Chris Prunty

Chris
Prunty

Principal & Portfolio Manager
QVG Capital

Chris Prunty is a co-founder and Portfolio Manager at QVG Capital; a boutique investment management firm specialising in smaller companies. QVG manages money on behalf of high net worth individuals and institutions in a 'best ideas' portfolio of smaller companies.

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Who flicked the Australia switch?

Chris Prunty

The whole market – including small caps – has been on fire since early October. It’s like someone flicked the ‘get long Australia’ switch in the first week of October and it was game on. If there are big global money flows in to a market purely for the reason... Show More

ASX:SIQ ASX:LOV ASX:MTO ASX:MNF ASX:APT

The 5 top themes in small caps right now

Chris Prunty

It’s not often you get the chance to build a portfolio from scratch. But that’s what the last month has been about at QVG Capital with the launch of our new Opportunities Fund. On 1 September we started with a blank sheet of paper and, just as importantly, without the... Show More

ASX:CCP ASX:MIN ASX:NWH ASX:PTM ASX:LOV

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Five small cap opportunities emerging right now

Chris Prunty

Not since the dark days of 2008 has the spectre of macro-economic trends and global events had so much impact on small cap portfolios. I’m reminded of a quote attributed to Warren Buffett’s mentor Benjamin Graham who is reported to have said “the market is like your mistress, you can’t... Show More

Look at quality before valuation

Chris Prunty

When we started the Ausbil MicroCap Fund in February 2010, we missed the bottom by about 12 months but in hindsight, it was still a fantastic time to start a smaller companies fund. Valuation multiples ranged from 8-12x PE and earnings were recovering so growth looked better than it does... Show More

Skepticism is a key ingredient to investment success

Chris Prunty

In the stock market, as in life, good news (upgrades) travels fast while bad news tends to become evident slowly. Employees, management, and boards all want to see their companies do well, and they tend to be true believers about their companies future. This optimism can make boards and management... Show More

downgrades television the buy side brief

No change is the best result

Chris Prunty

One of the great joys of this year’s budget was not waking up on Wednesday morning knowing something was going to be down off the back of government tinkering. When it comes to regulatory change, as investors, we are certainly of the view; less is more. Our largest ‘regulatory risk’... Show More

the buy side brief ASX:SIQ ASX:SGF

Know when to run

Chris Prunty

As Kenny Rogers says; you've got to know when to hold ‘em. Know when to fold ‘em. Know when to walk away, know when to run. When a stock falls materially – say 20% - then answering the hold, fold or run question correctly is what distinguishes the good, the... Show More

the buy side brief

Small Resources will not recover in 2016

Chris Prunty

My colleague and I fancy ourselves as small cap specialists so one of the interesting features of the market over the past year has been the attempt of small cap resources to get off the floor. The Small Resources Index rallied over 10% 3 times in 2015; in February, April,... Show More

small resources the buy side brief predictions 2016

Strategies to avoid fatal investing mistakes

Chris Prunty

I was taught to read financial statements like the Tele; back to front. You start with the important stuff (sport) on the back page, then move to the boring stuff up front. It’s the same with financial statements. Start with the cash flow, then move to the balance sheet and... Show More

the buy side brief

Will volatility be a feature of reporting season?

Chris Prunty

Some of the recent moves in mid cap stocks are justified by the negative earnings revisions off leveraged balance sheets. If a stock is geared then a relatively small move in the earnings growth rate can have a more pronounced hit to that company’s equity. The other area of concern... Show More

reporting season the buy side brief ausbil mid cap

Five small cap stocks to watch

Chris Prunty

Stocks with US$ revenues ought to do well in reporting season as these revenues are translated back into A$ at a weaker A$ than in prior periods. We own billing software provider Hansen Technologies (ASX:HSN) which has a high proportion of foreign revenues. Stocks leveraged to housing construction, house prices... Show More

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The recent addition of Kyle & Jackie O is not the only reason to own APN News & Media

Chris Prunty

The recent addition of Kyle & Jackie O is not the only reason to own APN News & Media. The stock ought to appreciate as the PE multiple expands to reflect the improved earnings mix. APN recently surprised the market by gaining full control of their Australian and New Zealand... Show More

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