Alex Shevelev

Alex is a Senior Analyst at Forager Funds Management, responsible for researching stocks for the Forager Australian Shares Fund.

Expertise

Smart (or not) Parking?

Alex Shevelev

The Australian Shares Fund used to hold parking services provider Smart Parking (SPZ). We invested via a $0.15 per share capital raising in February 2014. Since then the company’s UK parking lot management business has lurched from crisis to crisis and the sexy technology business remained loss making. It was... Show More

ASX:SPZ

Jumbo Risks all but Forgotten

Alex Shevelev

We are out. Last week the Forager Australian Shares Fund sold its last remaining shares of online lottery ticket reseller Jumbo (JIN). Our margin of safety dwindled in the past year and it was time to exit this very successful investment. Show More

ASX:VTG ASX:JIN asx:bla

Buying Stocks that Could Go Bust

Alex Shevelev

Many investors wouldn’t have touched Whitehaven Coal with a hazmat suit on. It was January 2016 and thermal coal had just hit US$47/ton. Under the weight of $925m of net debt, Whitehaven’s market capitalisation had fallen by almost 90%. Forager’s investment case at the time made the downside clear –... Show More

options whitehaven coal australian equities

MMA Rides the Offshore Oil Recovery

Alex Shevelev

The September 2017 quarterly report spelled out a renewed bullish message from the International Fund team: the oil price is headed higher. The Australian Fund has not had as many oil exposed stocks to choose from, but we have recently added to the Fund’s oil exposure. It’s an asset heavy... Show More

oil crude oil oil and gas ASX:MRM

Chiming in on Crypto Madness

Alex Shevelev

“Bitcoin has become one of the world’s hottest investments, a bubble inflated by social media, loose capital in search of the newest new thing”. You could be forgiven for thinking that this was written last week. In fact, it appeared in The Economist in April 2013. Bitcoin started that year... Show More

bitcoin bubble crypto currencies

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Sifting Through Fallen Angels

Alex Shevelev

Buying unloved stocks is part of the DNA at Forager. Most of the funds’ excess returns over almost eight years have come from buying stocks that other investors hated at the time we acquired them. Think Service Stream in 2013 or Cardno in mid-2016. Show More

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Is Macmahon on the cusp of finally delivering?

Alex Shevelev

If you were buying Macmahon on the basis of its latest result, you wouldn’t pay a cent for it. Revenue was $360 million, 15% higher than last year. But the business lost $2 million at the earnings before interest and tax (EBIT) line and, in total, $23 million of shareholders’... Show More

ASX:MAH

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