are the big opportunities out there for investors looking to outperform over the next 12 months?
As part of our 2026 Outlook Series, we asked nine leading fund managers to share the biggest investment opportunity they've identified for next year.
Markets love a good story. And for most of 2025, it’s been the same story everywhere.
A handful of mega-cap stocks have driven the majority of equity market returns in the US, and a similar pattern has been evident here in Australia, where blue-chip heavyweights have dominated the spotlight.
In both jurisdictions, hundreds of profitable companies have been ignored, and that’s how overlooked stocks are born. These are not broken businesses, just forgotten ones.
Later in the year, investors started to move down the market-cap spectrum - particularly in Australia, where small-caps have caught a bid.
As leadership continues to broaden and fundamentals regain the spotlight, those ignored names can re-rate fast.
With 2026 now underway, we asked 10 leading fund managers to look beyond the obvious and share the overlooked stock they believe could surprise on the upside.
These interviews were filmed on Tuesday, 9 December 2025.
Every year, markets have a habit of humbling consensus. Industries written off as “uninvestable” can quickly turn into the best-performing trades on the board, while last year’s darlings quietly fall out of favour. And 2025 was a textbook example.
Few investors began the year expecting gold, defence, critical minerals or uranium to deliver such standout returns – yet all surged as shifting geopolitics, energy security and supply-chain realities reshaped capital flows. Even more surprising was hydrogen’s sudden resurgence, catapulting the long-maligned sector onto the global leaderboard after years in the wilderness. At the same time, traditionally reliable areas like ASX technology and healthcare struggled to gain traction, reminding investors just how quickly market narratives can flip.
With 2026 now firmly in sight, the obvious question is: where will the next breakout come from?
To find out, we asked 10 experts to look ahead and identify the sector or industry they believe is poised for a breakout year in 2026 – and, crucially, the stocks they think best capture that opportunity.
These interviews were filmed on Tuesday, 9 December 2025.
For most investors, the biggest determinant of long-term outcomes isn’t finding the next multi-bagger – it’s avoiding the handful of stocks that permanently destroy capital.
The data is unambiguous. In his landmark study Do Stocks Outperform Treasury Bills?, Professor Hendrik Bessembinder found that just 4% of listed US stocks accounted for all net wealth creation above Treasury bills since 1926, while the majority failed to outperform cash at all.
For investors, that means the damage done by owning the wrong stocks can outweigh the benefit of trying to pick the next big winner. In other words, losses are concentrated, and so are mistakes.
That asymmetry matters even more for sophisticated portfolios, where capital preservation and compounding matter as much as upside capture. Avoiding the wrong stocks can quietly do more for returns than chasing the right ones.
With that in mind, we asked ten of Australia’s sharpest investment minds, spanning ASX and global equities, to nominate their stocks to avoid for 2026 and beyond.
These interviews were filmed on Tuesday, 9 December 2025.
In a year as frantic and fluid as 2025, it can be hard to know what is a valuable learning experience and what is just noise.
But it goes without saying that eventful times in markets will always throw up the opportunity for some new lessons and some old lessons best relearned.
As part of our 2026 Outlook Series, we asked 10 leading fund managers to share the key lesson they learnt in 2025 and how that's informing their approach going into 2026.
From trimming winners too early to working out how to play the big market shifts, these lessons from 2025 should help you become a better investor in the year ahead.
These interviews were filmed on 9 December 2025.
Jensen Huang founded Nvidia in 1993. For much of its life, it was a good company, not a great one. A specialist chipmaker, a few near-death moments, and long stretches where the stock went nowhere.
Over the past decade, however, Nvidia has become the poster child for modern growth investing. What looks like an overnight success was, in reality, a 20-year build, powered by reinvestment, innovation, and patience. It is now one of the largest companies on the planet, and a reminder that the best growth stories often take far longer to reveal themselves than markets expect.
That lesson extends well beyond a single stock. Over the past 15 years, growth has been the dominant equity style.
Since the post-GFC reset, global growth stocks have outperformed value by around four-and-a-half percentage points per year, when they really had no right in doing so. Growth was meant to fail. Instead, it adapted, overcoming inflation shocks, aggressive rate hikes, and repeated predictions of its demise.
The winners of this era were not blue-sky ideas, but businesses that could reinvest capital at scale, defend margins, and compound earnings through wildly different market regimes. The growth decade did not end with cheap money. It evolved.
And if the past 15 years have taught us anything, it’s this: great growth stories are rarely obvious at the start.With that in mind, we asked nine of Australia’s sharpest investment minds, spanning ASX and global equities, to nominate their top growth pick for 2026.
These interviews were filmed on Tuesday, 9 December 2025.
Buy Hold Sell has wrapped up for 2025 and will be back in 2025. Keep your eyes out for some bonus episodes dropping in early January. Thanks for listening!
If 2025 showed investors anything, it’s that the best money wasn’t made by sitting still; it was made by catching the right waves.
While broader markets delivered solid returns, the lion's share of profits went to investors willing to back the big themes: uranium, defence stocks, gold miners, Bitcoin, the Nasdaq, and Australian small caps. Get the wave right, and returns arrive fast.
But as any surfer knows, timing matters. Not every wave kept rolling, and some themes lost momentum just as quickly as they emerged.
So as we head into the New Year, the key question is which of these themes still have legs - and where is the next swell forming?
To find out, we sat down with Michael Wayne from Medallion Financial Group and Adam Dawes from Shaw and Partners to unpack which 2025 themes can continue, and nominate their one hotspot for 2026 and how to play it.
Note: This episode was recorded on Wednesday, 17 December 2025.
Looking back at 2023, 2024 and 2025, it’s hard not to think: wasn’t it easy to make money?
As the table below shows, almost everything went up. With around 95% of asset classes delivering positive returns, avoiding losses wasn’t the challenge - owning enough of the winners was.
But periods of easy money don’t last forever. Eventually, the macro backdrop shifts, leadership changes, and returns begin to diverge sharply across assets, as investors saw in years like 2018 and 2022.
With that in mind, we invited two market pros - Michael Wayne from Medallion Financial Group and Adam Dawes from Shaw and Partners - to discuss where investors should be positioning, and where trimming exposure may make sense heading into the new year.
Note: This episode was recorded on Wednesday, 17 December 2025.
As 2025 winds to a close, it’s only fitting that we take stock of the names that dazzled investors this year, as well as those that landed squarely on the naughty list.
Markets delivered no shortage of surprises, with some companies shooting the lights out while others tested even the most patient shareholders.
On the “nice” list sit Regis Resources (RRL), Codan (CDA), and Charter Hall (CHC) - three stocks that managed to push through volatility and reward investors handsomely along the way.
Meanwhile, the “naughty” list features Bendigo and Adelaide Bank (BEN), WiseTech (WTC), and Bapcor (BAP), each facing its own set of challenges.
To make sense of it all, Livewire’s Vishal Teckchandani brings together two trusted voices: Hugh Dive from Atlas Funds Management and Jun Bei Liu of Ten Cap. They break down what went right, what went wrong, and whether any of these names deserve a spot in portfolios heading into 2026.
Note: This episode was recorded on Wednesday, 3 December 2025.
“Crazy.” That’s how Jun Bei Liu of TenCap summed up 2025, a year where big themes surged in waves, sector leadership flipped at lightning speed, and investors had to stay sharp through fresh bursts of volatility.
Alongside Atlas’s Hugh Dive, we’re looking back at the year that was: Which stocks delivered, which ones fell short, and which great ideas slipped away before investors could act?
And the real question: what now? With 2026 around the corner, how should investors set up for success, and which stock calls stand out as the most compelling shots for the year ahead?
From key lessons to bold ideas, our guests unpack what mattered in 2025 and where they see opportunity next.
Note: This episode was recorded on Wednesday 3 December 2025.
Well, here we are again, staring down the barrel of the year-end.
It’s a time for some fun and frivolity, but amongst the cheer, it’s also the perfect time to cast a discerning eye over our portfolios and make some hard decisions about which companies get a guernsey into 2026.
Shedding the duds also means hunting for new opportunities and while piling into the top 10 best performers from this year is always tempting, there are probably some equal, if not better, opportunities to be had in the downtrodden.
In what has become a tradition at Livewire, Vishal Teckchandani hosts Hugh Dive from Atlas Funds Management and Jun Bei Liu from Ten Cap, to hunt through the bargain bin on the ASX to see if they can find some beaten-down gems. What will they find?
As a bonus, Jun Bei and Hugh each nominate a stock they think is set to get going in 2026.
Note: This episode was recorded on Wednesday 3 December 2025.
Investing globally can feel overwhelming, but it also opens the door to powerful structural themes that Australian equities often miss.
In this episode of Buy Hold Sell, Nick Markiewicz from Ellerston Capital and Michael Poulsen from Canopy Investors reveal six global small and mid cap stocks positioned in the slipstream of major shifts including AI driven power demand, digital content monetisation, manufacturing reshoring, rising healthcare procedure volumes and the transformation of Japan’s labour market.
From data centre power solutions to hazardous waste leadership and fast-growing HR technology platforms, the pair outline high conviction ideas that tap into multi-year growth opportunities.
Please note that this episode was recorded 19 November 2025
US earnings season might be over, but the aftershocks are still rippling through markets. Headline numbers looked strong – S&P 500 EPS growth hit 15%, margins touched 15-year highs – yet beneath that glossy surface lies one of the most divided landscapes in years.
In 2025, the market is being pulled in two directions. On one side sits the AI complex, powered by hyperscaler capex that continues to be revised higher. On the other, almost everything tied to the real economy is slowing. Manufacturing is soft. Housing is sluggish. Consumer strength depends entirely on your postcode and pay grade. And in small and mid-caps, earnings beats were met with half the usual upside, while misses were punished with twice the usual downside. Volatility is back, and it’s ferocious.
As Michael Poulsen from Canopy Investors puts it, parts of the economy are still waiting for “a bit more clarity” before they invest again – yet beneath the uncertainty, he’s seeing early signs of life in long-neglected sectors like healthcare. Meanwhile, Nick Markiewicz from Ellerston Capital notes that “if you're not in AI, I'm not sure you're anywhere,” even as he quietly eyes high-quality compounders and homebuilders now trading on GFC-era multiples.
In this episode of Buy Hold Sell, we break down the winners, the warning signs, and the opportunities emerging from a wildly bifurcated reporting season. Plus, our guests reveal two stocks that absolutely crushed expectations.
Whilst Aussie small caps have been on fire and are outperforming their large-cap peers year to date, it’s not the same story everywhere. In the US, for example, small and mid-caps (SMIDs) are still lagging – such is the dominance of the Magnificent 7. But when everything else is rallying, it can pay to fish where others aren’t.
And here’s the kicker: unlike Australia, where there’s a tiny pool of SMIDs – roughly 250 names that meet the $300 million to $10 billion market-cap cut-off – there are around 8,000 globally. That’s a lot of fish.
But with more choice comes the need to know where to look and how to separate the bluefin from the carp – because not every SMID is worth catching.
With that in mind, Livewire’s Chris Conway is joined by Michael Poulsen from Canopy Investors and Nick Markiewicz from Ellerston Capital to unpack the factors they look for when hunting global SMIDs, run the ruler over a handful of names, and each share one stock they think has a bright future ahead.
Please note that this episode was filmed 19 November 2025
Small caps have long been the hunting ground for investors seeking outsized growth, but they also demand a sharper eye and stronger conviction.
Whilst smalls have woken from a long slumber in 2025, beneath the headline names a new generation of companies is quietly building momentum - firms with unique market positions, improving fundamentals, or catalysts that could soon propel them into the spotlight.
In this episode of Buy Hold Sell, Livewire's Chris Conway is joined by James Nguyen from Tyndall Asset Management and Shaun Weick from Wilson Asset Management. Together, they shine a light on five small-cap hidden gems; businesses that aren’t household names yet, but might be tomorrow.
They unpack what makes each one special, the triggers that could unlock their value, and the key risks investors should keep in mind. Whether you’re hunting for the next breakout stock or simply looking to understand what drives performance in this dynamic part of the market, this episode is full of actionable insights from two seasoned small-cap specialists.
Please note that this episode was filmed 5 November 2025
If you've been following the story of small caps for a while, you would know that as early as 2024, some investors were talking about a recovery in small caps given the performance gap relative to their larger peers.
For a good period of time, that promise went unfulfilled. But good things come to those who wait, and in 2025, small caps have staged a genuine comeback - so much so that they’re now outpacing their large-cap peers year to date.
The question now is: can it last? And just as importantly, what could derail the momentum?
Livewire's Chris Conway put those questions and more to James Nguyen from Tyndall Asset Management and Shaun Weick from Wilson Asset Management.
In this episode, James and Shaun also share which sectors and themes still look compelling in small-cap land, a couple of stocks they're most excited about, and a couple more that are keeping them up at night.
Please note that this episode was filmed 5 November 2025
Unless you've been living under a rock, chances are you're aware of the resurgence in small-cap stocks. The ASX Small Ordinaries is up 19% year-to-date, versus just 7% for the ASX 100.
But it's not just a rotation away from growth-starved large caps that is seeing smalls catch a bid. The recent reporting season showed that many small caps are in rude health, with strong balance sheets and improved earnings backed by margin expansion, built on a bedrock of innovation and competitive advantage.
That's the good news but, of course, not all small caps are created equal. Investors need to be highly selective when considering less mature businesses.
Against that backdrop, Livewire's Chris Conway sat down with James Nguyen from Tyndall and Shaun Weick from Wilson Asset Management to understand their most important factors when assessing companies and run the ruler over three of the hottest ASX small caps.
For good measure, they each share a name they believe is on the rise.
Please note that this episode was filmed 5 November 2025
Over the past few episodes, we’ve galloped through our Spring Racing Carnival series - from the “stayers” built to go the distance, to the “wet-track wonders” that hold their footing when conditions turn tough. And now, as we thunder down the home straight, it’s time for the Photo Finish.
In this final instalment, we’re doing things a little differently. Rather than our usual stock-by-stock format, we’ve set up a series of head-to-head matchups - five pairs of closely matched companies, each vying for line honours. Our guests will weigh in on which business they’d back, and why.
It’s a chance to see how professional investors think when they’re forced to make the hard calls, where conviction meets comparison, and small details separate a winner from the pack.
Joining me to make those calls are Nick Pashias from Antares Equities and Marcus Ryan from Yarra Capital Management.
Please note this episode was filmed on 22 October 2025.
Winter might be over, but in markets, the clouds can roll in at any time. And when they do, only the sure-footed survive. With the Melbourne Spring Racing Carnival in full swing, we’re once again taking inspiration from the track - this time, looking for the “wet-track wonders” of the ASX.
These are the companies that can handle tougher terrain, those with strong balance sheets, reliable earnings, and management teams that know how to keep moving forward when the ground gets heavy.
In this episode of Buy Hold Sell, Livewire’s Chris Conway is joined by Marcus Ryan from Yarra Capital Management and Nick Pashias from Antares Equities. Together, they’ll explore what defines true resilience in the sharemarket and where investors might find the best footing if conditions deteriorate.
Before they dive into the stocks, Chris asks Nick what traits he looks for in businesses that can weather the storm - from fiscal discipline and predictable cash flows to that all-important pricing power. Marcus then weighs in on which sectors tend to thrive when the economic going gets tough.
As well as analysing three ASX names, for good measure, the guests each share a stock in their portfolio that they might look at differently if conditions head south.
Please note this episode was filmed on 22 October 2025.
Spring has arrived, and with it, the familiar buzz of the racing season in Melbourne - where form, endurance, and timing can make all the difference. It’s not just the horses gearing up for a big run - investors, too, are scanning the field for those rare “stayers” that can go the distance.
In this episode of Buy Hold Sell, we’re drawing inspiration from the track to talk about the enduring performers of the sharemarket - the companies that keep compounding, year after year, through every twist in the economic cycle. These are the market’s equivalent of the proven stayers: dependable, disciplined, and capable of delivering over the long haul.
Joining Livewire's Chris Conway to break down what makes a true long-term performer are Nick Pashias from Antares Equities and Marcus Ryan from Yarra Capital Management.
We kick off by finding out whether the gents fancy a flutter during the Spring Racing Carnival or prefer to keep their bets confined to the stock market. We then explore what the term “quality compounder” really means to them - the traits, fundamentals, and track records that separate the contenders from the also-rans.
And of course, we’ll run the ruler over three proven “stayers”, before each guest reveals the one company they’d hold for the next five years (if they had to!).
Please note this episode was filmed on 22 October 2025.
Sometimes, the best opportunities aren’t in the headlines. While the market chases momentum, savvy investors know that real alpha often comes from spotting quality before the crowd does, and knowing when to step aside when things get a little too hot.
In this episode of Buy Hold Sell, host Anna Dadic is joined by small-cap specialists Matt Griffin from Maple Brown-Abbott and Luke Laretive from Seneca to unpack some of the market’s lesser-known winners and a couple of names they think are best avoided for now.
From the small-cap success stories flying under the radar to red flags flashing on overhyped names, our guests share where they’re finding value, what signals they look for when identifying early opportunities, and how they avoid the common traps that trip up investors.
Small caps are in comeback mode, and investors are starting to take notice. After years in the doldrums, this once-unloved corner of the market is showing real signs of life, with the index surging more than 20% year to date. But is this rally built on solid foundations, or is it just another short-term burst of optimism?
In this episode of Buy Hold Sell, host Anna Dadic is joined by Matt Griffin from Maple-Brown Abbott and Luke Laretive from Seneca to unpack what’s really driving the small-cap recovery and where the next wave of opportunity might lie.
From takeover activity heating up to renewed investor appetite for growth, our guests share their read on what’s changed, what still looks cheap, and the risks investors need to keep on their radar.
If you’ve been sitting on the fence about small caps, this episode is packed with insights to help you separate the real signals from the market noise.
When it comes to small caps, investors tend to fall into two camps: those who see risk and those who see opportunity. With a small-cap comeback underway, the latter camp might just be onto something. While this part of the market can be volatile and under-researched, it’s also fertile ground for stock pickers with a sharp eye and thick skin.
In this episode of Buy Hold Sell, Livewire’s Anna Dadic is joined by Matt Griffin from Maple Brown Abbott and Luke Laretive from Seneca Financial Solutions to uncover where they’re spotting value in today’s small-cap landscape.
From sector-level trends to the traits that separate a potential winner from a flop, these two fundies share how they’re navigating a dynamic market full of hidden gems and hopefuls.
We put three small-cap names under the microscope, with our guests weighing in on which ones still have room to run and which might have already had their moment. They also each share a high-conviction pick they believe could outperform over the next 12 months.
This interview was filmed on Wednesday 8 October 2025.
This year's NRL Finals have been dominated by the players with the magic touch showing up when needed.
But which companies are doing the same thing on the ASX? Who are the real MVPs and who are the also-rans?
In this episode of Buy Hold Sell, Livewire's Tom Stelzer is joined by Tim Riordan from Blackwattle and Brenton Saunders from Pendal to offer their verdicts on the companies showing strong game management and delivering on the big stage.
Our guests also bring the ASX innovator they think has a winning strategy right now.
Please note, this episode was filmed on Wednesday, 24th September 2025.
This episode was filmed Wednesday, 24th September 2025.
The siren might have sounded on another AFL season, but when it comes to markets, the game next stops.
With the ASX trading near record highs and valuations stretching common sense, investors are asking the big question: how do you protect the scoreboard when conditions turn tough?
As the saying goes, attack wins you games, but defence wins you titles. And while growth stocks often grab the spotlight, low-volatility names and reliable portfolio ballast can be just as crucial for staying in the match when momentum shifts.
So in this episode, we’re drawing up our own starting lineup of ASX defenders. Which stocks deserve a place in your portfolio’s backline, and which ones should be left warming the bench?
Joining Livewire's Tom Stelzer to make the calls are from Blackwattle and Brenton Saunders from Pendal, who put three ASX names under the spotlight. They also share their best defensive stock picks for when markets get choppy.
Growth stocks by definition are going to run hot from time to time, but as the old saying goes: form is temporary, class is permanent.
In a year that's seen a surprisingly resilient stock market, some names have taken the ball and run with it. But it's where they go next that matters.
In this episode of Buy Hold Sell, Livewire's Tom Stelzer is joined by Tim Riordan from Blackwattle and Brenton Saunders from Pendal to analyse some of the ASX's current star performers and see whether they can maintain that form going forward.
They also throw up the ASX growth stock they think can continue to kick goals over the next 12 months.
Please note this episode was filmed on 24 September 2025.
Facebook (now Meta) founder Mark Zuckerberg coined the phrase “move fast and break things” – a catchy motto designed to celebrate speed and experimentation. But as investors know, speed counts for little if a company can’t cross the Rubicon from potential to profitability.
That’s the real test: turning hype into hard dollars. Profitability is the finish line, and plenty of flashy contenders never make it across.
In this episode of Buy Hold Sell, Livewire’s Chris Conway is joined by Martin Hickson (1851 Capital) and Steve Johnson (Forager) to zero in on a clutch of ASX names either approaching that threshold or already beyond it.
Which businesses are set to graduate from promise to performance – and which are still running on fumes, with more buzz than balance sheet? For good measure, both guests also reveal one stock they believe is presently offering more hype than substance.
Please note this episode was filmed on 10 September 2025.
We all love a compelling growth story, but how do you tell whether you're buying substance or sizzle?
In this episode, we’re diving into one of the most exciting - and sometimes most dangerous - areas of the market: innovation.
It’s a word that gets thrown around a lot, but how do you tell the difference between a company with a slick marketing pitch and one that’s genuinely building something transformative?
To unpack this, Livewire's Chris Conway is joined by Steve Johnson from Forager and Martin Hickson from 1851 Capital.
Johnson and Hickson share what innovation means to them, the traits that set true disruptors apart, and the red flags that suggest hype over substance. They also cover how to assess competitive moats, and what metrics matter when profitability hasn't quite yet arrived.
Of course, it wouldn't be an episode of Buy Hold Sell without some stock ideas, so the guests each share an ASX innovator that is underrated and the market might be missing, as well as the best innovator across any market cap segment.
Please note this episode was filmed on 10 September 2025.
It's September, and that means football finals - time to separate the contenders from the pretenders, as they say.
It's no different when hunting for opportunities on the ASX, particularly when it comes to the innovators - those companies pushing boundaries, reshaping industries, and trying to become the market leaders of tomorrow.
But as every investor knows, backing innovation isn’t as simple as spotting a good idea. For every success story like Pro Medicus or Life360, there are countless others that never quite make the leap, leaving investors nursing losses.
So how do you tell the difference between a genuine innovator and a pretender? And what signals should investors look for when trying to back the next big thing?
To answer those questions, Lvewire's Chris Conway is joined by Martin Hickson from 1851 Capital and Steve Johnson from Forager. Together, they run the ruler over a handful of ASX innovators.
For good measure, each guest shares a disruptor they are backing that has massive upside potential - provided they can nail it.
Please note this episode was filmed on 27 August 2025.
Reporting season already feels like a lifetime ago, given how fast markets are moving these days, but some results - both good and bad - will have a lasting impact.
A great set of results and positive share price reaction can reset a company's trajectory, both operationally and in the minds of investors.
Suddenly, a middling company with a middling share price can look like a world-beater - though with that comes greater expectations. On the other hand, market darlings can turn into pumpkins almost in an instant, with momentum and share prices derailed in equal measure.
In this episode of Buy Hold Sell, Livewire's Anna Dadic speaks with Ben Rundle (Hayborough) and Joe McCarthy (Elston) to unpack some of the most painful results from the season.
For balance, they also each highlight a standout winner that they believe can kick on over the next 12 months.
This episode of Buy Hold Sell was filmed 27th August, 2025.
Reporting season is always full of surprises, and this one didn’t disappoint.
Some companies smashed expectations, sending share prices soaring, while others stumbled badly and left investors wondering what went wrong. And then, of course, there were the quiet achievers, delivering solid results without making much noise.
To help us cut through the chaos, Livewire's Anna Dadic is joined by Ben Rundle from Hayborough Investment Partners and Joe McCarthy from Elston Asset Management.
Together, they examine the key themes from the season, including some of the best, worst, and under-the-radar results, and - perhaps most importantly - whether they are making any portfolio adjustments.
Strap in, there's plenty to cover.
Please note this episode was filmed on 27 August 2025.
While the aggregate numbers suggest this August reporting season hasn’t been as volatile as previous ones—at least when looking at average share price moves on beats and misses—several big-name stocks have experienced outsized reactions.
CSL, Woolworths and James Hardie were punished, while Coles, Brambles, and REA Group fared far better. Such sharp swings among large-cap “reliable” names have made the season feel more unpredictable than usual, particularly since these are the stocks investors typically buy for stability.
They are also companies that dominate headlines and, understandably, get a lot of coverage. However, that also means that there are likely many companies beyond the headlines that delivered solid results, which the market might have overlooked.
In this episode, Livewire’s Anna Dadic is joined by Ben Rundle from Hayborough Investment Partners and Joe McCarthy from Elston Asset Management to run the ruler over three ASX names that quietly delivered strong results.
For good measure, they each nominate another stock that may have flown under the radar —one they believe offers a compelling buying opportunity.
Please note this episode was recorded on 27 August 2025.
Despite having a world-class healthcare industry and some equally impressive companies, the ASX healthcare sector has been code blue over the last 12 months and is in dire need of a defibrillator.
The sector has been the third-worst performer over the period, down around 2%. So, what gives? Well, COVID didn't help, and healthcare companies have never been 'cheap' historically, but it does beg the question - is the sector due for a turnaround?
And, far more importantly, as it concerns Buy Hold Sell, which stocks could lead the charge?
To help answer those questions, Livewire's Chris Conway was joined by David Wilson from First Sentier Investors, and Matt Williams from Airlie Funds Management.
Not only do the guests run the ruler over a handful of healthcare names, but they also each identify one healthcare company they believe is set for a big year ahead.
Please note this episode was recorded on 30 July 2025.
There’s something stirring in the ASX property sector.
With interest rates finally trending lower, the landscape for real estate investment is beginning to shift. Cheaper financing, improving asset valuations, and a potential tailwind for yield-focused investors all mean that property stocks are starting to look a lot more compelling.
While they’ve been out of favour in recent times, could we now be witnessing the early signs of a comeback?
In this episode of Buy Hold Sell, we’re diving into the world of listed property - from retail to residential, industrial to office - to uncover where the best opportunities might lie.
To help make sense of it all, host Chris Conway is joined by two top investors who’ve seen more cycles than most: Matt Williams from Airlie Funds Management and David Wilson from First Sentier Investors.
Together, they run the ruler over three ASX-listed property stocks and discuss the macro forces driving the sector.
For good measure, Matt and David also name a property play (or two) they like right now.
Please note this episode was filmed on 30 July 2025.
There has been a lot of focus on the banks over the past 12 months, and fair enough. Commonwealth Bank (CBA) has traded more like a growth stock, and its unexpected trajectory has warped not only its valuation but those of its peers.
Whilst debate about the reasons for CBA's rally rages on, investors might do well to remember that the ASX financials sector comprises more than just the Big Four - hard to believe, we know.
With that in mind, we've brought in the big guns to run the ruler over the other parts of the financial sector, including insurers and platform businesses. Joining host Chris Conway are Airlie Funds Management's Matt Williams and First Sentier Investors' David Wilson.
Together, they talk about the opportunities beyond the banks, run the ruler over three other key financial stocks, and each share an ASX name they particularly like in the space.
Oh, and just because we couldn't help ourselves, they also share whether any of the Big Four look appealing right now.
Please note this episode was recorded on 30 July 2025.
With the headline yield for the ASX 200 now sub 4%, generating a decent yield from equities has become more challenging in recent years.
There are a couple of factors investors can screen for, however, to make the task a little easier.
First and foremost, make sure to look for companies with an above-market yield – otherwise, you might as well just buy the market. In this case, the line in the sand is 4%.
Secondly, look for companies whose consensus estimates suggest they will at least maintain, if not grow, their dividends over the next two years. As we all know, there is no point getting 8% one year, and then no dividend the following year – income investors crave consistency.
So, with those simple but powerful guardrails in place, Livewire’s James Marlay is joined by Peter Gardner from Plato Investment Management and Hugh Dive from Atlas Funds Management to run the ruler over a handful of stocks that meet the criteria.
For good measure, they each share a name that they like for its above-market yield and expected consistency in coming years.
Please note this episode was filmed on 16 July 2025.
In this income-focused episode of Buy Hold Sell, to celebrate Livewire’s 2025 Income Series kicking off, we’re tackling one of the most beloved - and fiercely defended - corners of the Australian market: fully franked dividends.
To help make sense of the dividend landscape in 2025 and beyond, Livewire’s James Marlay is joined by two seasoned pros: Peter Gardner from Plato Investment Management and Hugh Dive from Atlas Funds Management.
Together, they explore where the best income opportunities lie, what traps to avoid, and how to hunt for companies that deliver both yield and capital growth.
You’ll hear why traditional dividend darlings like CBA and Wesfarmers might not be pulling their weight anymore, why payout ratios matter more than ever, and how franking credits can offer crucial insight into a company’s financial health.
Plus, we get their verdicts on some of the most consistent dividend payers on the ASX – including Soul Patts, Charter Hall, and Steadfast Group - before each guest shares their top pick for income in 2025.
If you’re serious about dividends, you won’t want to miss this one.
Please note that this episode was recorded on July 16, 2025.
Investing is rarely black and white, but one of the most enduring debates in equity markets is this: Do you chase the proven performers at a premium, or take a punt on the underpriced underdogs?
In this episode, we’re putting that question to the test.
Joining Livewire's Chris Conway are two seasoned portfolio managers, Hamish FitzSimons of AllianceBernstein and Dougal Maple-Brown from Maple-Brown Abbott.
Together, they explore some of the ASX’s most closely watched names across key sectors, including banks, miners, healthcare, and consumer staples. But there's a twist.
For each 'quality' name, Hamish and Dougal will assess the company in classic Buy Hold Sell style. Then, they’ll weigh up a potential 'value' alternative and tell us whether they prefer it.
Which names offer true long-term defensiveness? Which ones are still too expensive despite recent drawdowns? And which cheaper stocks have what it takes to close the gap?
Please note this episode was filmed on 2 July 2025.
With the ASX hovering near all-time highs, you’d be forgiven for thinking the value train has left the station. But is that really the case? Or are there still pockets of opportunity hiding in plain sight?
In this episode of Buy Hold Sell, we dig into whether there’s any genuine value left in the market, and where two leading investors are finding it.
Dougal Maple-Brown from Maple-Brown Abbott and Hamish FitzSimons from AllianceBernstein share their philosophies, the must-have traits of a value stock, and what sectors they’re eyeing right now.
Plus, they name one stock to avoid - and one they’re buying.
No matter which factor you like, clear-cut winners are hard to find. Why? Because quality is rarely cheap and value can be anything but. So in this episode, we're going to keep it simple by running the ruler over five ASX names with strong balance sheets.
These are companies that boast robust financial foundations: low debt, consistent cash flows, and disciplined capital management.
Such businesses typically not only weather economic storms but often emerge stronger on the other side. But that does not mean they are automatic 'buys' if the valuation doesn't stack up.
Applying their respective lenses are Dougal Maple-Brown from Maple-Brown Abbott, and Hamish FitzSimons from AllianceBernstein.
For good measure, they also share one ASX name that they like right now.
Please note this episode was filmed on 2 July 2025.
We’ve crunched the numbers from Livewire Markets and Market Index to uncover the most-searched ASX stocks over the past 12 months, and now it’s time to put them under the microscope.
As you'd expect, big-name favourites lead the pack. But behind the ticker symbols are stories full of surprises, challenges, and potential - and that’s where the real insight begins.
Joining guest host Grady Wulff are two of the sharpest (and most entertaining) minds in the market: Henry Jennings from Marcus Today and James Gerrish from Market Matters.
Together, they weigh in on what’s driving investor interest and whether these companies still have room to run.
And to top it off, Henry and James each reveal one innovative stock they believe could make serious waves in FY26.
It’s fast, it’s fun, and it’s not to be missed.
Please note this episode was filmed on 18 June 2025.
FY25 has been anything but dull. From sharp market pullbacks and the ripple effects of global trade tensions, to geopolitical flare-ups and wild swings in commodity prices - there’s been no shortage of drama. Yet, despite the volatility, markets have remained surprisingly resilient, with the ASX 200 now flirting with all-time highs.
So, what have investors learned? What caught them off guard? And more importantly, how should they be positioning for FY26?
In this episode, we’re taking stock of the past 12 months whilst also looking to the future. To help us unpack the biggest surprises, wins, and lessons from FY25 - and uncover where the smart money might be heading next - guest host Grady Wulff is joined by two of Australia’s sharpest market minds: Henry Jennings from Marcus Today and James Gerrish from Market Matters.
From their best (and worst) investment calls to the sectors they’re backing for FY26, the biggest risks still looming on the horizon, and a stock they are each backing for the year ahead - this is one episode you don’t want to miss.
The end of the financial year is more than just tax time. It's a time to reflect on your portfolio, sort the winners from the duds, and make some informed decisions about how to position for the next 6-12 months.
Invariably, there will be some stocks in your portfolio that have crushed it, and some that you wish you'd never bothered with.
Against that backdrop, we’re taking a look at some of the best and worst performers in the ASX 200 - based purely on share price performance over the past 12 months - and asking the big questions: can the market’s high fliers keep climbing in FY26? And is opportunity hiding in the rubble of this year’s worst performers?
To help us separate the traps from the turnarounds, guest host Grady Wulff is joined by two of Australia’s most respected market commentators - James Gerrish from Market Matters and Henry Jennings from Marcus Today.
Whether you’re hunting for momentum or bargain buys, this episode will give you expert insights into what’s hot, what’s not, and what might be next.
Please note this episode was filmed on 18 June 2025.
While the top end of town tends to steal the spotlight, real innovation often happens in the small and mid-cap space. From nimble fintech redefining how we bank to next-gen healthcare firms disrupting traditional delivery models to tech-savvy logistics players streamlining operations, there’s a new wave of challengers taking on the incumbents.
These companies may not yet be household names but many are leveraging technology, unique business models, or sharp customer focus to punch well above their weight. And in a market where growth is increasingly hard to come by, they offer investors a compelling, if sometimes risky, alternative.
So, how do you sort the genuine disruptors from the hype machines? Which companies have the vision, execution, and balance sheets to go the distance, and which are more likely to fizzle out?
Joining Livewire's Chris Conway to break it all down are Emanuel Datt from Datt Capital and Michael Steele from Yarra Capital. Together, they put three emerging challengers under the microscope.
For good measure, they also name their favourite disruptor they are backing right now.
It’s easy to forget that many of today’s ASX blue chips – household names like CSL, REA Group and WiseTech – started life as small-cap stocks. While they may have flown under the radar at the time, patient investors who could spot their potential early on have been handsomely rewarded.
In this episode, we’re diving into the world of small caps, where volatility runs high, but the rewards can be even higher.
More specifically, we’re exploring how to separate the true long-term compounders from the companies fueled by hype, rather than fundamentals. Which business models are built to last? Which leaders have the vision and execution to deliver real growth? And what signs suggest a small company could one day play in the big leagues?
To help us tackle these questions, Livewire's Chris Conway was joined by two seasoned investors who know the small-cap landscape inside and out: Emanuel Datt from Datt Capital and Michael Steele from Yarra Capital Management.
For good measure, they each share an ASX name they are backing to become the next big thing.
Please note this episode was filmed on 7 May 2025.
Equity investors, quite rightly, are looking beyond large caps for opportunity. There's only so much Commonwealth Bank and Magnificent 7 you can have in a portfolio before things start to look top-heavy.
But moving down the market cap spectrum does not have to equal higher risk - not if you know where to look.
Whilst small-cap names are often under-researched and overlooked, this can create opportunities for outsized returns. The key is to have a process for unearthing the mispriced or underappreciated gems.
So, in this episode, Datt Capital’s Emanuel Datt and Yarra Capital’s Michael Steele share what they are looking for when mining the small-cap space, before putting their method to the test by analysing three small-cap names.
For good measure, they each share a diamond in the rough small cap that they are backing right now.
Please note this episode was filmed on 7 May 2025.
With Livewire’s inaugural Growth Series in full swing, special guest host - CommSec's Tom Piotrowski - is back in the chair for another round of Buy, Hold, Sell.
This time he's asking the big questions, including what the key risks are for ASX growth companies today, and how professionals manage downside when the inevitable arrives.
Answering those questions are Ellerston’s James Barker and Ausbil’s Andrew Peros. Tom also quizzes them on past growth investments that exceeded expectations, and which early-stage indicators they pay most attention to.
And that's all before we get to the traditional Buy Hold Sell fare, running the ruler over five overlooked growth stocks. Are they misunderstood, or has the market ditched them for a reason?
If you love growth investing, don't miss this bumper episode. , investors piled into early-stage lithium hopefuls.
This episode was filmed 21 May, 2025
With Livewire’s inaugural Growth Series kicking off next week, we’re bringing you a special series of Buy Hold Sell focused on growth stocks.
Against the backdrop of an incredibly volatile macro picture, punctuated by Trump’s flip-flop on tariffs, we explore how growth investing is being reshaped in real time.
Known for punching above our weight on many fronts, we also uncover the sectors and industries where Australia has a competitive edge.
That’s all before we deliver what Buy Hold Sell is best known for, running the ruler over three stocks that are on the move as well as two growth ideas our experts reckon the market is overlooking.
To help navigate this bumper episode, special guest host Tom Piotrowski from Commsec is joined by Ellerston’s James Barker and Ausbil’s Andrew Peros.
Don’t miss the insights as we set the scene for a journey through growth investing over the next couple of weeks.
This episode was filmed 21 May, 2025
There are myriad benefits for companies with powerful earnings potential.
So, which ASX companies have such earnings potential, and are they currently priced correctly?
To answer those questions, Livewire's Anna Dadic is joined by Will Granger from Airlie Funds Management and Marc Whittaker from IML.
In this episode, they analyse three ASX companies exhibiting strong earnings that are set to grow in the future. For good measure, they each outline the bull case on one company they believe has significant earnings upside.
Please note this episode was filmed on 7 May 2025.
When you're looking to buy something, one of the first things you ask is: what's the quality like?
No one wants something that’ll fall apart or blow up in their face. One of the big bugbears is reliability - most people want something that’s built to last when they’re putting their money into it.
Same goes for stocks. The word quality gets bandied around a lot, and while there’s a broadly accepted definition, it can mean different things to different people.
Different strokes for different folks.
To unpack what it means for those hunting in the small and mid-cap space, Livewire's Anna Dadic is joined by Will Granger from Airlie Funds Management and Marc Whittaker from IML.
In this episode, they will discuss why quality becomes so significant in market turbulence and share their current favourite high-quality small and mid-cap stock names.
Please note this episode was filmed on 7 May 2025.
When markets take a dive like they did recently, the use of the word "quality" increases dramatically.
Suddenly, everyone is hunting quality stocks that can withstand whatever is being thrown at them by the economy and by the market.
But what exactly is quality? Well, it has many faces, but companies with strong financial metrics, like high return on equity and strong competitive advantages, are high on the list.
So, which ASX companies exhibit these traits and how do the pros rate them?
To answer those questions, Livewire's Anna Dadic was joined by Will Granger from Airlie Funds Management and Marc Whittaker from IML.
In this episode they analyse five ASX names that fit the bill and each outline the bull case on one company they believe is set to thrive.
Please note this episode was filmed on 7 May 2025.
The RBA meets next month, with the decision due on 20 May. Regardless of what happens with the election and despite this week's slightly hotter-than-expected inflation print, a rate cut is "locked in" according to Westpac. Many in the market agree.
And whilst some believe it is the last cut we could get for a while, the market is pricing in up to three more cuts for the rest of the year.
Should these cuts materialise, there is a cohort of capital-intensive and consumer-facing businesses that could benefit from lower debt costs and increased disposable income. Of course, this outlook needs to be balanced against the reason for the cuts in the first place - a slowing economy.
To help us understand where that balance lies, guest host Matthew Kidman of Centennial Asset Management was joined by Matthew Haupt from Wilson Asset Management and Tim Johnston from Tyndall Asset Management.
Together, they run the ruler over no less than five ASX companies that could benefit from lower rates. For good measure, they share a name that they believe will be a winner in a lower rate environment.
Please note this episode was filmed on 23 April 2025.
With inflation finally heading in the right direction and Trump’s trade war throwing global markets a curveball, investors are laser-focused on central banks, and the RBA is firmly in the spotlight.
A second rate cut is widely expected in May, with markets pricing in a 98% chance. So, how are the pros positioning their portfolios in a falling rate environment?
To unpack this and more, Matthew Haupt from Wilson Asset Management and Tim Johnston from Tyndall Asset Management sat down with special guest host, Matthew Kidman from Centennial Asset Management.
In the episode, they dig into how lower interest rates influence portfolio construction, which sectors stand to benefit, and how professionals assess the impact on capital-intensive or heavily indebted companies.
They also explore the growing importance of dividends and yield in a low-rate environment, and, of course, share one rate-sensitive stock they believe the market is currently mispricing.
If you’re looking to sharpen your strategy in a shifting rate environment, this episode is not to be missed.
Please note this episode was filmed on 23 April 2025
With one rate cut already in the books and another expected from the RBA in May, the landscape for Australian equities is shifting fast.
Markets are now pricing in as many as three additional cuts over the next year, raising a critical question for investors: which ASX stocks stand to benefit - and which could struggle - as interest rates continue to fall?
In this episode, Centennial Asset Management's Matthew Kidman hosts Matthew Haupt from Wilson Asset Management and Tim Johnston from Tyndall Asset Management - two investors with deep insights into how monetary policy moves ripple through the ASX.
They reveal which companies they believe are poised to outperform in a falling rate environment, which ones are worth avoiding, and how they’re positioning their portfolios for what could be a very different 12 months ahead.
Please note this episode was filmed on 23 April 2025.
The recent surge in gold prices has been described by some as a once-in-40-year gift for investors.
It has been a perfect backdrop for the precious metal, driven by a weaker US dollar, escalating US-China trade tensions, and growing concerns about global economic stability.
Gold equities have also participated in the rally, although not quite to the same extent as the underlying commodity.
So, where to for gold from here and which companies are best placed to capitalise? To help answer those questions, Livewire’s James Marlay was joined by Ben Richards from Seneca Financial Solutions and Daniel Sullivan from Janus Henderson.
Ben and Dan share their perspectives on the current gold market dynamics, where they are finding value amongst explorers, developers and producers, and – most importantly, which stocks they like.
Please note this episode was filmed on 9 April 2025.
In the latest episode of Livewire’s Buy Hold Sell, host James Marlay is joined by two battle-hardened commodity experts to run the ruler over one of the most volatile and recently unloved sectors of the market: lithium and battery metals.
After a meteoric rise in 2021 and 2022, lithium prices have taken a sharp turn, falling significantly over the past year. This pullback has left many investors questioning whether the sector's structural tailwinds—such as electrification and the global energy transition—are still intact.
Joining the conversation are Ben Richards of Seneca Financial Solutions and Daniel Sullivan from Janus Henderson Investors, who share their insights on where value is emerging and what to steer clear of.
They delve into the recent price weakness, explore how far valuations have reset, and debate which companies and commodities are best positioned for a rebound.
Whether you're already exposed or just lithium-curious, this episode is essential viewing for anyone trying to navigate the next phase of the commodity cycle.
Please note this video was filmed on 9 April 2025.
Recent weeks have delivered a fresh bout of volatility across global markets, driven by tariff tantrums, bending bond markets, and irritable investors. Nothing has been spared, not even commodities.
Prices for iron ore have softened, copper has been smashed, and coal has continued to come under long-term pressure. But as seasoned investors know, periods of weakness can often uncover the most compelling opportunities.
With that in mind, Livewire’s James Marlay sat down with two commodities specialists in Janus Henderson’s Daniel Sullivan and Seneca Financial’s Ben Richards to pick through the rubble.
They share their outlooks for key commodities, the forces shaping supply and demand, and where they’re finding value — both on the ASX and globally.
Please note this episode was filmed on 9 April 2025.
When markets turn rough, it’s often small and mid-cap stocks that wear the brunt of the pain. Take 2022, for example. While the ASX 200 slipped just 1%, the Small Ordinaries Index tumbled nearly 20%.
But a falling share price doesn’t always mean a falling star - some of the greatest investment comebacks are buried beneath the rubble of a market correction. Consider Eagers Automotive, which plunged from $3.20 to below $1 during the GFC before surging above $16 with a healthy dividend yield.
Or Afterpay, which collapsed to $8.01 in March 2020 only to rocket back to $70 within months. Drawdowns like these can offer bold investors serious upside, but only if you back the right names.
The real opportunity lies in spotting companies with strong fundamentals and a compelling long-term outlook that’s masked by a weak share price.
In this episode of Buy Hold Sell, we're joined by David Allingham from Eley Griffiths and Marcus Burns from Spheria to uncover which beaten-down stocks are primed for recovery (and which ones deserve to stay on the sidelines).
You can watch or read an edited transcript of this interview here: https://www.livewiremarkets.com/wires/buy-hold-sell-3-asx-small-and-mid-cap-recovery-plays-and-2-names-to-avoid
Of the top 20 largest and most successful US companies from the past quarter century, only three remain constituents today – Walmart, Exxon Mobil and JP Morgan Chase.
Of the top 20 largest and most successful Australian companies from 2000, more than half remain as constituents, with banks and miners dominating.
While our biggest companies have served us well, the lack of innovation and new entrants into the upper echelons leaves the top part of our market looking old hat compared to global peers, lacking diversification and growth potential.
Fortunately, looking outside the top 20 yields a different result. The small and mid-cap space is rich with companies on the cutting edge, disrupting industries and carving out new markets. But there are also greater risks.
So, how are investors to sort the wheat from the chaff? To find out, Livewire’s Vishal Teckchandani is joined by Marcus Burns from Spheria Asset Management and David Allingham from Eley Griffiths Group.
They share what they look for in small and mid-caps (SMID) and, for good measure, they highlight a favourite SMID they believe has staying power.
This video was recorded on 26 March 2025.
Hunting for the next breakout small or mid-cap stock isn’t about chasing headlines or hype – it’s about backing gritty, cash-generating companies with rock-solid balance sheets and management teams bold enough to make smart decisions without constantly rattling the tin.
In this episode of Buy Hold Sell, Livewire’s Vishal Teckchandani puts five high-potential ASX ex-20 stocks under the microscope with David Allingham from Eley Griffiths and Marcus Burns from Spheria – spanning homegrown global exporters to local names with serious staying power – to uncover what truly separates the standouts from the rest.
Plus, each fundie reveals their top mid-cap pick – a compelling business flying under the radar that not only ticks all the boxes, but has a clear strategy to keep delivering growth.
This episode was filmed on 26 March 2025.
In investing, every basis point counts. Keeping costs low is one of the simplest ways to boost long-term returns, and some of the best-performing ETFs and LICs charge less than 0.10% in annual fees, proving that strong performance doesn’t always come with a high price tag.
In this episode of Buy Hold Sell, we’re going bottom-fishing for the cheapest funds on the ASX. Joining us to break down the best rock-bottom-fee strategies are Charlie Viola from Viola Private Wealth and Adam Dawes from Shaw and Partners.
Are these low-cost funds worth the hype? Let’s find out.
Should investors start taking Bitcoin seriously, just as we should have taken tech stocks more seriously in the 2010s?
Paul Tudor Jones, the billionaire hedge fund manager who famously called the ’87 crash, made a bold bet on Bitcoin in 2020. Since then, it’s surged over 1,200%. His reasoning? If beating inflation is a race, Bitcoin is the fastest horse.
Yet, many investors remain sceptical. Unlike traditional assets, Bitcoin has no cash flows, no earnings, and no tangible value - making it easy to dismiss. But are we making the same mistake with Bitcoin that sceptics made with Amazon and Apple decades ago?
With institutional adoption accelerating, crypto markets maturing, and Bitcoin hitting record highs (until the recent dip), the case for it as a legitimate asset is stronger than ever. Is it time to move past old biases and rethink its place in a portfolio?
To break it down, we’re joined by Charlie Viola from Viola Private Wealth and Adam Dawes from Shaw and Partners. Watch, read or listen to the podcast below.
A winning portfolio is like a championship team; star players in attack, rock-solid defense, and steady hands at the helm. In this episode of Buy Hold Sell, Livewire's Vishal Teckchandani calls on selectors Adam Dawes (Shaw and Partners) and Charlie Viola (Viola Private Wealth) to draft the ultimate lineup of listed investments. With nine ETFs and LICs - five chosen by Vishal plus two wildcards from each expert - they’re hunting for the Ricky Pontings and Emma McKeons of the ASX. Whether you seek growth, resilience, or cash flow, they’ve got you covered. Watch, read, or listen below to find your portfolio’s MVPs.
It's every investor's dream: get in at the right time on a great growth company and ride the wave to untold riches. It might sound like a pipedream, and it is indeed hard to do, but there have been plenty of examples over the past decade.
Globally, names like Nvidia, Apple, Microsoft and Google spring to mind, whilst locally names like ProMedicus and TechnologyOne fit the bill.
So, how does one go about hunting these unicorns, and what are the companies right now with massive growth runways ahead of them? We're talking about names with sustainable competitive advantages, good returns on capital, strong balance sheets, and that are disruption-resistant.
To help answer that question, and run the ruler over three prospective growth standouts, Livewire's James Marlay was joined by Vihari Ross from Antipodes and James Tsinidis from Munro Partners.
For good measure, they also share one company they believe is destined to rise to up the growth stock leaderboard over coming years.
Note: This episode was recorded on Wednesday, 26 February 2025.
The stock market is constantly evolving but, every decade, a few megatrends reshape entire industries - creating huge opportunities for investors who spot them early.
Today, AI is revolutionising everything from automation to chip design, with the global AI market projected to grow from US$207 billion in 2023 to over US$1.8 trillion by 2030, according to Grand View Research. Meanwhile, the clean energy transition, shifting demographics, and deglobalisation are rewriting economic playbooks.
Getting these megatrends right isn’t just important, it can be the difference between market-beating returns and falling behind. Just look at how Amazon capitalised on e-commerce or how Nvidia surged over 3,000% in the past decade thanks to AI-driven demand.
In this episode of Buy Hold Sell, we’ll break down the biggest megatrends shaping the future, explore why they matter, and discuss how investors can position themselves to ride the wave. We'll also unpack a couple that could be on the decline.
To do that, Livewire’s James Marlay was joined by Vihari Ross from Antipodes and James Tsinidis from Munro Partners. For good measure, they each share a stock idea set to benefit from their favourite megatrend.
Note: This episode was recorded on Wednesday, 26 February 2025.
Whether you're a fund manager overseeing billions or a Livewire reader investing your hard-earned money, there is no better time than the end of reporting season.
Firstly, because it’s bloody exhausting, and secondly, because it’s the clearest picture you will ever get of the health of corporate Australia and the shape of your own portfolio.
Right now is the moment where there is the least noise, the least speculation, and the least fluff. This moment allows investors to make some intelligent decisions, with the fullest information possible, about which opportunities they want to pursue, and forgo, over the coming six months.
So, what were the key themes from the season? And, more importantly, which stocks crushed it - and which got crushed?
To help answer those questions, Livewire’s James Marlay sat down with James Gerrish from Market Matters and Jun Bei Liu from Tencap for this special February 2025 reporting season wrap-up of Buy Hold Sell.
Note: This episode was recorded on Thursday, 26 February 2025.
Tech companies have carved out a special place in the zeitgeist. Like Sting and Madonna, they often go by singular names and, in many cases, those names have become verbs.
We don’t search online, we Google. We don’t request a ride, we Uber. Often, when companies reach such a status, there is a coalescence between their use in parlance, our use of their products in everyday life, and a sky-high share price.
The question we, as investors, must seek to ask and answer, however, only concerns the latter. Is the business priced appropriately for the expected future return? That’s not so easy to do when the whole world is in love with a company, and its products are so widely used.
But that’s what fund managers signed up for, and so that’s the question, amongst others, that we’re exploring in this episode of Buy, Hold, Sell, where Livewire’s James Marlay was joined by Vihari Ross from Antipodes, and James Tsinidis from Munro Partners.
For good measure, Ross and Tsinidis each share a tech stock they think is so compelling you can't ignore it.
Note: This episode was recorded on Wednesday, 26 February 2025.
If property investing is all about location, location, location, then equity yield is all about consistency, consistency, consistency.
Yes, investors want a suitable level of yield but the smart ones are willing to relinquish some of that level for a higher degree of consistency.
Not convinced?
Well, Livewire's Carl Capolingua wrote a wire last year titled "The most consistent dividend paying stocks in the ASX top 50". It was read almost 50,000 times, had 170 likes, and was one of the most popular wires of 2024.
So, with dividend consistency the name of the game, in this episode of Buy Hold Sell, Michael O'Neill from IML and Ben Clark from TMS Private Wealth run the ruler over three stocks that have maintained dividend consistency over an extended period.
They also each highlight a stock where the level or consistency of yield could come under pressure.
Note: This episode was recorded on Wednesday, 12 February 2025.
Traditionally, investors who have wanted yield have needed only to look at what a company has paid in the past and the consistency with which they have paid it in order to construct a fairly high-yielding and robust portfolio.
But with share prices surging and earnings not growing as fast, it's not so simple anymore. Take the poster child for the movement, Commonwealth Bank (ASX: CBA), as an example. When it was first listed, its yield was north of 7%. Today, it hovers around 3%.
Many would point to the fact that the CBA share price has risen circa 50% in the past 12 months as adequate compensation for the lower yield, but for many investors, there is not even an inkling of selling to crystallise those gains.
"Been in CBA since 2014. I'm not going anywhere", was the comment from Tom, a Livewire reader, on a recent wire about CBA's valuation. Imagine if you bought in the IPO in 1991 - "they'll have to pry them out of my cold, dead hands" was the comment from another reader.
Some investors rely on suitable yields to fund their retirements, and a sub 4% average yield on the ASX All Ordinaries doesn't cut it. So, how are the professionals hunting for yield in the current environment? Are they sticking to the tried and tested methods, believing this is just another part of the cycle, or have they changed tack?
To answer those questions, Livewire's Sara Allen is joined by Michael O'Neill from IML and Ben Clark from TMS Private Wealth. For good measure, our guests each bring along their top income stock for the year ahead.
Note: This episode was recorded on Wednesday, 12 February 2025.
With the stock market surging to all-time highs and the rally being driven by a narrow slice of the market, one of the unwelcome outcomes has been a falling average yield on the ASX.
It currently sits well below 4% for the All Ordinaries - about the long-term average - as seen on the chart below.
As most of you would know, every year we conduct a survey as part of our Outlook Series, where we ask a host of questions, including “What is your favourite income stock?”
Nearly 5000 of you shared your thoughts with us across the Livewire and Market Index platforms, and in this episode of Buy Hold Sell, you’re in for a real treat.
We’re going to run the ruler over five of your most-tipped income stocks - but there is one small caveat: the stocks must have a higher-than-market average yield. To do that, Livewire's Sara Allen is joined by Michael O'Neill from IML and Ben Clark from TMS Private Wealth.
For good measure, our guests each bring along a stock they think should have made the list, as their top income stock for 2025.
Note: This episode was recorded on Wednesday, 12 February 2025.
Sales growth is one of the most important metrics when evaluating growth stocks. Let's face it: it's hard to be a growth company if you're not constantly selling more products and services to consumers.
Companies with strong sales growth demonstrate market demand, expansion potential, and the ability to capture a larger share of the industry, and investors often rightly look at sales growth to identify companies that are scaling rapidly and gaining traction in their respective markets.
That said, sales growth alone is no panacea. If viewed in isolation, it can even be misleading. High sales growth does not necessarily equate to financial health or long-term profitability.
Some companies may aggressively grow sales but struggle with rising costs, poor margins, or excessive debt. Without strong profitability and cash flow management, even a high-growth company can face financial instability.
With all that in mind, this episode sees our guests running the ruler over a handful of stocks that have exhibited strong sales growth. Are they all they are cracked up to be, or have investors been wrong-footed as share prices have departed from reality?
To answer those questions, Livewire's Hans Lee was joined by David Wilson from First Sentier Investors and Joe McCarthy from Elston Asset Management. For good measure, they each share a stock with strong sales growth which also ticks all the other boxes.
Note: This episode was recorded on Wednesday, 30 January 2024.
Whether you’re an experienced investor or just starting out, identifying stocks with the potential for significant long-term growth is both an art and a science.
Growth stocks have historically been some of the biggest wealth creators in the market, but finding the right ones requires careful analysis, patience, and let's face it, a bit of intuition.
Whilst most growth stocks will have strong metrics, like revenue and earnings growth and improving earnings per share, a host of less tangible factors help separate the great from the good.
How strong is the company's competitive advantage, for example? How good is the management team? And how innovative or disruptive is the company - and does it even need to be?
In this episode of Buy Hold Sell, David Wilson from First Sentier Investors and Joe McCarthy from Elston Asset Management join Livewire's Hans Lee to share their process for identifying growth stocks, the key metrics they focus on, and the red flags that would see them steer away from opportunities.
Not content with just theorising however, they each share their top ASX growth stock for 2025.
Note: This episode was recorded on Wednesday 30 January 2024.
Last year saw markets rally strongly, powered primarily by growth stocks. Aside from some volatility earlier this week, that bullish trend has continued this year, with growth stocks again leading the way.
As most of you would know, every year we conduct a survey as part of our Outlook Series, where we ask a host of questions, including “What is your favourite growth stock?”
This year, nearly 5000 of you shared your thoughts with us across the Livewire and Market Index platforms, and in this first episode of Buy Hold Sell for the new season, you’re in for a real treat.
We’re going to run the ruler over five of your most-tipped growth stocks. To do that, Livewire's Hans Lee is joined by Joe McCarthy from Elston and David Wilson from First Sentier Investors.
For good measure, our guests each bring along a stock they think has great growth prospects in 2025, despite not ranking in the top five of your most-tipped stocks.
Note: This episode was recorded on Wednesday 30 January 2024.
Legendary investor Warren Buffett once quipped:
“Diversification is protection against ignorance. It makes little sense if you know what you are doing.”By the Oracle of Omaha’s standards, most of us are a bit ignorant, and gladly so, relishing the “free lunch” that diversification provides.
But what if you didn’t have that option? What if you were limited to holding just one stock for an entire year? That’s the challenge we put to 10 leading fund managers as part of our 2025 Outlook Series.
Livewire has handpicked a selection of investment experts for their outlook for the year ahead. Their answers reveal some fascinating insights into the companies and themes they believe tick the “sleep at night” box - stocks that stand out for their resilience, ability to handle uncertainty, or simply having a lot going for them.These include businesses riding key megatrends, supplying critical medicines, or executing strategies that position them to dominate key market segments.
To find out what the stocks are, watch the video, listen to the podcast, or read our edited transcript at this website.
Everyone is hunting for the next big winner in the stock market, but sometimes it pays to go back to basics. Where is a better place to start than by drawing on the wisdom of the Oracle of Omaha, Warren Buffett?
Buffett is famously quoted as saying his first rule of investing is "never lose money". After all, compounding your capital is much easier when starting from a higher base. It is equally simple for those interested in his second rule - "never forget rule number one".
There are always plenty of investors willing to give their views on which investments look good, but hearing about stocks to sell or at least avoid is less common.
Looking through the nominations in the wire below, a few things stand out. Many of the stocks named have had incredible runs in 2024 and have benefitted from hot themes, changes in regulation and the prospect of big wins with binary outcomes. Some of the success will no doubt have been the result of good management. It almost always is when share prices are heading north!
It's also evident that many of these stocks have loyal supporters who believe in the vision of an enigmatic founder. Whilst Tesla isn't on this list, it is probably one of the most outstanding examples of a widowmaker trade for short sellers, and Elon Musk has consistently defied the doubters.
The final point is that while our guests do note the quality of a number of the businesses, valuation often becomes the barrier. Buffett, the world's greatest investor, attained this status by being ruthlessly disciplined about the price he was willing to pay for a stock and equally disciplined when it came to selling. Buffett has been aggressively offloading his Apple shares despite its ubiquitous presence in our daily lives.
Having already named their growth picks, we've asked our guests to nominate the stocks they're avoiding in 2025.
Sometimes, the best investment ideas are the ones that either no one thinks of or the herd has left for dead. Two years ago, Australian property trusts finished the year down 20% as the fastest interest rate hiking cycle in 40 years left a scarring impact on valuations. But if you were, to paraphrase Warren Buffett, being greedy and buying up REITs in 2023 when others were fearful, you would have finished up with the second best-performing asset class in the following year.
Or, consider Chinese equities, cellar-dwellers in 2021, 2022, and 2023. But as of the end of Q3 2024, they actually top the BlackRock asset class quilt. In other words, being courageous (given the right research, attractive fundamentals, and some luck) can sometimes net you the biggest returns. And of course, who could forget some of the bravest calls in all of investment folklore. Once upon a time, short US housing was a massive bet. But Michael Burry and Steve Eisman are now famous for it. Or buying British Pounds and converting them to German Deutsche Marks was a very brave way to short the British economy. But thanks to his research and his guts, George Soros made a $2 billion profit and earned the moniker "the man who broke the Bank of England."
With this spirit in mind, we've asked 10 young-gun stock pickers to tell us about a contrarian investment they are backing in 2025. The stocks they mention span the full length of the consumer - from long-forgotten retailers to luxury brands known the world over.
Other honourable mentions include growth stocks which may have been forgotten about in this AI-induced rally and four names linked to the commodities trade, which must say something about where fundies are finding the most value right now.
To find out what the stocks are, watch the video, listen to the podcast, or read our edited transcript at this website.
Move over big tech, there are more opportunities in town.
After starting 2024 with earnings downgrades for a range of sectors and a slowdown in consumer spending, it was a bumper year for a number of sectors. Consumer discretionary was one surprise winner, with well-positioned brands like JB Hi-Fi and Nick Scali taking charge. Australian banks facing into a tougher environment continued to outperform, as did the financial sector on the whole, with insurers taking advantage of higher premiums. Biotech also started to surge, as falling rates outside of Australia and a number of successful clinical trials bolstered the sector.
Of course, the big tech companies continued to dominate and push markets to record highs - it's hard to ignore the extraordinary growth in the likes of Nvidia for example, but it's worth noting the pace of the growth seems to be moderating somewhat. With valuations at a premium in the tech sector, there are a range of other areas where fund managers are hunting for big growth. Now could be a great time to be looking at these industries and economies.
2025 has started on a promising footing. Inflation seems to be moderating, global rates are finally falling, and there are signs of strength and improvement in a range of economies. The scene has been set for a big year in markets. Is it any wonder the experts seem decidedly bullish?
2025 could be the year for healthcare companies to continue to really fly, the energy transition to push certain commodities to new heights and the return of manufacturing.
As part of Livewire’s annual Outlook Series, we recently asked 10 of Australia’s top fund managers to answer which industries, sectors or areas of the market they see the biggest growth potential in for 2025. We also asked them to name at least one stock they are using for exposure.
Our featured fund managers include (in order of appearance):
- Sam Ruiz, T.Rowe Price
- Jessica Farr-Jones, Regal Funds Management
- Nick Guidera, Eley Griffiths Group
- Elise Kennedy, Schroders
- Lucas Goode, IML
- Zoe Middleton, Platinum Asset Management
- Todd Warren, Tribeca Investment Partners
- Rachel Folder, Pendal Group
- Brittany Isakka, Spheria Asset Management
- James Barker, Ellerston Capital
Note: The information provided is not intended to be a recommendation and is offered in the spirit of the Outlook Series. None of the fund managers invest in a single industry or theme; they incorporate these within a broader diversified portfolio where they adjust exposures over time based on their analysis of activity and stocks. Please do your own research and seek advice from a professional before making any investment decisions. Past performance is not a reliable indicator of future returns.
You can watch the video by clicking the player, listen to the podcast, or read an edited transcript at the following website. These interviews were filmed on Tuesday, 10 December 2024.
The name Thomas Rowe Price Junior should have been consigned to the investing scrap heap.
Born in 1898, Price’s career was just hitting its stride as the Great Depression hit and hit hard. At the time, he was the head of investment for the broking firm MacKubin, Legg and Co., but instead of developing great hate for markets, he fell even more in love with them.
That inspired him to start T. Rowe Price and Associates in 1937, with a then-revolutionary focus on growth investing.
His guiding philosophy was that by investing in well-managed companies operating in deep pools of opportunity, he could generate returns ahead of inflation and the overall economy.
It’s a philosophy that would earn Price the moniker the “Father of growth investing”. T. Rowe Price still operates to this day and manages around US$1.6 trillion globally.
So, how would Price’s philosophy stack up today? Probably pretty well. From 1990-2020, growth stocks delivered an average annual return of about 12%, compared to around 9% for value stocks.
Over the journey, growth investing has shown resilience during economic downturns, as companies with strong fundamentals and innovative products tend to recover faster and maintain their competitive edge.
With all this in mind, we asked ten of Australia’s brightest investment minds, covering both ASX and global stocks, for their top growth pick in 2025.
Anyone with children or grandchildren will no doubt have said at some point, "You'd better be good so that you end up on Santa's 'nice' list." Of course, the inference is that nice children get more presents.
So, in the spirit of Christmas, this latest episode of Buy Hold Sell saw Henry Jennings from Marcus Today and Hugh Dive from Atlas Funds Management run the ruler over a handful of stocks and decide whether they've been naughty or nice.
For good measure, they each also nominate a stock they see as being on the naughty list in 2025. It could be a name that has done well this year but won’t be able to maintain its good behaviour, or it could be a naughty stock that hasn’t learned its lesson.
Note: This episode was recorded on Wednesday 4 December 2024.
Every year, there are a couple of critical investment decisions that investors need to get right in order to set themselves up for a good year.
These big decisions often trump stock picking or catching the latest fad at the right time. Rather, they are fundamental to giving yourself a fighting chance of outperforming.
This year, if you did nothing else, buying the banks and selling the miners proved fruitful. A close second would have been staying long and strong in tech names, despite some of the nosebleed valuations we’ve all witnessed.
So, what are the key themes investors need to have on their radar as we head into 2025? To answer that question, Livewire’s Hans Lee sat down with Henry Jennings from Marcus Today and Hugh Dive from Atlas Funds Management.
In this episode, they reflect on what worked and what didn’t in 2024. They also highlight the key themes investors should have on their radars in 2025.
For good measure, they each pick one stock that they would bet the house on – if they had to. - and one stock to avoid.
Note: This episode was recorded on Wednesday 4 December 2024.
The end of the year naturally brings a time of reflection. We collectively get a moment to breathe and reflect on our family, friends, and work.
For those who play Mr. Market's game, we also invariably run a critical eye over our portfolios and make some decisions on what to keep and what to turf like four-day-old Christmas leftovers.
Shedding the duds also means hunting for new opportunities and while piling into the top 10 best performers from this year is always tempting, there are probably some equal, if not better opportunities to be had in the downtrodden.
With that in mind, this latest episode of Buy Hold Sell sees Henry Jennings from Marcus Today and Hugh Dive from Atlas Funds Management rummaging in the bargain bin like someone who camps out for the Boxing Day sales. Will they find any unloved gems?
As a bonus, Henry and Hugh each nominate a stock they think is set to get going in 2025.
Note: This episode was recorded on Wednesday 4 December 2024
Every now and then, a company captures the attention of the entire market. Like lightning in a bottle, these companies are typically doing something innovative, disruptive and, more often than not, something that was previously considered impossible.
The narrative around the company fuels the share price, and vice versa, and provided earnings keep up, a market darling is born.
A previous example was Afterpay, which rocketed to notoriety, riding a wave of Buy-Now-Pay-Later fever. A current example is Life360 (ASX: 360) which has achieved market darling status and has been named by some as the most compelling growth stock on the ASX right now.
So what are the stocks that the market is loving today? And are there any that have run too hard, with their share prices and outlooks departing from reality?
To answer those questions, Livewire’s Ally Selby was joined by Andrew Peros from Ausbil and David Keelan from Ellerston. In this episode, they run the ruler over three market darlings, and each name a stock they think is flashing red.
Note: This episode was recorded on Wednesday 20 November 2024.
Ahh, the mystical 10-bagger. A stock that has delivered its investors a 10x return on their initial investment. Initially coined by legendary investor Peter Lynch, who was a fan of discovering undervalued stocks with sustainable and attractive earnings per share growth, a love of 10-baggers saw Lynch's Magellan Fund achieve a 29.2% average return over the 13 years he managed it.
In his book, One Up on Wall Street, Lynch wrote, “In my business a four-bagger is nice, but a ten-bagger is the fiscal equivalent of two home runs and a double.”
While this anonymous writer may not know anything about sports, I do know a few talented local fund managers who can help investors identify the ASX's next great 10-baggers.
So, in this episode, Livewire's Ally Selby was joined by Ausbil's Andrew Peros and Ellerston's David Keelan. They share their secrets to identifying long-term compounders, the importance of backing strong founders, the red flags investors should look out for, and whether profitless companies are a problem or worth the risk.
Plus, they each name a company that they believe could become the ASX's next 10-bagger.
Note: This episode of Buy Hold Sell was recorded on Wednesday 20 November 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/could-these-2-stocks-become-the-asx-s-next-10-baggers/
Small caps are nimble, fast-growing companies that punch well above their weight when it comes to delivering returns.
Small caps may not have the size and scale of their large-cap counterparts, but that’s exactly what makes them so exciting. These companies are often innovators or disruptors, capturing niche markets and delivering rapid growth as they expand. It’s no wonder they’ve become a favourite hunting ground for investors looking for the next great 10-bagger.
However, investing in small caps isn’t without its risks. While some go on to become the blue chips of tomorrow, others can stumble as they navigate challenges like scaling up, raising capital, or competing against larger, better-resourced rivals. That’s why picking the right small-cap stocks is critical - and that’s exactly what this episode aims to help you do today.
In this episode, we’ll delve into five ASX-listed small caps with the help of David Keelan from Ellerston Capital and Andrew Peros from Ausbil Investment Management.
From telecommunications to engineering, video game development, and even cyber safety for kids, these companies operate in sectors brimming with opportunity. Some have delivered spectacular returns over the past year - like Superloop, which has soared 215%, and Qoria, up 105%. Others, like Playside Studios, may be flying under investors' radars.
So, are these stocks poised for further growth, or is it time to cash in? You'll find out in this episode of Buy Hold Sell.
Note: This episode was recorded on Wednesday 20 November 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-of-the-asx-s-fastest-growing-small-caps/
Traditional long-only investors, who don't tinker with their cash levels much, typically participate in all of the market's upside when it is flying and all of its downside when it's not. Markets typically increase over time, so this is a perfectly acceptable way to invest.
Long/short investors, however, can also profit when markets fall—but that's too simplistic an explanation. It suggests that long/short managers make money equally when markets go up and down, which is rarely the case.
Because long/short managers are also active beta managers (i.e. they pick stocks to outperform a benchmark or achieve a specific objective), they typically capture most of a market's upside while significantly limiting losses on the downside.
That means that much of their alpha (overall outperformance) is often generated by providing much better protection when things are bad versus smashing the market when it is flying.
With all that in mind, what better time to ask two long/short managers for their top defensive picks than right now - when equity markets are at all-time highs and valuations are on the ritzy side?
On this episode, Livewire's James Marlay is joined by Jun Bei Liu from Tribeca and David Moberley from ClearLIfe Capital for their analysis of five stocks that could weather a coming downturn - whenever that may be.
Note: This episode was recorded on Wednesday 6 November 2024.
One key function of long/short fund managers is to compare similar companies and trade them against each other.
These companies are often found within sectors but can also be found across sectors, as companies with similar characteristics.
Once identified, a long/short manager will buy the stronger-performing company in the pair and sell the weaker-performing company. This is known as a 'pairs' trade. This strategy also has the benefit of being market-neutral (given one long and one short trade in the pair).
The ASX is littered with potential pairs trading opportunities. Some examples include Coles and Woolworths, Fortescue and Rio Tinto, and Santos and Woodside.
Given the focus on comparing companies and actively trading them against each other, who better to ask for their best and worst picks in a sector than a couple of long/short fund managers?
For those who love stock picks on both sides of the ball, this episode is for you.
Livewire's James Marlay was joined by Tribeca Investment Partners' Jun Bei Liu and ClearLife Capital's David Moberley to discuss their best and worst picks in five different sectors.
Note: This episode was recorded on Wednesday 6 November 2024.
Lithium darling Pilbara Minerals has overtaken Flight Centre as the most-shorted stock on the ASX. After what seems like years at the top of the list, the travel company has dropped down to the 30th most-shorted stock on the ASX - with a short interest of 5.75%.
Today, only two of the 10 most-shorted stocks are not miners - while out of the top 20, only seven stocks are not within the minerals and resources sectors. It's fair to say then that the market remains bearish on the outlook for many of these stocks - with lithium and uranium miners heavily featured in the list.
So, is there any value among the most shorted stocks on the ASX? Or should investors be steering clear of these stocks?
To find out, Livewire's James Marlay was joined by Tribeca Investment Partners' Jun Bei Liu and ClearLife Capital's David Moberley.
They analyse three of the most heavily shorted stocks on the ASX - including Boss Energy, IDP Education and Seek - and each name a stock that they believe could see a short squeeze.
Note: This episode was recorded on Wednesday 6 November 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-hunting-for-value-among-5-of-the-asx-s-most-shorted-stocks/
Locally, founder-led businesses have been making headlines for all the wrong reasons. Take the downfall of Australian tech billionaire Richard White of WiseTech Global, for example, or the tax scandal claims circling Mineral Resources' Chris Ellison.
On the global stage, founders can be far more divisive. Elon Musk is now being sued by Philadelphia's district attorney over his US$1 million daily election giveaways in a bid to boost Donald Trump's election campaign. In response, he posted a photo of a daily winner with a cheque on his social media platform X. Meanwhile, scandals seem to continuously orbit Facebook/Meta founder Mark Zuckerberg - who has been accused of (among other things) being a robot.
In China, Alibaba's founder and leather jacket enthusiast Jack Ma literally disappeared after criticising the Chinese government. Many thought he was dead.
So, is it worth investing in companies with controversial CEOs, founders and leaders? Or should investors be focusing on companies with leaders who have their heads down and are focusing on business growth instead?
To find out, Livewire's Ally Selby was joined by Antipodes' Jacob Mitchell and Magellan's Arvid Streimann.
Note: This episode was recorded on Wednesday 23 October 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-with-controversial-leaders
We are only a week away from the US election - and it's arguably still anyone's guess who could win.
Currently, betting markets have former US President Donald Trump at a 59% chance of winning a second term next week. That's despite Democrat nominee Kamala Harris leading in some of these same betting polls just one month ago.
So, what would a Trump second term mean for markets? Or if Kamala pulls off the win, how should investors position their portfolios?
In this episode, Livewire's Ally Selby was joined by Magellan's Arvid Streimann and Antipodes' Jacob Mitchell for a deep dive into the US election and its impact on investors.
They discuss the macro forces that could shift as a result of a new administration or the status quo, the sectors and stocks that could benefit and suffer as a result of a Democrat and a Republican administration, and cast their prediction of who will become the next president of the United States.
Note: This episode was recorded on Wednesday 23 October 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/trump-v-kamala-what-a-win-for-either-party-will-mean-for-markets
With the US Federal Reserve cutting its cash rate by 50 basis points in September, Fitch Ratings predicts that the upper US federal funds target will fall to 4.5% by the end of the year, 3.5% by the end of 2025, and 3.0% by June 2026.
Meanwhile, JP Morgan expects the Fed will cut by another 50 basis points in November. Looking out over the next few years, JP Morgan notes the Fed’s “dot plot” has four more 25 bp cuts (totalling 100 bp) in 2025. It also notes that the Fed has increased projections for its neutral funds rate by another eighth of a percentage point to 2.875% — which it expects to reach in 2026.
No one has a working crystal ball, but if expectations are anything to go by, interest rates (in the US at least) are on their way south. And while we may never see 0% cash rates again, lower cash rates are still positive for equities.
So, in this episode, Livewire's Ally Selby was joined by Magellan's Arvid Streimann and Antipodes' Jacob Mitchell for their analysis of three interest-rate sensitive stocks that could benefit from this lower rate environment.
Plus, they name two big buys that they are betting on today with this in mind.
Note: This episode was recorded on Wednesday 23 October 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-interest-rate-sensitive-stocks-for-a-new-world-of-lower-rates/
Founder-led companies typically outperform their peers over the long term. Driven by a strong alignment of interest, a founder's long-term focus, and emotional dedication to a business's success, companies with founders at the helm are seen to be a safer bet than those with hired suits.
Take Milford Asset Management, for example, which found the three-year performance of the founder-led stocks within their portfolio (23 companies) returned 24.9% per annum against the Small Ordinaries 2.7% to April 2024.
Likewise, Solaris Investment Management found that over the last five years (from 2019 to 2024), the 12 largest founder-led companies on the ASX returned 420% while the benchmark accumulation index only returned 65%.
So, in this episode, Livewire's Ally Selby was joined by two Hall of Fame fund managers in Ellerston's Chris Kourtis and Airlie's Matt Williams for their analysis of five founder-led companies.
Are these bottom-drawer stocks, or should these founders get the boot? You'll find out in this episode of Buy Hold Sell.
Note: This episode was recorded on Tuesday 8 October 2024. You can read the edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-founder-led-companies-on-the-rise
With decades of experience under their belts, it's fair to say that Ellerston's Chris Kourtis and Airlie's Matt Williams know a thing or two about investing. While their styles differ quite widely - Chris is a contrarian and Matt's all about quality and solid balance sheets - they both have their eyes keenly focused on their next opportunity.
Interestingly, despite the different investment styles - valuation is one thing they can agree on - and make it clear that investors should take a fresh look at their portfolios and make sure they don't get caught out if we see a sell-off in the near future.
Similarly, management is something that both our Hall of Fame fund managers are watching. However, while Matt is searching for businesses with teams that can execute well and help a stock soar, Chris is looking for missteps that could see the market punish a business far more than it should.
So, in this episode, Livewire's Ally Selby sits down with Chris and Matt for their insights into how they are thinking about markets and the macro forces at play, as well as a deep dive into their strategies and what makes them tick.
Plus, they also share one piece of advice so that investors can be successful over the next 12 months, and a stock that can help investors on their way.
I should say this episode is quite long, so sit back, relax and get comfy. But then again, how often do you get to hear straight from two Hall of Fund managers in one episode?
Note: This episode was recorded on Tuesday 8 October 2024. You can read the edited transcript below.
https://www.livewiremarkets.com/wires/hall-of-fame-special-how-two-of-australia-s-best-invest
Each year, a fund manager is added to the Hall of Fame. It's an illustrious list, including only the best of the best Australian funds management talent - the likes of Olev Rahn, Kerr Neilson, Peter Morgan, Anton Tagliaferro, Catherine Allfrey and more.
Given another name will be added to the list later this month, we've called on the big guns - Hall of Fame alumni Chris Kourtis from Ellerston Capital and Matt Williams from Airlie Funds Management, who were inducted into the Hall of Fame in 2018 and 2022 respectively.
With a unique opportunity to have two Hall of Famers in one room, Livewire decided that the best use of their talent would be to pick apart each other's highest-conviction stock picks.
So, in this episode, Matt and Chris share their best ideas today - and joyfully point out the holes in each other's theses.
Note: This episode was recorded on Tuesday the 8th of October 2024. You can read the edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-2-hall-of-fame-investors-analyse-each-other-s-best-ideas
For years, experts have predicted a coming surge for copper. BHP, for instance, believes that copper demand will grow by around 70% to over 50 million tonnes (Mt) a year by 2050. For context, the total copper demand in 2023 was 31 million tonnes.
But copper prices haven't really gone anywhere over the last three years - sitting at around the mid-US$4 level since November 2021.
According to today's guests, slowing global economies has had a dampening effect on demand and kept copper prices suppressed at these levels. But looking out over the next five to 10 years, that demand will increase - meaning, it will be very hard for supply to keep up. The Fed's recent 50 bp rate cut is a catalyst - and supply shortages mean this theme won't last for 18 months or two years but for many years to come.
So, in this episode, Money of Mine's Matt Michael was joined by Perennial's Sam Berridge and Argonaut's David Franklyn for their answers to the big copper conundrum.
They analyse three copper stocks listed locally in Australia - including Sandfire Resources (ASX: SFR), Metals Acquisition (ASX: MAC) and Evolution Mining (ASX: EVN).
Plus, they both name two big BUYS in the copper space that they are bullish on today.
Note: This episode was recorded on Thursday 19 September 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-copper-s-time-has-finally-come-and-2-big-buys
Uranium prices have cascaded 23% since hitting a high early in the year, now trading at around US$81/lb. However, Argonaut's David Franklyn believes this is a "pretty good long-term price" - arguing that while demand growth will be substantial, supply will eventually kick in.
Despite that, some of the ASX's uranium darlings have still had a pretty impressive 12 months, with Paladin Energy and Deep Yellow, for instance, up 16% and 27% respectively year to date. That said, other plays, like Boss Energy, have not had a good year - with its share price plummeting 22% in 2024.
So, where are fundies seeing value and which uranium stocks should investors be avoiding?
To find out, Money of Mine host Matt Michael was joined by Franklyn and Perennial's Sam Berridge for their analysis of their uranium market, where they believe prices could be headed, as well as some key learnings following the World Nuclear Association symposium.
Plus, they also provide their views on a couple of uranium stocks and name two they would label "buys" today.
Note: This episode was recorded on Thursday 19 September 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-uranium-stocks-as-prices-bottom-out
Gold prices are trading at all-time highs, with the yellow metal soaring more than 38% over the last 12 months alone. The "safe haven" commodity's price has been driven by continued economic uncertainty, rising geopolitical tensions, a weakening US dollar, and net purchases of gold by global central banks - particularly emerging market central banks in Asia.
But can gold prices continue even higher from here? And if so, which ASX-listed players are likely to benefit?
To find out, Livewire has handed over the reins to our friends in Perth, Money of Mine, for their specialist knowledge of the resources sector.
Host Matt Michael sits down with two Perth-based fund managers with their ears to the ground on all things resources stocks - Perennial's Sam Berridge and Argonaut's David Franklyn.
In this episode, they analyse the lay of the land when it comes to gold, their preferred exposures in terms of established players versus juniors for greater gold price leverage, and share the stocks they would be selling despite the stellar run in prices.
Note: This episode was recorded on Thursday 19 September 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-gold-soars-to-new-highs-but-fundies-are-selling-these-2-stocks/
Investors love a dividend. Not only do they help provide investors with passive income during even the rockiest periods in markets, but they also make up a significant portion of Australian investors' total return over the long term.
While the current outlook for dividends for the Aussie market may not be super hot, some stocks are boosting their dividend payouts over the next 24 months.
So in this episode, Livewire's Ally Selby was joined by Ausbil Investment Management's Michael Price and Martin Currie's Reece Birtles for their analysis of three stocks with strong dividend per share growth expectations in both 2025 and 2026.
Plus, they each share a stock they are buying today given its strong dividend growth expectations in the future.
Note: This episode was recorded on Wednesday 11 September 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-boosting-their-dividends-over-the-next-2-years/
Let’s face it: We’re all capable of being mesmerised by headlines.
Whether it's a cracking headline on Livewire or an attractive headline price at the shops ($199 is always more appealing than $200), we’re often reluctant to read the fine print or understand what’s going on beneath the surface.
But that reluctance can get you into trouble, particularly when it comes to income investing.
There is a point at which a headline yield starts to look more like a pitfall than a probability and there are ways to construct portfolios that maximise the income opportunity.
If you’re wondering what that point is, then wonder no more. On today’s episode of Buy Hold Sell, Michael Price from Ausbil and Reece Birtles from Martin Currie share with Livewire's Ally Selby the number at which a dividend yield becomes a red flag.
They also share the factors they look for when hunting for great income stocks and, of course, a couple of opportunities they particularly like right now.
Note: This episode was recorded on Wednesday 11 September 2024.
While the August reporting season was mixed itself, the dividend outlook isn't so rosy.
Companies are hoarding their cash, with the payout ratio of the Australian market falling from 62% pre-COVID to 53% today, according to Martin Currie.
The dividend yield for the Australian stock market has also fallen in recent years, with the All Ords now yielding 3.70% compared to the historical average of 4.07%.
So, should investors still hold companies that have announced they will be cutting their dividends or slashing them completely?
To find out, Livewire's Ally Selby was joined by Martin Currie's Reece Birtles and Ausbil Investment Management's Michael Price for their analysis of three stocks that have done exactly that.
Plus, for a little bit of a challenge, we asked our guests to name a stock they are buying today despite announcing they would be cutting or culling their dividends at their August reports.
Note: This episode was recorded on Wednesday 11 September 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-slashing-their-dividends/
If you feel like your portfolio has taken a hit over the last month, spare a moment of silence for shareholders in stocks like Johns Lyng Group, Audinate, Tabcorp, Megaport, A2 Milk, Kelsian, Mineral Resources, EML Payments, Yancoal, Star Entertainment, Cettire, Liontown, Neuren Pharmaceuticals, Red Hill Minerals, and Boss Energy.
All in all, 117 companies in the All Ords shed more than 10% during the month, 29 saw their share prices fall more than 20%, and eight tumbled more than 30%. For context, the All Ords itself ended the month pretty much flat.
So, in this episode, Centennial Asset Management's Matthew Kidman was joined by First Sentier Investors' David Wilson and Medallion Financial's Michael Wayne for their analysis of three stocks that have been smashed over the past month in the hunt for some value on the ASX.
Plus, the fundies also name two stocks they believe have serious upside ahead of them.
Note: This episode was recorded on Tuesday 27 August 2024. You can read the transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-3-stocks-that-have-been-smashed-and-2-big-buys
Just like the leaders and losers of the ASX 200 in 2024, the August reporting season has been a tale of two halves.
According to FNArena's corporate results monitor, 36% of companies have missed analyst expectations this results season, while 30.4% have delivered beats. 33.7% of companies delivered results that were in line with analyst expectations. Unsurprisingly, there have been more downgrades than upgrades over the past month.
So, to help you digest the good, bad and (let's face it, mostly) ugly of the FY24 earnings season, Centennial Asset Management's Matthew Kidman was joined by Medallion Financial's Michael Wayne and First Sentier Investors' David Wilson.
They analysed some of the recurring themes that emerged over the last month, revealed whether they have made any portfolio changes in light of these, and named some of the companies that really impressed with their results.
Plus, they share the company that they think had the worst result this August.
Note: This episode was recorded on Tuesday 27 August 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/the-best-and-worst-results-this-reporting-season/
We've seen some real whiplash market moves this reporting season. Take Megaport, for instance, which fell 21% in one trading day. Or Audinate, which fell 36% on its preliminary results. Or, on the other side of that, WiseTech, which soared more than 18% on its stellar report.
But what about the stocks that didn't move, or hardly moved at all - despite releasing solid results this reporting season?
In this episode of Buy Hold Sell, Centennial Asset Management's Matthew Kidman was joined by First Sentier Investors' David Wilson and Medallion Financial's Michael Wayne for their analysis of three stocks that did just that.
Plus, they named two solid results that believe could make major market moves in the next few months.
Note: This episode was recorded on Tuesday 27 August 2024. You can read the edited podcast below. https://www.livewiremarkets.com/wires/buy-hold-sell-5-solid-results-the-market-missed
Cash flow is a great measure that allows investors to get a good look at how well a company is balancing its earnings against its expenses.
Companies with positive and growing cash flows can hire talented people, invest in innovation, make acquisitions, buy back shares and pay dividends. And there are a few companies on the ASX that are currently spewing out a LOT of cash.
So, in this episode, Livewire's Ally Selby was joined by Perpetual's Nathan Hughes and Hayborough's Ben Rundle for their analysis of three highly cash-generative stocks. Plus, they each name two cash flow kings of their own.
Note: This episode of Buy Hold Sell was recorded on Wednesday 14 August 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-spewing-out-a-hell-of-a-lot-of-cash
Management teams can make or break a business. Good management teams focus on a company's long-term success, are aligned with shareholders, and are usually good stewards of capital.
Bad management teams, however, may make "transformational acquisitions" that aren't in the best interest of a business, take on too much debt, dilute shareholders, and are more focused on the short term.
Management teams - whether they be founders or hired suits - are particularly important to the success of small and mid-cap companies. These companies need aligned and driven leaders to help navigate the many economic potholes they will likely encounter, and help steer the team so a business can continue on its path to growth.
So, in this episode of Buy Hold Sell, Livewire's Ally Selby was joined by Perpetual's Nathan Hughes and Hayborough's Ben Rundle for their tips on distinguishing the best management teams in the business.
Plus, they name their favourite management teams across technology, financials, retail, healthcare and resources.
Note: This episode of Buy Hold Sell was recorded on Wednesday 14 August 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/the-13-best-small-and-mid-cap-management-teams-on-the-asx
Like most things in life, stock sell-offs come down to simple supply and demand. If there are more sellers than buyers, a company's share price will fall.
But in today's market, nearly 30 companies now trade at 52-week lows and many others have suffered double-digit losses over the last 12 months.
So, are these oversold companies value traps or investable opportunities?
To find out, Livewire's Ally Selby was joined by Perpetual's Nathan Hughes and Hayborough Investment Partners' Ben Rundle.
They analyse three oversold companies and also name two beaten-down stocks that they believe are a buy today.
Note: This episode of Buy Hold Sell was recorded on Wednesday 14 August 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-oversold-asx-stocks
Growth stocks had been on a tear in 2024, with investors betting big on rate cuts at the end of the year and throughout 2025. The last month, however, has been a slightly different story.
The NASDAQ 100 has dropped more than 13% since hitting a peak on July 10. And while our local tech tracker, the S&P All Tech Index (XTX) held up relatively well throughout July, the index crashed 8% in the first week of August.
While the last week has been painful for many investors, growth stocks are now far cheaper than they were a few weeks ago. So, is now the time to load up on some of these names?
To find out, Livewire's Ally Selby was joined by Marcus Today's Henry Jennings and Market Matters' James Gerrish for their analysis of five of the fastest-growing stocks on the ASX - according to earnings per share (EPS) expectations for FY25.
Happy bargain shopping!
Note: This episode was recorded on Wednesday 31 July 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-of-the-fastest-growing-stocks-on-the-asx-for-fy25
It's no secret that the ASX is incredibly concentrated. 50% of the ASX 200 is made up of banks and miners. In the top 10 stocks on the ASX alone, only three (CSL, Wesfarmers and Goodman Group) don't fit within the financial or materials sectors.
The S&P/ASX 200 Financials index has risen 23.99% over the last 12 months, while the Banks index has pushed 27.82% higher. All the indices that track materials and miners, on the other hand, are in the red - except for the index tracking gold companies, which has soared 19.04%. For context, the ASX 200 has lifted 8.88% in the last 12 months.
So, is concentration a curse? Or should we be putting our trust in Mr Market to get it right?
To find out, Livewire's Ally Selby was joined by Market Matters' James Gerrish and Marcus Today's Henry Jennings.
They share the risks and opportunities that come with concentration, how they are positioned on banks and miners, as well as one theme (and one stock) they are really excited about over the next 12 months.
And just because we love a dash of drama, we also asked our guests to name a big bank or miner that they would rate a "STRONG SELL" today.
Note: This episode was recorded on Wednesday 31 July 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/50-of-the-asx-is-banks-and-miners-should-you-bet-against-the-market
It's not shaping up to be an easy reporting season, with weakening consumer sentiment and business conditions, as well as a softening labour market, taking a toll on Australia's listed companies.
That said, while analysts believe earnings will disappoint this August results season, with Goldman Sachs and Macquarie predicting a 3.8% and 6% drop respectively, they dangle the carrot for investors - arguing that earnings will rebound over the year ahead.
So which stocks could surprise investors, beating expectations this results season?
To find out, Livewire's Ally Selby was joined by Marcus Today's Henry Jennings and Market Matters' James Gerrish for their analysis of three stocks that could beat consensus predictions for their earnings result this August.
Plus, they also put their necks on the line and each name a stock that they believe will crush it with an earnings beat.
Note: This episode was recorded on Wednesday 31 July 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-likely-to-surprise-to-the-upside-this-reporting-season
There are many market maxims that investors hold close to their hearts. Here are just a few of them:
- It's time in the market not timing the market.
- Buy the rumour, sell the fact.
- Be fearful when others are greedy. Be greedy when others are fearful!
- It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.
But perhaps one that should also be added to the list is "Two views make a market" - highlighting that to buy shares in a company, someone has to be willing to sell them - and vice versa.
So in this episode, Livewire's Ally Selby was joined by Loftus Peak's Alex Pollak and Magellan's Alan Pullen for a bit of a challenge.
We've tasked our fund managers to analyse each other's highest-conviction ideas in their portfolios today - including stocks like Netflix (NASDAQ: NFLX), Meta Platforms (NASDAQ: META), Amazon (NASDAQ: AMZN) and SAP SE (NYSE: SAP).
Plus, they also each name a stock that they would dub a high-conviction "SELL". As you'll soon find out, both of these stocks have sunk into the red in the past week.
Note: This episode was filmed on Wednesday 17 July 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-2-high-conviction-fundies-analyse-each-other-s-top-picks/
Back in May, Livewire sat down with the chief investment officer of a family office - i.e. the steward of a billionaire client's wealth.
The main takeaway, for this anonymous writer at least, was that Australia's ultra-wealthy are on the hunt for concentrated, high-conviction funds - those that hold a smaller number of stocks, look very different from the benchmark, and generate returns far different from the index too.
So in this episode of Buy Hold Sell, we're hoping we can learn what sets these types of funds apart - and of course, whether investors at home can replicate these strategies too.
To do that, Livewire's Ally Selby was joined by Magellan's Alan Pullen and Loftus Peak's Alex Pollak. They share the case for concentrated strategies, how they identify the stocks that make their way into portfolios, the perfect number of holdings, ideal holding times and turnover.
They also provide an example of a stock that didn't perform as expected and what they learnt from that, their best-performing positions since their funds' inception, and their highest conviction ideas from their portfolio of best ideas for markets today.
Note: This episode of Buy Hold Sell was recorded on Wednesday, 17 July 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/why-you-should-only-focus-on-your-best-ideas-and-2-to-get-you-started
Growth stocks have had a truly spectacular 12 months, with many fortunes being made from investing in stocks like NVIDIA (NASDAQ: NVDA) and Super Micro Computer (NASDAQ: SMCI), which have soared 154% and 170%, respectively.
In the last year alone, the NASDAQ 100 has lifted 26% - meaning, over the past five years, the bourse is now up 153%. Ahh! The benefit of retrospect.
So, is there any value left on offer among the world's greatest growth stocks?
To find out, Livewire's Ally Selby was joined by Loftus Peak's Alex Pollak and Magellan's Alan Pullen.
They analysed three growth stocks, including Qualcomm (NASDAQ: QCOM), Microsoft (NASDAQ: MSFT) and Walmart (NYSE: WMT) and each named a growth stock that they believe has been undervalued by the market.
Happy bargain hunting!
Note: This episode of Buy Hold Sell was recorded on Wednesday 17 July 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-mispriced-growth-stocks/
Healthcare stocks have been some of Australia's most consistent wealth generators, with stocks like CSL (ASX: CSL) skyrocketing more than 6000% since listing on the ASX 25 years ago.
Over the past 20 years, the S&P/ASX Health Care Index has far outperformed the rest of the market, lifting 994% compared to the S&P/ASX 200's 121% over that same period. By a long shot, it has been the ASX's best-performing sector over the past 20 years.
And yet, while COVID-19 put our health back into the spotlight, healthcare stocks have been a mixed bag since then. Yes, the developed world's populations are ageing - which spells good things for healthcare companies, but many of the sector's former darlings are now on life support.
So how can investors identify the companies with a clean bill of health? To find out, Livewire's Ally Selby was joined by two healthcare analysts in Alphinity Investment Management's Stuart Welch and Yarra Capital Management's Marcus Ryan.
They share some of the trends they are seeing in terms of valuation, cost pressures, and supply chain challenges, whether investors need specialist knowledge to be successful when investing in the sector, and the one non-negotiable healthcare companies need to make their way into these fund managers' portfolios.
Plus, they also analyse three healthcare companies, including CSL (ASX: CSL), Ansell (ASX: ANN) and Sonic Healthcare (ASX: SHL), and each name their highest conviction stock pick within the sector.
Note: This episode was recorded on Wednesday 10 July 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-2-high-conviction-healthcare-winners-for-fy25
Consumer stocks are split into two distinct categories - those that are sensitive to economic cycles (discretionaries) and those that aren't (staples). Both, however, have been on a tear over the past 12 months, despite a cost of living crisis that is continuing to take a bite out of Australians' wallets.
Take Lovisa, for instance, which has soared 59% over the past 12 months. Or Wesfarmers, up 35%. Or Nick Scali, up 44%. Meanwhile, consumer staples stocks, like Bega Cheese, Inghams, and Treasury Wine have risen 41%, 35% and 11% respectively.
All this is to say that the sector is looking pretty hot - other than the supermarkets, of course. However, with savings now starting to dry up, and the economy beginning to slow, how much longer can these stocks hold up?
To find out, Livewire's Ally Selby was joined by two consumer-focused analysts in Alphinity Investment Management's Jacob Barnes and Wilson Asset Management's Hailey Kim.
They share where they are seeing opportunities within the two sectors, some of the trends they believe investors should be aware of and outline which factors will be important to success over the coming 12 months.
Plus, they analyse three major players within the sectors and share their highest conviction buys right now.
Note: This episode was recorded on Wednesday 3 July 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/2-big-buys-and-the-next-steps-for-consumer-stocks
Over the past 12 months, the S&P/ASX All Tech Index has soared more than 28%, while the tech-heavy NASDAQ has skyrocketed nearly 33%, with investors betting big on the revolutionary change promised by artificial intelligence.
That's not to say there aren't risks - inflation remains stickier than we would have hoped, interest rates are likely to stay higher for longer (in Australia at least), and earnings need to deliver for companies to keep pushing higher.
So in this episode, Livewire's Ally Selby was joined by two tech analysts in Wilson Asset Management's Sam Koch and Alphinity Investment Management's Andrey Mironenko.
They analyse three of the market's tech darlings, including Life360 (ASX: 360), NEXTDC (ASX: NXT) and Data#3 (ASX: DTL), share how they are invested in artificial intelligence on the local bourse, and name some of the factors that will be key to investors success over the next 12 months.
Plus, they each name their highest conviction tech stock for markets today.
Note: This episode of Buy Hold Sell was recorded on Wednesday 3 July 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-2-high-conviction-tech-stocks-for-the-next-12-months/
Everyone loves a theme these days. Whether you’re an individual investor looking to capitalise on both short and long-term trends, or a product issuer looking to provide access to opportunities, themes are dominating the way we think and the way we invest.
And while themes will fall in and out of fashion (lithium, for example), it is important for us as investors to be aware of them and to understand how to access them, should we choose to participate.
In that vein, in this episode of Buy Hold Sell we’re unpacking three of the biggest themes from the first half of 2024 and asking if they still have legs.
To do that, Grady Wulff sat down with Steve Johnson from Forager Funds Management, and Luke Laretive from Seneca Financial Solutions.
And, for something a bit different, Luke and Steve each name a stock they like within each theme – that’s right, six hot buys to see out the rest of the year.
Note: This episode was recorded on Wednesday, 19 June 2024.
Boy oh boy, it has been a big first half. Interest rate expectations have whipped around, sticky inflation has confounded central banks, most commodities are surging - paticularly silver and gold - and AI has lit a fire under.... well, everything.
Did we miss anything? That's right, the ASX 200, like many global markets, is trading at all time highs, at the same time many are calling for a recession in the next 12 months.
By any stretch, that's a lot to unpack. To help untangle the market web, Grady Wulff sat down with Steve Johnson from Forager Funds Management, and Luke Laretive from Seneca Financial Solutions.
In this episode, they work through what has and hasn't worked so far in 2024, share what they think will drive markets for the rest of the year, and highlight one thing investors could get wrong over the next six months.
It wouldn't be an episode of Buy Hold Sell without talking stocks, so they each share their worst stock call so far in 2024, as well as one stock they would bet the house on (if they had to).
Note: This episode was recorded on Wednesday 19 June 2024.
End of financial year can be a drag. With tax time upon us, we need to give up an evening, possibly a weekend, to get our affairs in order.
But EOFY also affords us the opportunity to look over our investment portfolios, pat ourselves on the back for what has gone well, and undertake the cathartic experience of culling the underperformers.
It has been a surprisingly strong first half, despite high interest rates and inflation sticking around for longer than we would like, so hopefully it will be more of the former, and less of the latter.
With all that in mind, Grady Wulff sat down with Luke Laretive from Seneca Financial Solutions and Steve Johnson from Forager Funds Management for their analysis of three of the first half’s hottest stocks - all of which are trading near 52-week highs.
Plus, they also each name a stock that is in the too-hard basket right now.
Note: This episode was recorded on Wednesday 19 June 2024.
Franking credits are important for many investors, particularly those operating in a low or no-tax environment. A company paying a 5% fully franked yield, for example, gets grossed up to around 7% after franking. Juicy.
More than half of the companies listed on the S&P/ASX200 either fully pay or partially pay franked dividends, and it is important to know the relevant franking level.
With that in mind, Livewire's Ally Selby recently sat down with Peter Gardner from Plato, and Andrew Fraser from Merlon to discuss five stocks with sustainable and fully franked dividends.
For those unfamiliar with franking, they also discuss why franking is important and how it factors into their respective investment processes.
Note: This episode was recorded on Wednesday 5 June 2024.
There are currently 10 stocks with double-digit yields on the ASX, exactly half the amount there was this time last year.
While double-digit yields certainly sound enticing, investors should be aware that they could indicate that the market believes a company has limited growth prospects, a falling share price, or a one-off dividend.
For those not in the know, dividend yield is calculated by adding up all the dividends (both special and normal) paid over the last 12 months and then dividing that value by a stock's current share price.
So, are any of these double-digit yields sustainable?
To find out, Livewire's Ally Selby was joined by Plato Investment Management's Peter Gardner and Merlon Capital's Andrew Fraser.
They share at what point alarm bells should start ringing on the sustainability of these yields, and where they are seeing growing yields over the short and long term. They also each name a stock they are backing - which surprisingly, are both incredibly similar - for attractive income over the next few years.
Note: This episode was recorded on Wednesday 5 June 2024.
With interest rates up 4.25% in the space of two years, investors have entered a Goldilocks era for income. But while many retirees live happily off the income generated by some of the market’s dividend stalwarts, there are potential traps out there.
To help ensure you’re investing in companies with sustainable dividend yields, Livewire's Ally Selby was joined by Plato Investment Management’s Peter Gardner and Merlon Capital’s Andrew Fraser for their analysis of three widely owned dividend stalwarts (and for something different, none of these are iron ore miners).
Plus, they also call out two dividend darlings they now regard as traps.
Note: This episode was recorded on Wednesday 5 June 2024. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-dividend-darlings-and-2-traps/
Do you spend your days searching for the next spicy mining stock headed for the moon, a biotech promising revolutionary health advances, or a tech company changing the status quo?
If that sounds like you, you've come to the right place.
While Buy Hold Sell typically focuses on companies at the larger end of the market cap spectrum, this week, we're digging deeper in search of speculative stocks with upside potential.
This includes punter favourite Brainchip (ASX: BRN) - which we repeatedly receive requests to cover, as well uranium up-and-comer Nexgen Energy (ASX: NXG), and buy-now-pay-later company Zip Co (ASX: Z1P) - which have already soared 36%, 14% and 85% since the beginning of the year, respectively.
So are these stocks actually worthy of investors' attention? To find out, Livewire's Ally Selby was joined by IML's Daniel Moore and Tribeca Investment Partners' Jun Bei Liu.
Plus, they also each name a speculative stock in their portfolios that they would be buying at today's prices.
Note: This episode was recorded on Wednesday 22 May 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-speculative-asx-listed-stocks-with-upside-potential
From 1981 to 2022, the MSCI World Quality Index outperformed the MSCI World Index by 2.6% per year - while the growth and value styles generated returns that were pretty much identical to the broader market.
So, is the trend your friend?
In this episode, Livewire's Ally Selby was joined by IML's Daniel Moore and Tribeca Investment Partners' Jun Bei Liu for their thoughts on why investors should be taking a closer look at quality stocks right now - including the factors that investors should look out for when trying to identify the market's quality companies.
They also each name one large cap and one small cap that they believe are the highest quality companies on the ASX. And, just because you all know I love a bit of drama, they also name one stock that the market shouldn't classify as high quality anymore.
Note: This episode was recorded on Wednesday 22 May 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/4-of-the-highest-quality-companies-on-the-asx/
Time and time again, investment experts tell us punters the same thing - that earnings drive share prices.
When earnings per share is positive and continues to grow in each reporting period, it means that your share in a company's profit pie is continuing to grow as well. Higher EPS can often translate to a company's share price trading higher, as investors are willing to pay more for a company generating elevated levels of profits - particularly if this growth has been consistent over the long term - or is estimated to continue to grow well into the future.
So in this episode, Livewire's Ally Selby was joined by Tribeca Investment Partners' Jun Bei Liu and IML's Daniel Moore for their analysis of three stocks with EPS growth expectations higher than 25% over the next 12 months.
Plus, they each name a stock that they believe has attractive and sustainable earnings growth over the years to come.
Note: This episode was recorded on Wednesday 22 May 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-with-exceptional-earnings-growth/
If there is one thing investors have heard on repeat over the last 12 months, it's that there's a massive opportunity in small-cap stocks, which were, at the time, massively undervalued compared to their large-cap counterparts.
And while experts' predictions seem to have come to fruition, with the Small Ordinaries Index outperforming the ASX 100 since the beginning of the year, a handful of stocks - plagued by negative news - have been left behind by the benchmark.
Take IDP Education (ASX: IEL), for instance, which has seen its share price fall around 14% in 2024. Or Bapcor (ASX: BAP), also down 14%. Or Cettire (ASX: CTT), which has retraced the gains made in the early part of the year and is now trading back where it started.
So, in this episode, Livewire's Chris Conway was joined by Datt Capital's Emanuel Datt and OC Funds Management's Aaron Yeoh to see if there is any value in any of these beaten-down stocks.
Plus, they also each name a darling that has been headed higher in recent months - and they believe it can push higher still.
Note: This episode was recorded on Monday 6 May 2024.
Given interest rates remain at decade-long highs, and hopes of cuts continue to be pushed out into the future, it may be surprising for some that growth companies have continued to go from strength to strength.
The S&P/ASX 200 Growth Index, for example, has risen 7.76% over the past 12 months. In comparison, the S&P/ASX 200 Value Index has lifted just over half of that at 4.71%.
According to OC Funds Management's Aaron Yeoh, this is because a lot of companies have readjusted to a higher interest rate environment and have had a closer look at their cost bases, meaning earnings are now more sustainable for growth companies.
Similarly, Datt Capital's Emanuel Datt believes it's because valuations within small-cap growth opportunities still remain compelling compared to their large-cap counterparts, and in addition, can help investors earn higher returns to keep up with or exceed inflation.
So in this episode, Livewire's Chris Conway sat down with Datt and Yeoh for their tips and tricks for identifying good growth companies on the ASX.
They analyse the financial factors, management requirements, and competitive advantages that they believe are important to winning growth stocks, and each select a stock that ticks all these boxes and more.
Note: This episode was recorded on Monday 6 May 2024.
Growth stocks are the bread and butter of investors who are happy to stomach typically higher prices for exceptional above-market earnings growth.
These companies typically exhibit high earnings and sales growth, a unique product or service, significant market share in their industries, impressive moats, and loyal customers.
Take WiseTech Global, for example, which has seen its earnings grow at a compound annual growth rate of 43% since listing on the ASX, seeing its share price lift 2,319% (and counting) over that same period.
So in this episode, Livewire's Chris Conway was joined by Datt Capital's Emanuel Datt and OC Funds Management's Aaron Yeoh for their analysis of three quality growth stocks with stellar growth trajectories over the next five years. And as a sneak peek, there's only one stock our fundies agree on.
And just because we know you love a stock pick, each of our guests shares a strong buy they are backing over that same time.
Note: This episode was filmed on Monday 6 May 2024.
Just as in science, catalysts are the starting point for major change or action in life. It may be a whistleblower whose revelations lead to significant systemic change, or an enzyme that helps speed up a chemical reaction.
In investing, however, catalysts trigger a drastic change in a stock's share price trajectory. And while no one can know the future, the prediction of catalysts to come can help investors profit over the short term.
This could be new management, an earnings report, a new product/service announcement, legislative change, mergers and acquisitions, broker ratings changes, and for the short sellers out there, short reports.
So in this episode, Livewire's Ally Selby was joined by Elston's Justin Woerner and LSN Capital's Nick Sladen for their analysis of five small stocks with big catalysts on the horizon.
And for those looking for some spicy stocks for their portfolios, only one of these stocks is rated as a sell by one fund manager - and the other believes it is a buy.
Note: This episode was recorded on Wednesday 24 April 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-small-stocks-with-big-catalysts-on-the-horizon
Want to learn how to identify undiscovered stocks before the rest of the market does? Of course, you do - what else are you going to talk about at your next dinner party... Or at the pub over a lukewarm beer... Or around the office coffee machine?
In this episode, Livewire's Ally Selby was joined by LSN Capital's Nick Sladen and Elston Asset Management's Justin Woerner for a deep dive into how investors can do exactly that.
They share why investors, like you and I, may have an advantage in discovering mispriced stocks in the typically undercovered small and micro-cap arena, the screens they use to identify winning stocks, and one non-negotiable that every company that makes its way into their portfolios needs to possess.
They also outline the risks investors should be aware of when hunting for gems in this area of the market, and whether it's worth investing in IPOs - because God knows, this anonymous writer has been burnt doing exactly that.
And just to help you level up your dinner party/office/pub chat, we also asked Woerner and Sladen to name an under-the-radar stock they are buying today. You're welcome.
Note: This episode was recorded on Wednesday 24 April 2024.
There's something to be said about discovering a gem of a stock the rest of the market missed. Like uncovering a musician before the world does, or being the first to watch a TV series before everyone else's eyes are glued to the same screen. It's a great feeling - and one that may leave you asking, 'Am I better than everyone else?'
In most cases, probably not. But to help you on your way, this episode is dedicated to covering under-covered and undiscovered stocks. This anonymous writer is in the camp that everyone deserves a little confidence boost right now - particularly you, my dear reader.
Today's hunting ground is small-cap stocks - given these are typically less covered by analysts. The stocks in this episode have market caps between $500 million and $850 million, so they are also less likely to be in the playing fields of the big fund managers and are more likely to not be on investors' radars.
Livewire's Ally Selby was joined by LSN Capital Partners' Nick Sladen and Elston Asset Management's Justin Woerner for their analysis of these under-the-radar stocks.
Plus, they also each name an overcrowded small-cap darling that could be due for a sell-off from here.
Note: This episode was filmed on Wednesday, 24 April 2024.
As the name would suggest, future-facing commodities are those that will carry humanity forward as we take on the momentous task of decarbonising the world.
These are the commodities that are essential to the energy transition, including lithium, nickel, cobalt, manganese, graphite and copper.
Much of the demand for these commodities is expected to be driven by the uptake of electric vehicles over the next two decades, with governments around the world - including Europe, China, the US and Australia - providing incentives for people to 'go electric'.
We have already seen spikes in demand (and subsequent supply responses) for many of these commodities. And while the journey will likely remain volatile, on the whole, the wind only seems to be blowing one way;
- Most analysts predict that global demand for lithium will double or even triple by 2030, according to Deloitte
- Demand for battery-grade nickel is expected to increase 50% by 2030, according to Deloitte
- Cobalt consumption over the last decade has tripled globally due to rising demand for electronics and EVs, and the demand is set to double again by 2035
- Macquarie forecasts a doubling in graphite supply over the next decade but predicts a deficit in 2025 due to demand from the EV market
- Demand from the EV market is expected to take up more than 60% of global graphite demand by the end of 2030
- S&P Global Market Intelligence projected in 2022 that annual global copper demand will nearly double from 25 million to roughly 50 million tonnes by 2035
However you slice it, demand for these commodities is only going to grow and, in most instances, the question is whether or not supply will keep that. That will create a host of opportunities.
As such, we sat down with Lowell Resources’ John Forwood & Acorn Capital’s Rick Squire, to get their take on what's hot and what's not when it comes to future facing metals.
Note: This episode was recorded on Wednesday, 10 April 2024. You can watch the video, listen to the podcast, or read an edited transcript below.
There are a couple of hot commodities right now, including uranium, cocoa, and gold. The latter exploded higher in February this year after being stuck in a range for the best part of five years.
Several reasons have been posited for gold's renaissance, the primary being that investors who expect the Fed to cut rates have been buying the commodity.
A low-interest rate environment reduces the opportunity cost of holding non-yielding gold and weighs on the US dollar, making bullion cheaper for non-US buyers.
One of the other reasons has been the buying of central banks - led by the People's Bank of China - to ease reliance on US dollars. Central banks have always viewed gold as a store of value and a haven in times of economic volatility - the type that might be precipitated by dramatically changing rate expectations.
Whatever the reason for the rally, gold is hot and investors have been keenly focused on the opportunities presented by the rich assortment of gold stocks available on the ASX.
To help you sort the wheat from the chaff, we sat down with Lowell Resources’ John Forwood and Acorn Capital’s Rick Squire for their top picks and outlook on the gold sector.
Note: This episode was recorded on Wednesday, 10 April 2024.
The law of supply and demand determines commodity prices. Currently, the uranium market is undersupplied, just as more nuclear reactors requiring fuel are being brought online. Some reports suggest the market will remain in structural undersupply for more than a decade.
It’s one thing for an underlying commodity to rally. Where the rubber meets the road for investors, however, is in equities. In that vein, we engaged Rick Squire from Acorn Capital and John Forwood from Lowell Resources to discuss the risks and opportunities in uranium. They also share a couple of stocks that appear overpriced, as well as four names they would buy today.
Note: This episode was recorded on Wednesday, 10 April 2024.
Over the last five, 10, 15 and 20 years, mid-cap stocks have managed to outperform both their large and small-cap counterparts. They've done this with the same volatility as small caps and, over the last decade, they've grown earnings at around 7.5% per annum - more than double that of the small and large-cap indices.
So, why is this? According to Blackwattle's Tim Riordan and Auscap's Will Mumford, it all comes down to quality. These businesses are more likely to have established themselves with some sort of competitive advantage and have more of a growth runway ahead of them to expand globally.
Meanwhile, two-thirds of the ASX 20 - Australia's largest listed businesses - are either major banks, reliant on China's iron ore demand, or exposed to the declining long-term outlook for oil and gas.
So in this episode, Livewire's James Marlay was joined by Riordan and Mumford for a look at two companies that could push these incumbents out of the ASX 20.
Plus, they also provide a deep dive into the mid-cap segment of the market, the positive factors that investors should look out for, and some of the red flags to have on your radars.
Note: This episode was recorded on Wednesday 27 March 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/the-stocks-headed-for-the-asx-20-and-2-on-the-way-out/
Unless you've been living under a rock, you've probably noticed it's been an incredibly strong six months for global markets.
The ASX 200, for instance, has rebounded 13% over the past six months, while the S&P 500 and NASDAQ 100 have soared 23% and 24% respectively over that same period.
Elsewhere in the world, the UK's FTSE 100 has lifted 6% in six months, Japan's Nikkei has skyrocketed 28%, and India's Nifty 50 has enjoyed a 15% bump. All in all, the MSCI World Index (USD) is now 21% higher than it was six months ago. And to think, we haven't even seen Fed rate cuts yet!
So, in this episode, Livewire's James Marlay was joined by Blackwattle Investment Partners' Tim Riordan and Auscap Asset Management's Will Mumford for their analysis of three stocks that are yet to participate in the market rally.
And just because you can't truly appreciate the highs without the lows (and the good without the bad), we also asked our fund managers to name one soaring darling that they believe will soon run out of steam.
Note: This episode was recorded on Wednesday 27 March 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-3-stocks-ready-for-a-rebound-and-2-due-for-a-sell-off
Timecodes:
0:00 - Intro
0:30 - Is Orora a buy, hold or sell?
2:54 - Is Endeavour Group a buy, hold or sell?
4:33 - Is Arcadium Lithium a buy, hold or sell?
7:02 - Tim Riordan's stock that will run out of steam
7:53 - Will Mumford's stock that will run out of steam
In 2016, Bain & Company found that the companies most successful at maintaining profit growth over the long term disproportionately were companies where the founder was still running the business, still involved on its board, or where the principles the founder originally put in place persisted.
That's because founders possessed these three traits:
- Business insurgency - A unique feature or capability that gives a business purpose, waging war on industry norms on behalf of its clients.
- A "front line obsession" - A focus on the details at the front line and culture.
- The "owner's mindset" - Possessing the speed to act quickly and taking personal responsibility for risk and cost.
So, which founder-led stocks are flashing buy signals on the ASX?
In this episode, Livewire's James Marlay was joined by Blackwattle's Tim Riordan and Auscap's Will Mumford to find out.
*Note: This episode was filmed on Wednesday 27 March 2024.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-undervalued-founder-led-stocks*
By now, you’re probably aware of the stats highlighting the growth of ETFs in Australia (if not, they’re available here).
Alright, alright already, we get it… they’re very popular.
But just because something is popular, doesn’t always mean it is good, or that people know how to use it effectively (think Q-tips, running shoes, and Taylor Swift songs).
So, for this latest episode of Buy Hold Sell, we reached out to two advisors - people actually using these products in client portfolios – to get their take on the good, the bad, and the ugly across various factors and investment styles.
Be warned: When long-time friends Adam Dawes from Shaw and Partners and Andrew Wielandt from DP Wealth Advisory are together in the same room, there are often a few laughs to be had.
But you will also get practical and sound guidance, free from any spin – these two call it how they see it. So make sure to watch the video to find out Adam and Andrew's top ETFs for growth, income and value - as well as some they're cautious on.
Around 51% of Australians (or 10.2 million people) hold investments outside their homes and superannuation, according to the ASX. Of these investors, around 20% (or 2 million people) use exchange-traded funds (or ETFs) - up from 15% in 2020.
Investor interest in low-cost, liquid and diversified ETFs has seen assets under management in the industry explode over the last decade, with its market cap now reaching close to $190 billion. In fact, in the last 12 months alone, the market cap of the Australian ETF industry has surged 35.5% (or by $49.6 billion).
Given more investors are using ETFs than ever before, Livewire decided it would be worthwhile to go back to basics, reaching out to two ETF aficionados for their top tricks and tips on investing in these listed vehicles.
In this episode, Shaw and Partners' Adam Dawes and DP Wealth Advisory's Andrew Wielandt answer the internet's most common questions on ETFs. Plus, they also each name the one ETF they believe "rules them all". Note:
This episode was filmed on Wednesday 13 March 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/answering-the-internet-s-most-common-etf-questions
There are now more than two million Australians using exchange-traded funds (ETFs) to invest, an increase of 7% compared to 2022 (according to Betashares).
As of the end of February, there was $189.4 billion invested across 359 ETFs, and with BlackRock estimating the market could more than double by 2027, it seems there's no stopping the explosive growth of the low-cost, easily accessible ETF market.
So in this episode, Livewire's Ally Selby was joined by Shaw and Partners Adam Dawes and DP Wealth Advisory's Andrew Wielandt for their analysis of Livewire and Market Index readers' top-tipped ETFs for 2024.
For most of your ETFs, our financial advisers provide similar calls - but there's one in particular that has them divided - and it's a doozy.
Note: This episode was recorded on Wednesday 13 March 2024. You can read the edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-your-top-tipped-etfs-for-2024
Timecodes:
- 0:00 - Intro
- 0:31 - Is the Betashares Nasdaq 100 ETF (ASX: NDQ) a buy, hold or sell?
- 1:36 - Is the Vanguard Australian Shares Index ETF (ASX: VAS) a buy, hold or sell?
- 2:48 - Is the Betashares Global Cybersecurity ETF (ASX: HACK) a buy, hold or sell?
- 4:14 - Is the VanEck MSCI International Quality ETF (ASX: QUAL) a buy, hold or sell?
- 5:24 - Is the iShares S&P 500 ETF (ASX: IVV) a buy, hold or sell?
- 6:38 - Is the Vaneck Morningstar Wide Moat ETF (ASX: MOAT) a buy, hold or sell?
- 8:05 - Is the Global X Fang+ ETF (ASX: FANG) a buy, hold or sell?
- 9:55 - Is the Vanguard Australian Shares High Yield ETF (ASX: VHY) a buy, hold or sell?
- 11:49 - Is the Global X Physical Gold ETF (ASX: GOLD) a buy, hold or sell?
- 12:58 - Is the Betashares Global Uranium ETF (ASX: URNM) a buy, hold or sell?
Growth stocks have been off to the races over the last few months, with the S&P/ASX 200 Growth Index rebounding 14% since hitting a low at the end of October 2023. Over that same time period, growth stocks like Megaport (up 52%), NEXTDC (up 44%), REA Group (up 28%), WiseTech Global (up 60%), and Lovisa (up 76%) - among many others - have all skyrocketed.
While I am not so sure that there are many ways to skin a cat, there are many ways to measure growth - think sales growth, revenue growth, earnings per share growth, dividend growth, and more.
So in this episode, Livewire's Ally Selby was joined by Regal's Jessica Farr-Jones and Spheria's Brittany Isakka for their analysis of three stocks with trailing 12-month earnings per share (EPS) growth of more than 100%. You'll learn whether these stocks can continue to push earnings to the limit over the year ahead.
Plus, our guests also name an emerging growth darling within their portfolios that they are backing over the next 12 months.
Note: This episode was recorded on Wednesday, 28 February 2024. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-of-the-asx-s-fastest-growing-stocks/
How do you avoid the small-cap potholes and identify the fast-lane stocks on the highway to success?
In this episode, Livewire's Ally Selby was joined by Regal Funds Management's Jessica Farr-Jones and Spheria Asset Management's Brittany Isakka for their tips and tricks for investing in emerging ASX-listed stocks.
They also share their outlook on small and micro-caps for the year ahead, the recent major changes they have made to portfolios, and two stocks they are backing with exciting growth trajectories over the next five years.
Plus, because this anonymous writer loves a dash of drama, they also name one stock that they believe can no longer deliver growth for investors.
Note: This episode was recorded on Wednesday, 28 February 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/how-to-invest-in-small-and-micro-caps-and-4-emerging-stocks-for-the-next-5-years
If rates have peaked, which local cash rate futures indicate they have, long-duration growth names, small-cap stocks, and cyclicals are likely to continue to recover from here.
That said, there are some risks to that outlook - particularly given it's the market consensus. So in this episode, we'll be putting some of the ASX's up-and-coming small-cap growth and cyclical stocks to the test.
These small-cap stocks have had a stellar year, having risen an average of 117%. So can they do it again over the coming 12 months?
To find out, Livewire's Ally Selby was joined by Regal Funds Management's Jessica Farr-Jones and Spheria Asset Management's Brittany Isakka for their analysis of Life360 (ASX: 360), Temple & Webster (ASX: TPW) and HUB24 (ASX: HUB).
Plus, our guests each name a small-cap stock that they believe could be headed for large-cap status over the years to come.
Note: This episode was recorded on Wednesday 28 February 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-small-stocks-headed-for-large-cap-status
When it comes to income, you need a recipe for success. Sure, term deposits are cooking up around 5% yields right now, but for income-hungry investors, 5% may just not cut it.
That's where equity income comes in. The yield on the market itself has been around 4-5% over the last 20 years - and a diversified portfolio of stocks with rising and sustainable dividends and earnings growth can deliver far more income than that.
Then there are franking credits, which add a little extra flavour to investors' portfolios - and typically, an additional 2% in yield.
So, in this episode, we're serving up some of the market's dividend darlings and throwing the scraps (stocks with falling dividends) into the trash.
Livewire's Ally Selby was joined by IML's Michael O'Neill and Plato Investment Management's Dr Don Hamson for their analysis of three stocks with impressive 1-year forward yields.
Plus, they also name one stock they believe could see its dividends on the chopping block in 2024.
Please note that this episode was filmed before the recent announcement regarding ANZ's takeover approval of SUN by the ACCC. Note: This episode was filmed on Wednesday, February 14, 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-3-stocks-with-dividends-on-the-rise-and-2-on-the-chopping-block/
Over the 12 months to the end of December, housing costs rose 6.1%, alcohol and tobacco prices lifted 6.6%, medical costs bumped up 5.1%, and insurance and financial services prices soared 8.1%. We also spent more on food and non-alcoholic beverages, more on transport, and more on education.*
All this is to say that it costs a lot more to be alive today than it did 12 months ago, and this anonymous writer is starting to feel the bite. Sure, inflation is finally starting to cool, but you would be hard-pressed to find someone whose lifestyle hasn't been dampened by higher rates.
So this episode of Buy Hold Sell is focused on making your money work a little harder for you.
We've reached out to two income specialists in the form of Dr Don Hamson from Plato Investment Management and Michael O'Neill from IML, for their top tips and tricks for helping you generate more bang for your buck in 2024.
They share the stocks that have sustainable yields, name a few that don't, teach you how to avoid the traps that plague dividend-hungry investors, and last but not least, name one stock that they believe every income investor should hold in 2024.
Note: This episode was filmed on Wednesday 14 February 2024.
Global markets soared to new heights in 2023, with the MSCI World Index (AUD) lifting 23.2%. Lucky for income-hungry investors, this saw dividends grow with it, with payouts up 8.9% in Aussie dollar terms, according to Plato Investment Management.
While the majority of investors around the globe enjoyed increased dividend payouts in 2023 (compared to 2022), Australian investors were among the few who received less bang for their buck during the year, with dividend payouts falling 5.4%. Despite this, Australia was still the fifth-highest dividend-paying country in the world in the fourth quarter.
So, where can investors generate more dosh for their dollar in 2024? Particularly as the cost of living continues to bite our bottom lines?
In this episode, Livewire's Ally Selby was joined by Australia's two "Dividend Doctors" - Dr Don Hamson from Plato Investment Management and Michael O'Neill from IML.
They run the ruler over three stocks with high expected one-year forward yields in 2024. Plus, they each name one stock that they believe could announce a monster dividend in the year ahead.
Note: This episode was recorded on Wednesday 14 February 2024. You can read the edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-with-monster-dividends-in-2024/
Given the underperformance of small and mid-caps since 2021, and the fact that central banks have tipped the end of the rate-hiking cycle, many money managers are spruiking the coming wave of capital that could enter the smaller end of the market in 2024.
While small caps tend to outperform post-recession - and we haven't seen one of those - the Small Ordinaries Index has already rebounded around 16% since hitting a low at the end of October. So is there more where that came from?
To find out, Livewire's Ally Selby was joined by T. Rowe Price's Randal Jenneke and Tribeca's Jun Bei Liu for their analysis of five of Livewire and Market Index readers' top-tipped small and mid-cap stocks for 2024.
There's definitely a theme with this list - all of the stocks are either uranium darlings or biotech stars. In 2023, these five stocks delivered an average return of 90%. So there's high hopes that they can do the same over the year ahead.
Plus, we also asked our guests to name two small stocks that they believe could outperform in 2024.
Note: This episode was recorded on Wednesday 31 January 2024.
Last year, we asked two fund managers what they would do if they could start completely from scratch. It seemed to hit a nerve with our readers, with the episode turning out to be the most popular of the year.
It's likely because we all, at some point in our investment journeys, have cursed the day we bought a particular stock (or let's face it, stocks) - and wished, wholeheartedly, that we could start over. Facing this dilemma, some investors may sell everything and give up for good. Others may just watch on as those losing positions become smaller and smaller pains in their portfolios.
However, it's far better to review your holdings, have an honest conversation with yourself about what worked and what didn't, and develop a plan so that you can better stick to your strategy over the year ahead.
So in this episode, Livewire's Ally Selby was joined by T. Rowe Price's Randal Jenneke and Tribeca's Jun Bei Liu for a full portfolio reset.
They will share the headwinds they believe you should keep on your radar in 2024 - particularly as the ASX 200 hits a new all-time high, the key opportunities they have identified today, as well as three stocks they would own if they could start completely from scratch.
Plus, unless you invested all your life savings in NVIDIA last year, we've likely all made some mistakes throughout 2023. So, our guests share the most painful position in their portfolio from 2023 - and what they learnt from it.
Note: This episode was filmed on 31 January 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/6-stocks-for-a-full-portfolio-reset-in-2024/
Welcome back to Buy Hold Sell for 2024! And what a start to the year it's been...
This week, the S&P/ASX 200 hit a new all-time high, buoyed by investors' expectations for rate cuts over the year ahead. This is all thanks to inflation starting to ease, and recessionary fears finally starting to fall. But in a world of goldilocks thinking en masse, is the outlook for markets really as rosy as we think?
With this in mind, we can think of no better time to analyse Livewire and Market Index readers' top-tipped stocks for 2024. Think out-of-love stocks like CSL Limited (ASX: CSL) and Pilbara Minerals (ASX: PLS), defensive stalwarts like BHP Group (ASX: BHP) and Macquarie (ASX: MQG), and growth darling WiseTech Global (ASX: WTC).
In this episode, Livewire's Ally Selby was joined by T. Rowe Price's Randal Jenneke and Tribeca's Jun Bei Liu for their analysis of these very stocks.
Plus, for a little bit of fun, we asked our guests to name their highest conviction large-cap stock pick for the year ahead - a stock that didn't make readers' list for 2024 but probably should have.
Note: This episode was filmed on 31 January 2024. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-of-your-most-tipped-stocks-for-2024-and-2-that-should-have-made-the-list
If only there was a way to identify game-changing opportunities before they are announced to the market.
Sometimes, major strategic moves and company catalysts are telegraphed to the market. The Tabcorp demerger last year, for example, was the subject of multiple investor activism campaigns, over multiple years, before finally coming to fruition.
BHP selling its oil assets is another example of a well-telegraphed event, while the recent Santos and Oil Search merger would have been discussed in the war room of every energy analyst and investment banker for years before it was ever consummated.
While the examples above were well covered by the financial press, that is not always the case. As such, oftentimes only an intimate knowledge of a company can allow one to identify and accurately forecast these game-changing developments.
In that vein, we’ve asked 12 of Australia’s most well-known fund managers for a company that could have a game-changing development over the next 12 months, elevating them to star status.
Our featured experts include (in order of appearance):
- Matthew Haupt, Wilson Asset Management
- Mary Manning, Alphinity Investment Management
- Bob Desmond, Claremont Global
- Daniel Sullivan, Janus Henderson
- Emma Fisher, Airlie Funds Management
- Chris Stott, 1851 Capital
- Joel Fleming, Yarra Capital Management
- Vihari Ross, Antipodes
- Dr Philipp Hofflin, Lazard Asset Management
- Francyne Mu, Franklin Templeton
- Marc Whittaker, IML
- Matthew Kidman, Centennial Asset Management
Note: These interviews were filmed on Tuesday, 12 December 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/12-stocks-with-game-changing-catalysts-in-2024
As part of Livewire's Outlook Series for 2024, James Marlay and Ally Selby challenged 12 of Australia’s most successful investors to each name one company that brings that “sleep at night” assurance so many of us are seeking right now.
In many cases, their responses yielded well-known stalwarts of the investment world, including names in listed property, infrastructure and materials. But a couple of smaller companies, including those in technology, were also in the mix.
Our featured fund managers include (in order of appearance):
- Matthew Kidman, Centennial Asset Management
- Matthew Haupt, Wilson Asset Management
- Emma Fisher, Airlie Funds Management
- Chris Stott, 1851 Capital
- Joel Fleming, Yarra Capital Management
- Vihari Ross, Antipodes
- Marc Whittaker, IML
- Francyne Mu, Franklin Templeton
- Bob Desmond, Claremont Global
- Daniel Sullivan, Janus Henderson
- Mary Manning, Alphinity Investment Management
- Dr Philipp Hofflin, Lazard Asset Management
Note: The information provided is not intended to be a recommendation. Please do your own research and seek advice from a professional before making any investment decisions. Past performance is not a reliable indicator of future returns.
These interviews were filmed on Tuesday, 12 December 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/14-stocks-to-help-you-sleep-at-night
No great investor ever got to where they are now by going with consensus.
If you believed the analyst consensus of 2022, 2023 was going to be another challenging year for asset allocation as economies and markets were forced to come to terms with inflation and interest rates remaining higher for longer. Many analysts continued to have a deep US-led recession and smooth Chinese reopening as their base case.
Some even dared to venture that the return on expensive equities would trend downwards while bonds would do the heavy lifting.
Well, that did not happen. And because of what actually occurred, research houses are repricing their views for 2024. The analyst consensus thinks equities will now rise 10% over the next 12 months, bond yields have peaked, a recession is now all but off the table, and the savage rate-hiking cycle may be replaced by an equally savage rate-cutting cycle.
So, will the consensus be proven wrong again? In this video, 12 of Australia's leading fund managers share with us a widely-held view they think will be proven wrong in 2024. From interest rates to weight loss drugs and the M&A landscape, there are plenty of places for investors to have The Street's view challenged.
Our featured experts include (in order of appearance):
- Matthew Haupt, Wilson Asset Management
- Matthew Kidman, Centennial Asset Management
- Vihari Ross, Antipodes
- Daniel Sullivan, Janus Henderson
- Francyne Mu, Franklin Templeton
- Emma Fisher, Airlie Funds Management
- Marc Whittaker, IML
- Dr Philipp Hofflin, Lazard Asset Management
- Joel Fleming, Yarra Capital Management
- Bob Desmond, Claremont Global
- Chris Stott, 1851 Capital
- Mary Manning, Alphinity Investment Management
Note: These interviews were filmed on Tuesday 12 December 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/12-things-investors-could-get-wrong-in-2024
There have been many opportunities to buy some of the market's favourite stocks at cheaper prices in recent years.
Many fortunes were made buying these discounted darlings at the bottom of the COVID-19 crash, and then again during the latter months of 2022 and throughout 2023 as markets looked out to the end of the Reserve Bank of Australia's interest rate hiking cycle.
Take REA Group (ASX: REA), for example. The stock's share price crashed around 37% during the COVID crisis, before soaring 134% to reach new highs by the end of 2021. Over the next six months, it would cascade 43% before rebounding 88% over the past year and a half.
And while we may not have a crystal ball to know when the next correction or crash may occur, it's worthwhile having a list of stocks in your back pocket to buy when sentiment swings to a new low.
So as part of Livewire's Outlook Series for 2024, we spoke to 12 of Australia's brightest investment minds for the one stock they would buy if it ever sold off.
Unsurprisingly, there were a few recurrent ideas in the mix, including three fund managers heralding REA Group as the best stock on the ASX, and two selecting Pro Medicus (ASX: PME) as the stock they would buy at a cheaper price.
Our featured fund managers include (in order of appearance):
- Emma Fisher, Airlie Funds Management
- Bob Desmond, Claremont Global
- Joel Fleming, Yarra Capital Management
- Francyne Mu, Franklin Templeton
- Matthew Kidman, Centennial Asset Management
- Chris Stott, 1851 Capital
- Daniel Sullivan, Janus Henderson
- Vihari Ross, Antipodes
- Dr Philipp Hofflin, Lazard Asset Management
- Marc Whittaker, IML
- Mary Manning, Alphinity Investment Management
- Matthew Haupt, Wilson Asset Management
Note: The information provided is not intended to be a recommendation. Please do your own research and seek advice from a professional before making any investment decisions. Past performance is not a reliable indicator of future returns.
You can read an edited transcript below. These interviews were filmed on Tuesday, 12 December 2023.
https://www.livewiremarkets.com/wires/9-of-the-best-stocks-to-buy-in-a-sell-off
Sometimes it’s the things ticking over in the background that can cause the greatest chaos in markets.
Take an unidentified virus circulating in a lesser-known city in China back in late 2019. Or the rise in populism that resulted in Brexit back in 2017. Just a few years earlier, the debt problems in Greece threatened the ongoing existence of the European Union.
We finished 2023 with equity markets on a high, while bond markets are pricing for a soft landing.
What underestimated nasties in today’s world could be the biggest market disruptors in 2024? After all, there’s a reason the famed Doomsday Clock still stands at 90 seconds to midnight (i.e. a catastrophic disaster to the world is imminent).
We spoke to 12 fund managers to see what they viewed as the most underappreciated risks for the year ahead. While none of them predict COVID 2.0 (at this stage...), some of their concerns might take you by surprise.
Our featured fund managers include (in order of appearance):
- Mary Manning, Alphinity Investment Management
- Marc Whittaker, IML
- Vihari Ross, Antipodes
- Chris Stott, 1851 Capital
- Joel Fleming, Yarra Capital Management
- Emma Fisher, Airlie Funds Management
- Daniel Sullivan, Janus Henderson Investors
- Dr Philipp Hofflin, Lazard Asset Management
- Francyne Mu, Franklin Templeton
- Matthew Kidman, Centennial Asset Management
- Matthew Haupt, Wilson Asset Management
- Bob Desmond, Claremont Global
Note: You can read an edited transcript below. These interviews were filmed on Tuesday, 12 December 2023.
https://www.livewiremarkets.com/wires/the-10-most-underappreciated-risks-in-2024
They say you should never run from a bear. And, strangely, nothing typifies this like investors' response to the macroeconomic hazards, rising geopolitical tensions, and the myriad of other risks that continue to face the market.
Worried that your portfolio will continue to falter as the Magnificent Seven soar even higher? Fear not, my friend. The experts tip that this should broaden out to a wider rally in more sectors and stocks.
Sick of small and microcap's continued underperformance? Worry no more, 2024 could see the reversal you have been praying for.
In this video, 12 of Australia's brightest investment minds share why they are not shying away from markets in 2024, including why one market veteran believes that the ASX could be in for double-digit returns over the next decade.
Our featured fund managers include (in order of appearance):
- Chris Stott, 1851 Capital
- Mary Manning, Alphinity Investment Management
- Joel Fleming, Yarra Capital Management
- Vihari Ross, Antipodes
- Matthew Kidman, Centennial Asset Management
- Dr Philipp Hofflin, Lazard Asset Management
- Marc Whittaker, IML
- Bob Desmond, Claremont Global
- Emma Fisher, Airlie Funds Management
- Daniel Sullivan, Janus Henderson
- Francyne Mu, Franklin Templeton
- Matthew Haupt, Wilson Asset Management
Note: The information provided is not intended to be a recommendation. Please do your own research and seek advice from a professional before making any investment decisions. Past performance is not a reliable indicator of future returns.
You can read an edited transcript below. These interviews were filmed on Tuesday, 12 December 2023.
https://www.livewiremarkets.com/wires/no-bears-here-why-these-12-fund-managers-are-running-with-the-bulls-in-2024
How are Australia's brightest investment minds investing as we kick off the new year?
Livewire has assembled an exclusive roll card of 12 of the country's finest global and local equities investors for their highest conviction stock picks for the year ahead.
This includes Alphinity's Mary Manning, whose top stock last year delivered a whopping return of 86% in 2023 (the average return of the stock picks last year was 36.73%), as well as star stockpickers Emma Fisher and Chris Stott, industry legends Dr Philipp Hofflin and Bob Desmond, and many more.
So, without further ado, sit back, relax and enjoy the most anticipated list of stocks for 2024. And as always, do your own research before making any investment decisions of your own.
Our featured fund managers include (in order of appearance):
- Mary Manning, Alphinity Investment Management
- Marc Whittaker, IML
- Emma Fisher, Airlie Funds Management
- Dr Philipp Hofflin, Lazard Asset Management
- Joel Fleming, Yarra Capital Management
- Matthew Haupt, Wilson Asset Management
- Chris Stott, 1851 Capital
- Francyne Mu, Franklin Templeton
- Bob Desmond, Claremont Global
- Daniel Sullivan, Janus Henderson
- Vihari Ross, Antipodes
- Matthew Kidman, Centennial Asset Management
Note: We would like to thank the fund managers listed above for sharing their top ideas for 2024 in the spirit of the Outlook Series. All of the fund managers featured in this series run diversified portfolios and do not invest solely in the stocks mentioned below. This list is not, nor is it intended to be, a set of recommendations. Please do your own research and seek advice from a professional before making any investment decisions of your own. Past performance is not a reliable indicator of future returns.
You can read an edited transcript below. These interviews were filmed on Tuesday, 12 December 2023.
https://www.livewiremarkets.com/wires/the-1-stock-picks-for-2024
As we round out another year of Buy Hold Sell, we're taking the chains off.
Normally, we try to keep things civil by putting a handful of stocks to our guests and asking for their analysis. Whilst guests don't always agree, at least they don't have to analyse each other's highest conviction picks.
In essence, the stocks are like Switzerland - neutral. But what fun is that?
To spice things up a bit, we’ve asked our guests to bring along three stocks they think could surprise investors in 2024 - and because two views make a market, they will be analysing each others’ stocks. Juicy.
So, sit back, relax, and enjoy this final episode of 2023, featuring First Sentier’s David Wilson and Atlas Funds’ Hugh Dive.
Note: This episode was filmed on Wednesday 13 December 2023.
If there is one lesson markets can bestow on their followers, it's humility. Not even the world's most respected economists get every macro call right, nor do the world's market animals consistently pick only winning stocks.
Getting things wrong, making mistakes, and replaying these (often) haunting moments in our heads is intrinsically human. But admitting when we get it wrong, and learning from these mistakes, is a particularly admirable skill.
At the outset of 2023, many predicted we would see a recession during the year. Equities, these market oracles warned, would tumble to fresh, painful lows. That, as we now know, has not happened. Instead, a handful of stocks have helped the S&P 500 push around 24% higher, while the ASX 200 is looking like it may end 2023 with close to double-digit gains.
It's fair to say then that investors, both professional and punter alike, would have made a few mistakes throughout the year. This anonymous writer sure has.
So, in the first of our Outlook Series videos for 2024, 12 of the country's top fund managers candidly reveal the positions and macro calls that have contributed to many a sleepless night in 2023. Plus, they also share what they have learnt from these mistakes so that you can become a better investor yourself over the year ahead.
Our featured fund managers include:
- Emma Fisher, Airlie Funds Management
- Daniel Sullivan, Janus Henderson Investors
- Chris Stott, 1851 Capital
- Mary Manning, Alphinity Investment Management
- Matthew Haupt, Wilson Asset Management
- Marc Whittaker, IML
- Francyne Mu, Franklin Templeton
- Bob Desmond, Claremont Global
- Matthew Kidman, Centennial Asset Management
- Dr Philipp Hofflin, Lazard Asset Management
- Joel Fleming, Yarra Capital Management
- Vihari Ross, Antipodes
Note: You can read an edited transcript below. These interviews were filmed on Tuesday 12 December 2023.
https://www.livewiremarkets.com/wires/ouch-12-painful-calls-from-2023/
We all know 2023 has been a challenging year for investors. And that’s not necessarily because overall returns have been low, but rather because of the extremes we have seen.
There have been significant bouts of volatility, although volatility overall is near all-time lows.
This is particularly true for the US, where markets have rallied but only seven stocks have done the heavy lifting. Interest rates have surged but nothing has broken... yet.
As for the ASX, if not for the 600-odd point rally off the late October low, this year would have been best described as a sideways grind. As it stands, the index is up nearly 7% year-to-date, things are looking decidedly more bullish, and we may just get a fabled Santa Claus rally to top things off.
That’s the kind of year it has been – one punctuated by major trends and then smaller countertrends that exist within them. To invest well, you had to know the macro and the micro, consider the extremes, and stay nimble. Most of all, you had to pay attention.
With all this in mind, in this episode, we’ve asked our guests to consider the extremes by looking at the dogs and darlings of the ASX in 2023. To do that, we’re joined by First Sentier’s David Wilson and Atlas Funds Management’s Hugh Dive.
Plus, we also ask our guests to name one darling (and one dog) for the year ahead.
Note: This episode was recorded on Wednesday, 13 December 2023.
Currently, there is a 22% short interest in fallen lithium darling Pilbara Minerals (ASX: PLS). This is up from around 3.7% a year ago - meaning that today, 22% of the shares in this hard rock lithium miner are shorted.
I know what you are thinking... Oh, anonymous writer! Why should I care? After all, Pilbara's share price has sunk around 30% over the last few months, and lithium spodumene prices have suffered a far worse fate.
Well, if there is anything we can take away from the great GameStop saga, it's that short squeezes come heavy and fast. And, even a small inkling of positive news can result in a sharp rise in share price, forcing hedge funds and traders to close out their positions to avoid painful losses.
So in this episode, Livewire's Ally Selby put it to First Sentier's David Wilson and Atlas Funds' Hugh Dive for some contrarian analysis of the ASX's most shorted stocks.
Plus, they also each name two stocks with big short interests that they are currently buying.
Note: This episode was recorded on Wednesday 13 December 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-of-the-asx-s-most-shorted-stocks-and-2-that-are-big-buys/
The silly season is finally here! So, we thought we'd take a look at some stocks investors could add to their Christmas stockings and hold throughout 2024.
After all, nothing spreads joy quite like a few winning stocks. Take Kelsian, Nexgen Energy and CSR, for example, which have seen their share prices rise 20%, 50% and 27% respectively since the beginning of the year.
So in this episode, Livewire's Ally Selby was joined by IML's Simon Conn and Firetrail's Eleanor Swanson for their analysis of these three stocks. Plus, they also each name one stock sure to bring investors some holiday spirit.
You can read an edited transcript here: https://www.livewiremarkets.com/wires/buy-hold-sell-5-crackers-for-christmas-and-beyond
Note: This episode was filmed on Wednesday 29 November 2023.
Last week, the Australian Bureau of Statistics gave the RBA (and investors) an early Christmas present. It was revealed that the monthly consumer price index (CPI) indicator rose 4.9% in the 12 months to October 2023, down from 5.6% in September.
This came in below economists' estimates, who had projected a 5.2% rise over the period. Hallelujah!
It caps off what was already a good month for equity investors, with the All Ordinaries and its miniature elf helper, the Small Ordinaries, rising 4.2% and 6.6% respectively since the beginning of November.
So can investors expect a fabled Santa Rally into the New Year? And if so, which stocks should they be stuffing into their Christmas stockings (and which should they be crossing off their lists?)
To find out, Livewire's Ally Selby was joined by IML's Simon Conn and Firetrail's Eleanor Swanson - who answered these questions and more.
Note: This episode was filmed on Wednesday 29 November 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/has-this-latest-inflation-print-greenlit-an-asx-santa-rally/
He’s always watching. He knows who has been naughty and who has been nice. He makes his watchlists. He doesn’t need to check them twice.
No, I’m not talking about Santa – he’s far too forgiving. I’m talking about Mr Market.
With the end of the year fast approaching (my goodness, it’s already December) it’s time to look back at those stocks that have spent the bulk of the year in the naughty corner.
These stocks have been punished by Mr Market all year and will likely be receiving a lump of coal for their troubles.
Nothing cleanses like January 1, however, and the question begs: Will these stocks grow wings and rise like a phoenix from the ashes, or are their problems terminal, consigning them to another annus horribilis?
To answer those questions, Livewire’s Ally Selby is joined by Simon Conn from IML and Eleanor Swanson from Firetrail, who analyse three of the market's poorest-performing stocks from 2023.
Plus, they also name one stock on their naughty lists for the year ahead, and what would need to happen for our experts to change their thesis and for the stock to become a buy.
Note: This episode was recorded on Wednesday 29 November 2023. You can read the edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-for-your-naughty-list-in-2024
While there are many measures of valuation, a price-to-earnings ratio (or P/E ratio) is probably the most well-known.
It's a real bang for your buck ratio, comparing a company's share price to its earnings per share - basically, helping you to assess its value compared to similar companies or a benchmark.
A low P/E ratio usually indicates a company is cheap, while a high P/E ratio indicates it is expensive.
As effective as P/E ratios are, they don't tell the whole story and sometimes companies trading on a low P/E can have serious flaws. Some discounted stocks are cheap for a reason, others present attractive buying opportunities at bargain prices.
One of the key ways to separate the wheat from the chaff is to look at management. Companies with stellar management teams - those who have the drive and business acumen to take a company to the next level - are more likely to be the darlings you are looking for.
So in this episode, Livewire's Ally Selby was joined by Tyndall Asset Management's Jason Kim and Forager Funds Management's Steve Johnson for their analysis of three low P/E stocks with top-notch management teams.
Plus, they also each named one stock that they would be buying right now.
Note: This episode was filmed on Wednesday 15 November 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-low-pe-stocks-with-top-management-teams
There are many famous fathers.
Hippocrates is the father of modern medicine, James Brown is the father of Soul, and Darth Vader is the father of Luke Skywalker.
But there is only one father of value investing, and that's none other than Benjamin Graham.
Graham, along with the oft-overlooked David Dodd, wrote the classic book on investing: The Intelligent Investor. It’s a staple for anyone who is serious about investing in general, and value investing in particular.
The central idea of the book is to approach investing with a long-term focus and to view stocks as ownership in a business, rather than mere pieces of paper to be traded.
The text also thoroughly covers the importance of in-depth analysis, risk management, and one of the most enduring principles – a margin of safety.
A margin of safety refers to buying a stock at a price below its intrinsic value, so as to provide protection against market gyrations.
So, how would the principles laid out The Intelligent Investor stack up today on the ASX?
To answer that question, Livewire's Ally Selby was joined by Forager Funds Management’s Steve Johnson and Tyndall Asset Management’s Jason Kim.
Note: This episode was filmed on Wednesday 15 November 2023. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/how-benjamin-graham-would-invest-on-the-asx/
Momentum investors hitch their wagons to companies with good investor sentiment, often impressive earnings, improving prospects - and most importantly, a rising share price.
It's a tried and tested strategy, made famous by American fund manager Richard Driehaus, whose firm, Driehaus Capital Management, reportedly delivered returns of 30% per annum after it was set up in 1982.
Often, companies with positive momentum attract other investors, helping push the share price higher. Take Boss Energy (ASX: BOE), for instance, which has seen its share price soar around 100% this year on positive investor sentiment around uranium.
Negative momentum, however, is a different story. Stocks with poor investor sentiment continue to slide down a slippery slope, often burning investors - like you and I - with it. And while yes, some stocks of this nature will be trading on the cheap for a reason, others could be oversold unfairly to the point they are attractive buys.
So in this episode, Livewire's Ally Selby was joined by Forager Funds Management's Steve Johnson and Tyndall Asset Management's Jason Kim for their analysis of three stocks that have recently rebounded, re-rated or have continued to skyrocket higher.
Plus, they also name two beaten-down darlings that they believe are now big buys.
Note: This episode was filmed on Wednesday 15 November 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-stocks-on-the-rise-and-2-beaten-down-darlings
We all love a bargain. That's why Black Friday, Cyber Monday and Boxing Day sales take the world by storm, or why we justify buying two items for the price of one at the grocery store when we weren't planning on purchasing that item in the first place.
Searching for stocks near or at 52-week lows is similarly a bargain hunter's paradise.
These stocks usually have negative momentum, which means they have more sellers than buyers and investor sentiment is typically poor. And while some stocks may be cheap for good reason – just like that heavily discounted two-for-one item at the grocery store – others may be undervalued and oversold.
So in this episode of Buy Hold Sell, Martin Currie’s Reece Birtles and SG Hiscock's Hamish Tadgell joined Livewire's Chris Conway to analyse three stocks that are hitting or at all-time lows.
Plus, they also analyse four stocks from the heavily sold-off REIT and infrastructure sectors.
Happy bargain hunting, my friends.
Note: This episode was filmed on Wednesday 1 November 2023.
Like Elvis, 'momentum' and 'growth' have left the building. It's possible they won't be seen for a while, either.
The void is set to be filled by 'quality' and 'value' - two factors which were second and third string for the decade money was free. How times have changed.
There is nothing to be feared, however. The great thing about a market selloff is that it creates value opportunities in stocks that were previously too expensive.
So, we thought we'd dust off the old playbook and remind everyone of how to play the game of value.
What better place to do that than in Melbourne - ranked the world's most liveable city for most of the aforementioned decade. And who better to do it with than Martin Currie’s Reece Birtles and SG Hiscock and Company’s Hamish Tadgell.
Our guests share what value means to them, the common mistakes value investors make, how much value they're seeing on the ASX right now, and which sectors they like and don't like.
It wouldn’t be Buy Hold Sell without some stock picks, so we’ve asked the gents to bring along an example of a high-conviction stock pick that they believe is underappreciated by the market.
Note: This episode was filmed on Wednesday 1 November 2023.
Investing on the ASX has been pretty volatile since the beginning of the year. Some stocks have soared to new highs, while others have plummeted to reach new lows.
All in all, the market really hasn't gone anywhere - which doesn't bode well for the future, considering that we have had 400 bps of interest rate rises over the past 18 months - and it's looking very likely that will become 425 bps in a few day's time.
So where can investors find value on the ASX?
To find out, Livewire's Chris Conway was joined by Martin Currie's Reece Birtles and SG Hiscock & Company’s Hamish Tadgell for their analysis of five stocks both of them believe investors can either buy or hold right now.
That's right, none of the stocks in this episode are sells...
... But please - FOR THE LOVE OF GOD - do your own research before buying any of the names on this list. Ok? Appreciate you.
Note: This episode was filmed on Wednesday, 1 November 2023.
It's not easy to break the internet, figuratively speaking, of course.
There was the "Ice Bucket Challenge" of 2014, which took the world by storm and raised around US$220 million for ALS. Then, of course, there was Kim Kardashian's risque photoshoot with Paper Magazine, and more recently, Will Smith slapping Chris Rock at the Academy Awards, Taylor Swift's Eras concert tour and dating life, and the Barbenheimer cultural phenomenon.
Virality in today's fast-paced world is often fleeting. And what has gripped the globe today is unlikely to remain relevant in the future.
But does the same go for stocks?
In this episode, Livewire's Ally Selby was joined by Perpetual Asset Management's Anthony Aboud and WaveStone Capital's Catherine Allfrey for their analysis of three of the hottest stocks on the ASX right now.
Plus, they also each name one stock that is making headlines for all the right reasons (unlike a few of the celebrity names on the list above).
Note: This episode was filmed on Tuesday 17 October 2023.
To become a successful investor, you must be humble and willing to learn from your mistakes.
As Micheal Jordan famously said:
"I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game-winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed."
So in this episode, Livewire's Ally Selby was joined by two of the Australian funds management industry's all-star investors, Catherine Allfrey from WaveStone Capital and Anthony Aboud from Perpetual Asset Management.
They cut through the market noise, highlight some management teams that they particularly like, and share which investment decision really put them on the map.
They also share some of the biggest mistakes they've made in their 25+ years in the market and, more importantly, the key lessons they learned over that time.
Note: This episode was filmed on Tuesday 17 October 2023. You can read an edited transcript:
https://www.livewiremarkets.com/wires/lessons-from-the-goats-of-australian-funds-management
There are some companies that seem to have been around forever, delivering year in and year out.
Just like a trusty car that has done 500K clicks but still runs like new, a favourite pair of blue jeans that can't be thrown away, or a reliable childhood friend, these stocks have been woven into the fabric of Australian investing - and most investors, both punter and professional alike, are likely to have run the ruler over these companies' balance sheets at various points in time.
So, which stocks are quintessential ASX names and, more importantly, are they worth investing in right now?
To help answer those questions, Livewire's Ally Selby was joined by Perpetual Asset Management’s Anthony Aboud and WaveStone Capital’s Catherine Allfrey for their analysis of three ASX stalwart stocks (all with 27 years or more listed history).
Plus, they also share one ASX-listed company they have covered extensively over their investing careers that is no longer in their good books.
Note: This episode was filmed on Tuesday 17 October 2023.
At the recent Livewire Live event, Mary Manning from Alphinity outlined the bull case for Ferrari and summed it up nicely by saying that regardless of the economic conditions, people are going to want to buy Ferraris - such is the power of the Ferrari brand.
There are some businesses that, due to a combination of the segment that they operate in, the power and universal appeal of their brand, and the demand for their products, are much better at weathering the economic cycle.
On this edition of Buy Hold Sell, host David Thornton is joined by Nikki Thomas from Magellan and Adam Chandler from Claremont Global, as they run the ruler over a handful of all-weather businesses to see how they stack up.
Make sure to watch the episode to find out which tech titan they both rate as a Buy, as well as the one stock they each highlight that no longer makes the grade.
Note: This episode was filmed on September 20, 2023.
At last count, there are more than 55,000 publicly-listed companies across the globe.
That is a wealth of opportunity in anyone's language and it begs the question, how on earth does anyone decide what and where to invest in?
This is where the value of a fund manager really comes into play. Not only do fund managers each have an investment style that they pursue - whether it be growth, value, income, etc. - they also have a robust process for whittling down the plethora of available opportunities, to a portfolio of all-star stocks.
It's no easy feat, either - as we all know.
Fund managers need to have enough flexibility in their investment process to cater to changing market conditions and themes, but also be disciplined in their application of the process, to ensure they don't stray from their mandate, nor overreact when times are tough.
To shed some light on this balancing act and to share some insights into their processes, host David Thornton was joined by Nikki Thomas, from Magellan and Adam Chandler from Claremont Global.
Plus, they also outline the thesis on a high-conviction holding in their portfolios right now.
Note: This episode was filmed on September 20, 2023.
When the investing landscape turns to custard, invariably one term gets bandied around - "quality".
Quality is the investment style that is designed to see you through all the peaks and troughs of the economic cycle.
Quality targets companies with consistent track records, strong management, dependable earnings, and healthy balance sheets. The style has been around for decades and its popularity is backed by evidence.
With the global economic and investing landscape becoming increasingly challenged, particularly as economies grapple with soft landings versus full-blown recession, quality is rising once again.
On this edition of Buy Hold Sell, host David Thornton is joined by Nikki Thomas from Magellan and Adam Chandler from Claremont Global to hunt for the highest quality stocks in the world.
Note: This episode was filmed on September 20, 2023.
Millions of dollars of shares are sold and bought each month by company directors. Often, investors watch these transactions as a signal that leadership teams know something we don't. So should you buy or sell if leadership teams are too?
Firstly, there are a variety of reasons (or maybe excuses) why a director may sell stock in their company. Take tax reasons, for example, or divorce settlements (half of all first marriages end in divorce, after all), or just because they need the cash - to purchase a new home or holiday house, for instance.
Of course, it could also mean these directors think their company's shares have run too hard - or that there are troubles on the horizon that the rest of the market doesn't know about, yet.
Interestingly, FirstLinks found that companies tended to perform worse if there had been director selling over a six-month period than companies where no director sales had occurred.
That said, there's only one reason a director would buy shares, and that's because they think their stock's share price is about to go up.
So in this episode, Centennial Asset Management's Matthew Kidman was joined by Auscap Asset Management's Will Mumford and IML's Michael O'Neill for their analysis of three stocks where director selling has occurred over the past month.
Plus, to even the score, they also name one stock they have been buying on the back of reporting season.
Note: This episode was filmed on Wednesday 6 September 2023. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-3-stocks-directors-have-been-selling-and-2-big-buys/
Reporting season is now done and dusted. Of the fund managers this anonymous writer has spoken to, most seem to have had a surprisingly positive month. For others, particularly the holders of the month's portfolio bombs, it probably wasn't so soothing.
So in this episode, Centennial Asset Management's Matthew Kidman was joined by Auscap Asset Management's Will Mumford and IML's Michael O'Neill.
They explain why some companies were sold off despite beating expectations, name four of the best results from the month and two shockers. Plus, they also select one stock they believe investors can comfortably hold until August next year.
Note: This episode was filmed on Wednesday 6 September 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/6-stocks-to-back-in-fy24/
It's been a volatile month for markets. Despite the S&P/ASX 300 only sinking around 2.3% in August, the dispersion of returns within some of the market's favourite, and now, its most disappointing stocks has never been so clear.
According to FNArena, the worst-performing stock during the month was Mesoblast (ASX: MSB), followed soon after by Abacus Property Group (ASX: ABP), Chalice Mining (ASX: CHN), Iress (ASX: IRE) and Core Lithium (ASX: CXO) - all of which sunk more than 38% over the last month.
But should investors look through these disappointing results and pick up these beaten-down names at a discount?
That's exactly the question this episode will attempt to answer. Centennial Asset Management's Matthew Kidman was joined by IML's Michael O'Neill and Auscap Asset Management's Will Mumford for their analysis of three of August's most disappointing results - including ResMed (ASX: RMD), Telstra (ASX: TLS) and Iress (ASX: IRE). Interestingly, only one of these stocks is now a resounding sell.
Plus, they also each name one stock they believe has flown under the market's radar so far.
Note: This episode was filmed on Wednesday 6 September 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-shocking-results-and-2-stocks-flying-under-the-radar/
With interest rates (currently) on pause, investors are once again looking for growth opportunities that can bolster their wallets and compound their cash faster than if they were to leave it in the bank.
One way investors can gauge the probability of picking a winning stock is the growth rate in earnings per share (or EPS).
For those not in the know, EPS is calculated by dividing a company's net profits by the number of shares a company has on issue. The growth in this number demonstrates how quickly a company can boost its profits per share. Typically, a growth rate of 20-25% or more is the sweet spot.
So in this episode, Livewire's Ally Selby was joined by Elvest's Adrian Ezquerro and LSN Capital Partners' Nick Sladen for their analysis of three stocks with high EPS compound growth rates over the next two years.
Plus, they also name two stocks that could be in the dog house from here.
Note: This episode was filmed on Wednesday 23 August 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-of-the-asx-s-fastest-growing-stocks-and-2-in-the-dog-house/
In the midst of reporting season, it's often easy to forget about the long-term potential of some of the market's great compounders.
Last week, we saw stocks like Megaport (ASX: MP1) and Altium (ASX: ALU) soar 20% in one day on the back of their results, while stocks that disappointed, like Ramsay Health Care (ASX: RHC) and Iluka Resources (ASX: ILU), were punished by the market.
But by looking through quarterlies, half yearlies and full-year results, investors can see the bigger picture.
Companies like REA Group (ASX: REA) have returned 345% over the past 10 years, while Fortescue Metals Group (ASX: FMG) has lifted 378%, Xero (ASX: XRO) has soared 706%, and Pro Medicus (ASX: PME) has skyrocketed 15,054%. Over that same time period, the ASX All Ordinaries has only lifted 43% (and the benchmark tracking Australia's biggest companies, the ASX 200, has risen 39%).
So in this episode, Livewire's Ally Selby was joined by LSN Capital Partners' Nick Sladen and Elvest's Adrian Ezquerro for their tips for finding the best growth opportunities over the next decade.
Plus, they also name seven companies for above-market returns over the years ahead.
Note: This episode was filmed on Wednesday 23 August 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/7-growth-stocks-for-the-next-10-years
In this high-risk, high-inflation, high interest rate world, profitability has never been so important. Companies know this too, meaning they may go to incredible lengths to present the most positive picture possible of financial health or risk being beaten down by short sellers otherwise.
One measure of financial health is return on equity, or ROE for short. This is calculated by dividing a company's net income (revenues minus expenses and taxes) by shareholder equity (a company's total assets minus its total liabilities), helping investors gauge how efficiently a company generates its profits.
Generally, the higher the ROE, the better a company is at converting investor capital into profits. But it also depends on the sector average (typically, the sector average or above is considered a "good" ROE).
So in this episode, Livewire's Ally Selby took the Buy Hold Sell virginities of LSN Capital's Nick Sladen and Elvest's Adrian Ezquerro for their analysis of three stocks with impressive ROE.
Plus, they also named their highest conviction stock pick for the year ahead.
Note: This episode was filmed on Wednesday 23 August 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-stocks-with-high-roes-and-2-fundie-favourites/
Some of the biggest stocks on the ASX started out as minnows.
Take BHP Group (ASX: BHP) and CSL (ASX: CSL) for example, today two of the biggest stocks in the country. Once upon a time, these stocks were known as Broken Hill Proprietary Company and Commonwealth Serum Laboratories and very few people knew of them. It took years - decades even - of toiling away in relative anonymity before these companies cracked the big time.
Imagine if you knew then what you know now.
I'm sure I'm not alone in my daydreams of borrowing Doc Brown's time machine and whizzing back to invest $1000 in the shares of BHP and CSL when they first listed - for those who are curious that was 10 August 1885 for BHP and 30 May 1994 for CSL (although, CSL was founded in 1916).
Alas, we cannot. But the next best thing we can do is try to identify current small caps that could ultimately grow into tomorrow's large caps, or at least, grow over the year ahead.
So in this episode, Bell Direct's Grady Wulff was joined by Tim Johnston from Tyndall Asset Management and Tobias Yao from Wilson Asset Management for their analysis of three stocks that could outperform over the next 12 months. Plus, they each name a stock pick of their own.
Note: This episode was recorded Wednesday 9 August 2023.
While there are winds in the sails of the healthcare industry, such as an ageing and wealthy population willing to pay for healthcare services, building a great healthcare business takes a long time.
Drugs and devices require huge amounts of R&D, often with astronomical price tags attached, and the regulatory process is arduous – as it should be when people’s lives are at stake.
Add to these high barriers to entry the dominance of the incumbents, and it makes you wonder why anyone would try to build a healthcare company in the first place.
Fortunately, things change. Existing technologies evolve, new technologies are born, and opportunities are created for emerging companies to enter the fray.
In that vein, this episode of Buy Hold Sell is focused on the hidden gems hidden within the smaller end of the healthcare market.
Bell Direct's Grady Wulff is joined by Tim Johnston from Tyndall Asset Management and Tobias Yao from Wilson Asset Management for their tips on analysing stocks within the sector, their thoughts on traditional plays versus biotechs, as well as their top picks for today's market.
Note: This episode was recorded Wednesday 9 August 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/on-the-hunt-for-tomorrow-s-csl/
What do we all want? To live long, healthy, and prosperous lives.
Increasingly we’re able to fulfill the first two elements of that triumvirate given the advances in modern medicine and healthcare services.
What’s more, is that we have an ageing population in many parts of the world that not only have the desire for longer and healthier lives, but also the capacity to pay for them.
And that is all good news for the healthcare sector, which enjoys the benefits of said tailwinds from increases in spending on healthcare as a share of GDP.
But not every company can be a healthcare giant like CSL, Cochlear, or ResMed. At least not yet.
In this episode of Buy Hold Sell, we’re running the ruler over healthcare names that, whilst not as big as those mentioned above, sure are mighty.
To do that, we’re joined by Tobias Yao from Wilson Asset Management and Tim Johnston from Tyndall Asset Management.
Note: This episode was recorded Wednesday 9 August 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-emerging-healthcare-heroes
It’s an age-old debate - technical or fundamental analysis to source stock ideas. Or put another way, do you prefer charts or balance sheets?
The chartists out there will tell you that everything is captured in the price, so that and volume are all you need to pay attention to. On the other side of the debate, those who employ them will tell you that fundamentals drive prices and help you to determine intrinsic value.
Ultimately, both methods are used to research and forecast future trends in stock prices and, increasingly, investors are using both to determine whether a stock is up to muster.
In this latest edition of Buy Hold Sell, we're putting a handful of cap stocks to fund managers that are top right on the chart and have been rallying hard.
Should they be there and, more importantly, can they keep going or are they overcooked?
To answer that question, we’re joined by Ben Rundle from Hayborough Investment Partners and Will Granger, from Airlie Funds Management.
Note: This episode was recorded Wednesday 26 July 2023.
There is no perfect recipe for generating profits.
Value, growth, quality, momentum, long, short, large-cap, mid-cap, small-cap, conservative, moderate, aggressive - the list of investment styles goes on. And the factors fund managers use to identify stocks that meet their investment style can be equally elaborate.
So in this episode of Buy Hold Sell, Livewire's Chris Conway is joined by two small-cap managers - Ben Rundle from Hayborough Investment Partners and Will Granger from Airlie Funds Management.
They discuss their favourite factors when assessing small-cap opportunities, as well as those that are misunderstood or overused by investors.
Those factors are then put to work, with our guests each naming a stock that ticks all their boxes.
Note: This episode was recorded Wednesday 26 July 2023.
For nearly 30 years, Martin Roth has published the book ‘Top Stocks’, highlighting 100 ASX companies that are considered to be financially sound. In conducting the analysis, the share price of a stock is ignored and the focus is on companies with strong balance sheets, profitability, low debt levels, and sustainable dividends.
More specifically, a "Top Stock" must be:
- Publicly listed since 2017
- A constituent of the All Ordinaries Index (i.e. Top 500 company by market capitalisation)
- Boast a Return on Equity (ROE) ratio of at least 10% in the most recent financial year
- Have a Debt-to-Equity (D/E) ratio of less than 70%
We’ve used similar criteria, with help from the Market Index website, to identify fundamentally sound small caps.
So, which stocks make the cut? And are they all worth buying right now?
To answer those questions, Ben Rundle from Hayborough Investment Partners and Will Granger, from Airlie Funds Management joined Livewire's Chris Conway.
And just because we know you love a stock pick, they also highlight their top stock with fantastic fundamentals.
Note: This episode was recorded Wednesday 26 July 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-with-fantastic-fundamentals
The most anticipated recession in history still hasn't turned up. All those calls about a US-led recession starting in 2023 have been pushed back. In some cases, those calls are being pushed as far back as the second half of 2024. Others, like Goldman Sachs, have just cut the odds of a US recession occurring altogether - it's now down to a 20% chance in its eyes.
Here in Australia, disinflation continues to occur with the headline print recently coming in at +5.6% year-on-year. Sure, it's not the RBA's cherished 2-3% target but it's a lot nearer than the 8% we were experiencing at the end of last year. The unemployment rate is still below 4% and the economy is still expanding.
Corporate earnings also continue to be resilient and earnings guidance statements so far this confession season continue to provide an impetus for this market to grind slowly but surely higher in spite of all the headwinds.
All of this begs an important question - what if the optimists were right all along? And if they are, what stocks do you want to own in that dream scenario?
In this edition of Buy Hold Sell, we're talking about which ASX-listed stocks you would want to own (or not own) in a Goldilocks scenario. Joining moderator Hans Lee are Andrew McKie from Elston Asset Management and Rob Crookston from WILSONS.
Note: This episode was taped Wednesday 12 June 2023.
There are plenty of famous pairs in life. John Lennon and Paul McCartney, Tom and Jerry, Mario and Luigi just to name a few. When it comes to investing and specifically investing in stocks, large cap stocks are generally paired with the term "quality".
That's because these companies tend to have sturdier balance sheets, larger and more reliable customer bases, and dominant market positions.
And as volatility and uncertainty have spiked across markets, investors have been running into these quality names in droves. But what does quality mean in this environment - and which large-caps are the most worthy of your cash right now?
Livewire's Buy Hold Sell is here to help separate the good from the bad and the great from the good in the large end of the market. Moderator Hans Lee is joined by Andrew McKie from Elston Asset Management and Rob Crookston from WILSONS to discuss how they find "quality" companies on the ASX.
And just to show our fund managers can put their money where their mouth is, we asked them to pick their favoured large-cap among five pairs of options.
Note: This episode was taped on Wednesday 12 July 2023.
It's been a remarkably volatile time in financial markets over the last 18 months in particular. Investors have been riding a wave that started with fresh highs for the index before the ASX 200 fell 13% in six months. Along the way, there have been astounding and outstanding share price moves.
This volatility, the ongoing fear of a global recession, and concerns over rising interest rates have created a notable shift in investor strategy. People want quality companies with recurring revenues, sturdy product offerings, and a strong track record for growth.
But too many people rushing into the same kind of trade can lead to disappointment. How quickly can we forget the Buy Now Pay Later craze of 2021, or the China reopening trade of earlier this year, or the Wall Street Bets/ASX Bets craze which saw investors pile into junk companies en masse?
We're combining those two themes - rock-solid balance sheets and overcrowded trades - in today's edition of Buy Hold Sell. Livewire's Hans Lee is your moderator. He is joined by Andrew McKie from Elston Asset Management and Rob Crookston from WILSONS.
Together, they will analyse three stocks that are widely perceived to have those rock-solid qualities and assess whether they have become overcrowded. As a bonus, the fund managers bring along one quality company of their own.
Note: This episode was taped on Wednesday 12 July 2023.
Much has been made of the pending mortgage cliff, and fair enough. The RBA cash rate has gone from the pandemic low of 0.1% to 4.10% in a little over a year, and the central bank estimates half of all fixed rate loans that enjoyed that 4% buffer will expire this year.
Whilst that sounds ominous, there are some things to remember. Only about one-third of Aussie adults have a mortgage (the rest being owners or renters) and at the peak in 2021, only about 35% of mortgages were fixed rate.
Whilst half of the 35% will expire and face a mortgage cliff this year, many Aussies who own outright or rent, won’t be affected at all.
So, are the banks really in that bad a position? And what about companies that actually benefit from higher interest rates, like the insurers?
As always, tarring any sector with the same brush is pointless and thankfully we have Andrew Martin from Alphinity Investment Management and Michael Maughan from Tyndall Asset Management to help sort the financial wheat from the chaff.
Note: This episode was filmed on Wednesday 28 June 2023.
In a high-inflation environment, energy stocks typically perform well due to the ongoing need for energy.
It’s no surprise, therefore, that the energy sector began a strong rally in 2021 when inflation took off.
That rally extended into early 2022, when the Ukraine war was added to the equation and energy security concerns, and prices, kicked even higher.
But as inflation and war morphed into higher interest rates and concerns about global growth, oil and coal prices have come off sharply in the past 12 months.
And all of this is to say nothing of the large-scale energy transition that is taking place and tipping the sector on its head.
So, what is one to make of all of this and, more importantly, where are the risks and opportunities?
To answer those questions, James Gerrish from Market Matters and Joe Wright from Airlie Funds Management joined Livewire’s energy sector special of Buy Hold Sell.
Note: This episode was filmed on Wednesday 28 June 2023.
It's safe to say that mega-cap tech companies have carried global markets this year, with the NASDAQ 100 returning almost 40% this year. And most of that performance can be attributed to seven behemoths.
This exuberance around tech has fed across into the Australian market. Year to date, the S&P/ASX All Technology Index has returned over 21%.
Will this run continue or are investors about to hit the brake pedal?
What of the unprofitable hype companies that have characterised the sector through the past decade of free money and growth at any cost?
In this episode, Sam Koch from Wilson Asset Management and Shane Fitzgerald from Monash Investors pick apart those questions, before providing their thoughts on three local technology companies. As you'll see, it's a stock pickers' market and opinions are divided.
Finally, they each lay out the investment case for their highest conviction pick from the sector.
Note: This episode was recorded on Wednesday 28 June 2023.
The recent Income Series survey, in which more than 1000 Livewire readers participated, showed that investor hunger for income-generating equities remains remarkably high.
Domestic equities are by far and away the most popular asset class for income investing, with 93% of respondents choosing this option.
This is despite bonds having bounced back from a tough 18 months and term deposits fetching investors north of 5% on a good day.
It seems investors are looking for higher returns, particularly given inflation is running hot and real yields (what you actually get after inflation) are what ultimately matter.
The survey also highlighted that 50% of respondents are looking to increase their exposure to domestic equities in the next 12 months in order to generate income.
So, what better time to focus on income-generating equities in an episode of Buy Hold Sell than right now?
In this episode, Ord Minnett’s David Lane and Centaur Financial Services’ Hugh Robertson run the ruler over three classic income stocks, and each highlights their pick for the next 12 months.
Note: This episode was filmed on Wednesday 14 June 2023.
Access to income-generating investment opportunities has grown exponentially in the past two decades. Long gone are the days when investors could only invest in high-yield dividend stocks to generate suitable returns. That was a bit like buying a chicken for its eggs – and hoping that the chicken didn’t cark it in the meantime. Today there are myriad products to complement stocks, including LICs and LITs, ETFs, hybrids, and managed funds – the latter of which span the global investment universe. But with so much choice, how are investors to decide which opportunities might be useful for them? Fortunately, we’ve engaged two financial advisers – David Lane from Ord Minnett and Hugh Robertson from Centaur Financial Services – to share which products they like and why, as part of Livewire’s 2023 Income Series. For a bit of extra spice, they also share a product that they no longer believe has a place in income investors' portfolios. Note: This episode was filmed on Wednesday 14 June 2023.
Income investing has undergone a renaissance in recent years.
A poor cousin to growth investing for the best part of a decade, rising interest rates and higher yields, coupled with a desire to protect capital amid heightened inflation and uncertainty, has seen investors come flocking back to the investment style.
While most of the conversation has been centred around the returns investors can get - 5% in term deposits, for example - not a lot of attention has been paid to the different cohorts of investors and their specific income wants and needs.
After all, the needs of an investor in the early stages of their journey will be different from the needs of an investor nearing retirement, as will the products that they use.
So, in this special episode of Buy Hold Sell, we reached out to two financial advisors - David Lane from Ord Minnett and Hugh Robertson from Centaur Financial Services - for their tips (and top products) for generating attractive passive income for all ages as part of Livewire's 2023 Income Series.
Note: This episode was filmed on Wednesday 14 June 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/the-2023-guide-to-income-for-investors-of-all-ages/
With AI-related stocks soaring and central bank hikes continuing to take their toll on anything else in sight, it's easy to forget there are other companies making waves on the global stage.
Take Teck Resources (NYSE: TECK), for instance, a coal, copper and zinc miner out of Canada which recently received a takeover offer from Swiss multinational giant Glencore (LON: GLEN). Or Sands China (HKG: 1928), a casino operator expected to experience a major upswing as card players return to the table. Even Heineken (AMS: HEIO), which now counts Microsoft (NASDAQ: MSFT) co-founder Bill Gates as a shareholder after pouring $1.32 billion into the company, boasts a return on equity of 14%.
So in this episode, Livewire's Ally Selby was joined by Antipodes' Jacob Mitchell and PM Capital's Paul Moore for their analysis of these three stocks.
Plus, our guests also name a top holding they believe investors should have on their radars over the year ahead.
Note: This episode was recorded on Wednesday 31 May 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-for-your-radar-right-now
After a decade of Growth taking the market by storm, Value came back in a real way in 2022.
Both locally and abroad, cyclical and economically sensitive stocks such as financials, materials, infrastructure and energy companies all saw their share prices soar. It was all thanks to rising interest rates, skyrocketing inflation, Russia's war in Ukraine, and a supposed "return to fundamentals".
But since the beginning of 2023, things have changed once again. Growth darlings like Nvidia (NASDAQ: NVDA) are up 177% since the beginning of the year.
So is this a sign that it's Growth's time to shine once again in 2023? And what is the biggest risk investors should have on their radars over the year ahead?
To find out, Livewire's Ally Selby was joined by Antipodes' Jacob Mitchell and PM Capital's Paul Moore for their secret to finding Value in today's volatile market and the headwinds facing earnings over the next 12 months.
Plus, for a bit of fun, we asked them to select one stock they would bet their own house on right now. And their answers are sure to surprise you.
Note: This episode was filmed on Wednesday, May 31 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/2-stocks-fundies-would-bet-the-house-on-and-the-biggest-risks-to-value-investing-over-the-next-12-months/
There's this idea in dating that you shouldn't pursue beautiful people. Why? Well, thanks to their good looks, they haven't had to struggle their entire lives to be as outgoing, funny, and desirable as us mere mortals. And so, they will likely lack a certain je ne sais quoi...
While I am not sure the proposition is entirely true, there is something about being both boring and beautiful - particularly when it comes to investing.
Oftentimes, we are distracted by the next sparkly new trend, losing the patience and discipline needed to stick to our strategies and generate long-term returns.
When it comes down to it, investing isn't meant to be thrilling. It's not meant to get your heart racing. The likelihood of getting rich quick is zero to none. In fact, investing in "boring" stocks over the long term is how Buffett's Berkshire Hathaway became the US$702.6 billion giant it is today.
So in this episode, Livewire's Ally Selby was joined by PM Capital's Paul Moore and Antipodes' Jacob Mitchell for their analysis of three "boring but beautifully priced stocks."
And just because I know you love a stock pick, they also name a boring stock they believe can withstand the cycle and come out stronger on the other side too.
Note: This episode was filmed on Wednesday, May 31 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-boring-stocks-trading-at-beautiful-prices
There's something to be said of reliable compounders. While they may not double overnight as a growth darling can, these stocks definitely make it easier to sleep at night.
Why? Well, reliable long-term compounders can continue to provide solid returns over the years to come without the volatility or downside risk that comes with more speculative stocks.
And while the secret to long-term success may be hitching our bandwagon to said compounding stocks, the price you pay for their shares is equally, if not more important.
So in this episode, Livewire's Ally Selby was joined by Perpetual Asset Management's Sean Roger and Sage Capital's Sean Fenton for their analysis of three steadily growing stocks.
And they also name their own bottom drawer stock that they will be backing for the foreseeable future too.
Note: This episode was recorded on Wednesday 17 May 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-long-term-compounders-for-the-bottom-drawer
Following the GFC, the world embarked upon a monetary policy experiment the likes of which had never been seen before.
Having read the history books and being aware of the economic and financial malaise that lingered for decades post the Great Depression, and like a bout of long-COVID, central bankers were desperate to ensure it didn’t happen again.
So they pumped the system full of liquidity. Quantitative easing, loose balance sheets, low interest rates, you name it, the list went on. Then, when the pandemic hit, they pumped more liquidity again, and this time, governments got involved as well.
Well, the experiment is now well and truly over. Inflation has soared, recessions are imminent, and some of the distortions of all that liquidity are being reflected in the stock market. The tide is going out, and we’re going to find out just who has been swimming naked.
In that vein, Livewire’s Ally Selby sat down with the two Seans – Sean Fenton and Sean Roger – to discuss the long and short of it all, literally.
Fenton and Roger talk about hunting for shorts in the current environment, whether rate hikes are behind us and some stocks they like, both longs and shorts.
Note: This episode was filmed on Wednesday 17 May 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/2-stocks-facing-headwinds-and-the-themes-fundies-are-shorting-in-2023/
Since the beginning of the year, the total level of shorting on the ASX has risen 16.2%. According to Shortman.com, there is now $25.5 billion being borrowed today to bet against the country's 100 biggest shorts.
Short sellers borrow shares in a company at the current market price in the hope they can buy back those shares (close a position) once the company's share price has fallen. Many do this in times when sentiment is falling or a business faces short-term headwinds, rather than long-term structural changes - as short-term fluctuations in share price can be incredibly painful - think GameStop.
So are there any long-term opportunities the short sellers are missing?
To find out, Livewire's Ally Selby was joined by Sage Capital's Sean Fenton and Perpetual Asset Management's Sean Roger for their analysis of three stocks with high levels of short interest.
And just because I know you all love a stock pick, our guests also name a high-conviction position they are backing for the year ahead.
Note: This episode was recorded on Wednesday 17 May 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-of-the-asx-s-most-shorted-stocks-and-2-long-term-buys/
If there is one thing Livewire readers love just as much as lithium stocks, long-term compounders, and lithium stocks that are long-term compounders, it's dividend darlings.
After all, Plato Investment Management has found that if investors had put $100,000 in the ASX in 1980, they would now be earning around $85,000 a year in income. In comparison, if you had left that money in the bank, they would now be earning next to nothing (as we all know too well).
But what if some of the ASX's highest yielders are dropping their dividends? Particularly, those that had a stellar year in 2022?
In this episode, Livewire's James Marlay was joined by Plato's Peter Gardner and Antares Equities' Andrew Hamilton for their analysis of three dividend darlings that could be heading lower from here.
Plus, we also asked them to each name a stock with sustainable, growing dividends in the years ahead.
Note: This episode was filmed on Wednesday 3 May 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-asx-stocks-dropping-their-dividends-and-2-on-the-way-up
According to S&P Dow Jones Indices research, the S&P/ASX 300 has a trailing 12-month dividend yield of 4.5%. This far surpasses the dividend yield of our developed market peers, with the UK boasting a 3.7% yield and the US just 1.7%.
Last year, total dividends paid out to investors totalled a record $113 billion. S&P Dow Jones analysts found that our market's dividend pool has grown at a compound annual growth rate (CAGR) of 6.5% over the past 10 years - far higher than the RBA's inflation target of 2%.
In fact, 148 companies increased their dividends in 2022, despite the S&P/ASX 300 falling quite deeply into the red. In total, 216 companies paid out dividends last year.
As it currently stands, there are 32 stocks within the S&P/ASX 300 with trailing yields higher than the long-term average market return of 8%. Without stating the obvious, this is far higher than the Australian market's average of 4.5%.
As the saying goes, when something looks too good to be true, it usually is.
So in this episode, Livewire's James Marlay was joined by Antares Equities' Andrew Hamilton and Plato Investment Management's Peter Gardner for their analysis of the equity income spectrum, as well as the stocks they believe can continue to pay out sustainably high dividends from here.
Plus, because we all know this anonymous writer loves a dash of drama, we asked Peter and Andrew to each name one double-digit yielder likely to face dividend-paying challenges from here.
Note: This interview was filmed on Wednesday 3 May 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/6-stocks-with-sustainably-high-dividends-and-2-on-the-way-south/
Since September last year, Australian investors have piled into defensive dividend-paying darlings in a bid to protect their capital.
Think Aristocrat Leisure (ASX: ALL), which has seen its share price soar 23% year to date. Or ResMed (ASX: RMD), which has generated a return of 16% in just four months. Or Transurban (ASX: TCL) - which despite its recent selloff, is still up 13% in 2023 alone.
But should you overpay to be defensive?
In this episode, Livewire's James Marlay was joined by Plato Investment Management's Peter Gardner and Antares Equities' Andrew Hamilton for their analysis of three high-yield stocks that haven't enjoyed the re-rating of their peers over the past few months.
Plus, we also asked them to name one high yield stock that hasn't seen its share price materially rise this year.
Note: This episode was filmed on Wednesday 3 May 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-high-yielders-trading-at-compelling-prices
The music industry can be savage. The majority of artists work their entire lives to make hardly any money at all. And then there are those who produce a truly great song - only to become a one-hit-wonder.
Come to think of it, Australia's resources and materials sector isn't so different.
So in this episode, Tribeca Investment Partners' Todd Warren and Eley Griffiths Group's Tim Serjeant analyse three stocks that have seen their share prices soar over the past 12 months.
Plus, for a challenge, we asked them to name two stocks they believe are now past their prime.
Note: This episode was recorded on Wednesday 19 April 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-rockstars-and-2-past-their-prime
There have been very few market themes in recent years (perhaps apart from buy-now-pay-later) that have whipped the market into a frenzy quite like battery metals.
The promise of widespread electric vehicle adoption and the demand it would create saw the share prices of producers and explorers alike surge.
In 2022 it was the rising tide that lifted all boats, as lithium prices soared, whilst 2023 – so far at least – has been a more sobering experience.
The question now begs, can these commodities resume their upward trajectory, or will they be resigned to suffer the same fate as the many hot commodities that came before?
To unpack these themes, Bell Direct’s Grady Wulff is joined by Tim Serjeant from Eley Griffiths Group and Todd Warren from Tribeca Investment Partners.
They share their insights on the current state of the commodities markets and two commodities (and stocks) they like moving forward.
And, as an added bonus, they each share a commodity and a stock they believe the market has misunderstood.
Note: This episode was filmed on Wednesday 19 April 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/why-there-s-still-room-in-the-tank-for-battery-materials
According to McKinsey, copper demand will increase to 36.6 million metric tonnes per annum by 2031. For context, production from all the copper mines around the globe was just 22 million metric tons in 2022.
Meanwhile, Goldman Sachs believes that copper prices will soar from US$8500/t to US$11,000/t this year.
So how are fund managers investing in copper?
In this episode, Eley Griffiths Group's Tim Serjeant and Tribeca Investment Partners' Todd Warren analyse three of the few copper stocks remaining on the ASX.
And for a bit of fun, they also name their highest-conviction call for the next five years.
Note: This episode was filmed on Wednesday 19 April 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-hot-copper-stocks-and-2-high-conviction-calls
Typically less researched than their large-cap counterparts, small-cap companies can easily rise to 'market darling' status.
We all know the stocks. They’re the ones that the bulls get hold of, causing them to rally to dizzying heights. They’re often the ones discussed in stock chat rooms where warnings about ramping are largely ignored.
Very often (almost universally) a market darling’s price departs significantly from its fundamental reality, and these stocks can become overhyped and overbought. No points for guessing what happens next.
So, how on earth are you meant to sort the wheat from the chaff? Which stocks are growing and have positive outlooks, but aren’t overcooked? And which have run too hard?
To find out, Livewire’s Chris Conway was joined by Yarra Capital Management's Katie Hudson and Prime Value's Mike Younger for their analysis of three undiscovered gems. Plus, they also name and shame two overhyped duds.
Note: This episode was filmed on Wednesday 5 April 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-undiscovered-gems-and-2-overhyped-duds
It hasn't been easy being a small-cap investor over the past 12-18 months. Since December 2021, the ASX Small Ordinaries has nosedived around 18%, while the S&P/ASX 200 (which tracks the country's listed large-cap companies) has posted modest gains over the same time period.
So, where to from here?
Well, having rebounded from a fresh low in March, it could be argued that small caps have reached their nadir, offering far more compelling value than their large-cap peers. Given the recent pause in interest rates, it's also worth noting that small caps typically bounce harder when the cycle turns.
To explore these themes and more, Livewire’s Chris Conway was joined by Yarra Capital Management's Katie Hudson and Prime Value's Mike Younger to discuss whether the worst is over for small caps, where they are finding pockets of value, and which stock they got wrong over the past 12 months.
Plus, for a little bit of fun, we also asked them each to pick one small-cap stock they would go all-in on – but only if they had to, of course.
Note: This episode was filmed on Wednesday 5th of April 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/2-big-buys-and-why-the-worst-could-be-over-for-small-cap-investors
Australia's GDP growth has been on a steady decline for a while now. While the economy was still growing at a rate of 0.5% in the fourth quarter of 2022, that pace has slowed markedly from the 3.7% print seen in 2021.
The December quarter of 2022 was the fifth consecutive period of economic growth, but it was also the smallest uplift of that period. That's likely because consumers are increasingly burning through their savings as cost pressures and interest rates remain elevated.
So where can investors find growth in a low or even no-growth world?
In this episode, Livewire's Chris Conway was joined by Yarra Capital Management's Katie Hudson and Prime Value's Mike Younger for their analysis of three small-cap stocks with big growth runways ahead of them.
Plus, they each also name a high-conviction portfolio position with what they believe to be the best growth prospects over the year to come.
Note: This episode was filmed on Wednesday 5 April 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-undervalued-small-caps-with-big-growth-prospects
There are some of us that thirst for the adrenaline hit that comes with taking risks, whether it be cliff jumping, skydiving, or making questionable bets on the stock market.
This may work for the daredevils among us, but for others, there could be nothing worse than putting their lives (and money) at risk.
So where do you sit on the scale from risk-loving to risk-averse? Are you an aggressive investor, with the stomach for volatility and losses in your high-growth journey? Or are you readying for retirement, and need to be more conservative with your cash?
Have no fear. Livewire Markets has done the heavy lifting for you. In this episode, Livewire's Ally Selby was joined by Pitcher Partners' Charlie Viola and Shaw and Partners' Candice Bourke for their top listed product recommendations across three different risk profiles.
There really is something in here for everyone.
Note: This episode was filmed on Wednesday 22 March 2023. You read an edited transcript below:
https://www.livewiremarkets.com/wires/6-asx-listed-products-for-the-risk-loving-and-risk-averse-investor/
With more than 280 exchange-traded products listed on the ASX, Livewire is on a mission to learn whether investors, like you, can build the perfect portfolio with listed products alone.
A few quick stats for you:
- Over the past 12 months (to the end of February), the market cap of the Australian ETF market swelled 7.1% to $136.2 billion.
- The majority of investors' funds are invested in global equities-focused ETFs ($61 billion, down slightly on the prior year).
- $38 billion is invested in ETFs tracking Aussie equities exposures (up 12% over the past 12 months).
- Interestingly, investments in fixed income-focused ETFs have skyrocketed more than 22% in that same time period to $19.5 billion.
So, how do you decide which products would best help you compound your hard-earned cash?
In this episode, Livewire's Ally Selby was joined by Shaw and Partners' Candice Bourke and Pitcher Partners' Charlie Viola for their go-to funds for both equities and defensive exposures.
They also share the biggest mistakes they are seeing in the client portfolios they have inherited over the past 12 months, and their top tips for how investors can make their portfolios work for them (instead of the other way around).
And just because you know this anonymous writer loves a little bit of spice, we also asked Charlie and Candice to name a product or fund they believe no longer has a place in investors' portfolios.
Note: This episode was filmed on Wednesday 22 March 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/4-adviser-approved-etfs-for-2023-and-top-tips-to-make-your-portfolio-work-for-you
There's something to be said about the wisdom of the crowd. Take your local coffee shop, for example. Sure, there are other options without a lengthy queue, but I am willing to make a bet that the crowded cafe is bursting with patrons for a reason.
But could the same be said of markets?
In this episode, Livewire's Ally Selby was joined by Pitcher Partners' Charlie Viola and Shaw and Partners' Candice Bourke to test the exchange-traded fund (ETF) ideas of Livewire readers.
They analyse your top-tipped ETFs for 2023. And spoiler alert - there are only two that they agree on.
Note: This episode was filmed on Wednesday 22 March 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-of-livewire-readers-top-etfs-for-2023
If there was one theme that stood out to this anonymous writer this February reporting season, it was that companies that missed earnings expectations were hammered by investors.
Think Downer (ASX: DOW), which has seen its share price sink more than 16% after it missed consensus forecasts by -12% (and downgraded guidance by -18%, after already downgrading by -15% in December). Or Domino's (ASX: DMP), that share price of which has plummeted nearly 37% since it missed expectations in its half-yearly result. Or Star Entertainment (ASX: SGR), which has seen its share price fall nearly 15% since it reported results - with net profit after tax missing consensus by -14%.
But they say you should buy when there's blood in the streets...
So in this episode, Centennial Asset Management's Matthew Kidman was joined by Firetrail Investments' Blake Henricks and Market Matters' James Gerrish to analyse these three heavily sold-off stocks.
Plus, they each point to one stock that is on their radar (or has been recently added to their portfolio) off the back of results season.
Note: This episode was filmed on Wednesday 8th March 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-heavily-sold-off-stocks-and-2-now-on-fundies-radars
As anyone who has worked under a manager knows, leaders can make or break a business. A good leader will bring out the best in their team, hone their skills, and inspire them to achieve more than they thought was possible themselves.
Bad leaders, well, do exactly the opposite.
Recently, one of our readers requested that we produce a refresher on the top management teams in the country. And, off the back of an incredibly challenging first half of the financial year 2023, there's no time like the present.
So, in this episode, you'll learn which management teams have demonstrated their leadership prowess, steering their employees and business onto greater success amid an ever-challenging macro environment.
Here, Centennial Asset Management's Matthew Kidman was joined by Market Matters' James Gerrish and Firetrail Investments' Blake Henricks to identify the crème de la crème of ASX-listed leaders across the energy, resources, tech, healthcare and consumer discretionary sectors.
Note: This episode was filmed on Wednesday 8 March 2023. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/the-10-best-asx-management-teams-right-now
We are done and dusted with another reporting season, and what a month it was. Stocks were heavily sold off on earnings misses, soared on earnings beats, and ended up pretty much where they started once the dust settled.
Throughout this earnings season, two themes stood out. Wages growth reigned supreme as a widespread headwind for many companies - not only those based in Western Australia but across the board, while previously inflated cost pressures finally started to abate.
According to FNArena, 32.8% of stocks missed earnings expectations, 38% were in line and 29.3% beat estimates over the past month.
So in this episode, Centennial Asset Management's Matthew Kidman was joined by Firetrail Investment's Blake Henricks and Market Matters' James Gerrish for their analysis of three stocks whose results shot the lights out during the February reporting season.
Plus, they also each name one company that disappointed investors with a less-than-desirable result.
Note: This episode was filmed on Wednesday 8 March 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-cracking-results-and-2-disappointments
There's a well-known maxim that all budding journalists are taught on their first day in a newsroom - bad news sells.
Sure, it's nice to read about markets going up and the magic of compounding, or the wonderful contributions people are making in our communities, but really, planes crashing, corrupt companies, cyber hacks, and unfortunate public blunders are much more likely to get the eyeballs.
But Livewire isn't your average news site. So in this episode, we thought we would take a look at some of the companies making headlines for the right reasons (and some that are definitely not).
Livewire's Ally Selby was joined by Forager Funds Management's Chloe Stokes and Alphinity Investment Management's Mary Manning for their analysis of these three newsworthy stocks.
And, getting our crystal balls out, they also each name a company that could be making headlines (for all the right reasons) in the near future.
Note: This episode was filmed on Wednesday 22 February 2023. You can read the edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-stocks-making-headlines-and-2-with-major-catalysts-on-the-horizon
Lately, it seems like hopes of a central bank pivot have been quashed.
The RBA recently made a surprise about-face to a more hawkish policy position, while the Federal Reserve continues to hint at rates staying higher for longer.
As you'd expect, investors have been following central bank statements like gospel. But markets are forward-looking and most of the world's indices are currently in the black in 2023.
So in this episode, Alphinity's Mary Manning and Forager's Chloe Stokes share their outlook on interest rates and recession, as well as their top stock picks for offence and defence in this environment.
Note: This episode was filmed on Wednesday 22 February 2023. You can read the edited transcript below:
https://www.livewiremarkets.com/wires/4-stocks-for-offence-and-defence-for-today-s-volatile-markets/
According to Christian teachings, the Holy Trinity refers to the idea that God is one being but can be seen in three different lights.
And although this anonymous writer is an atheist, there is another Holy Trinity I believe investors should get behind - the intersection of Quality, Value, and Growth.
Instead of following just one factor (for example, the great war between good and evil - or as I like to call it, value and growth), why not invest in a high-quality company that boasts both characteristics?
So in this episode, Livewire's Ally Selby was joined by Alphinity Investment Management's Mary Manning and Forager Funds Management's Chloe Stokes for their analysis of two quality stocks with growing revenues or earnings, trading at an attractive price.
Plus, our guests also each name one "holy trinity" stock of their own.
Note: This episode was filmed on Wednesday 22 February 2023. You can read the edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-4-quality-stocks-for-value-and-growth
Despite our good intentions, our behavioural biases can often get in the way of making good investment decisions. As Benjamin Graham wrote, "The investor's chief problem - and even his worst enemy - is likely to be himself."
So how do you lessen the likelihood of a behavioural blunder? Just like everything in investing - there is no easy answer. But simple tools such as price-to-earnings ratios may help.
Traditionally, stocks with high PE ratios are considered overvalued - with investors paying up for promises of future growth. But are lower PE stocks always better value?
To find out, Livewire's Ally Selby was joined by Merlon Capital Partners' Neil Margolis and Totus Capital's Ben McGarry for their analysis of three of the lowest PE names on the ASX.
Plus, for a little dash of drama, we asked them to name one crowded darling that could drop from here.
Note: This episode was filmed on Wednesday 8 February 2023. You can read the edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-stocks-with-ultra-low-pes-and-2-darlings-to-drop
It takes a certain chutzpah to stick to your strategy in wildly volatile markets. And for these two managers, it certainly paid off.
Merlon's Concentrated Australian Share Fund delivered a return of more than 22.30% over the past year, while its Australian Share Income Fund lifted just over 18.08%.
Similarly, alternatives manager Totus Capital had a stellar year, with its Alpha Long Short Fund delivering a return of 9.44% over the past 12 months, and its Alpha Fund a return of 10.52%.
So what did it take to be a top-performing manager in 2022? And how are these portfolios positioned for the months ahead?
In this thematic episode of Buy Hold Sell, Livewire's Ally Selby was joined by Merlon Capital Partners' Neil Margolis and Totus Capital's Ben McGarry for an insight into their strategies, as well as their highest conviction stock picks for the year ahead.
Note: This episode was filmed on Wednesday 8 February 2023. You can read the edited transcript below:
https://www.livewiremarkets.com/wires/5-high-conviction-calls-from-2022-s-top-performing-fund-managers
Last year, metals, mining and energy stocks performed spectacularly well. Scan a list of the best performers from 2022, and it's really only coal, lithium, and oil and gas exposures that took out the top spots.
Think names like Whitehaven Coal, New Hope, Core Lithium, Woodside Energy Group, Coronado Global Resources, Stanmore Resources, and Yancoal - these resources plays delivered double-digit, and in some cases triple-digit returns in a year when the rest of the market fell flat.
But can resource stocks continue to run over the year ahead? In this episode, Livewire's Ally Selby is joined by Totus Capital's Ben McGarry and Merlon Capital Partners' Neil Margolis for their analysis of three topical resource names right now.
Plus, they also name their top pick within the mining and energy sectors for the year ahead.
Note: This episode was filmed on Wednesday 8 February 2023. You can read the edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-for-the-run-in-resources
Your top-tipped large caps from 2022 performed suspiciously well. Either readers like you have access to a working crystal ball, or you know far more than the professionals would let on.
Aided by the stellar performance of Mineral Resources and Woodside, your favourite large caps delivered a total return of 14.35%, far more than the -5.5% drop of the benchmark S&P/ASX 200 during the year.
So can you back it up again in 2023? As you'll find out in this episode, the experts certainly think so. In fact, not one of the five most-tipped large caps for the year ahead has been dubbed a "sell".
Livewire's Ally Selby was joined by Marcus Today's Henry Jennings and Medallion Financial's Michael Wayne for their analysis of CSL, BHP Group, Macquarie Group, Mineral Resources and Woodside.
Plus, we also asked our guests to name one large-cap stock they think should have made your 2023 list instead.
Note: This episode was filmed on Wednesday 24th January 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-your-top-large-caps-for-2023-and-2-that-should-have-made-the-list
There's something to be said about starting from scratch. How many of us have dived headfirst into university degrees, careers and relationships before realising, sometimes later than we would have liked, that perhaps it wasn't the right fit?
The same could be said of our investment portfolios. It's far better to review your holdings, have an honest conversation about what worked and what didn't over the calendar year, and set out practical steps so you can stick to your strategy over the months ahead.
Well, it's that ... Or you can buy a shovel, dig a decent hole and bury your head in the sand.
In this thematic episode of Buy Hold Sell, Livewire's Ally Selby was joined by Medallion Financial's Michael Wayne and Marcus Today's Henry Jennings for a full portfolio reset.
They outline the headwinds they are watching as we move into the second month of 2023, the sectors that currently look promising, as well as the stocks they would want as their top three holdings if they could start completely from scratch.
And because I know you love it when we dish the dirt on portfolio duds, they also share some of their most painful positions from the year just past.
Note: This episode was filmed on Wednesday 24 January 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/6-stocks-for-a-full-portfolio-reset-in-2023
We're back, baby! For the first episode of Buy Hold Sell for 2023, we're taking a look at Livewire readers' favourite small-caps stocks for the year ahead... And what a list it is.
Think a rare earth miner which boasts Australia's richest billionaire as a major investor, a tech darling that has taken a painful dive from its highs, and a stock next in line for the lithium throne.
There's also the only true copper play on the ASX after BHP and OZ Minerals' $9.6 billion deal, and, of course, another lithium hopeful because, as this anonymous writer has penned before, if there is one thing Livewire readers love more than dividends and long-term compounders (and don't forget long-term compounders with growing dividends), it's lithium stocks.
In this episode, Livewire's Ally Selby was joined by Marcus Today's Henry Jennings and Medallion Financial's Michael Wayne for their analysis of these tantalising small-cap stocks.
And just in case they were not a fan of readers' top picks, we also asked them to name the small cap they believe should have made the top five instead.
Note: This episode was filmed on Wednesday 24th January 2023. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-the-top-small-cap-picks-for-2023-and-2-fundie-favourites
Fund managers get judged by their investors, prospective investors and peers.
That last category is possibly the most informed of the lot. Fundies know what it's like to put in the work managing money. They pour over financial data, they visit companies on-site, and they make the hard-line calls.
So there may be no higher praise than to be called "a fund manager's fund manager".
Again in this year's Outlook Series, we ask 16 fund managers to name the fund manager to whom they'd hand over their own hard-earned capital.
They've come to the table with a diverse group of fund managers, including those in venture capital. Two of them even nominated one of the co-panellists!
And, in the name of diversification, you'll find that the fundies have often opted for funds that are outside their own wheelhouse.
Guest order in this podcast:
- Ben Clark, TMS Capital
- Michael Goldberg, Collins St Value Fund
- Mary Manning, Alphinity Investment Management
- Dion Hershan, Yarra Capital Management
- Matthew Kidman, Centennial Asset Management
- Robert Gregory, Glenmore Asset Management
- Catherine Allfrey, Wavestone Capital
- Nick Sladen, LSN Capital Partners
- Anthony Aboud, Perpetual Asset Management
- Nick Griffin, Munro Partners
- Jun Bei Liu, Tribeca Investment Partners
- Romano Sala Tenna, Katana Asset Management
- Oscar Oberg, Wilson Asset Management
- Marcus Padley, Marcus Today
- Andrew Clifford, Platinum Asset Management
Note: This vision was filmed on the 6th and 13th of December 2022. You can watch read an edited transcript below:
https://www.livewiremarkets.com/wires/16-funds-the-professionals-would-invest-in
The most successful investors seek out roads less travelled and avoid well-worn paths. To help you steer clear of some of the most popular trades, those whose best days are likely behind them, we’ve gathered half a dozen successful fund managers. In this podcast, they delve into a handful of investment themes – including one sector that’s riding the coattails of the energy transition and a dangerous currency play, among others – that are waving red flags currently. Guest order in this podcast:
- Nick Griffin, Munro Partners
- Nick Sladen, LSN Capital Partners
- Marcus Padley, Marcus Today
- Robert Gregory, Glenmore Asset Management
- Michael Goldberg, Collins St Asset Management
- Dion Hershan, Yarra Capital Management
Note: We would like to thank the fund managers for sharing their insights for 2023 in the spirit of the Outlook Series. All of the fund managers featured in this series run diversified portfolios. This is not intended to be a set of recommendations. Please do your own research and seek advice from a professional before making any investment decisions of your own.
This vision was filmed on the 13th of December 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/4-crowded-trades-to-avoid-in-2023
The only certainty in financial markets is uncertainty. That said, it pays to think critically about what the future might hold and to strategise accordingly. In that vein, we have once again asked our fund managers to look into their crystal ball and share a dangerous or bold prediction for the year ahead. Four of the fundies have some interesting predictions for interest rates, whilst many are taking a glass-half-full approach after a tough 2022. Find out what they are backing and decide whether you agree with their outlooks by listening to the podcast. Guest order in this podcast:
- Jun Bei Liu, Tribeca Investment Partners
- Nick Sladen, LSN Capital Partners
- Matthew Kidman, Centennial Asset Management
- Marcus Padley, Marcus Today
- Catherine Allfrey, WaveStone Capital
- Robert Gregory, Glenmore Asset Management
- Andrew Clifford, Platinum Asset Management
- Nick Griffin, Munro Partners
- Mary Manning, Alphinity Investment Management
- Michael Goldberg, Collins St Asset Management
- Oscar Oberg, Wilson Asset Management
- Ben Clark, TMS Capital
- Dion Hershan, Yarra Capital Management
- Romano Sala Tenna, Katana Asset Management
- Anthony Aboud, Perpetual Asset Management
Note: We would like to thank the fund managers for sharing their insights for 2023 in the spirit of the Outlook Series. All of the fund managers featured in this series run diversified portfolios. This list is not, nor is it intended to be, a set of recommendations. Please do your own research and seek advice from a professional before making any investment decisions of your own. Past performance is not a reliable indicator of future returns.
This vision was filmed on the 6th and 13th of December 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/15-bold-predictions-for-the-year-ahead
2022 was a year of macro. Runaway inflation and the rate hikes central banks responded with dominated headlines, and everything else seemed to feed from that.
These problems remain with us still, but they've been largely priced into markets.
So how do you parse the noise from the themes that matter?
As part of our 2023 Outlook Series, we asked 15 fundies to describe the investment themes they're keeping an eye on.
Guest order in this podcast:
- Mary Manning, Alphinity Investment Management
- Dion Hershan, Yarra Capital Management
- Jun Bei Liu, Tribeca Investment Partners
- Marcus Padley, Marcus Today
- Ben Clark, TMS Capital
- Nick Griffin, Munro Partners
- Andrew Clifford, Platinum Asset Management
- Catherine Allfrey, Wavestone Capital
- Michael Goldberg, Collins St Value Fund
- Matthew Kidman, Centennial Asset Management
- Nick Sladen, LSN Capital Partners
- Anthony Aboud, Perpetual Asset Management
- Robert Gregory, Glenmore Asset Management
- Romano Sala Tenna, Katana Asset Management
- Oscar Oberg, Wilson Asset Management
Note: We would like to thank the fund managers for sharing their insights ahead of 2023 in the spirit of the Outlook Series. This article is not, nor is it intended to be, a set of recommendations. Please do your own research and seek advice from a professional before making any investment decisions of your own.
This vision was filmed on the 6th of December 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/15-problems-that-are-puzzling-fundies-right-now
After a 15-year slumber, macro returned with a vengeance in 2022.
Unsurprisingly, the past year may have investors feeling a little wary about how central banks will fare in their race to bring inflation back to target. And inflation is only one part of the story.
As part of our Outlook Series for 2023, we asked nine fund managers who keep a close eye on the big picture to share the top macro indicators worth watching over the next 12 months, as well as what it could take for investors to start feeling a lot more bullish.
And in a world where the impact of record-breaking inflation on earnings is still unclear, 2023 is shaping up to be another year where the macro could dictate the narrative in financial markets once again. Guest order in this podcast:
- Andrew Clifford, Platinum Asset Management
- Catherine Allfrey, WaveStone Capital
- Anthony Aboud, Perpetual Asset Management
- Mary Manning, Alphinity Investment Management
- Oscar Oberg, Wilson Asset Management
- Ben Clark, TMS Capital
- Matthew Kidman, Centennial Asset Management
- Jun Bei Liu, Tribeca Investment Partners
- Romano Sala Tenna, Katana Asset Management
Note: We would like to thank the fund managers for sharing their insights ahead of 2023 in the spirit of the Outlook Series. This is not, nor is it intended to be, a set of recommendations. Please do your own research and seek advice from a professional before making any investment decisions of your own.
This podcast was recorded on the 6th of December 2022. You read an edited transcript below:
https://www.livewiremarkets.com/wires/the-top-macro-indicators-to-watch-in-2023
Market crashes. Hard landing recession talk. Interest rate rises. And to top it all off, we even missed out on a Santa Rally in December and started the year in the red across all sectors.
The scene is set for a fairly nasty year by any account. So you would be forgiven for expecting 2023 to be the year for the bears.
Instead, six of Melbourne's finest market experts believe it’s time to ignore the market noise and look to greener pastures ahead.
Guest order in this podcast:
- Marcus Padley, Marcus Today
- Michael Goldberg, Collins St Asset Management
- Robert Gregory, Glenmore Asset Management
- Dion Hershan, Yarra Capital Management
- Nick Sladen, LSN Capital Partners
- Nick Griffin, Munro Partners
Note: The information provided is not intended to be a recommendation. Please do your own research and seek advice from a professional before making any investment decisions. Past performance is not a reliable indicator of future returns.
You can read an edited transcript below. These interviews were filmed on 13 December 2022. https://www.livewiremarkets.com/wires/no-bears-here-the-6-bulls-you-ll-meet-in-2023
Well, folks, we made it through 2022. And what a year it was. Inflation soared for the first time in decades, interest rates lifted at frightening velocity, and bonds posted their worst year in history.
Now, more than ever, expert analysis and ideas are paramount. So, as part of our Outlook Series for 2023, Livewire reached out to 15 of the country's most respected fund managers for their highest conviction ideas for the year ahead.
While last year's picks were no match for the new market regime, previous years' have performed exceptionally well. So sit back, relax and enjoy this year's best stock ideas.
Speaker order:
- Romano Sala Tenna, Katana Asset Management
- Nick Griffin, Munro Partners
- Jun Bei Liu, Tribeca Investment Partners
- Marcus Padley, Marcus Today
- Oscar Oberg, Wilson Asset Management
- Robert Gregory, Glenmore Asset Management
- Catherine Allfrey, WaveStone Capital
- Dion Hershan, Yarra Capital Management
- Matthew Kidman, Centennial Asset Management
- Nick Sladen, LSN Capital Partners
- Mary Manning, Alphinity Investment Management
- Michael Goldberg, Collins St Asset Management
- Andrew Clifford, Platinum Asset Management
- Anthony Aboud, Perpetual Asset Management
- Ben Clark, TMS Capital
Note: We would like to thank the fund managers for sharing their top stock ideas for the year ahead in the spirit of the Outlook Series. Obviously, all of the fund managers featured in this series run diversified portfolios, and do not invest solely in the stocks mentioned below. This list is not, nor is it intended to be a set of recommendations. Please do your own research and seek advice from a professional before making any investment decisions of your own. Past performance is not a reliable indicator of future returns. This vision was filmed on the 6th and 13th of December 2022.
You can read an edited transcript below. https://www.livewiremarkets.com/wires/the-1-stock-picks-for-2023
Getting things wrong is intrinsically human. From messing up the lyrics to a famous song, telling your significant other to take a left ("No, the other left!"), or investing in a company that ultimately goes sideways, these mistakes can often haunt us, hurt us, or help us improve as humans. But admitting when we got it wrong, well, that's a particularly humble skill. So in the first of our Outlook Series for 2023, nine of Sydney's top fund managers candidly reveal the painful positions that have kept them up at night over the last 12 months. Plus, they share what they have learnt from these calls so that you can become a better investor over the year ahead.
Guest order:
- Andrew Clifford, Platinum Asset Management
- Anthony Aboud, Perpetual Asset Management
- Ben Clark, TMS Capital
- Catherine Allfrey, WaveStone Capital
- Matthew Kidman, Centennial Asset Management
- Jun Bei Liu, Tribeca Investment Partners
- Mary Manning, Alphinity Investment Management
- Oscar Oberg, Wilson Asset Management
- Romano Sala Tenna, Katana Asset Management
Note: These interviews were filmed on the 6th of December 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/ouch-9-painful-calls-from-2022
It's beginning to look a lot like Christmas. Glittering trees adorn every office, the local bars and restaurants are palpable with cheer, and workers are prepping for a well-earned break after what has been a very unusual few years.
But can we expect a Santa Rally into the new year?
Well, according to the Wall Street Journal, the S&P 500 has risen 73% of the time in December since 1928, delivering a 1.4% gain on average. Even the tech-heavy NASDAQ has risen 61% of the time during the month since 1971, recording an average return of 1.7%.
But what about the ASX? Here, Bell Direct's Grady Wulff was joined by Blackmore Capital's Marcus Bogdan and Firetrail Investments Blake Henricks for their analysis of five stocks poised for a possible Santa Rally into the new year.
Note: This episode was filmed on Wednesday 23 November 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-for-a-santa-rally/
If you've been noticing a little less cash in your wallet recently, it's very likely that inflation is to blame.
For the 12 months until the end of September, the prices of fruit and vegetables rose more than 16%, while dairy products increased by around 12%. Fuel prices, which thankfully have dropped from their peak, are still up 18% for the year. Energy bills, however, are still on the rise, with gas and other household fuels lifting nearly 11% in the September quarter. Ouch!
You've probably also noticed that inflation hasn't been kind to share markets. But some sectors (and stocks) are far better placed to play it.
Here, Bell Direct's Grady Wulff was joined by Blackmore Capital's Marcus Bogdan and Firetrail Investments' Blake Henricks for their thoughts on whether inflation will remain sticky into the new year, as well as the top sectors and stocks to outperform if it remains anywhere above central banks' target levels of 2-3%.
Note: This episode was filmed on Wednesday 23 November 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/how-to-beat-the-inflation-blues-and-2-stocks-to-do-so
Since hitting a low in September, the S&P/ASX 200 has rebounded a whopping 12.3%. And while markets are typically forward-looking, there are still plenty of headwinds that could see our bourse head south.
So how can you protect your portfolio? Well, that's where defensives come in.
Defensive stocks typically belong to sectors where there is consistent demand for products or services throughout the economic cycle - such as supermarkets and food suppliers, utility providers, and the myriad of healthcare services. It also includes stocks with long-term track records of delivering consistent earnings in the face of the many challenges the market (and world) may throw at them.
In this episode, Bell Direct's Grady Wulff makes her Buy Hold Sell debut alongside Firetrail Investment's Blake Henricks and Blackmore Capital's Marcus Bogdan for their analysis of three defensive darlings.
Plus, they also name their top defensive pick to arm investors' portfolios against any future falls to come.
Note: This episode was filmed on Wednesday 23rd November 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-defensives-to-arm-portfolios-against-future-falls/
If there is one thing we can take away from what has been a very tumultuous 2022, it is that it's been a year of very few winners and many losers.
Perhaps that's why so many investors are now turning to "expensive defensives", giving up valuation in the hope that these crowded trades will help bolster their portfolios against any future falls that may lay ahead.
So in this episode, Livewire's Ally Selby was joined by ClearLife Capital's David Moberley and QVG Capital's Josh Clark for their analysis of five stocks professional investors have been hiding within in recent months.
And spoiler alert, there's only one that David and Josh can agree upon.
Note: This episode was filmed on Wednesday, November 9th 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-the-pros-have-been-buying
A recent Bank of America survey found that professional investors are holding their highest levels of cash in 21 years, with the research house's Michael Hartnett declaring the latest survey of 371 global investors "screams macro capitulation, investor capitulation, [and the] start of policy capitulation."
Despite the negative connotation of the above, this could actually be good news for markets. After all, BofA found that the share of investors who believe rates will lower over the next 12 months doubled to 28% in October, while those who see rates going higher dropped from an early 2022 peak of 92% to just 59% during the month.
And with US CPI coming in lower than expected overnight, the bulls could just be right. But that doesn't mean you should throw all caution to the wind. Inflation is still running at an incredibly hot 7.7% (in the US, at least).
So has the bearishness of the market created some crowded trades? And should you be hiding within these stocks too?
To find out, Livewire's Ally Selby was joined by ClearLife Capital's David Moberley and QVG Capital's Josh Clark for their outlook on today's market.
Note: This episode was filmed on Wednesday, November 9th 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/why-the-pros-are-still-cautious-and-whether-you-should-be-too
Total short selling on the ASX has been on the rise since the start of the new financial year, with short interest lifting 53% since then.
That's according to ShortMan, which tracks the 100 most-shorted stocks on the ASX. As it stands today, there are 14 stocks with a short interest greater than 8%. This means that 8% or more of the shares on a company's register are currently being shorted.
Hedge fund managers, or long/short funds, use shorting to target (and ultimately benefit) from a stock's falling share price. They rarely target stocks tracking on a steady upwards trend (as this can lead to a short squeeze, as we saw with GameStop).
According to QVG Capital's Josh Clark, anything above 8% should be considered "big". Investors should keep this in mind because stocks with large short positions are often more volatile and sensitive to market news and announcements. This is true for both positive and negative news - as we have seen in recent weeks, with many of the ASX's most-shorted stocks surging off their lows amid the recent market rally.
So in this episode, Livewire's Ally Selby was joined by Clark and ClearLife Capital's David Moberley for their analysis of three heavily shorted stocks.
Plus, for a spoonful of spice, they also name one stock with enviable compounding potential over the long term.
Note: This episode was filmed on Wednesday, November 9th 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-of-the-asx-s-most-shorted-stocks-and-2-long-term-compounders
Everyone loves a bargain. It's why Boxing Day sales are such a riot, or why my car salesman father tries to haggle nearly everything he buys. But as in life, sometimes a deal (or yield in this case) is too good to be true.
Dividend traps occur when investors (like you, my dear reader), are lured in by a high dividend yield before realising the underlying company isn't all it is cracked up to be. Particularly now with inflation running so hot, it's easy to see why alluringly high yields would catch an investor's eye.
However, if a company's share price continues to plummet, or it turns out the company can't pay the dividend it promised - that seductive dividend yield will turn into a trap.
In this episode, Livewire's Ally Selby is joined by Wheelhouse Partners' Alastair MacLeod and Plato Investment Management's Dr Don Hamson for their analysis of three stocks with sky-high yields that could just be dividend traps.
And for a little bit of positivity, we also asked our fundies to each name one stock with a dividend yield you can actually trust.
Now, that's what I call value for money.
Note: This episode was filmed on Wednesday 26th October 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-dividend-traps-and-2-you-can-trust
Markets this year have been scary. For the first time in decades, the ghosts and ghouls of the investment world have resurrected to haunt global markets - inflation, rising rates, and a war led by a ruthless dictator.
As a result, indices around the world have been painted in a blood red, with investors (and rightly so) catching a case of the portfolio scaries, moving towards defensives or worse, cashing in their holdings as stocks plummet.
Livewire's Ally Selby was joined by Plato Investment Management's Dr Don Hamson and Wheelhouse Partners' Alastair MacLeod for this Halloween special of Buy Hold Sell.
In it, our fundies share the biggest portfolio changes they have made this year, the positions that have come back to haunt them, as well as some ghost-busting stocks that can help blow off those cobwebs in your portfolio over the months ahead.
Note: This episode was filmed on Wednesday 26th October 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/3-stocks-to-fight-the-portfolio-scaries-and-the-mistakes-that-have-haunted-fund-managers-in-2022
On Wednesday, the Australian Bureau of Statistics announced that inflation had surged 1.8% higher in the third quarter, taking the headline inflation rate for the past 12 months to an eye-watering 7.3%. For some context, this is the highest quarterly print since June 1990.
So what does this mean for income investors? Particularly those who rely so heavily on yield?
Well, capital appreciation aside, it means that higher inflation is eating into real yields. For example, if a stock has an annual yield of 6%, at this rate, you are still losing a significant percentage of your hard-earned cash.
So in this episode, Livewire's Ally Selby was joined by Plato Investment Management's Dr Don Hamson and Wheelhouse Partners' Alastair MacLeod for their analysis of five of the highest-yielding stocks on the ASX.
And just in case you were wondering, all of these stocks have one-year forward yields, including franking, at or higher than Wednesday's print.
Note: This episode was filmed on Wednesday 26th October 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-of-the-highest-yielding-stocks-on-the-asx
Here at Livewire, we are fortunate enough to speak with the country's top investors every day. And if there is one recommendation these pros have consistently repeated in what has become a tumultuous year of rising interest rates, it's the importance of investing in stocks with tangible and growing profits.
Unlike their long-duration counterparts, stocks earning a nice clip in the here and now have managed to be quite resilient in an otherwise volatile year.
So in this episode, Livewire's Ally Selby was joined by Medallion Financial's Michael Wayne and Hayborough Investment Partners' Ben Rundle for their analysis of three profitable ASX darlings.
Plus, they also bring along one small cap that they believe will continue to spew out cash (and remain resilient) over the year ahead.
Note: This episode was filmed on Wednesday 12th October 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-resilient-cash-cows
Remember in early 2021 when investment experts were talking about a "Goldilocks" scenario for markets - that is, when global economies were going from strength to strength, earnings seemed to be going through the roof, and stocks pushed investors' portfolios to lust-worthy heights?
Well now, Goldilocks has well and truly been discovered by the three bears, with major indices around the world crashing in a risk-off market.
While the Aussie large-cap index is in correction territory, the S&P/ASX Small Ords Index has suffered far worse, having fallen more than 25% year to date. Anything more than a 20% fall from a peak is considered a bear market.
So how are the professionals navigating this difficult environment for small caps? Glad you asked.
Livewire's Ally Selby was joined by Medallion Financial's Michael Wayne and Hayborough Investment Partners' Ben Rundle for their top tips on how to do exactly that.
They share whether they have been buying the dip or selling the bounce in recent months, how much cash they are holding right now in portfolios, the signals they are watching, and six stocks for when markets rebound.
Note: This episode was filmed on Wednesday 12th October 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/small-caps-are-in-a-bear-market-here-s-what-to-do-now
According to those who act with the utmost decorum, there are three subjects that should never be breached at the dining table: religion, politics, and stocks.
Why? Well, the first two have been widely covered. As for the last subject on that list, by the time your dinner guest, co-worker, and neighbour are talking about a stock, most of the good news is probably (definitely) baked in.
So in this episode, Livewire's Ally Selby was joined by Hayborough Investment Partners' Ben Rundle and Medallion Financial's Michael Wayne for their analysis of three stocks the market can't stop talking about right now (for all the wrong and some of the right reasons).
Plus, our fundies also name one underrated stock that you should probably be talking about instead.
Note: This episode was filmed on Wednesday 12th October 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-of-australia-s-hottest-stocks-and-2-actual-buys
After a stellar decade for the dazzling technology sector, these long-duration stocks have fallen back down to earth, taking many an investor's portfolio down with them (this anonymous writer's portfolio included!).
The local tech index is well and truly in a bear market, having sunken nearly 30% since the beginning of the year. The NASDAQ 100 has suffered a similar fate, also falling 30% over the same time period.
But with many stocks down as much as 90% since the start of 2022, is tech now the fertile hunting ground both Growth and Value investors are searching for?
For the last of our sector specials of Buy Hold Sell, it's a Value versus Growth face-off - with Livewire's Ally Selby joined by Investors Mutual's Lucas Goode and Market Matters' James Gerrish for their outlook on the tech sector.
They also analyse three tech darlings - Altium, Megaport and Tyro Payments - and each name their top tech picks for the year ahead.
Note: This episode was filmed on Wednesday 28th September 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-2-big-buys-and-why-fundies-are-split-on-tech-s-next-steps/
While healthcare was clearly the lifeblood of the Aussie market over the last decade, the last two years have seen many of these long-term compounders barely register a pulse.
Sure, pathology players like Sonic Healthcare (ASX: SHL) and Healius (ASX: HLS) benefited from the COVID-19 crisis, but many other favourites slumped with elective surgeries on ice and stimulus payments injected into economies.
So what have the professionals taken away from the last two years of investing in this sector? And now the COVID-19 panic is calming down, could some of the harder-hit healthcare stocks come back to life?
In the second of our Buy Hold Sell sector specials, Livewire's James Marlay was joined by two stock surgeons - Alphinity's Stuart Welch and WILSONS' Melissa Benson - for their outlook on the sector, as well as the headwinds (and tailwinds) that are swelling as we speak.
Plus, they also analyse three healthcare favourites and each name a strong buy within this sector right now.
Note: This episode was filmed on Wednesday 28th September 2022. You can watch read an edited transcript below. A note that Melissa works on the "sell" side and Stuart works on the "buy" side of markets.
https://www.livewiremarkets.com/wires/buy-hold-sell-why-healthcare-still-needs-some-reviving-and-2-strong-buys-in-the-sector/
We're back, baby. And this time, we're trying something a little different. With multiple headwinds lashing markets at the moment, the team here at Buy Hold Sell thought it would be worthwhile taking a look at some of the sectors that are storming ahead (and those that are, let's face it, being battered).
In this episode, it's all things energy. This sector has truly been able to withstand much of the volatility of tumultuous 2022, with some commodities (and related stocks) thundering to new highs thanks to unprecedented inflationary forces.
So Livewire's Ally Selby was joined by two sector specialists - Tribeca Investment Partners' Todd Warren and Monash Investors' Simon Shields for their outlook on the fulgurous energy sector.
Plus, they also analyse three energy plays, both old world and new, as well as each naming one of their top energy picks to take advantage of sky-high prices right now.
Stay tuned for two more sector specials next week (spoiler alert: you'll be learning about the two biggest growth sectors of the past decade - can you guess what they are?).
Note: This episode was filmed on Tuesday 27th September 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-why-fundies-are-bullish-on-energy-and-5-cracking-stocks/
When you think of industry leaders, large caps probably come to mind. Think iron ore giant BHP, biotechnology behemoth CSL, or global logistics software provider WiseTech.
But that's not to say there aren't bourgeoning industry leaders within the micro-cap end of the market. In fact, many small stocks have already made a name for themselves, and have become the go-to for their products and services on the global stage.
So in this episode, Livewire's Chris Conway was joined by 1851 Capital's Chris Stott and Yarra Capital Management's Joel Fleming for their analysis of three micro-cap stocks making serious strides.
Plus, our fundies also each name one micro cap with an enviable market position.
Note: This episode of Buy Hold Sell was filmed on Wednesday, 14th September 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-industry-leading-micro-caps/
Rising costs have become a major theme to come out of the August reporting season, with both inflation and the soaring cost of capital weighing on companies' balance sheets.
So which stocks can continue to survive and even thrive in this environment?
In this episode, Livewire's Chris Conway sits down with Stott and Fleming for their outlook on the future path of interest rates, as well as whether the capital needed by many micro and small caps has dried up.
Plus, they also name two stocks that can pass on these rising costs, as well as two that will likely continue to suffer.
Note: This episode of Buy Hold Sell was filmed on Wednesday, 14th September 2022. You can read an edited transcript below:
After a few months of episodes at the top end of town, the team here at Buy Hold Sell thought we would take a trip along the road less travelled.
Why? Well, micro caps are often under-researched, undervalued and underappreciated by investors. This means these stocks can potentially produce outsized returns - far greater than those seen in the large-cap end of the market.
But not all micro caps are created equal. These companies are often far less transparent, far less liquid, and can carry a hell of a lot more risk.
So in this episode, Livewire's Chris Conway makes his Buy Hold Sell debut alongside 1851 Capital's Chris Stott and Yarra Capital Management's Joel Fleming for a look at three undiscovered micro-cap gems.
Plus, they also each name one much-loved micro-cap with serious headwinds on the horizon.
Note: This episode of Buy Hold Sell was filmed on Wednesday, 14th September 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-micro-cap-buys-and-2-facing-headwinds/
If there is one thing this anonymous writer can take away from the comments left on this very platform, not to mention our Meet the Investor series, it's that Livewire's readers seriously know what they are talking about.
Many of you have been investing for years, if not decades - and a large majority of you have done it all on your own (without the help of a financial services professional).
Given that reporting season is now behind us, as well as the volatility that we have seen in markets of late, we thought it would be wise to ask Livewire readers which stocks they would like to see covered on Buy Hold Sell.
So in this episode, Centennial Asset Management's Matthew Kidman was joined by abrdn's Michelle Lopez and First Sentier's David Wilson for their analysis of five of your top stocks.
Many thanks to all the readers who sent stock requests, particularly Wendy, Lisa, Walter, Chris, and Fred, whose picks ended up being selected for this episode. We are keeping the remaining stock picks in our back pocket for future episodes.
Note: This episode of Buy Hold Sell was filmed on Wednesday, 30th August 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-of-readers-top-picks/
We investors are told time and time again that a company is nothing without a great management team. That founder-led businesses often far outperform those with hired suits. That leaders who continue to exceed expectations are a rarity - and thus, invaluable.
Considering the mess of a market in which we find ourselves, Aussie companies have proved themselves to be "resilient" - resulting in a relatively "beige" reporting season this August.
So which companies have truly come out on top? And why does having the right management team make all the difference?
In this thematic episode of Buy Hold Sell, Centennial Asset Management's Matthew Kidman was joined by abrdn's Michelle Lopez and First Sentier's David Wilson for 10 of the country's best management teams this reporting season, including leaders from the financial, tech, materials, healthcare and industrial sectors.
Note: This episode of Buy Hold Sell was filmed on Wednesday, 30th August 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/the-10-best-management-teams-this-reporting-season/
Investors across the country can be heard breathing a simultaneous sigh of relief as the all-important August reporting season comes to a close.
We made it, and it wasn't at all as bad as many predicted. And while, sure, there could be some serious storm clouds gathering on the horizon for earnings over the next six to 12 months, some companies have now proved they have the balance sheets (and the chutzpah) to survive and even thrive in the foreseeable future.
In this reporting season special of Buy Hold Sell, Centennial Asset Management's Matthew Kidman is joined by two powerhouse Aussie equities guests - abrdn's Michelle Lopez and First Sentier's David Wilson for their analysis of three stocks that smashed broker expectations (with the selection of these stocks thanks to Rudi Filapek-Vandyck of FN Arena).
And because we know you all love a little dash of drama, our guests also name two stocks that seriously disappointed this reporting season too.
Note: This episode of Buy Hold Sell was filmed on Wednesday, 30th August 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-stocks-that-smashed-expectations-and-2-disappointments/
In a market of headwinds aplenty, where nothing really seems to be working, one momentum trade continues to gain traction... Buying the ASX's most shorted stocks.
In fact, since hitting lows in June, companies like Betmakers, Nanosonics, Block, Zip Co, and Lake Resources have skyrocketed higher, lifting a respective 33%, 47%, 30%, 132% and 101%.
So what does this mean for investors like you? Well, my friend, cast your mind back to the now infamous short squeeze of January 2021 - GameStop.
Back then, hedge funds were forced to cut their losses and buy back shares to cover their short positions, as retail investors continued to bid GameStop's share price higher. This drove the momentum in the company's share price, forcing it higher still. Its a classic supply-demand equation, but in this case, not enough supply of those selling the stock, and too much demand from buyers.
So could there be some short squeeze candidates hiding among Australia's most-shorted stocks? Unfortunately, for us investors, this is a very difficult (and potentially dangerous) game to play.
So why not take a longer-term view? In this episode, Livewire's Ally Selby was joined by Ben Clark from TMS Capital and Henry Jennings from Marcus Today for their views on the five most-shorted stocks on the ASX.
Note: This episode of Buy Hold Sell was filmed on Wednesday 17th August 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-of-the-most-shorted-stocks-on-the-asx/
I don't know about you, but this anonymous writer has not had a good night's sleep in what seems like months. It's probably because this intense market volatility has been keeping investors up at night. Well, it's that or it could be that a dog is now taking over my bed. The jury is out on that one...
At some stages, many of us have suffered from some serious portfolio blues, confounded by a persistent sea of red. Meanwhile, the professionals have similarly had a rough time of it. As the benefits of the post-Global Financial Crisis bull market fade, many have posted negative returns for the first time in more than a decade.
So if you could, would you start from scratch? If the answer to that question is yes - you're in luck. In this thematic episode of Buy Hold Sell, Livewire's Ally Selby was joined by TMS Capital's Ben Clark and Marcus Today's Henry Jennings for a full portfolio reset.
They share whether they would turn a fresh page if given the chance, the top three stocks they would want in each of these hypothetical portfolios, as well as the duds that are currently giving them grief that would be on their way out.
Plus, they share the macro headwinds that are still creasing their brows, as well as the sectors (and stocks) that they believe are still providing investors with compelling opportunities today.
Note: This episode of Buy Hold Sell was filmed on Wednesday 17th August 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/6-stocks-for-a-full-portfolio-reset-and-2-duds-to-avoid/
While the US is technically in a recession, with two negative quarters of GDP growth in the first half of 2022, several leading economists would say otherwise.
Look no further than Goldman Sachs chief economist Jan Hatzius, who recently pointed to solid second-quarter earnings as proof of recession risk rolling over. Or JP Morgan's global head of macro quantitative and derivatives research, Marko Kolanovic, who remains pro-risk, steadfast that the probability of a recession is low.
Then, of course, there's former Deutsche Bank chief economist Ed Yardeni (now of Yardeni Research), who recently noted that the technical indicators are pointing in the direction of the bulls.
But that's all very US-focused. How does this fading risk impact Aussie stocks? Glad you asked.
In this episode, Livewire's Ally Selby was joined by Ben Clark from TMS Capital and Henry Jennings from Marcus Today for their analysis of three stocks that have been hit hard by recession fears.
Plus, they each name their number one pick that could soar if the risk of recession is truly behind us.
Note: This episode of Buy Hold Sell was filmed on Wednesday 17th August 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-to-soar-as-recession-risk-rolls-over/
The term "blue chip" was first coined in 1923, when an employee at Dow Jones observed several stocks trading at US$200 or more a share. As any good poker player knows, blue chips are more valuable than their red and white counterparts.
Just like in poker, these "blue chip" stocks are also highly valuable - and while the term no longer applies to expensive stocks, it has become synonymous with high-quality dividend payers that have made a name for themselves over the ages.
Really, the ASX 20 is an exclusive, members-only club, reserved for some of Australia's most valuable businesses. Think CSL, BHP, Macquarie - these stocks are market leaders, household names, and often global success stories worthy of adoration.
So in this episode, Livewire's Ally Selby was joined by IML's Hugh Giddy and Atlas Funds Management's Hugh Dive for their analysis of five stocks battling for blue chip status.
And spoiler alert: These fundies can't agree on anything in this episode - except that one of these stocks is a screaming sell.
Note: This episode was filmed on Wednesday, July 20th 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-battling-for-blue-chip-status-2022-07-28/
We investors are constantly searching for the next CSL. After all, if you invested in this growth darling a decade ago, your cash would have increased by almost 616%. If you had invested two decades ago, that figure would skyrocket to 3097%.
But not all stocks that climb their way up into the ASX 20 stay there. In the past year, we've seen the Afterpay/Block acquisition and Brambles drop from the list. And then, of course, there are names like Pasminco, ERG Group, Centro Properties and Babcock & Brown, which over the past few decades, have stung investors on their way down.
So are we spending too much time trying to uncover the next CSL and not enough time thinking about whether there's a Babcock & Brown or a Pasminco lurking in our portfolios?
In this episode, Livewire's Ally Selby was joined by Atlas Funds Management's Hugh Dive and IML's Hugh Giddy for their analysis of the current market environment, where they think is safe, as well as one stock making its way up into the top 20 - and one on its way out.
Note: This video was filmed on Wednesday 20th July, 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/two-stocks-making-their-way-into-the-asx-20-and-one-on-its-way-out/
In 1991, Florida-based portfolio manager Michael B. O'Higgins released his book "Beating the Dow". In it, he proposed a strategy whereby with as little as $5000, investors could beat the pros 95% of the time by investing in the 10 high-yield blue-chip "dogs" of the Dow Jones Industrial Average (DJIA).
Inspired by O'Higgins' work, Atlas Funds Management's Hugh Dive runs his very own version of this strategy, building a portfolio of the 10 worst-performing ASX-listed large caps at the start of the new financial year and tracking their progress.
The strike rate, surprisingly, is quite good - with the 10 "dogs" beating the benchmark in seven out of the last 10 years.
So in this episode, Livewire's Ally Selby was joined by Dive and IML's Hugh Giddy for their analysis of three of the worst-performing blue-chip stocks over the past 12 months.
Plus, they each name one beaten-down stock that they believe is the best contender for a rebound over the year ahead.
Note: This episode was filmed on Wednesday 20th July 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-dogs-of-the-asx-100-and-2-in-for-a-rebound/
They say active management comes to the fore when markets are a mess. Unsurprisingly then, several active managers have recently forwarned investors to steer clear from "beta" products - like index-tracking ETFs, over the months ahead.
While only time will tell if a passive or active approach outperforms in this tumultuous market, it may surprise investors to learn that more than 16% of the ETFs the ASX tracks delivered positive returns for investors in FY23, while 41% returned more than the S&P/ASX 200.*
So in this episode, Livewire's Ally Selby was joined by Shaw & Partners Felicity Thomas and Apt Wealth's Sarah Gonzales for a look at the best and worst performing ETFs over the past year.
Note: This video was shot on Wednesday 6 July 2022. You can read the transcript below. *From the ASX's monthly Fund Statistics.
https://www.livewiremarkets.com/wires/buy-hold-sell-the-best-and-worst-performing-etfs-of-the-year/
They say market meltdowns make an investor (a lot of money if they're wise, that is). That said, trying to pick the winners when the rest of the market is running for the hills isn't exactly easy.
After all, the S&P/ASX 200 has dropped more than 12% since the beginning of the year, while the S&P/ASX 200 VIX Index - the gauge of expected volatility for the Aussie stock market - has lifted nearly 60%.
It hasn't been easy for the country's top stockpickers either. From what we can see from ASX Fund data, more than 40% of Australian equity managers underperformed the benchmark over the 12 months to the end of May. Meanwhile, SPIVA data shows that 73.45% of active managers underperform the S&P/ASX 200 over a five-year period.
It therefore begs the question, is a passive approach a safer bet?
So in this episode, Livewire's Ally Selby was joined by Shaw & Partners' Felicity Thomas and Apt Wealth's Sarah Gonzales for their thoughts on using active or passive products to navigate market volatility.
Plus, they also share the number one question they are hearing from clients right now, as well as one ETF that they are recommending to clients to help sail through these stormy markets.
Note: This video was shot on Wednesday 6 July 2022. You can read the transcript below:
https://www.livewiremarkets.com/wires/how-to-navigate-this-market-volatility-with-etfs/
They say the end of the financial year is the best time to snap up a bargain, and just like your favourite retailer, the market happens to be offering quite a few deals right now.
Since the beginning of the year, the S&P/ASX 200 has fallen more than 12%, while the S&P 500 has cascaded nearly 20% into the red. Property - both commercial and residential - also is feeling the heat as interest rates continue to rise.
Given the challenge of identifying the companies that can succeed in this challenging market environment (or any market, for that matter) exchange-traded funds, or ETFs, have emerged as a popular bet among investors.
So in this episode, Livewire's Ally Selby was joined by Shaw & Partners' Felicity Thomas and Apt Wealth's Sarah Gonzales, who shared their thoughts on three low-cost ETFs to give your portfolios a much-needed facelift in FY23.
Plus, they name one defensive ETF that could help bolster portfolios over the months to come.
Note: This video was shot on Wednesday 6 July 2022. You can read the transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-bargain-etfs-to-refresh-your-portfolio-in-fy23/
Despite the recent sell-off in resources and materials stocks that we have witnessed over the past few weeks, investors with a penchant for miners, explorers and energy companies would be feeling pretty chuffed (comparatively, that is - let's observe a moment of silence for growth investors).
Potash prices, for example, have lifted nearly 178% over the 12 months to the end of May, while coal has lifted 176% over the past year. Meanwhile, gasoline's up nearly 65% over the past 12 months... As many of us are well aware.
And while it's easy to panic as markets are selling off, take profits, and run, in this episode, you'll see that our fundies are going against the curve and adding a few stocks to their shopping carts.
Livewire's James Marlay was joined by two "rock stars" - Ausbil's Luke Smith and Paradice Investment Management's Tom Richardson for their thoughts on three stocks investors can use to play the commodities squeeze.
Plus, they also name one sector and one stock that looks compelling over the long term.
Note: This episode was recorded on the 22nd of June 2022. You can read the transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-to-play-the-commodities-squeeze/
The past month has been pretty brutal for commodities connoisseurs.
After all, the S&P/ASX 200 Resources Index is down nearly 9% over the past four weeks alone, while copper and iron ore prices have cascaded significantly into the red. Steel, platinum, silver and gold haven't exactly survived the beating either, with all four metals falling in June.
It probably doesn't surprise investors to learn that at the stock level, it's been far, far worse. For example, lithium favourites Mineral Resources and Pilbara Minerals have seen their share prices fall more than 20% over the past month, while dividend favourites BHP and Fortescue Metals Group have dropped more than 6% and 9% respectively.
That said, they say you should buy when there is blood in the street.
So in this thematic episode, Livewire's James Marlay was joined by AUSBIL's Luke Smith and Paradice Investment Management's Tom Richardson for their take on the opportunities and risks of investing in Australia's materials, miners and explorers.
Plus, they also share why they believe the party in commodities isn't over (and not by a long shot), as well as the sectors (and stocks) within this burgeoning space that are catching their attention for the right reasons over both the short and long term.
Note: This episode was recorded on the 22nd of June 2022. You can read the transcript below:
https://www.livewiremarkets.com/wires/the-party-in-commodities-isn-t-over/
It is widely accepted that the world is on a path to a new energy mix. How and when we get there is far less certain, and it presents investors with abundant opportunities. From the materials required to build renewables to fossil fuels facing supply-side issues and alternative fuels sources like uranium – the sector is red hot.
In this episode of Buy Hold Sell, Tom Richardson from Paradice and Luke Smith from Ausbil give their views on three stocks providing exposure to different energy sources.
We also ask each of our guests to nominate a commodity they think will play an essential role in the energy transition and their preferred stock to get exposure to that commodity.
Companies with proven track records of delivering high returns on equity are sought after. And rightly so. Compounding gives exponential returns and is the holy grail of investing.
However, the power of compounding is no secret and quality stocks are usually expensive. But these aren't 'normal' times, and there's a chance that these top-tier stocks are getting caught up in the maelstrom gripping markets.
In this episode of Buy Hold Sell, we asked Anthony Aboud from Perpetual and Sean Fenton from Sage to give their views on three high ROE stocks in the ASX200 stocks. Our guests also nominate a stock that they think the market is overlooking.
Click on the video player, listen to a podcast or read an edited transcript below.
Note: This episode was recorded on the 18th of June 2022.
In challenging times, the quality of management is paramount to ensure that shareholders capital is well looked after, and companies can survive the battles. Solid fundamentals don't count for much if strategy can't be executed effectively and ethically. Lest we forget the Hayne Royal Commission into the banking sector.
But what are the common traits of good management teams and where are some examples of the best in the business?
In this episode we're joined by Anthony Aboud from Perpetual and Sean Fenton from Sage Capital - two fund managers who regularly meet with the top brass of our largest companies in the ASX.
They map out the key things they look for in a management team so you can identify them yourself, before nominating their favourite management teams (and outline why) across financials, materials, retail, healthcare and technology.
Note: This episode was filmed on Wednesday 8th June 2022. You can watch, listen or read an edited transcript below.
When threats are lurking, with size comes safety. Just look at birds: the larger the flock, the less prone they are to predators. The same applies to investing - when markets are a bit bumpy, the small end of town tends to be much more volatile than its counterparts in the large.
As we approach the end of the financial year, it has been a wild ride for equities. The ASX100 has been somewhat stable though, considering the uncertain macroeconomic environment, down only 2.35% year-to-date. This is very favourable versus the ASX200 (-7.51%) and S&P500 (-14.19%). So if you are looking for protection as well as opportunity, maybe the largest of the large is the place to be.
In this episode, we hosted Anthony Aboud from Perpetualand Sean Fenton from Sage Capital to uncover their thoughts on the darlings and the dogs of the ASX100 from FY22. Follow along as we look at 3 of the best performing ASX100 shares and 2 laggards from the past year.
The top-performing ASX100 stocks covered:
- Pilbara Minerals (ASX:PLS)
- Lynas Rare Earths (ASX:LYC)
- Incitec Pivot (ASX:IPL)
The worst-performing ASX100 stocks covered:
- Dominos’s Pizza (ASX:DMP)
- REA Group (ASX:REA)
Bittersweet. Civil war. Virtual reality. And the famous Mark Twain quote “It usually takes more than three weeks to prepare a good impromptu speech.” What do all these have in common? Why, they’re oxymorons of course!
That brings us to the topic of today’s episode of Buy Hold Sell: Resilient small caps. While these ideas are not complete opposites, the small end of town is certainly where you’ll be more susceptible to stock price capitulation, particularly as the market starts to crunch.
And boy, it is crunching alright. The S&P/ASX Small Ordinaries is down nearly 17% year to date, while its big brother the ASX200 has printed a more modest -5.5%. Some former small-cap darlings have led the descent, the following among those caught in the selloff:
- Buy now pay later company Z1P (ASX: Z1P) fell -78.75%
- Digital payments firm Tyro (ASX: TYR) down -62.94%
- Online sports betting company Pointsbet Holdings (ASX: PBH) dipped by -62.84%
- Data centre business Megaport (ASX: MP1) declined -59.54%
If you're in need of capital protection but can't let go of your Growth infatuation just yet, this episode is for you. We hosted small-cap specialists Josh Clark from QVG Capital and Gary Rollo from Montgomery Investment Management, quizzing them on the small caps they believe offer exciting upside after the sell-off while remaining resilient through market cycles.
The stocks covered are:
- Travel company Webjet (ASX: WEB),
- Billing software firm Hansen Technologies (ASX: HSN), and
- Data and software company Objective Corporation (ASX: OCL).
When volatility is up and risk appetites are down, small caps invariably take a hit. Investors will naturally gravitate towards more liquid areas of the market.
But the sell-off has been about more than just risk-off sentiment. Fundamentals have changed. Consumer-facing stocks are feeling the pinch while rising rates are set to hurt long-duration names with a lot of debt on the books.
You can still remain invested in the market, though, so long as you replace any sells with high conviction buys.
"It's ok to be active, but don't forget to buy something on the other side," says Josh Clark from QVG Capital.
In this edition of Buy Hold Sell, Josh is joined by Gary Rollo from Montgomery Investment Management to offer up some tips that will help you "aim small, miss small."
They'll also discuss the tech growth names that have 35% upside.
Read or watch below.
Note: This episode of Buy Hold Sell was shot on Wednesday 25th May 2022. You can watch the video, read an edited transcript or listen to the podcast below. All data provided by Mathan Somasundaram (DeepData Analytics)
Growth stocks have been punished, especially at the smaller and less liquid end of the market. Think of sectors like healthcare, discretionary retail and tech (Covid winners anyone?).
But what does that look like in terms of numbers? Glad you asked, as our friends at Deep Data Analytics have recently crunched the numbers and it isn’t pretty.
The worst 10 performers in the small cap healthcare sector are down ~32% on average, in discretionary retail the fall is ~49% and things get ugly in tech where the worst 10 are down ~54% on average.
No doubt many Livewire readers will have had some high-growth names on the wishlist, but couldn’t stomach the valuations. So, we invited small cap specialists Josh Clark from QVG Capital and Gary Rollo from Montgomery Investment Management to see if a selection of market darlings are cheap enough to get them interested.
The stocks covered are IDP Education, Pro Medicus and City Chic Collective. Our guests also share a growth stock that they think has been oversold and now looks attractive.
It's clear that rising rates haven't been great for local and global share markets. High P/E names, those that have led the world's major bourses over the past few years, have run and tripped off a cliff, and look to be heading for an awkward and uncomfortable belly flop in the dark waters below.
Either way, the next few months are likely to be painful for investors. But they don't have to be. In fact, there are some stocks, other than banks and commodities companies, that can surprisingly benefit from the rising rate cycle.
So in this episode, Livewire's Ally Selby was joined by Tribeca Investment Management's Jun Bei Liu and TMS Capital's Ben Clark for a look at three stocks that profit from rising rates and inflation.
Plus, they also both name one company with surprising upside ahead as the RBA continues on its aggressive rate hike cycle.
Note: This episode of Buy Hold Sell was shot on Wednesday 11th May 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-that-surprisingly-benefit-from-rising-rates/
The first half of 2022 has been marked by a surge in safe-haven buying (namely, bonds and the US Dollar Index) at the expense of growth stocks. If you need any proof of how far that part of the market has fallen, just consider that EML Payments (ASX: EML) is down more than 50% this year, while Zip (ASX: ZIP) is down more than 77%... So far.
It doesn't help that the Reserve Bank of Australia raised the cash rate for the first time in 10 years earlier this month - and has flagged more hikes will be needed if it wants to bring inflation back into its target band. The Federal Reserve is also facing the same quandary - and all in all, that's making investors nervous.
So is now the time to dip your toe in and buy quality stocks at bargain prices? Or could there be more pain at the trading desk if you decide instead to follow the crowd to cyclicals?
We examine those themes and more in this thematic episode of Buy Hold Sell. Livewire's Ally Selby was joined by TMS Capital's Ben Clark and Tribeca Investment Partners' Jun Bei Liu to discuss two contrarian calls for the remainder of 2022 and the stocks they are buying to play them.
Note: This episode of Buy Hold Sell was shot on Wednesday 11th May 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/2-contrarian-predictions-and-the-stocks-to-play-them/
We probably should have all seen it coming. Markets around the globe have taken a dive as central banks reel in the "free money" that we have enjoyed over the past few years and start to raise rates in a bid to curb the kryptonite of markets - inflation.
As it stands today, the S&P/ASX 200 has fallen more than 8.4% in 2022, while the tech-heavy NASDAQ has plunged a whopping 27.5%. Meanwhile, the S&P 500 has dropped nearly 18% year to date, the Shanghai Composite is down 15.7%, while the FTSE 100, in comparison, looks slightly better, down more than 2%.
If you're like most, your portfolios have probably also seen their fair share of red since the beginning of the year. And while they say that "bad news sells", it's always worth finding the good in every situation.
So in this episode of Buy Hold Sell, Livewire's Ally Selby was joined by TMS Capital's Ben Clark and Tribeca Investment Partners' Jun Bei Liu for a look at their highest conviction positions right now.
We hope these six bullish calls can help beat your portfolio blues.
Editors note: Hey Ally, you said six and there are only five stocks? In the midst of all the fun of this shoot, we completely forgot to record Jun Bei's last stock. Sorry about that folks. Luckily, Jun Bei and Ben have shared their analysis of the sixth stock, which you can see by clicking the link below. Once again, apologies folks.
https://www.livewiremarkets.com/wires/buy-hold-sell-6-bullish-calls-to-beat-the-portfolio-blues/
Note: This episode of Buy Hold Sell was shot on Wednesday 11th May 2022. You can read an edited transcript by clicking the link above.
The theory of "disruptive innovation" was introduced in the well-thumbed pages of the Harvard Business Journal in 1995 by Joseph Bower and the late Clayton Christensen.
In it, they outlined the case for classic disruption - a small enterprise targeting an overlooked proportion of the population with a new but modest offering, and gradually growing to challenge industry incumbents.
In this theory, disruption only occurs in two cases: in low-end, less profitable markets, or in completely new markets altogether. However, over the past 27 years, "disruption" has shape-shifted to become a tell-all term for a business with a heck of a lot of growth potential, usually followed in tow by a slew of imitator start-ups, and of course, industry incumbents quickly pivoting their business models to catch up.
And what could be more disruptive than decarbonisation?
So in this episode, Livewire's Ally Selby was joined by Nanuk Asset Management's Peter Wilmshurst and Pella Funds Management's Steven Glass for their thoughts on three companies that dare to disrupt incumbent industries as the world shifts to net zero.
Plus, they also each name two companies that could become global leaders in one of the world's most important megatrends over the coming three decades.
Note: This episode of Buy Hold Sell was shot on Wednesday 27th April 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-daringly-disruptive-stocks/
I
t's the geopolitical theme of the century - the fistfight between the world's greatest superpowers, China and the US.
I think we can all agree that the US won the first round. But now, with rising rates, political friction, and the very real possibility of recession the future remains rather uncertain.
But that's not to say China's a sure bet. After all, it's led by a communist government that is increasingly cracking down on some of the country's biggest monopolies. And while the modernisation and urbanisation of its economy may have spurred global growth over the past few decades, there are clear signs that this is now slowing down.
So Livewire's James Marlay was joined by Antipodes' Jacob Mitchell and Platinum's Andrew Clifford for a unique new format of Buy Hold Sell. In this episode, we asked our guests to choose between six different Chinese and American giants, but they could only buy three.
And for the investors with a penchant for global value, we asked Jacob and Andrew to name one company that they believe is a leader in its industry in for some nice returns in the future.
Note: This episode of Buy Hold Sell was shot on Wednesday 27th April 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-china-v-us
When you ask, we listen (and intently so). In December, we surveyed more than 4000 Livewire readers, and you told us there was one theme that deserved our attention - decarbonisation. And we're certainly not one to dispute the crowd.
It makes cents (literally). Serious money is flowing into renewable energy around the globe. In fact, Calastone found that ESG funds were the major beneficiaries of Australians' savings in 2021, with net new capital invested in ESG equity funds more than quadrupling year-on-year to $3 billion.
So in this episode, Livewire's Ally Selby was joined by two sustainable investment experts - Stephane Andre from Alphinity and Mike Murray from Australian Ethical - for their analysis of three ASX-listed stocks for exposure to decarbonisation.
Plus, we also asked our guests to each name one company that they think could become a decarbonisation leader over the years to come.
Note: This episode of Buy Hold Sell was shot on Wednesday 27th April 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-cracking-asx-listed-stocks-for-exposure-to-decarbonisation
Growth and the word "undervalued" don't usually appear in the same sentence. After all, much-loved growth stock Tesla still trades on a P/E of 136.37 times, while the trailing P/E of the NASDAQ 100 is currently more than 31 times.
But with an estimated forward P/E of 24.75 times, and some stocks cascading 50-70% off their highs in the recent sell-off, growth stocks may just be the perfect hunting ground for value investors.
So in this episode, Livewire's James Marlay was joined by two of the country's most respected global stockpickers - Jacob Mitchell from Antipodes and Andrew Clifford from Platinum, for their thoughts on three long-term compounders trading at stomachable valuations.
Plus, they also each name one stock with double-digit growth potential that is still trading at a compelling price.
Note: This episode of Buy Hold Sell was shot on Wednesday 27th April 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-undervalued-global-growth-stocks/
In a world of inflation and rising rates, it can be easy to focus on the short-term benefits that cyclical companies may enjoy. But megatrends, those powerful, transformative forces that change and disrupt the way our societies and economies operate, are a fantastic way for investors to get exposure to long-term growth. One such megatrend is decarbonisation, an area of the market that 62% of Livewire readers told us they would be allocating their capital to in 2022. Other megatrends that are rapidly transforming our society include the aging population, the rise of Web 3.0, and the ever-accelerating move towards digitisation and automation. Given the challenge of identifying those companies that will ultimately succeed, thematic ETFs have rapidly emerged as a popular way for investors to access these long-term opportunities. So in this episode, Livewire's Ally Selby was joined by two talented financial advisers - Felicity Thomas from Shaw and Partners and Ben Nash from Pivot Wealth - for their thoughts on five exciting themes for the next decade (and the ETFs that investors can use to play them). Note: This episode of Buy Hold Sell was shot on Wednesday 13th April 2022. You can read an edited transcript below: https://www.livewiremarkets.com/wires/buy-hold-sell-5-megatrends-and-the-etfs-to-play-them/
While it has become somewhat of a meme and investing trope that the first million is the hardest to make, there's no doubt that it is true.
In fact, the advisers featured in this episode say it can take 35 years, but you have to invest $740 a month, every month, at a 6% annual compound rate. For those with a little less spare cash (or just starting out on their investing journey), a $53 investment every week into an ASX index fund could turn into just over a million dollars in 40 years.
But that's not to say Australia isn't flush with millionaires already. According to research from Praemium, there were over 635,000 millionaires in Australia in 2021, climbing from 488,000 the year prior. Meanwhile, the Australian's annual Rich List found there are 131 billionaires in our country.
So in this thematic episode, Livewire's Ally Selby was joined by Shaw and Partners' Felicity Thomas and Pivot Wealth's Ben Nash for their thoughts on building (multi) million-dollar portfolios with ETFs.
Plus, they also share the biggest mistake they are seeing in client portfolios right now.
Note: This episode of Buy Hold Sell was shot on Wednesday 13th April 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/how-to-build-a-multi-million-dollar-portfolio-with-etfs/
While sleep - or lack thereof - was already a major talking point in Australia prior to the advent of COVID-19 (I mean, the government funded a national sleep health inquiry in 2018), things haven't exactly gotten better since.
In fact, research out of Medibank found that almost 1-in-4 Australians (or nearly 5 million people) said their sleep had been impacted by the COVID-19 pandemic in 2021.
Meanwhile, a 2021 report from Deloitte Access Economics found that poor sleep sets Australians back around $14.4 billion each year in financial costs, while knackered employees racked up productivity losses of $11 billion.
So in this episode of Buy Hold Sell, Livewire's Ally Selby was joined by two talented financial advisers - Felicity Thomas from Shaw and Partners and Ben Nash from Pivot Wealth - for their thoughts on three of the best set and forget ETFs so investors can rest easy at night.
Plus, we also asked our financial advisers to each name one ETF that they believe every single investor should have in their portfolios right now.
Note: This episode of Buy Hold Sell was shot on Wednesday 13th April 2022. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-etfs-to-help-you-sleep-at-night/
It's the finance industry's worst-kept secret. Over the long term, the majority of active managers underperform their benchmarks. In fact, SPIVA data shows that over a 10 year period, 79.82% of funds underperformed the S&P/ASX 200.
Many believe this underperformance is thanks to the proliferation of index-like funds. While others believe it is because managers are forced to invest in more stocks as funds under management grows. Then, of course, there's the matter of fees detracting from performance.
But according to a study by US-based portfolio manager and author Robert Hagstrom, a high conviction portfolio of investors' best ideas can increase one's chances of outperformance.
In fact, he found that a randomly generated portfolio of 15 stocks would generate a maximum return of 26.6% annually over a period of 10 years. For 50 stocks, this was 19.2%. Meanwhile, among the portfolios with 250 stocks, the best return possible was 16% per annum.
So in this episode, Livewire's Ally Selby was joined by Perpetual's James Rutledge and WaveStone Capital's Raaz Bhuyan - two high conviction fund managers - for their analysis of each of their two top holdings.
Plus, we also asked our fundies to analyse two market darlings that could be in for some troubled times over the months ahead.
Note: This episode of Buy Hold Sell was shot on Wednesday 30 March 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-4-top-stocks-and-2-that-have-lost-their-shine/
Not too long ago, we asked two fund managers to name some of the best management teams in the business. This was in October last year, which now, at least to us, feels like a world away.
Come to think of it, it's about time we took another look at some of the country's top leaders, so we can find the steady hands we so badly need to sail us through these stormy markets.
So why do we keep coming back to management teams? Well, a leadership team can make or break a business. Top-notch teams implement capital management initiatives, pull off surprisingly timely acquisitions and of course, build enviable company cultures.
Investors covet management teams that have "skin in the game", while passionate founders repeatedly become household names as they push their businesses (and share prices) higher.
So in this thematic episode, Livewire's Ally Selby was joined by Perpetual's James Rutledge and WaveStone Capital's Raaz Bhuyan for a look at the best management teams outside of the S&P/ASX 20.
These include talented teams across the energy, financials, retail, and technology sectors. Plus, Raaz and James also name one management team that impressed during the February reporting season, driving these fundies to take a position in these stocks.
Note: This episode of Buy Hold Sell was shot on Wednesday 30th March 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/the-best-management-teams-outside-of-the-asx-20/
Like any great football team, an investor's portfolio should feature an astute line-up of players, those for both offence and defence.
A portfolio's strikers boast growing, consistent earnings - market leaders with enviable management teams, investing in assets and services that play into long-term trends. Meanwhile, the defenders cushion your portfolio in volatile, uncertain, headwind-filled times - as we face now.
In this episode, Livewire's Ally Selby runs onto the ASX's pitch alongside WaveStone Capital's Raaz Bhuyan and Perpetual's James Rutledge for their Buy Hold Sell debuts.
Together, they analyse three long-term performers, including a lithium leader, a financial services giant, and one of Australia's best long-term growth stories. Raaz and James each consider whether these can continue to outperform in the months and years ahead.
And perhaps more importantly, the pair are tasked with helping investors avoid portfolio "own goals," assessing the potential protection afforded by Australia's biggest supermarket chain and a gold producer.
Whether you’re looking to top the league table or are happy just to avoid relegation, watch the video, listen to the podcast or read an edited transcript below.
Note: This episode of Buy Hold Sell was shot on Wednesday 30 March 2022.
Read the edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-stocks-for-offence-and-2-for-defence/
"Is there a doctor in the house? Is there a doctor in the house! Our Aussie small caps have collapsed, and we can barely feel a pulse." Oh, dear.
It does feel a little dire, doesn't it? After all, the Small Ordinaries has fallen more than 7% since the beginning of the year, far worse than the country's blue chips (a fall of around 3%). But if there is one thing we can rely on in times like these, particularly in the strong economic environment in which we find ourselves, it's dividends.
While small caps and dividends don't typically go hand in hand, these pocket rocket yielders are not as rare as you may think. In fact, if we are to go by the MVIS Australia Small-Cap Dividend Payers Index, there are 81 small caps with healthy, reoccurring dividends in our market.
So to put five of them on the operating table, Livewire's Ally Selby was joined by two accomplished stock surgeons, Hayborough Investment Partners' Ben Rundle and 1851 Capital's Martin Hickson. With more than a few buys in there today, this episode may very well be the thing that resuscitates your portfolio.
Note: This episode of Buy Hold Sell was shot on Wednesday 16th March 2022. You can read an edited transcript by clicking the link below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-small-caps-with-big-dividends-2022-03-23/
In short, no. Experts believe that while the velocity of the sell-off may be over for now, investors should brace for continued market turbulence over the year ahead. After all, many reader favourites are bleeding red in 2022 - think notable names such as Zip Co (down 62%), Life360 (down 42%) and Poseidon Nickel (down 23%). That said, there's no need to run for the exit just yet. Livewire's Ally Selby sat down with Hayborough's Ben Rundle and 1851 Capital's Martin Hickson for the small caps they are backing in this volatile environment, as well as two stocks they recommend investors steer clear of in 2022.
Note: This episode of Buy Hold Sell was shot on Wednesday 16th March 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/is-the-worst-over-for-small-caps/
Ask any investor for a small-cap tip, and they'll likely deliver one with more conviction than a soccer player begging for a free-kick. How often do they put the money where their mouth is? A safe bet would be rarely.
But when multiple experts are backing the same horse, it's probably worth taking a good look. Blue Ocean Equities recently published research into the most popular stock picks across over 40 small-cap managers based on their top holdings - sounds like a fountain of ideas to us.
So, we turned to Ben Rundle from Hayborough Investment Partners and Martin Hickson from 1851 Capital for their views on four stocks making waves across the small-cap universe - but have their valuations peaked? Our two guests also share their top picks of the year.
Aussie investors love a big dividend, and with markets taking a tumble, those dividends look super precious. The good news is that the ASX is flush with dividend opportunities after 2021 saw a record $87 billion paid to investors*. The ASX is now home to the #1 dividend-paying stock globally (hint: not a bank), and three Aussie shares feature in the top 10 dividend payers.
So, with growth on the nose, we turned to Blake Henricks from Firetrail and Michelle Lopez from abrdn for their views on four stocks that have supercharged their payouts. Our two guests also share their top dividend picks.
Click on the player below to watch the latest episode of Buy Hold Sell, brought to you by Livewire.
P.S. For all of you market wizards, Blake has thrown down a challenge to test your skills (see 1:33 – let us know in the comments).
*(Source: Janus Henderson Investors)
Note: This episode of Buy Hold Sell was shot on Tuesday 1st March 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-6-stocks-supercharging-their-dividends-in-2022/
Over the past few months, the ASX has sailed through turbulent seas, with headwinds such as rising rates, a Russian war, and now a rain bomb over the east coast of the country, sinking the bourse more than 6% since the beginning of the year.
And of course, who can forget reporting season. As Centennial Asset Management's Matthew Kidman put it, it was "explosive".
So in this episode, Firetrail Investments' Blake Henricks and abrdn's Michelle Lopez analyse some of February's best and worst results. Plus, they also share whether they are picking over the wreckage for some oversold gems (spoiler: they are).
Note: This episode of Buy Hold Sell was shot on Tuesday 1st March 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/the-best-of-reporting-season-and-some-absolute-shockers/
We did it. We survived reporting season. And what a season it was. Value stocks far outperformed growth, as the reality of rising rates became very real. Meantime, financials lifted on these very same fears, while commodity-related miners also soared, pushed higher by the Russian invasion of Ukrainian.
But on an idiosyncratic level, there were a number of surprises that delivered on the upside. Think Treasury Wines, which somehow redistributed its fine bottles of plonk despite losing business in China, or wealth platform HUB24, which managed to shoot the lights out when its competitors disappointed. And who can forget new market entrant Endeavour Group (and a recent Woolworths demerger), which was bid up more than 10% following its surprisingly smashing result.
In this episode, Centennial Asset Management's Matthew Kidman was joined by abrdn's Michelle Lopez and Firetrail Investments' Blake Henricks for their thoughts on these three high-quality results.
Plus, for good measure, we also asked them to name one stock that massively disappointed this February reporting season. You won't want to miss this one.
Note: This episode of Buy Hold Sell was shot on Tuesday 1st March 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-quality-results-and-2-that-disappointed/
Ah, growth stocks. The darlings turned duds of the market. Would these long-term compounders have fallen out of favour with investors if it had not been for dreaded market kryptonite, or as the experts call it, inflation? Likely not.
That said. Inflation is very much real. And rates are very much rising. Subsequently, over the past six months, local high-PE indices like the S&P/ASX All Technology Index and the S&P/ASX 200 Health Care Index have fallen approximately 27% and 15%. Yikes.
But on a stock by stock level, particularly among investor favourites, losses have been far, far worse. Look as far as buy-now-pay-later darlings, like Zip Co and Afterpay (now Square), which have seen their share prices plummet. Or healthcare staples Resmed and CSL, also deeply in the red.
So as a wise Justin Timberlake once said, in this episode, we are "bringing sexy back" to growth stocks.
Livewire's James Marlay was joined by Monash Investors' Shane Fitzgerald and WILSONS' John Lockton for their analysis of three sustainable growers.
Plus, they also each name one stock with long-term compounding potential that looks attractively priced today.
Note: This episode of Buy Hold Sell was shot on Wednesday 16th February 2022. You can watch read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-long-term-compounders/
In our recent reader survey conducted at the end of 2021, investors just like you (and perhaps, even you yourself), told us that inflation was their number one concern for markets in 2022.
In fact, ABS research shows that easing COVID-19 restrictions have resulted in the largest increase in fuel prices in 30 years, while supply chain challenges continue to weigh heavily on various parts of the market.
Think anything from technology, which has seen its benchmark plummet more than 25% since mid-November, to food and domestic goods, which have both seen prices skyrocket (it may surprise some to learn that butchers and restaurants are seeing up to 30% price increases for prime cuts of beef).
So how can you turn this inflationary headwind into a tailwind for your portfolio? Glad you asked.
In this episode, Livewire's James Marlay was joined by Monash Investors' Shane Fitzgerald and WILSONS' John Lockton for a deep dive on inflation. They discuss everything from how concerned you actually should be about what some dub the market's kryptonite, to the sectors and stocks that could actually benefit from inflation over the months to come.
Note: This episode of Buy Hold Sell was shot on Wednesday 16th February 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/how-to-turn-the-inflation-headwind-into-a-tailwind/
The S&P/ASX 200 has lifted nearly 5% in February after what was irrefutably a disastrous start to 2022, with stocks small and large smashing expectations to drive the benchmark higher.
So in this episode, Livewire's James Marlay was joined in the studio for the first time this year by Shane Fitzgerald from Monash Investors and John Lockton from WILSONS for their analysis of three stocks that crushed expectations.
Plus, they also name a company that released a stellar first-half earnings result that was underappreciated by the market so you can add it to your watch list.
Note: This episode of Buy Hold Sell was shot on Wednesday 16th February 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-stocks-that-smashed-expectations-and-2-the-market-missed/
It was 18th-century British banker and politician Baron Rothschild who famously said investors should "buy when there’s blood in the streets, even if the blood is your own."
In plain English, when everyone is selling - and much of the Index is in the red - can be a great time to be buying shares at a bargain.
And while the laws of behavioural economics, particularly herd mentality, suggest this may be easier said than done, purchasing stocks at a lower price is well documented to increase the potential for future returns.
So in this episode, Livewire's Ally Selby was joined by Elston Asset Management's Bruce Williams and Investors Mutual Limited's Simon Conn for their analysis of four of the S&P/ASX 200's most beaten-down stocks in 2022.
Plus, our fundies also share two stocks that have been caught up in the recent sell-off that they believe are poised for a rebound over the year ahead.
Note: This episode of Buy Hold Sell was shot on Wednesday 2nd January 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-6-beaten-down-stocks-ready-for-a-rebound/
COVID-19 was (and is) irrefutably a curse to the global society, but as it would turn out, it also became a blessing to many investors' portfolios.
Who can forget the great rotation opportunities presented to investors over the past two years? For starters, there was the rotation into "stay at home" winners, with growth and tech stocks taking the lion's share of the world's investible dollars.
Then, as we all know, the "reopening play" took centre stage, with many of the beaten-down stocks from the first few months of the pandemic enjoying their time in the spotlight.
After that, there was a rotation into the "inflation beneficiaries" and a rotation out of tech. And now, what can only be described as genuine market panic, as investors rush to sell down stocks in anticipation of rising rates.
So are rotation opportunities still alive and well in 2022, despite the volatility that we can only assume awaits? Our investing pros certainly think so (phew!).
In this episode, Livewire's Ally Selby was joined by Elston Asset Management's Bruce Williams and Investors Mutual Limited's Simon Conn for a deeper look at their portfolio positioning over the year ahead.
They'll share the sectors they are avoiding, the sectors they are overweight, and of course, a few stocks that have caught their attention as potential winners over the months to come.
Note: This episode of Buy Hold Sell was shot on Wednesday 2nd January 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/how-to-rotate-your-portfolio-like-a-pro-in-2022
2022 has started off with a bang, and not in the way investors would have hoped. The S&P/ASX 200 has fallen around 7% since the beginning of the year, while the Small Ordinaries has dropped more than 9%.
So in this episode, Livewire's Ally Selby was joined by IML's Simon Conn and Elston's Bruce Williams for their analysis of three all-star Aussie companies that could help investors navigate the volatility ahead, including Cochlear, Nine Entertainment and Seek.
And for an added bonus, we asked them to select one stock that they each believe can help investors sail through the stormy seas of 2022.
Note: This episode of Buy Hold Sell was shot on Wednesday 2nd January 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-for-weathering-stormy-markets/
Investing in global stocks opens up a world of opportunities, literally. For instance, the MSCI World Index returned an impressive 22.35% last year, while your top 10 global stock picks for 2021 pulled in a respectable 14.59% (outperforming both your Aussie large and small-cap favourites, and by a long shot).
Our readers aren't sticklers for change, it seems. Only Disney and NIO fell out of favour with investors this year, replaced by semiconductor companies Nvidia and ASML.
But they say if it ain't broke, don't fix it. After all, most of these stocks have enormous market caps, and they grew that large for a reason.
In this episode, Livewire's David Thornton makes his Buy Hold Sell debut alongside Alphinity Investment Management's Mary Manning and T. Rowe Price's Sam Ruiz. They analyse the hottest global stocks of 2022, and also share how they are positioning their portfolios to take advantage of the major thematic you said you would be allocating to over the year ahead; decarbonisation.
Note: This episode of Buy Hold Sell was shot on Monday 24 January 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-the-hottest-global-stocks-for-2022/
It's no secret Livewire readers love small caps. That said, your most-tipped smalls for 2021 took quite the tumble. These reader favourites fell 14% in a year when the benchmark, the S&P/ASX Small Ordinaries, lifted 12.75%.
This year, however, your list is uncharacteristically resources heavy. In fact, four out of your ten picks sit squarely in that sector. And with interest rates on the rise, and battery materials going from strength to strength, you could be onto a handful of winners.
In this blockbuster episode, Livewire's Ally Selby was joined by two all-star long-short managers, John Deniz from Paragon Funds Management and Josh Clark from QVG Capital. Our two fundies lend their expertise to your 10 favourite small-cap stocks, and open up about some of the major changes they have made to their portfolios in 2022.
Plus, will Bitcoin or Aussie housing outperform over the year ahead? You'll just have to watch to the end to find out.
Note: This episode of Buy Hold Sell was shot on Monday 24th January 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-your-most-tipped-small-caps/
Welcome back to Buy Hold Sell for 2022. We've missed every single one of you. And what better way to kick off the very first episode of the year, than to take a look at what matters most to Livewire readers - your top-tipped stocks for the year ahead.
There's some big names in there (with even bigger market caps) - think the country's best financial players, like Macquarie Group and Westpac, as well as resources and mining giants BHP, Fortescue Metals Group, Mineral Resources, Pilbara Minerals, and Woodside.
Gambling giant Aristocrat Leisure and Australia's favourite retail conglomerate Wesfarmers also made the list (who doesn't love Bunnings' bangers?). And of course, your top-tipped stocks wouldn't be complete without reader favourite and biotech darling CSL.
Livewire's very own James Marlay was joined by Prime Value's ST Wong and Airlie Funds' Matt Williams for this cracker of an episode to welcome in the new year. Our fundies analyse your favourite stocks for the year ahead and outline a few big picture ideas to help you navigate the volatile market environment in 2022.
Plus, will Bitcoin or the Aussie housing market outperform over the 12 months ahead? You won't want to miss this one.
Note: This episode of Buy Hold Sell was shot on Wednesday 19th January 2022. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-your-most-tipped-large-caps/
They say there is nothing more expensive than something free, and the same could be said of the stimulus that we have enjoyed over the months and years living through the pandemic.
While markets around the world have skyrocketed from the lows of the COVID crash, so too has global debt - now at a staggering US$296 trillion according to The Institute of International Finance (or 353% of GDP), US$36 trillion higher than levels seen prior to the pandemic.
And with US banks already expecting the Federal Reserve to announce four interest rate hikes in a bid to stymie inflation in 2022, investors would be wise to brace for increased volatility over the months ahead.
So as part of our Outlook Series, we spoke to nine of Sydney's best fund managers for the stocks they would buy in the case of market weakness. These include some of Australia's highest-quality tech legends, as well as a handful of global stalwarts currently trading too high.
You can read an edited transcript or watch a video below:
https://www.livewiremarkets.com/wires/8-of-the-best-stocks-to-buy-in-a-sell-off/
Investors are always at risk of losing sight of the big picture. It's easy to become preoccupied with distracting detail at the expense of good judgement.
This can pay off every now and again – broken clocks tell the time twice a day, as the saying goes - but it doesn’t constitute intelligent investing over the long term.
In other words: don’t take shortcuts when investing. This is especially the case now. High valuations, the prospect of inflation, and rising interest rates mean that winners may be increasingly difficult to come by.
Our fund managers’ investing tips for 2022 cover the investing habits that will avoid shortcuts.
Doing due diligence and fundamental analysis are two of the many tips you’ll find in this wire. “Numbers over narrative,” as Talaria Asset Management founder Chad Padowitz puts it.
You can read an edited transcript below or watch the video:
https://www.livewiremarkets.com/wires/want-to-level-up-your-investing-9-fundies-share-how/
When it comes to predictions, there are two types of articles that you'll find. The first type is where people put their minds to what might lie ahead, assess the prevailing conditions, and make a call on what they think will happen. They do so often against their will and with full knowledge that there is an even chance they'll get it wrong. But it is a bit of fun, and it gets the grey matter going.
The other type of article lectures us about how the evidence shows that making predictions is a mug's game. Today, we're going to assume you've read one of these lectures and move on to the fun stuff, thanks to the nine fundies who have given us their bold predictions for 2022.
Interest rates and inflation dominate the views of our guests and remain significant points of disagreement. They've also got their eyes on deflating bubbles in speculative investments, there's a contrarian view on why markets have years of clear skies ahead, and someone reckons the Wallabies will win the Bledisloe Cup!
In behavioural finance, herd mentality refers to investors' tendency to follow the decisions of "the crowd". Throwing their own independent analysis to the wind, these investors bet their hard-earned savings on the "next big thing" capturing the market's attention.
From profitless growth stocks with frightening valuations, pumped-up retailers, reopening trades and of course, US tech, the danger for investors is that these so-called consensus trades can get crowded, overheat, and melt away to nothing.
So, in this podcast, we asked eight expert fund managers to tell us about the crowded trades they believe could run out of steam in 2022. To read a transcript, click the link below:
https://www.livewiremarkets.com/wires/the-crowded-trades-to-avoid-in-2022/
Well, folks, it's the moment you've been waiting for. We've scoured Australia for the country's finest fund managers, who in this video, will share their highest-conviction call for the year ahead. And this year, we've pulled out the big guns.
For the first time, we've headed down to Melbourne to speak to top-performing fundies like global growth stock picker Nick Griffin and Aussie value investor Richard Ivers. And, of course, we sat down with some of Sydney's best portfolio managers as well (including the top-performing stock pickers from 2021).
A quick look at previous year's picks shows our fundies' favourite stocks reward close attention. In 2021, our 10 fundies picks delivered a total return of 45.14% (when viewed as an equal-weighted portfolio), beating the S&P/ASX All Ordinaries and MSCI World Index's returns of 10.93% and 18.43% respectively year to date.
I know, I know - 2021 was a good year. However, during tumultuous 2020, our fundies picks managed to generate a return of 13.88%, beating the benchmark by a whopping 10.26%.
Meantime, in 2019, our fundies selections roared to deliver a total return of 59% (an outperformance of 35.86%).
If you would prefer to read a transcript, or watch a video, check out the link below:
https://www.livewiremarkets.com/wires/the-1-stock-picks-for-2022
Our featured experts include:
- Anthony Aboud, Perpetual Asset Management
- Chad Padowitz, Talaria Asset Management
- Eleanor Swanson, Firetrail Investments
- Nick Griffin, Munro Partners
- Simon Shields, Monash Investors
- Richard Ivers, Prime Value Asset Management
- David Moberley, Paradice Investment Management
- Mark Landau, L1 Capital
- Hamish Carlisle, Merlon Capital
- Adrian Martuccio, Bell Asset Management
- Bob Desmond, Claremont Global
- Dean Fergie, Cyan Investment Management
- Matthew Kidman, Centennial Asset Management
- Nick Pashias, Antares Equities
- Steve Johnson, Forager Funds
- Steve Black, Pengana Capital Group
- Chris Demasi, Montaka Global Investments
- Michael Steele, Yarra Capital Management
2021 was undoubtedly a year for the bulls. If you were fully invested in the S&P 500 on January 1st, you made a very handy return of almost 22%. And remember - that’s after having already recovered the losses of 2020.
2022 will be more of the same according to most of our fundies.
Of the nine we interviewed, five were bullish and three were bearish.
The arithmetic "quickdraws" among you will realise that this only adds up to eight. Chad Padowitz’s call snuck through to the keeper. He sounds bearish but we'll let you decide. We’ll be sure to hold you to a call next year, Chad.
You can read or watch the video below:
https://www.livewiremarkets.com/wires/the-5-bulls-and-3-bears-you-ll-meet-in-2022
With the S&P 500 and the S&P/ASX 200 racing ahead approximately 27% and 10% in 2021, it's fair to say investors have had a surprisingly good year. Despite the ups and downs of COVID-19 (of which we are still suffering through now), lockdowns, and border closures, if investors were fully invested, they would have walked away with truly impressive returns over the past 12 months.
That said, there are always some positions that hurt more than others, which cause both headache and heartache as we watch their share prices fall lower and lower.
And while it's easier said than done to cut your losses, as revealed in this video, it can sometimes pay to stay convicted in a poorly performing position.
As part of our annual Outlook Series, we took it to nine of Australia's most respected fund managers to share their worst trade of 2021. From companies that saw their share prices halve during the year, to calamity over a capital raising, an IPO gone wrong and an opportunity forgone, our Sydney-based fundies candidly reveal the painful positions (or lack thereof) that kept them up at night during the 12 months just past.
Plus, they share the lessons they took away from these headaches so you can better invest in 2022.
Our featured experts include:
- Simon Shields, Monash Investors
- Eleanor Swanson, Firetrail Investments
- Steve Johnson, Forager Funds
- David Moberley, Paradice Investment Management
- Hamish Carlisle, Merlon Capital Partners
- Chris Demasi, Montaka Global Investments
- Bob Desmond, Claremont Global
- Anthony Aboud, Perpetual Asset Management
- Matthew Kidman, Centennial Asset Management
Just like Tim Paine for cricket fans, La Niña ruining Summer plans, or the new Home Alone reboot (or as some people call it, a colossal waste of time), the S&P/ASX 200 has had a handful of disappointments (or dogs, if we are being honest) in 2021.
Every portfolio has at least one - or a few - and even the professionals will make some bad calls. But with the Index racing around 10% ahead since the beginning of 2021 (despite inflationary fears, lockdowns and new COVID variants), there has also been a fair share of darlings.
So in this end of year special, Livewire's James Marlay is joined by Tribeca Investment Partners' Jun Bei Liu and Market Matters' James Gerrish for their take on the highs and lows of 2021.
Plus, they also point to the headwinds and tailwinds investors should look out for over the year ahead, as well as a few winning stocks that could soar in 2022.
Note: This episode of Buy Hold Sell was shot on Tuesday 7th December 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/the-dogs-and-darlings-of-2021-and-the-stocks-to-watch-in-2022/
In exactly two weeks, 2021 will be behind us. And what a year it has been. New lockdowns, new COVID strains, and an ever-volatile market that continues to push higher.
As with every new year, comes the lauded tradition of resolutions (New Year, new you - right?). Whether it's continuing on with the good work you put in in 2021 (like investing each month or finally making use of that gym membership), changing that undesirable habit (like, ahem, a pledge to stop ordering Uber Eats), or finally taking a holiday in 2022.
Just like us, some of our local listed stocks have sparkling plans for the New Year. Think mergers and acquisitions, new product launches, and new CEOs - set to help these Aussie stocks soar over the year ahead.
So in the final episode of Buy Hold Sell for the year, we invited Tribeca Investment Partners' Jun Bei Liu and Market Matters' James Gerrish to share their thoughts on three businesses with big plans for 2022.
And just because we can't bear to leave you all in 2021 without a stock pick, Jun Bei and James name two winning stocks with big plans for the year ahead.
Thanks for watching Buy Hold Sell this year, we hope you enjoyed it as much as we did.
Note: This episode of Buy Hold Sell was shot on Tuesday 7th December 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-with-sparkling-new-year-s-resolutions/
It's beginning to look a lot like Christmas. Fairy lights are out in force, sky-high pine trees adorn every office, and Australian's are out painting the town a festive shade of red.
And while we have suffered through a touch of volatility over the past few weeks (thanks to a new COVID-variant), December, as it has in previous years, has started out with a bang.
The S&P/ASX 200 has lifted nearly 2% over the past week. But there are still some stocks that could rally further as we head into the New Year and beyond. These include Tyro Payments and Harvey Norman, both of which could benefit from the annual Christmas rush, as well as Qantas Airways - whose planes are already taking off (both domestically and internationally) while its share price stalls.
In this Christmas special, Livewire's James Marlay is joined by Tribeca's Jun Bei Liu and Market Matters' James Gerrish for their thoughts on these three beaten-down stocks. Plus, they also name two stocks that are ready for a turnaround in 2022.
Note: This episode of Buy Hold Sell was shot on Tuesday 7th December 2021. You can read to an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-christmas-specials-and-2-for-a-turnaround/
Even though the world feels like it has become increasingly divided in 2021, there have been a handful of moments that each and every one of us can celebrate. After all, we finally freed Britney, the Toyko Olympics didn't let Delta rain on its parade, and Australian businesses have survived more lockdowns than we would have liked and come out on the other side bigger and better than ever.
In fact, there have been 153 initial public offerings on the ASX this year, up from just 67 in 2020. That's an increase of more than 153%. And in case you thought 2020 may have just not been a great year for IPOs - it was the year "coronavirus" became a household name, after all - there were 64 in 2019 (according to IPO watch).
That said, only a handful of this year's IPOs have caused a media frenzy and captured the public's attention. So in this episode, Livewire's Ally Selby is joined by Ausbil Investment Management's Arden Jennings and Wilson Asset Management's Tobias Yao for their thoughts on three of 2021's most anticipated IPOs.
Plus, with 2022 only four weeks away (we did it!), they share two for you to look out for over the year ahead.
Note: This episode was filmed on Wednesday, 24th November 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-this-year-s-hottest-ipos-and-2-to-look-forward-to
Is it just us, or is global domination perhaps easier than Hollywood villains would have us think?
Over the past few months, Squid Game has taken over the world. Meantime, every man and his neighbour can now tell you the total addressable market of Tesla (without being invited, I might add). And what's more - and I don't know where they are breeding them - but lately, it seems like there are more real estate agents popping up down under than homes themselves.
While we are on this train of thought, we have also witnessed a never-ending number of local micro and small caps expanding overseas in recent times, with companies encouraged to take an international risk in their quest for growth. And investors, also hungry for growth, can't get enough of them.
So in this episode, Livewire's Ally Selby was joined by Wilson Asset Management's Tobias Yao and Ausbil Investment Management's Arden Jennings for their insight into identifying these local growers.
In the process, they identify eight stocks on their radars, as well as two they believe can kill it on the global stage over the year to come.
Note: This episode was filmed on Wednesday, 24th November 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/the-aussie-small-and-micro-caps-taking-over-the-world/
Small caps have had a cracker of a year, with the S&P/ASX Small Ordinaries rising 19% over the past 12 months, including dividends. Meanwhile, the stocks outside of the ASX 300 - the mighty micro caps - have generated a whopping total return of 45% (tracked by the S&P/ASX Emerging Companies Index).
So why not dust off that crystal ball, gaze into the future, and see what the year ahead has in store for the smaller end of the market?
In this episode, Livewire's Ally Selby is joined by Wilson Asset Management's Tobias Yao and Ausbil's Arden Jennings for their thoughts on three stocks that could soar in 2022. These include reopening play Lovisa, accomplished Australian businessman David Teoh's TPG Singapore, and reader favourite Electric Optic Systems.
Plus, for good measure, we asked our fundies to name the number one stock they are backing for the year ahead.
What more could you want?
Note: This episode was filmed on Wednesday, 24th November 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-set-to-soar-in-2022/
In a world of cheap debt, where money seems to continue to be thrown at the next big thing (like these "Bored Ape" NFTs, for example), it's easy to forget about the importance of resilient cash flows.
Cash flows provide crucial information about a company, demonstrating the movement of money in and out of your favourite stock - and helping you to analyse whether a company is actually financially healthy or could face some trouble in the months (and years) ahead.
In the current inflationary environment, where rates are expected to rise by 2023 (or 2022, according to some economists), we thought it would be worthwhile to take a look at some of the ASX's best companies with resilient cash flows. These stocks, with quality assets, are likely to withstand any change in the market environment, unlike stocks that still haven't turned a profit and yet trade at sky-high valuations.
In this episode, Livewire's Ally Selby is joined by Rhett Kessler from Pengana and Stuart Welch from Alphinity to discuss three of these quality stocks. Plus, they also name two stocks that they believe can continue to deliver earnings upgrades in an inflationary environment.
Note: This episode was filmed on Wednesday, 10 November 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-with-resilient-cash-flows/
Just like Tesla's share price, helium-filled balloons, or my editor's blood pressure when I write these wires, sometimes things just rise. It's inevitable.
Rates, on the other hand, have been on a downhill trajectory for a good 30 years. Now, it seems that they too may be on the way up.
In fact, the RBA recently dropped its reference to rates rising "not before 2024", with economists around the country now forecasting that rates could get a hike far, far sooner (some have predicted that cash rates could rise in November 2022).
So in this thematic episode, Livewire's Ally Selby is joined by Stuart Welch from Alphinity and Rhett Kessler from Pengana for their thoughts on the stocks you should be buying (and avoiding) in this environment.
Plus, they also name two stocks that can benefit from inflationary tailwinds over the months and years to come.
Note: This episode was filmed on Wednesday, 10 November 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/which-stocks-to-own-as-rates-rise-and-2-fundie-favourites/
With only seven weeks left of 2021, Australians have much to look forward to.
Flowing food and drinks at work Christmas parties, another New Year's night to remember (or forget), a well-deserved break after this hell of a year, and of course, for the lucky few, an annual salary bump.
So in this episode, we're taking a look at some of the companies with Australia's highest-paid CEOs to see if their shareholders were rewarded too.
While many Australian chief executives didn't take home a bonus in FY20, the value of their annual salaries and vested equity interests are sure to turn investors an enviable shade of green.
According to the Australian Council of Superannuation Investors, CSL's Paul Perreault enjoyed a realised pay of more than $43 million during the financial year. Similarly, Macquarie Group CEO Shemara Wikramanayake, Woolworths CEO Brad Banducci and former Ansell CEO Magnus Nicolin received handsome paychecks.
Livewire's Ally Selby is joined by Pengana's Rhett Kessler and Alphinity's Stuart Welch for these fundies thoughts on the future prospects of these burgeoning businesses. And spoiler alert, two stocks, in particular, have caught both of our fundies their attention.
Note: This episode was filmed on Wednesday, 10 November 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-4-stocks-with-australia-s-highest-paid-ceos/
It's certainly a poignant time to be talking about energy. After all, the world's leaders, including Prime Minister Scott Morrison, are currently going head to head in Glasgow, Scotland, fighting to meet the Paris Agreement.
Joined by scientists, academics, and activists, some real decisions on climate action will be made over the coming days, covering everything from limiting emissions and deforestation, to cutting coal (or not, in Australia's case), future sources of energy, and electric cars.
But even before this week's COP26 Climate Change Conference, companies associated with the energy transition were looking particularly positive to Australia's investors, with many charging ahead over the last 18 months.
So in this episode of Buy Hold Sell, Livewire's Ally Selby was joined by Argonaut's David Franklyn and Eley Griffiths Groups' Tim Serjeant for their thoughts on three stocks for the energy transition.
Plus, they both name their number one pick from the sector for the months to come.
Note: This episode was filmed on Wednesday, 27 October, 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-for-the-energy-transition/
A pinch of proven management, a dash of project location and a teaspoon of great assets are just three of the essential elements that go towards making a successful resources small-cap company. But there are others, and seldom has it been more timely to dig into the sector and find out what they are.
After all, resources have been on a tear recently. Consider two of the firms mentioned in the last episode of Buy Hold Sell. Pilbara Minerals (ASX: PLS) has risen 464% in the past year, while Aeris Resources (ASX: AIS) has jumped 167%.
But then this cyclical and capital-intensive sector is also prone to dramatic peaks and troughs. For this reason, it's important for investors to be able to recognise the signposts, macro and micro, that signal just where we are in the cycle.
In this thematic episode of Buy Hold Sell, Livewire's Ally Selby is joined by two small-cap resources specialists, Eley Griffiths Group's Tim Serjeant and Argonaut's David Franklyn who share their insights into when to buy, and the ideal combination of ingredients that make a resource company successful enough to reward your investment.
Note: This episode was filmed on Wednesday, 27 October 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/4-winning-resources-small-caps-and-what-it-takes-to-make-them
If Livewire Markets were an exclusive club, its members (as you well know), would be partial to stock picks, fund manager insights, and getting rich(er) without having to die trying. However, it seems, particularly of late, that emerging resources, metals and material stocks have a certain je ne sais quoi to whet your appetite.
It makes sense. After all, the S&P/ASX Small Ordinaries Resources Index has returned 42.25% over the past 12 months, nearly double the S&P/ASX Small Ordinaries Index (24.96%) and the S&P/ASX 200 (22.49%). In case you were wondering, the benchmark return also far surpassed that of the S&P/ASX 200 Resources Index (9.39%), which contains dividend darlings like Fortescue Metals and BHP.
So in this episode of Buy Hold Sell, Livewire's Ally Selby is joined by two small-cap resources specialists for their insight into some of the sector's up and comers, with Eley Griffiths Group's Tim Serjeant and Argonaut's David Franklyn sharing their thoughts on skyrocketing stocks across lithium, gold, copper and uranium.
Note: This episode was filmed on Wednesday, 27 October 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-up-and-coming-mining-stocks/
While large caps usually get all the attention from dividend seekers, small caps often punch above their weight in this respect. In fact, the three stocks named below have paid out an average 6.2% yield (including franking credits) over the last 12 months!
In this episode, Livewire's James Marlay is joined by Montgomery Investment Management's Roger Montgomery and Investors Mutual Limited's Simon Conn for their analysis of three small-cap stocks that also boast impressive dividends.
These include reader favourite Fiducian Group (ASX: FID), administration services provider Smartgroup Corporation (ASX: SIQ) and real estate investment trust Charter Hall Retail REIT (ASX: CQR).
If that's not enough, our fundies also each name a small-cap with big dividend potential in the years to come.
Now that's what I call bang for your buck.
Note: This episode was filmed on Wednesday 13th October 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-small-caps-with-big-dividends
We are often told that a management team can make or break a business. It's why industry jargon like "skin in the game" has become so renowned, and why investors idolise companies that are founder-led.
In fact, recent research from Reuters found that founder-led companies materially outperformed those led by "suits". Founder-led tech firms, in particular, saw earnings growth of around 30% over the past five years, while companies led by recruited managers saw their earnings rise approximately 6.7%.
So in this thematic episode of Buy Hold Sell, Livewire's James Marlay is joined by Montgomery Investment Management's Roger Montgomery and Investors Mutual Limited's Simon Conn for a look at the best management teams across the ASX.
Our fundies will point to their favourite management teams (and outline why) across financials, energy and resources, retail, technology and healthcare. Plus, they also highlight the common attributes of killer management teams and boards so you can identify them yourself.
Note: This episode was filmed on Wednesday 13th October 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/10-of-the-asx-s-best-management-teams/
Over the past 18 months, Australians have faced an onslaught of truly biblical proportions. One after the other, fires, floods and a literal plague have ravaged this place we call home. And yet, despite this tireless tyranny, our companies fought back, with earnings surprisingly upbeat at the beginning of this year.
In the face of recent lockdowns, however, Macquarie found that only 20% of the ASX300 upgraded their earnings growth estimates for FY22. Meantime, around 48% of the market was flat, and 33% downgraded their earnings estimates for the year ahead.
So in this episode of Buy Hold Sell, we've invited Investors Mutual's Simon Conn and Montgomery Investment Management's Roger Montgomery to share their thoughts on three companies that have plenty of earnings growth potential. These include Australian Clinical Labs, MNF Group, and Ingenia Communities.
Plus, they'll also name two stocks that could surprise the market with upgrades in the months to come.
Note: This episode was filmed on Wednesday 13th October 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-in-an-upgrade-cycle-2021-10-14/
One widely cited investment statistic is that 90% of portfolio performance comes from asset allocation. The stat originates from a 1986 research paper, Determinants of Portfolio Performance, which asserts that asset allocation trumps security selection and market timing when it comes to portfolio returns.
So, in this special Income Series episode of Buy Hold Sell we draw on the asset allocation prowess of Charlie Viola from Pitcher Partners and Hugh Robertson from Centaur Financial.
Charlie and Hugh share their views on three asset classes Livewire readers are adding to their portfolios in the year ahead. These award-winning advisers also nominate five of their preferred funds and ETFs for gaining exposure to these asset classes.
Plus, we hear about two areas of investment they are choosing to avoid right now.
Note: This episode was filmed on Wednesday 22 September 2021. You can read an edited transcript here:
https://www.livewiremarkets.com/wires/buy-hold-sell-3-essential-asset-classes-and-2-to-avoid
It's easy to be wowed by the massive changes our ancestors experienced — aeroplanes, electricity, the shoelace — and underestimate the ones we ourselves are living through.
So get ready to dive in my friends, because as this week's Buy Hold Sell shows, we're absolutely swimming in innovation. And the pace of change is ramping up too.
From a company pioneering a new type of audience interaction in videos, to a full-service financial firm for cryptocurrencies, and a global behemoth that specialises in making "dreams come true".
Livewire's Ally Selby sits down with Heath Behncke from Holon and Michael Frazis from Frazis Capital to sift through some of today's biggest and brightest innovators.
Plus, we also asked them to bring along a global powerhouse whose value hasn't been truly recognised by the market. What more could you want?
Note: This episode was filmed on Wednesday 29th September 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-innovative-growth-stocks/
100 baggers are few and far between. The stories of these stocks' success inspire investors' the world over, and keep them coming back to uncover the rare gems of the market time and time again.
These exponential growth stocks can return $100 for every $1 invested, turning a $1000 investment into $100,000, a $10,000 investment into $1 million or a $100,000 investment into $10 million.
Afterpay, for example, was listed on the ASX in May 2016 for $1.00 per share. Just over four years later, and the buy-now-pay-later darling hit 100 bagger status.
This quick trip to the "moon" is actually quite rare. In fact, Christopher Mayer, author of 100 Baggers: Stocks that Return 100-to-1 and How to Find Them, found that it can take an average of 26 years for a stock to become a 100-bagger - meaning, these investments can make you rich over the long term, but they are certainly not a "get rich quick" scheme.
So in this thematic episode of Buy Hold Sell, Livewire's Ally Selby is joined by Frazis Capital's Michael Frazis and Holon Global Investments' Heath Behncke for their insight into finding exponential growth stocks.
We discuss the metrics they use to analyse the global universe of opportunities, three essential characteristics of 100 baggers, as well as their highest conviction holdings right now.
Note: This episode was filmed on Wednesday 29th September 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/how-to-find-the-next-100-bagger/
You may not bet billions on stocks like Buffett, or be hard as (Cathie) Wood to ride the Tesla rollercoaster, but these global investors sure know a thing or two when it comes to picking stocks.
While Berkshire Hathaway existed long before Buffett, it was taken over by the Oracle of Omaha in 1964. Since 1965, the company has produced an annual return of 20%, compared to the S&P 500's 10.2% (as of the end of 2020). Meantime, Wood's ARK Innovation ETF has generated annualised returns of more than 34% (as of the end of June 2021)
However, as has been well documented by the press, both Buffett and Wood have underperformed of late. As a wise investor once told me, even the world's best can have their bad days (or years).
In this episode of Buy Hold Sell, we invited Frazis Capital's Michael Frazis and Holon Global Investments Heath Behncke to put these global investment leaders' top stocks on the chopping block.
And there is certainly no denying the investor (and their picks) which they prefer.
Note: This episode was filmed on Wednesday 29th September 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-6-of-warren-buffett-and-cathie-wood-s-top-stocks/
While Elon Musk may have not been able to build a bulletproof car, with the help of the award-winning financial advisers in this episode of Buy Hold Sell, you can build a bulletproof income portfolio.
As part of our annual Income Series, we've invited Centaur's Hugh Robertson and Pitcher Partners' Charlie Viola onto the show to help set you up for retirement.
They discuss everything from why ASFA's estimated figure for retirement ($640,000 for couples) should be taken with a grain of salt, two tips that can have a major impact on maximising your nest egg, as well as the common mistakes they often see among their clients.
Plus, they also bring along their ultimate portfolio for income. And surprisingly, equities continue to play a huge part (around 50-60% of your portfolio, to be exact).
Note: This episode was filmed on Wednesday 22nd September 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/how-to-build-a-bulletproof-income-portfolio-2021-09-29/
Warren Buffett once said that "if you don't find a way to make money in your sleep, you will work until you die".
While some may find this crude, this haunting, if not stark, awakening from the Oracle of Omaha champions the virtues of generating a passive income stream from investing. And, if I don't say so myself, it's even more relevant today in the ultra-low interest rate environment in which we find ourselves.
So, in this special Income Series edition of Buy Hold Sell, we invited Pitcher Partners Charlie Viola and Centaur Financial Services Hugh Robertson - both award-winning financial advisers - to share their thoughts on five cracking ASX-listed ETFs and one REIT for your income portfolio.
These include staples such as the Vanguard Australian Shares ETF and income favourites like the SPDR MSCI Australia Select High Dividend Yield ETF and the BetaShares Australian Investment Grade Corporate Bond ETF.
And while our master financial advisers don't agree on all the ASX-listed products discussed in this episode, there are two, in particular, that have them screaming buy.
Note: This episode was filmed on Wednesday 22nd September 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-6-cracking-asx-listed-income-funds/
The wild world of small caps has enamoured investors and punters alike since the dawn of time. Case in point, if a friend asked you to name your best stock pick, I'm almost certain they don't want to hear about BHP - they are after a small-cap.
These companies excite investors because their size means that they can grow multiples faster than their big cap cousins, and the lack of media coverage makes sorting through the company reports and Livewire articles all the more worth it when you find that gem. So to ease up your search, we brought in the experts.
In this episode of Buy Hold Sell, Ally Selby is joined by Nathan Hughes from Perpetual and Mike Murray from Australian Ethical. The trio discuss four small caps on the rise, including Integral Diagnostics, Nitro Software, PEXA and Blackmores.
And to top it all off, our fundies have each brought along one small-cap with big potential.
Note: This episode was filmed on Wednesday 15th September 2021. You can read a transcribed version below:
https://www.livewiremarkets.com/wires/buy-hold-sell-6-small-caps-on-the-rise/
It's fair to say there is something truly exhilarating about investing in a winning small-cap. And over the past 12 months, the ASX has produced a considerable few.
Battery material producers like Pilbara Minerals (ASX: PLS) and Chalice Mining (ASX: CHN) completely shot the lights out, while cancer therapy companies Imugene (ASX: IMU) and Race Oncology (ASX: RAC) similarly impressed. Meantime, the S&P/ASX Small Ordinaries has lifted 27.3% over the past year, and 12% in 2021 alone.
In our latest Buy Hold Sell thematic, Perpetual's Nathan Hughes and Australian Ethical's Mike Murray join Livewire's Ally Selby as they sift the local small-cap sector and open their stock selection playbooks.
Nathan points to decarbonisation plays like copper as a sector that has him excited, as well as some of the more mature retailers as an area of opportunity. However, it's healthcare and tech that really revs Mike's engine.
If that's not enough, our fundies also provide you with some helpful tips on sorting the duds from the darlings within the small-cap arena, including the red flags they believe you should watch out for. Plus, they also name two companies each that are capable of becoming the champions of the ASX over the years to come.
Note: This episode was filmed on Wednesday 15th September 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/how-to-uncover-the-next-small-cap-champions/
Wasn’t the reopening trade a 2020 thing? Perhaps for some, but not so for us down here in the Lucky Country.
With mid-October flagged as the reopening date, the anticipation is palpable. And no wonder! Melbourne is now on track to break the world record for most days spent in hard lockdown.
But with vaccination rates marching higher and warmer weather on the forecast, now seems like a good time to dust off the reopening trade ideas.
In this episode of Buy Hold Sell, Ally Selby asks Perpetual’s Nathan Hughes and Australian Ethical’s Mike Murray to share their views on five ways to play an economy ready to reopen.
And there is one stock, in particular, that has them excited.
Note: This episode was filmed on Wednesday 15th September 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-for-the-reopening
The stocks you actually care about on Buy Hold Sell? Who said you can't have your cake and eat it too...
In this episode, we crunched the numbers on your most searched stocks for the month of August and put them to Chris Stott from 1851 Capital and James Gerrish from Market Matters for their thoughts on these reader favourites.
These include machine learning product provider Appen, a darling-turned-dud of the ASX; Afterpay, the Australian success story about to take the global stage; A2 Milk, which has struggled during the COVID-19 crisis; Dusk Group - perhaps you all really love candles? And Pilbara Minerals, the lithium producer with an electric 578% share price rise over the past 12 months.
And while Chris and James tended to agree on the majority of these stocks. There are two, in particular, that have them divided.
Note: This episode was filmed on Wednesday 1st September 2021. You can read an edited transcript below: https://www.livewiremarkets.com/wires/buy-hold-sell-5-of-your-most-searched-stocks/
Interest rates aren't going anywhere anytime soon, and Australia is still awash with accommodative fiscal and monetary policy.
And while the S&P/ASX All Ordinaries is already up 12.42% year to date, our fundies in this week's thematic episode of Buy Hold Sell believe that the ASX can continue to storm even higher over the coming 12 to 18 months.
Centennial Asset Management's Matthew Kidman is joined by Market Matter's James Gerrish and 1851 Capital's Chris Stott for this ripper of an episode, where they explain why this August reporting season has left them feeling resoundingly bullish.
"That's probably a scary thing to say; it scares me a little bit. But from what I have seen I think we should maintain a bullish stance," Gerrish says. Our fundies also discuss two standout stocks from earnings season, as well as how they are positioning their portfolios for the months ahead.
Note: This episode was filmed on Wednesday 1st September 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/two-standout-stocks-and-why-the-asx-will-push-higher
When it comes to movers and shakers, the Aussie reporting season has delivered on all fronts.
A surprise 141% dividend increase and an impressive jump in earnings from WiseTech saw its share price skyrocket 28.5% on the day it reported, while the announcement of a long-awaited new product saw Nanosonics share price soar around 21.9% in just one day. Meantime, RedBubble shareholders were likely popping bottles after its share price lifted 19% on reporting day, and another 16% the day after.
But August's reporting season wasn't just champagne and caviar. In fact, there were some equally disappointing results for shareholders. Online retailer Kogan's saw its share price fall 15.8% on the day it reported, while Monadelphous Group suffered a 14.4% beating. Yikes!
In this episode of Buy Hold Sell, Centennial Asset Management's Matthew Kidman is joined by two of the industry's best; Chris Stott from 1851 Capital and James Gerrish from Market Matters, to take a look at the movers and shakers from this reporting season.
Plus, they each share one company with a stellar result that flew under the market's radar.
Note: This episode was filmed on Wednesday 1st September 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-big-movers-and-2-under-the-radar-results/
While people may debate the independence of broker research, one thing they do boast is access. Access to company management, to information and data that you may not be able to get your hands on, like expensive FactSet or Bloomberg terminals, analyst reports and free lunches, to name a few.
And while the old proverb states that there truly is no such thing as a free lunch, our brokers may have a leg up when it comes to company analysis.
So, in this episode of Buy Hold Sell, we've invited Airlie's Emma Fisher and Sage Capital's Kelli Meagher to share their thoughts on five stocks the brokers are backing.
These include Star Entertainment Group, Bapcor, James Hardie, Ansell and Metcash, all of which receive resounding "buys" or "strong buys" from Australia's sell-side.
But will our fundies agree? You'll just have to watch the episode to find out.
Note: This episode was filmed using Zoom on the 18th of August 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-the-brokers-are-backing/
Despite rising bond yields through most of 2020, continued low interest rates have underwritten record valuations across markets. Meanwhile, rampant M&A activity is highlighting private markets’ confidence that favourable economic conditions will continue - in contrast to public investors' views that PE ratios are too high.
For investors looking for growth, it seems that frothy valuations are the norm. And while this trend may be fuelled by continued favourable economic policy, that doesn't mean one should be valuation agnostic.
Emma Fisher from Airlie Funds Management and Kelli Meagher from Sage Capital agree that finding growth at a reasonable price is a challenge in today's environment - but not impossible. In this Buy Hold Sell thematic discussion, James Marlay investigates the economic factors driving current valuations, how to identify growth names at an appropriate price and two names that our guest fundies think ticks these boxes.
Note: You can read an edited transcript below: https://www.livewiremarkets.com/wires/finding-the-value-in-growth-stocks
There are a few things in life we all love with reckless abandon. That first sip of a cold drink on a warm summer's day, puppies, travel (minus the flights and/or traffic jams), and growth stocks.
And before you say, "But I love traffic jams" or "I prefer cheap stocks": surely even value investors love watching their undervalued stocks grow to new heights? (As to traffic jams, really?).
In this episode of Buy Hold Sell, we put three popular growth darlings to the test. These include radiology IT software provider Pro Medicus, Australia's #1 employment marketplace SEEK, and global gambling company Aristocrat Leisure.
Plus, Sage Capital's Kelli Meagher and Airlie Funds Management's Emma Fisher share two stocks that they believe can deliver double-digit earnings growth over the years ahead.
It's enough to put a smile on even our traffic jam lover's face.
Note: This episode was filmed using Zoom on the 18th of August 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-5-durable-growth-stocks-for-your-back-pocket/
There are some topics that irrefutably divide the nation. The State of Origin, Vegemite, hipsters, for instance, or the existence of Australia's most dangerous marsupial, the drop bear.
One thing we can all agree on, however, is our love of dividends and earnings growth.
In fact, the best performing episodes of Buy Hold Sell have covered these very topics, albeit separately. So, in a time where we can't enjoy the pleasures of life other than those within the walls of our homes, we here at Livewire are giving the people what they want.
In this episode, Livewire's Ally Selby is once again joined by Plato's Dr Don Hamson and Merlon Capital's Neil Margolis for a look at five long-term compounders with annual dividend yields ranging from around 2-6%.
And while our fundies certainly don't agree on everything, there is one stock, in particular, that holds a safe place in both of their back pockets.
Note: This episode was filmed using Zoom on the 4th of August 2021. You can read an edited transcript below.
https://www.livewiremarkets.com/wires/buy-hold-sell-5-long-term-compounders-with-dividends-for-days/
If income investing was an Olympic sport, Australia would hold a silver medal, ranking second highest in the world for its dividend yield. And you can thank our world-beating and near-unique franking credit regime for this.
Of course, we also saw dividends slashed more severely than almost anywhere else last year, in the depths of the pandemic-driven market rout.
But – at the risk of labouring the sporting metaphor - Aussie dividends are making another sprint for the line.
In this episode of Buy Hold Sell, Plato’s Dr Don Hamson and Merlon Capital’s Neil Margolis join Livewire's Ally Selby in a deep dive into income stocks.
Alongside their medium-term outlook for the resurgence in buybacks and other capital management initiatives, they also reveal their thoughts on whether COVID has permanently distorted Aussie dividends, under-appreciated sectors, as well as their favourites among the Big Four banks.
Plus, they also share the stocks they are pinning their highest dividend hopes on this reporting season, as well as two dividend champions for the months to come.
Note: This episode was filmed using Zoom on the 4th of August 2021. You can read an edited transcript below: https://www.livewiremarkets.com/wires/where-to-hunt-for-dividends-in-2021-and-beyond
It was Paul Kelly who famously sang that "from little things, big things grow". And that sure has been true of our waistlines during lockdowns.
On the other hand, consider the ASX. When it gets bigger (an all-time high at the time of writing) it gives something back. To wit, billions in market dividends.
You need only skim the pages of this very publication to learn that $60 billion in dividends were paid out to investors in S&P/ASX 200 companies over the 2021 financial year.
Meanwhile, the banks (in addition to recently announced buybacks) and iron ore miners are expected to return tens of billions to shareholders over the coming months.
In this episode of Buy Hold Sell, we've invited two income experts - Dr Don Hamson of Plato and Neil Margolis of Merlon Capital - to share their thoughts on four stocks set to supercharge their dividends this reporting season.
Plus, they'll also share two dividend darlings they are backing for their payout potential in August and beyond.
Note: This episode was filmed using Zoom on the 4th of August 2021. You can read an edited transcript below:
https://www.livewiremarkets.com/wires/buy-hold-sell-6-stocks-set-to-supercharge-their-dividends
The proliferation of exchange-traded products is presenting investors with an ever-growing suite of tools for portfolio construction. As of June 2021, 620 different passive and active strategies were listed on the ASX with a combined market cap of more than $410 billion (Source: ASX). From one-stop multi-asset index funds through to specialist activist strategies and everything in between, there is an exchange-traded product catering to all investment tastes.
So, what are some of the different ways investors can utilise this ever-growing menu of opportunities and what are the distinguishing features of the various structures?
In this thematic discussion, Livewire’s Bella Kidman asks James Whelan from VFS Group and Chris Brycki from Stockspot to discuss their preferred approaches to portfolio construction and the most appropriate product for your time of life. Bella also asks each of our guests to share one of their preferred active and passive funds listed on the ASX.
Note: This episode was filmed using Zoom on the 22nd of July 2021. Click the link below to read an edited transcript: https://www.livewiremarkets.com/wires/two-takes-the-growing-list-of-exchange-traded-products
While the listed investment company (LIC) sector has grown 32% during the past financial year, underperforming LICs - particularly those that persistently trade at a discount to their net tangible assets (NTA) - remain in the spotlight.
According to data from Morningstar (as of June 30), 64 of the 100 ASX-listed LICs that they track trade at a discount to NTA post-tax (pre-tax this number shoots to 80), with the average LIC on their list trading at a discount of -4.4%.
In fact, Morningstar found that over the past financial year, 12 of these listed investment vehicles have either shifted into a different structure or have been wound down.
In this episode of Buy Hold Sell, Livewire's Bella Kidman was joined by VFS Group's James Whelan and Stockspot's Chris Brycki for a look at some of the best and worst that LICs have to offer. These include LICs from the Wilson Asset Management stable, as well as Regal, Plato, VGI Partners and Antipodes.
It seems there is a LIC for everyone ... or is there?
Note: This episode was filmed using Zoom on the 22nd of July 2021.
Where else in the world can you find innovative treatments, lithium, candles and jewellery all in the same category? In the small-cap arena of course!
In the final instalment of Buy Hold Sell's FY21 review, we take a look at some of the pocket rockets within the small end of the market. While the ASX broadly had a commendable year, it was the darlings in the small-cap space that had a cracker. The ASX Small Ords Index was up around 27%, thanks to names like Brainchip and Chalice Mining.
It was, however, our top-performing small-cap for FY21, discussed by our guests, that rallied the group, up over 1000% (you'll have to watch to find out what stock it is).
But will FY22 see a similarly spectacular run? That was the question posed to Shane Fitzgerald from Monash Investors Limited and Emanuel Datt of Datt Capital. In this episode of Buy Hold Sell, Livewire's James Marlay quizzes our guests on the best and worst-performing small caps of FY21. They'll also provide their outlook for this area of the market for the upcoming 12 months. Plus, our guests will also share two winning stocks for the year ahead.
Note: This episode was filmed using Zencastr on the 7th of July 2021.
Large caps had a smashing year in FY21. The S&P/ASX 100 index returned more than 20% over the past 12 months - which is pretty incredible when you think that in the five years prior the index only returned around 5.5%.
In fact, if you had invested in the benchmark at its COVID-low in March 2020, you would have enjoyed a nice 51% return (retrospect is a fickle thing, isn't it?).
In this episode of Buy Hold Sell, Livewire's Ally Selby is joined by First Sentier's David Wilson and Firetrail's Blake Henricks for a look at some of the best and worst-performing large caps from the past financial year. They'll share whether or not the winners still present good value and if the losers' fortunes could improve over the months ahead.
Plus, they'll share their #1 pick for the new financial year. What more could you want?
Note: This episode was filmed using Zencastr on the 7th of July 2021.
It's been a cracker of a year for Australia's ETFs, with funds under management swelling by 79% to reach $102 billion.
Over the past financial year, 27 new ETFs were listed on the ASX, taking the total number of products available to investors to 220.
In fact, Stockspot has found that ETFs saved Australians a whopping $500 million in fees, compared to if they had invested with fund managers - what more could you want?
So what were the best and worst-performing ETFs of the past financial year, and which ETFs do the experts think will outperform over the coming 12 months? I'm glad you asked.
To get into the nitty-gritty of the good, the bad, and the ugly of the ASX's listed ETFs, Livewire's Bella Kidman was joined by Medallion Financial's Michael Wayne and Shaw and Partners' Adam Dawes to answer these very questions. Plus, they'll share their #1 ETF for the year ahead.
Note: This episode was filmed using Zencastr on the 7th of July 2021.
High P/E stocks’ blistering run appeared to have come to a screeching halt in April and May, when the Aussie tech sector got sliced by over 15%. But June showed us that growth stocks only took a bullet to the vest, and their share prices are climbing back again with zest.
In this episode, we invited Ben Clark of TMS Capital and Justin Braitling of Watermark to discuss three stocks rebounding, but below all-time highs:
1) Afterpay – Which nearly halved during the recent mini-tech wreck and then soared 61%. But one of our guests thinks this company will never peak again 2) Treasury Wine – After being smashed by Chinese tariffs, this stock has managed to recover ~20% since its May low 3) IDP Education – A key player in the business of immigration; its share price has risen 25% since bottoming.
The daring duo also pitched two growth stocks - one a tech company, the other an exporter - that were off 75% at one stage, but could be once-in-a-lifetime opportunities for gutsy investors.
Note: This episode was filmed on 23 June 2021.
Well, the kryptonite of share markets is well and truly back: Inflation. Yes, the nemesis of both common and superhuman investors alike, has risen from the dead after what had been a decades-long slumber.
The Reserve Bank of Australia and the US Federal Reserve have both signalled that rates will be rising over the coming two years, sooner than many investors would have liked.
Worse still, TMS Capital's Ben Clark and Watermark Funds Management's Justin Braitling believe that a correction could be on the cards.
Justin points to a rallying USD as a clear signal, warning of a pullback in risk assets over the months ahead. Meanwhile, Ben believes we are nearing the end of the cycle, with a bear market on the horizon in a year or two's time.
So, how should you position your portfolio with all this in mind? You'll just have to watch this thematic episode of Buy Hold Sell to find out. Note: This episode was filmed on 23 June 2021.
Note: This episode was filmed on 23 June 2021.
Well, I think we can all agree it's been a strange week. Masks are once again mandatory in New South Wales, borders are shuttered, and travel plans, devastatingly, have been put on ice.
The past few weeks in bond markets have been equally volatile. In fact, despite all this talk of inflation, US 10 Year Treasuries have been heading south, earlier this week dropping to their lowest level since February 24. So what does this all mean for Livewire reader's favourite asset class, equities?
Well, Watermark Funds Management's Justin Braitling and TMS Capital's Ben Clark believe it may be time to cycle into defensives, with a possible correction in reflationary names on the horizon.
But what defensives are worth a look? Well, in this COVID-safe episode of Buy Hold Sell Centennial Asset Management's Matthew Kidman joins Ben and Justin to crack this very conundrum.
Watch the video below to discover their positions on Ramsay Healthcare, Telstra, AGL, Sydney Airport, and Atlas Arteria.
Note: This episode was filmed on 23 June 2021.
Few stocks have been able to wrangle their way into the S&P/ASX 20 over the past few years, earning themselves a place among the bourses biggest as their market caps swelled.
In 2020 alone, Amcor lost its place in the top 20 to Aristocrat Leisure, while a few months later Coles and Fortescue earned their stripes among the ASX all-stars - with Scentre Group and Suncorp receiving the boot. By the end of the year, it was all over for Insurance Australia Group, with Afterpay kicking the multinational conglomerate out of the mix.
But, as they say, what goes up - must come down.
In this episode of Buy Hold Sell, Livewire's Bella Kidman sits down with WaveStone Capital's Catherine Allfrey and Elston's Bruce Williams for a look at some of the mid-cap stocks that could be inching their way up to the lofty top 20. Plus, they'll also share two stocks that they believe could be on their way out.
Note: This episode was filmed on 9 June 2021.
They say from little things, big things grow. And that is certainly true for Australian companies. But on every company's way to the top, they have to pass through a funny little area in the middle. Ladies and gentlemen, let us introduce to you - the mid-cap universe. These companies may not have the same balance sheet strength as names at the top of the market, and may not be the pocket rocket growers down the bottom, but according to Lonsec's Peter Green, this diverse equity class deserves a spot in your portfolio, particularly when considering downside protection.
Mid-caps embrace companies between 100 and 51 on the ASX-100 index and have been some of the best performers over the last twelve months. Thanks to companies including Oz Minerals and Nine Entertainment (up 151% and 102% respectively), investors have been pleasantly surprised as this equity class shot up around 30% over the last twelve months.
As the market continues to rally, will the fertilising ground for these Aussie zingers turned large caps follow suit? According to Bruce Williams and Catherine Allfrey, we may be approaching the end of the stellar run.
In this thematic episode of Buy Hold Sell, Livewire Markets' Bella Kidman sits down with Bruce and Catherine to talk all things midcaps, where they're seeing opportunity in the space. Plus, they'll share one mid-cap stock that has been misunderstood by the market.
Note: This episode was filmed on 9 June 2021.
At Livewire we are told time and time again that behind every great business is an even better management team. We're told to invest in people rather than the business, to seek out CEOs who have prior experience building successful companies, to find leaders with "skin in the game," and, better yet, to back businesses led by founders themselves.
So, in this episode of Buy Hold Sell, Livewire Market's Bella Kidman is joined by WaveStone Capital's Catherine Allfrey and Elston's Bruce Williams for a look at five local founder-led businesses.
We'll put a spotlight on Seek (led by co-founder Andrew Bassat), the eponymously named Goodman Group (led by Gregory Goodman), Flight Centre (led by co-founder Graham Turner), Mineral Resources (led by Chris Ellison) and WiseTech (led by Richard White), to figure out whether founder-led really is all that.
Note: This episode was filmed on 9 June 2021.
"Triple-0, what's your emergency? Your small and large-cap picks for 2021 have taken a dive off a cliff? And returns barely have a pulse?"
Oh dear.
Well, it can feel like an emergency, can't it? Small caps are down -5.85% for the year, while large caps are faring slightly better at -5.05%. Meantime, the benchmark S&P/ASX Small Ordinaries Index has returned around 6%, while the S&P/ASX 200 has lifted nearly 9%.
But it's not over yet. There's more than just one stock pick or two in town. And you know it. That's why in this episode of Buy Hold Sell, Livewire Market's Ally Selby was joined by Marcus Burns from Spheria and Chris Stott from 1851 Capital to get their thoughts on three regularly requested stocks across Livewire's platforms.
We put Brainchip Holdings (ASX:BRN), EML Payments (ASX:EML) and Tesserent (ASX:TNT) on the chopping block. And for a bit of fun, we asked our small-cap fundies to share one beaten-down stock on the rise.
Note: This episode was filmed on 27 May 2021.
I invite you to call to mind the great contests of the recent past. Ali versus Foreman! Fischer versus Spassky! Federer versus Nadal! Gatting versus Warne!
Actually, maybe scratch that last one - but you get the picture. These were titanic tussles with everything at stake, all to play for, and no quarter given. Glorious triumphs and disastrous defeats that could bring a tear to even a psychopath's eye.
Now, in a worldwide first (we assume), we give you the Battle of the Small Caps!
Chief adjudicators of this soon to be fabled duel include Marcus Burns from Spheria and Chris Stott from 1851 Capital. In this very special thematic episode of Buy Hold Sell, the two small-cap specialists pit fan favourites against each other and crown winning stocks from each sector, leaving the rest out to dry.
We'll pit NRW Holdings against Mader Group. Temple and Webster against Nick Scali. CSR against Fletcher Building. And Pro Medicus against Healius.
And just because we are feeling generous, our fundies also throw in two exciting opportunities within the small-cap arena.
Who knew that Buy Hold Sell could get any better?
Note: This episode was filmed on 27 May 2021.
They say that it is an investor's best ideas that produce the best returns.
It sounds simple, right? (Right?) And yet, investors and fund managers' portfolios consistently balloon out to 40, 50, or even 60 holdings or more, with diversification for downside protection often to blame.
And while no one - and I mean no one - likes to see their portfolio in the red, Harvard Business School researchers Miguel Antón, Randolph Cohen, and Christopher Polk recently found that a portfolio of high-conviction holdings - AKA your best ideas - actually statistically outperforms.
In fact, they found that active and hedge fund managers' top ideas outperform the market - as well as their other holdings - by approximately 2.8-4.5% per annum. Meantime, the vast majority of the other stocks these managers hold don't exhibit this significant outperformance.
So, in this episode of Buy Hold Sell, Livewire's Ally Selby is joined by arguably the best Aussie small-cap managers in the country - Chris Stott from 1851 Capital and Marcus Burns from Spheria, for their analysis of their best three ideas. Plus, they'll share their thoughts on each other's top holdings too.
Note: This episode was filmed on 27 May 2021.
After underperforming the benchmark for more than a decade, financials are back - buoyed by a sudden switch to cyclical and economically sensitive stocks and an all-encompassing fear of impending inflation.
Since Pfizer and BioNTech's vaccine announcement in early November last year, Aussie financial stocks have risen nearly 30%, far outpacing the S&P/ASX 200's still impressive 11% return.
So, what are the biggest growth plays in the sector? Buckle up my friends, because in this episode of Buy Hold Sell, Livewire Markets' James Marlay sits down with local large-cap legends Matthew Haupt from Wilson Asset Management and Scott Olsson from Firetrail Investments to answer this very question.
Plus, they also share one COVID-bashed stock they believe is ready for a rebound.
Note: You can watch, read or listen to the discussion below. This episode was filmed on 12 May 2021.
The banks are back, baby. Or so it seems. NAB, CBA, ANZ, and Westpac have handsomely rewarded investors for their patience during tumultuous 2020, with nearly $7 billion in dividends expected to flood the market over the coming months.
The good news doesn't stop there. Or at least, that's according to Wilson Asset Management's Matthew Haupt and Firetrail Investments' Scott Olsson. They argue the banks' recent earnings reports, released earlier this month, are "extremely encouraging", while the incoming deluge of dividends is supported by "strong reported earnings."
But with this good news in the bank (see what I did there?) is there a chance for these giants to fall, given interest rates are at historic lows and the banks' margins likely to come under pressure.
In this thematic episode of Buy Hold Sell, Livewire Markets' James Marlay sits down with Matthew and Scott to discuss some of the successes, surprises, and shortfalls of the Big Four's earnings reports. Plus, they share some of the risks for investors to keep on their radar.
Note: You can watch, read or listen to the discussion below. This episode was filmed on 12 May 2021.
Love them or hate them you really have to hate the banks. Right? Well - maybe not so fast. After all Aussie investors love them, and why not? They've been a trusty source of dividends for years. And, last year, the banks endeared them to the broader public when they allowed people to pause loans and mortgage repayments, thus providing a life raft during peak COVID.
Now, having recovered by an average of nearly 71% from their COVID-lows, the Big Four are flying higher on our cashed-up country's improving economic outlook. In fact, KPMG found that the Big Four have recently reported a combined cash profit after tax of $13.8 billion, up 62.3% compared to the same time last year.
The Big Four banks continued to strengthen their balance sheets during the half-year, lifting their CET1 ratios by 105 bps to 12.4% - the strongest capitalisation the banks have boasted in decades, KPMG reported.
So, in this episode of Buy Hold Sell, Livewire Markets' James Marlay sits down with Wilson Asset Management's Matthew Haupt and Firetrail Investments' Scott Olsson to put the banks head to head. Plus, they each share one financial sector stock that has caught their attention.
It's been a tough year for the global tech giants. After running hard 2020 they were met with a sharp sell-off in March and the NASDAQ composite fell 10.5% in less than a month. This week we saw the story turn from bad to worse as the mention of inflation from Treasury Secretary Janet Yellen kicked off another sell-off across the tech-heavy index.
We know that these companies won't stay on top forever, but who will replace them when they do fall? We sat down with experts to find out.
Global growth fundies Nick Griffin from Munro Partners and Alex Pollak of Loftus Peak join Bella Kidman to weigh in on which companies could soon replace the FAANG stocks. These include Roku, a platform allowing cord-cutters to access streaming services from their TV; Deere & Co, the tractor-maker revolutionising the agricultural industry; Crowdstrike, the leading provider in cloud-based cybersecurity; and Twilio, a cloud communications business, providing companies like Uber with their in-app messaging system.
Plus, our fundies each share their top stock set to be the next global leader.
Those who twigged Web 2.0 would transform the world over the past decade are doubtless feeling pretty smug right now. And why not?
The likes of Facebook, Amazon, Apple, Netflix, and Alphabet (Google) have returned a respective 762%, 1767%, 1041%, 1431% and 780% over the past 10 years (or since listing). Together, an almost (read: very) ridiculous 5781%.
But the perennial questions burn as hot as ever: Who's next? And what will be the next dominant theme set to take markets by storm?
In this thematic episode of Buy Hold Sell, Munro Partner's Nick Griffin and Loftus Peak's Alex Pollak point to the shift towards decarbonisation of the planet as the next major trend set to shape global markets.
Nick and Alex join Livewire Market's Bella Kidman to share their insight on how investors can get on the right side of this trade and where, specifically, they are seeing opportunities.
Note:This episode was filmed on 29 April 2021.
Which were the winning listed companies of the last decade? Just take a look at the pointy end of the global rich list: Amazon's Jeff Bezos, Tesla's Elon Musk, Facebook's Mark Zuckerberg, Microsoft's Bill Gates, Google's Larry Page and Sergey Brin.
But then these companies weren't always at the top. They had to displace others (General Electric, anyone?). And what they all have in common, beyond technology, is disruption. Which begs the question: which up-and-coming companies are now charging to the finish line - ready to take them on and even surpass them in the never-ending race to global domination?
In this episode of Buy Hold Sell, two global growth juggernauts - Nick Griffin from Munro Partners and Alex Pollak from Loftus Peak - share their thoughts on four stocks already on the path to global disruption.
Plus, our fundies will each share one stock that they think the market isn't getting right.
Note: You can watch, listen or read an edited transcript below. This episode was filmed on 29 April 2021.
What's the first thing that comes to mind when you hear "shorting"? For me, it's every finance fanatic's favourite film The Big Short. Or, if you twisted my arm, the short squeeze we witnessed at the beginning of the year in GameStop.
A LOT of money was lost (and made) in the above examples. And while Michael Burry may have been heralded a hero, the hedge funds in the GameStop saga certainly were not.
So, let's address the elephant in the room. Shorting, more often than not, can get a bad rap, with investors accusing short-sellers of robbing innocent shareholders of returns.
But Perpetual's Anthony Aboud and Sage Capital's Sean Fenton believe otherwise, arguing shorting brings flexibility to investors portfolios, helping them to profit from a greater variety of companies in both bull and bear markets.
So, in this episode of Buy Hold Sell, Aboud and Fenton join Livewire Market's Ally Selby to discuss the ins and outs of shorting, where they are seeing opportunities in the current environment, and whether you should add shorting techniques to your investing toolbox.
Note: This episode was filmed on 14 April 2021.
The last 12 months in markets have sure been wild. On average, the top five gainers across the ASX 200 returned a whopping 371.5%. And no to you cynics out there, that wasn't all driven by Afterpay. The biggest gainer was in fact Pilbara Minerals, an emerging lithium miner up 551.9% since April 2020.
While growth stocks and stay at home plays dominated markets in 2020, Q1 2021 has told a different story as value and cyclicals made their comeback. It has got the Livewire team thinking, have these stocks run too hard?
So, in this episode of Buy Hold Sell, Ally Selby is joined by two long/short experts - Perpetual's Anthony Aboud and Sage Capital's Sean Fenton – to determine whether it's time to turn short or stay long on these winners. Plus, our fundies weigh in on the ASX's most shorted stock.
Note: This episode was filmed on 14 March 2021.
It was Albert Einstein who reportedly described compound interest as "the eighth wonder of the world", dubbing the process the universe's most powerful force. Whether or not that is true, the magic of compounding truly is that, magic. With an investment's earnings, from either interest or gains, reinvested to reward patient investors with further growth over time. It's what sees Warren Buffett - whose US$101.2 billion fortune has ordained him the title of The Oracle of Omaha - argue investors only buy stocks they would be happy holding if the market shut down for ten years. So, in this episode of Buy Hold Sell, Livewire Markets' Ally Selby is joined by Perpetual's Anthony Aboud and Sage Capital's Sean Fenton to put four companies with long term growth potential to the test. Plus, each of our fundies shares one business that they believe investors can be comfortable holding if the market closed for the foreseeable future. You'll be bending it like Buffett in no time.
Here's a little sizzling fun fact for your Friday after-work drinks. There is now more than $102 billion invested in exchange-traded funds (ETFs) in Australia, with almost half of that amount ($46 billion) invested over the past 12 months alone.
For some perspective, that's bigger than the GDP of nearly 130 countries (according to the International Monetary Fund), like Luxembourg, Guatemala, Bulgaria, Ghana, Croatia, Iceland, the Maldives and Fiji, to name a few.
It's safe to say then that ETFs are well and truly on their way to world domination - with investors young and old using the investment vehicles for index-like returns, active management, and various exposures to exciting thematics.
To help distinguish the steak from the sizzle, Livewire's Bella Kidman is joined by Shaw and Partners' Adam Dawes and VFS Group's James Whelan for their thoughts on two core ETFs, as well as four satellites with upside potential.
NB This episode was filmed on 31 March 2021.
There are so many things in life that remain unanswered: how to cure hiccups, why time runs in only one direction, why there is only one word for thesaurus.
However, there is one thing we've been able to bring to light: all your questions on exchange-traded funds, or ETFs.
From liquidity and management expense ratios to the benefits and disadvantages of using passive and active funds. This thematic episode of Buy Hold Sell hopes to answer some of the market's most common queries and questions on ETFs. Livewire Market's Bella Kidman is joined by the ETF experts; Shaw and Partners' Adam Dawes and VFS Group's James Whelan, to help join the dots on these investment products.
You're welcome.
Note: This episode was filmed on 31 March 2021.
The VIX is uncharacteristically calm at the moment. Since rocketing to an all-time high of 82.69 in mid-March - which was its highest level since its inception in 1990, by the way - the index which tracks future expectations of volatility has since taken a tumble, falling nearly 80% to around 17.
However, as much as we have bulls running, the bears are still at large in equal numbers. To consider the prospects of both beasts, Buy Hold Sell has lured Shaw and Partners' Adam Dawes and VFS Group's James Whelan to share their thoughts on three exchange-traded funds for bulls and three for bears.
As of the end of February, there were 215 ETFs listed on the ASX, with the market cap of these funds increasing by 52.6% over the past 12 months. Average transactions increased by 151.5% over the same period.
And, as Livewire Markets' Bella Kidman says, with six ETFs in the spotlight there truly is "something for everyone" in this BHS special.
Note: You can watch, read or listen to the discussion below. This episode was filmed on 31 March 2021.
They're big, they're bold, but they've been bleeding red through investors' portfolios. Over the past 12 months, ASX darlings CSL (ASX:CSL), Brambles (ASX:BXB) and Coles (ASX:COL) have haemorrhaged 15.69%, 2.67% and 2.23%, respectively, making them the only three S&P/ASX20 stocks to fall into the red over the past year.
So is it time to cut our losses or top-up? In this episode of Buy Hold Sell, we are sending these three big caps to the surgeon's theatre to see whether an economic infusion or two can bring these stocks back to life.
Centennial Asset Management's Matthew Kidman is joined by Airlie Funds Management's Emma Fisher and Alphinity Investment Management's Stuart Welch to throw on some scrubs and put these three red giants under the knife.
Plus, our fundies share one S&P/ASX20 stock that they believe still has plenty of upside ahead of it.
Note: This episode was filmed on 30 March 2021.
As Winston Churchill memorably put it in 1940, after a year in which Britain almost succumbed to a different sort of wide-ranging existential threat that the world faced down in 2020: "We're not at the beginning of the end but the end of the beginning."
It was an observation that reset expectations soberly and sanely, summoning the blood and stiffening sinews. And all of us surveying the current economic moment to gauge precisely where we're at could probably use a bit of the same clear-eyed judgment.
Cue Airlie Funds Management's Emma Fisher and Alphinity Investment Management's Stuart Welch who both argue we are halfway through the economic recovery having clambered out of the pit of despair that gripped markets 12 months ago
In this episode of Buy Hold Sell, Centennial Asset Management's Matthew Kidman finds out how they are positioning their portfolios in the current environment. Plus, Emma and Stuart share one stock that they believe has emerged stronger from the COVID-19 crisis.
Value investors are hailing the beginning of a new era, with many throwing their hard-earned cash at cyclical stocks, such as industrials and retailers, as pandemic conditions recede.
True - we're not out of the COVID-woods yet (we send our best wishes to Brisbane and Byron). But the rest of Australia is beginning to believe that Easter might indeed signal the beginning of a much-vaunted economic boom.
In this episode of Buy Hold Sell, Centennial Asset Management's Matthew Kidman sits down with Airlie Funds Management's Emma Fisher and Alphinity Investment Management's Stuart Welch to get their thoughts on James Hardie (ASX:JHX), Harvey Norman (ASX:HVN), Super Retail Group (ASX:SUL), Mineral Resources (ASX:MIN), and Incitec Pivot (ASX:IPL).
So, is it bargains galore for these cyclical stocks? Watch the episode to find out.
Everyone loves a bargain. It's a proclivity that sees us stampede shopping malls on Boxing Day, walk the extra block for a cheaper coffee and celebrate when we uncover a stock that has been undervalued by the market. In this way, we are all united in our worship at the alter of a good discount.
But finding growth at a discount - well that can be a challenge. Particularly given historically low-interest rates and all.
In this episode of Buy Hold Sell, we take it to the experts to scour the small and micro end of the market to analyse five stocks trading at a discount with potential for growth.
Livewire Markets' Ally Selby is joined by small and micro-cap aficionados James Dougherty from Lennox Capital Partners and Nick Guidera from Eley Griffiths Group, who together put five growth contenders to the test. And you better grab a notepad, because - spoiler alert - our fundies don't utter a single "sell" call in this entire episode.
Note: This episode was filmed on 17 March 2021.
Everyone has an Afterpay story. Or at least, most of the investors I know. Personally, I was told by multiple analysts to invest in early 2018, when its share price was trading around $7. I didn't. Isn't retrospect a funny thing.
And while Afterpay's great ascent is certainly a story for the ages, it's hardly a unique one at that. Blackmores, A2 Milk, Northern Star Resources, Dominos, and Fortescue Metals Group (to name a few) also - at some point in time - boasted similarly soaring share prices.
In this episode of Buy Hold Sell, Livewire Market's Ally Selby was joined by micro-cap experts James Dougherty from Lennox Capital Partners and Nick Guidera from Eley Griffiths Group, for their tips on finding the next undiscovered gem. Plus, our fundies shared one stock that they believe can climb its way up the index to the S&P/ASX20. You're welcome.
They used to say "Great things come to those who wait." But it took Abraham Lincoln to realise "Great things may come to those who wait, but only the things left behind by those who hustle."
And (segue alert) it seems that Australia's micro caps have been doing just that: hustling.
The MSCI Australia Micro Cap Index returned 36.34% over the past 12 months (to Feb 26). An undeniably impressive gain, compared to the S&P/ASX200's 3.6% return over the same period.
In this episode of Buy Hold Sell, Livewire's Ally Selby, as well as micro-cap experts James Dougherty from Lennox Capital Partners and Nick Guidera from Eley Griffiths Group, put five undiscovered micro-cap gems to the test.
And believe us, there's a few in there to put on your watchlist.
As Kurt Vonnegut once wrote, "peculiar travel suggestions are dancing lessons from God.” I don't know quite what he meant either, but what I do know is that, peculiar or not, the market seems ready to believe we're all in a much better place to consider travel and all that comes it - getting all sparkly for some fine wining and dining, for example - than it has for some time.
After all, Webjet, Lovisa and Treasury Wine Estates remarkably smashed expectations this reporting season, despite the vigorous headwinds COVID hurled their way.
In this episode of Buy Hold Sell, Centennial Asset Management's Matthew Kidman puts these three expectation-smashing stocks on the chopping block, to see if Aberdeen Standard Investments' Michelle Lopez and Monash Investors' Simon Shields are throwing their cash at these stocks as they climb higher. Plus they share one pick that they think has been overlooked by the market.
Well, that's a wrap on reporting season, and what a boomer of a season it was. Data provided by FNArena shows that February 2021 had the lowest percentage of companies to miss expectations ever recorded. It comes after ABS data revealed that Australia experienced a second quarter of GDP growth of over 3% in Q4 2020.
It's not all fun and games though. While the beats have been numerous, markets remain choppy. Last week the NASDAQ lost over 6% and the ASX All Ords is down 2%. So what will this mean for markets?
To answer this, Matthew Kidman is joined by Aberdeen Standard's Michelle Lopez and Monash Investors' Simon Shields as the trio reflect on reporting season, rising bond yields and the rotation from COVID-winners to losers.
In the words of Curb Your Enthusiasm and Seinfeld creator Larry David, there is no denying that February's reporting season was Pretty, pretty ... pretty good.
Nearly half of the company's that reported their half-yearly results beat analyst expectations, while 61 stocks received upgrades. Cyclical sectors like Mining, Resources, Materials, and Financials were top performers during the month, rising 6.4%, 6.0%, 5.8%, and 3.6%, respectively.
However, it wasn't all rosy, with a handful of not-so-impressive reports resulting in cascading share prices and 43 broker downgrades. In this episode of Buy Hold Sell, Centennial Asset Management's Matthew Kidman speaks to Aberdeen Standard Investments' Michelle Lopez and Monash Investors' Simon Shields for their take on the winners and losers of reporting season, and what they are still buying despite both the good and bad news.
Those who invested in tech titans Tesla, Tencent and Microsoft at their listings are no doubt laughing all the way to the bank (a brief stopover, before jumping aboard their 500-foot superyacht in the Maldives to celebrate their success with the world's finest caviar and a case of Cristal).
Why? Well, at IPO, Tesla's shares were just US$17, Tencent's shares were HK$3.70, while Microsoft's were just US$21, returning a whopping 4,265%, 18,468% and 1017% respectively since then. But are these companies midway to the stratosphere, or is this the end of the ride?
In this episode of Buy Hold Sell, Livewire Markets' Ally Selby spoke to Magellan's Vihari Ross and Montaka's Chris Demasi for their take on these three mega caps, as well as two stocks that they believe will rain returns for investors over the long term.
Do you have any questions for our fundies?
Next week, Aberdeen Standard's Michelle Lopez and Monash Investors Simon Shields will take you through the highs and lows of reporting season, as well as how they have positioned their portfolios since. If you have any questions for our fundies - whether it be on tips for assessing results or stock-specific analysis - let us know in the comments section below.
Unless you have been living under a rock or happened to be searching for this article on Facebook (too soon?), you probably know about the Australian government's legislative attempt to make big tech pay local news publishers for content.
In short, the News Media Bargaining Code (which is still winding its way through parliament) is intended to level the playing field between tech platforms and news media companies. Not surprisingly, it has sent ripples of anxiety around the digital media world, with Facebook and Google taking radically different stances in the stand-off.
To explain what this all means for investors, Livewire's Ally Selby spoke to Magellan's Vihari Ross and Montaka Global Investments' Chris Demasi. They discuss the repercussions of this news for investors in Facebook and Google, the potential windfall for publishers, as well as whether regulation curbs companies' ability to grow and innovate.
Hello and welcome aboard Livewire Market’s flight A2021. Lean back, ready the snacks and throw on some of your favourite tunes - Buy Hold Sell is back for another week and this time we are going global.
Why? Because you asked for it, and we listened. When our annual survey went out, requests for more coverage of global equities was high on your wishlist.
Welcoming you aboard this much-anticipated expedition is Livewire Markets' Ally Selby, who will also be introducing you to high-flying co-pilots Vihari Ross from Magellan and Chris Demasi from Montaka Global Investments.
Our team will be sharing their insights on global giants Kellogg's, Visa and Spotify and we also asked our fundies to nominate a high-flying stock that they think is over-hyped.
If there is anything we Australians love more than backing the underdog or a Bunnings banger, it's bang for our buck. Perhaps, this is why we worship the ground upon which our dividend stocks walk, with capital gains and a regular share of a company's earnings the reward for our adoration.
So, in this episode of Buy Hold Sell, we thought we would take it to the experts to get their take on the highest-yielding stocks on the ASX. Livewire's James Marlay spoke to Investors Mutual's Michael O'Neill and Plato Investment Management's Peter Gardner to discuss these five sky-high yield candidates.
However, a word to the wise, high yield can often be a tantalising trap. For this reason, the highest-yielding stock on this list (around 20% trailing yield), was dubbed a "sell" by both our experts.
Note: The stocks featured in this episode of Buy Hold Sell were chosen for their high trailing dividend yields (dividends over 12 months divided by share price). There are a variety of reasons why yield may be high, for example, a one-off special dividend or a plunging share price. Watch, read or listen to the discussion below. This episode was filmed on 3 February 2021. Trailing yields in edited transcript taken from the date of filming.
Dividend payments are back baby, or slightly more sustainable dividends at that. And with research from UBS finding dividends and franking credits accounted for 87% of returns from the ASX200 over the past decade, it couldn't have come any sooner.
Income investors suffered a bashing in 2020, with COVID-19 slashing any semblance of yield from the once-trusty banks and now-grounded travel stocks. While a one-off special dividend may have boosted spirits, investors have been left high and dry, hungry for a more sustainable source of yield.
In this video, Michael O'Neill from Investors Mutual and Peter Gardner from Plato Investment Management take you through their favourite sustainable sources of income in 2021 and call out two alluring yield traps to avoid.
There isn't much that gets investor's blood running in a low-interest rate world like the promise of yield. More often than not, investors look to the top end of the market for yield stocks, but it's outside the ASX100 where uncovered dividend gems can be unearthed.
In this episode of Buy Hold Sell, Livewire's James Marlay spoke to Michael O'Neill of Investors Mutual and Peter Gardner from Plato Investment Management to discuss five ex-100 dividend candidates. Will these small caps impress the dividend detectives or are trailing yields a trap?
Stay tuned for a return of our new segment, Questions Without Notice, where Michael and Peter surprise each other with a never-before-seen question.
Note: The stocks featured in this episode of Buy Hold Sell were chosen for their high trailing dividend yields (dividends over 12 months divided by share price). There are a variety of reasons why yield may be high, for example, a one-off special dividend or a plunging share price. Watch, read or listen to the discussion below. This episode was filmed on 3 February 2021.
Let's not beat around the bush here, your top-tipped small caps for 2021 are off to a roaring start. Together, these Aussie Small Ordinaries darlings have returned more than 52% - not bad for a fintech, a bookmaker, a rare earth's excavator, a biotech and a gift-card provider too.
We know it's early days, but who are we kidding, your most-tipped picks from previous years have performed consistently well. Your small caps from 2019 gained 43% for the year, while your tips for 2020 lifted a respectable (given the circumstances) 6.8%.
So, for this episode of Buy Hold Sell we've brought in the experts to get their take on your 2021 picks. Will Zip Co, EML Payments, PointsBet, Lynas Rare Earths and Polynovo continue to rain in returns over the year ahead, or will the illustrious list transform into a sea of red?
Plus, Market Matters' James Gerrish grills Tribeca Investment Partners' Jun Bei Liu on the company she believes has been overvalued by the market.
Warren Buffett doesn't like to sell. In fact, the famed investor once said his ideal holding period was "forever".
It comes as no surprise, then, that selling can often be one of the most difficult parts of investing, and can render even the most astute investor sick to their stomach. Yet still we tend to hang on to our investments far longer than we should.
In this episode of Buy Hold Sell, we go back to basics, taking one of your most requested education topics to the experts.
Livewire's Bella Kidman speaks to Jun Bei Liu of Tribeca Investor Partners and James Gerrish of Market Matters for a deeper understanding of the ins and outs of selling, from identifying the right time to sell, facing bad company news, and deciding whether to sell your holdings gradually or in one fell swoop.
CSL, Fortescue, Afterpay, Woodside and Macquarie. If you missed it, these stocks topped your list of most-tipped large caps for 2021. But - and let's not beat about the bush here - they haven't exactly got off to a flier.
These stock picks have big shoes to fill, with your selections over the past two years returning more than 50%. So for the first BHS episode of the year, we've brought in the experts to get a sense of whether your 2021 picks can close the gap and give their predecessors a run for their money.
Watch until the end of the video, to see Livewire's Bella Kidman, Jun Bei Liu from Tribeca Investment Partners, and James Gerrish from Market Matters introduce our newest segment, Questions Without Notice, where our fundies' knowledge is truly put to the test.
(Mini-spoiler: Only one of your picks received a resounding "buy" from our fundies, while two others were dubbed "sells" ... yikes.)
It is a truth universally acknowledged that a decent investor, in possession of a good sense of opportunity, is in want of one great stock pick. Well, maybe not. But we all have at least one perfect stock we would bend over backwards to own at the right price, one worth waiting for, worth obsessing over, one worth writing a song about, until the perfect moment to pounce.
Turns out some of Australia's best stock-pickers are no different. They too have a list of stocks they would snap up at the right price.
In this year's Outlook Series, we've gathered 10 of the country's leading fundies to share their pick - with a few stocks catching more than one fundie's eye.
Our featured experts include:
- Ben Clark, TMS Capital
- David Allingham, Eley Griffiths Group
- Vihari Ross, Magellan
- Kelli Meagher, Sage Capital
- Chris Demasi, Montaka Global Investments
- Julia Weng, Paradice Investment Management
- Matthew Booker, Spheria Asset Management
- Olivia Salmon, Lennox Capital
- Dr Bianca Ogden, Platinum Asset Management
- Matthew Kidman, Centennial Asset Management
Welcome to one of Livewire's favourite times of the year, and we're not just talking about Christmas or summer, or having that well-earned after-work silly season cocktail.
No, it's that very exciting moment when we invite some of the country's finest stock-pickers to put on their tipping caps and pitch which companies they believe will soar to fresh highs over the next 12 months.
A quick look at the stocks our fundies have picked previously shows their choices reward attention. In 2019 they well and truly beat the benchmark, returning an average of 59% (an outperformance of 35.86%). And even during tumultuous 2020, our fundies' roared to return an average of 13.88%, beating the benchmark by 10.26%.
Here are the 10 fundies putting on their tipping caps for 2021:
- Ben Clark, TMS Capital
- David Allingham, Eley Griffiths Group
- Vihari Ross, Magellan
- Kelli Meagher, Sage Capital
- Chris Demasi, Montaka Global Investments
- Julia Weng, Paradice Investment Management
- Matthew Booker, Spheria Asset Management
- Olivia Salmon, Lennox Capital
- Dr Bianca Ogden, Platinum Asset Management
- Matthew Kidman, Centennial Asset Management
There are some trades that so fill us with joy we become like a proud parent championing their children's sporting achievements, talking the ear off family and friends, neighbours and colleagues, lovers, enemies - anyone who will listen.
Then there are those that make us sweat, keep us up at night, and force us to reflect on how it went all so very wrong.
As part of our annual Outlook Series, we asked 10 of Australia's most talented fund managers to share their worst trade from 2020. From aircraft stocks plummeting to capital-raising opportunities foregone, from selling too soon to missing out on a sector rally, the fundies candidly reveal the trades that caused them both headache and heartache during the year just passed - and whether they believe the stock will be able to turn around over the coming 12 months.
Our featured experts include:
- Matthew Booker, Spheria Asset Management
- Kelli Meagher, Sage Capital
- Vihari Ross, Magellan
- Chris Demasi, Montaka Global Investments
- Dr Bianca Ogden, Platinum Asset Management
- Olivia Salmon, Lennox Capital
- Ben Clark, TMS Capital
- Matthew Kidman, Centennial Asset Management
- Julia Weng, Paradice Investment Management
- David Allingham, Eley Griffiths Group
An investor's portfolio can say a lot about their outlook for markets. With vaccines on the way, a settled election and the index returning to its February 2020 highs the consensus is painting a rosy picture for equities. However, making a return on this good news after the fact is easier said than done.
That's like calling a bookmaker after the Melbourne Cup and saying, "Makybe Diva's won, I want to put some money on it." says Steve Johnson of Forager Funds. In this thematic, Matthew Kidman leads the panel with Steve and Ben Rundle of NAOS Asset Management as the trio discuss their insights for 2021, the current opportunity set in the market and which sectors are presenting valuable opportunities right now.
The extreme volatility and sudden decline in asset values caused by the March sell-off have had a considerable impact on investors. Between January and May 2020, 54% of investors made changes to their portfolio, says the ASX Australian investor survey. Either looking to limit their losses or take advantage of deep discounts, investors were incredibly active. These two camps repeatedly came to together to make the most divisive stocks also some of the most frequently traded.
To discuss these companies, Matthew Kidman is joined by Steve Johnson of Forager Funds and Ben Rundle from NAOS Asset Management. The trio consider companies including, 1) Flightcentre - the travel company who rallied 50% in the last month 2) NextDC - who rode a surge in demand for data centres throughout the year and 3) a2 Milk - who hit record highs in June but now are losing ground with rising China tensions.
The rotation from growth into value is well upon us with many beaten down stocks now finding favour in the market. As the country returns to a semblance of normality, brokers are upgrading their outlook on these stocks and investors are following.
To discuss these stocks, Matthew Kidman is joined by Steve Johnson of Forager Funds and Ben Rundle from NAOS Asset Management. The trio consider companies including,
- Westpac - who has had a tough year in the headlines but is now backed by 6 of the largest brokers to outperform
- Woodside - the oil giant up 30% in the last month and
- Vicinity Centres - a shopping centre exposed REIT that could benefit from the country's reopen (Broker ratings can be found below, data provided by FN Arena).
Additionally, each fundie brings their best pick for an overlooked 'value' stock.
The past year has shown volatility like no other. After hitting rock bottom in March, the market has shot up over 50%, in just nine months. Nail biting investors sitting on the side lines have realised that owning strong, resilient companies will always win at the end of the day, no matter what is thrown at them.
In this episode of Buy Hold Sell, Bella Kidman leads the panel in a discussion on 5 all-weather stocks - companies that will thrive in any market condition. Joining Bella is Ben Clark from TMS Capital and David Wilson from First Sentier Investors who discuss stocks including, 1) Macquarie Group - the ASX darling up 11% this month 2) Resmed - a biotech giant benefitting from the vaccine news and 3) Brambles - the supply chain company with stunning FY20 results.
Additionally, the pair each bring their best pick for an all-weather stock they see performing 'rain, hail or shine'.
In 2020 growth stocks dominated across markets. So much so that value investing has now had it worst run in twenty years. The speed at which these companies grew captivated investors and helped pull markets in a march upward to their February 2020 levels. However, as vaccine candidates emerge and US political tensions settle, fundies are calling for reason to return to markets.
In this thematic, Bella Kidman leads the panel in a discussion as to whether it's possible for investors to find 'the best of both worlds' - growth at a reasonable price. Bella is joined by Ben Clark from TMS Capital and David Wilson from First Sentier Investors who share their thoughts on the current outlook for equities and their top pick for growth at a reasonable price.
This week, the world received the news that not only one, but two potential COVID-19 vaccines had been produced. Does this mean that 2021 goes back to normal and the world reopens? As this confidence grows, investors are increasingly looking to capitalise on companies that have been beaten down by the pandemic, but have a lot of upside potential.
In this episode of Buy Hold Sell, Ben Clark from TMS Capital and David Wilson from First Sentier Investors discuss the companies that are riding the vaccine wave, and will benefit from a reopened economy in 2021.
They include 1) QANTAS – the airline beaten down by the pandemic but looking to make a soaring recovery, 2) Scentre group – the shopping centre company up 35% this month and 3) Sydney Airport – an obvious beneficiary but trading at a PE of 101.
Ben and David also each bring a stock that they think will receive a tailwind as the economy reopens in 2021.
After a tumultuous year in which growth stocks dominated, the announcement of a successful vaccine has investors questioning whether these trends will continue. With low returns on offer elsewhere, investors are turning to equities, looking for the bulletproof returns that continue to run long into the future.
Tech darlings like Netflix, Alibaba and Spotify garnered significant attention from investors. However, Bob Desmond from Evans and Partners and Joe Magyer from Lakehouse Capital are not so convinced.
In this episode of Buy Hold Sell, Bob and Joe discuss these three growth stocks that ran in 2020 and whether they still see value in them. The pair also reveal their top pick for a resilient stock which they hold primed for growth.