Out of love with Lovisa?

Alex Shevelev

For a while there Lovisa (LOV) was a bright spot in Australian retailing. A domestic success story conquering the world. But that was a few months ago. In October the company’s share price is down 26% after a poor sales update. Investors’ love affair with Lovisa seems to be falling... Show More

Preparing for, not predicting, the housing crash

Alex Shevelev

Newspaper headlines like “House prices continue to tumble nationally” are now everywhere. While we have been worried about the potential for a housing correction for a long time, what was theoretical has become actual. Prices are down and it’s no longer the fringe doom-sayers that are predicting further falls. It... Show More

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The Meerkat Feasting on iSelect

Alex Shevelev

Earnings guidance slashed by 64%. CEO gone. The stock down 54%. That was the situation for iSelect (ISU) when we started buying the stock in April. And this isn’t their first time disappointing investors. That sounds horrible, so why does the Australian Fund now own 9% of the company? Show More

Not All Information is Created Equal

Alex Shevelev

Promises. We’ve heard our fair share from company management teams over the years. iSelect told investors that earnings before interest and tax would be $26m to $29m for the year. A little over two months later expectations were slashed by over 60%. How much weighting should management guidance be given... Show More

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

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