Buy Hold Sell, by Livewire Markets

Buy Hold Sell: 3 stocks with ultra-low PEs (and 2 darlings to drop)

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 

 

5 high conviction calls from 2022’s top-performing fund managers

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 

Buy Hold Sell: 5 stocks for the run in resources

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 

Buy Hold Sell: Your top large caps for 2023 (and 2 that should have made the list)

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 

6 stocks for a full portfolio reset in 2023

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 

Buy Hold Sell: The top small-cap picks for 2023 (and 2 fundie favourites)

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 

16 funds the professionals would invest in

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

 

5 crowded trades to avoid in 2023

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 

15 bold predictions for the year ahead

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 

15 investment themes for your radar in 2023

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