US$100 Oil on the Horizon?
Last year I formed the view that there were opportunities in oil stocks. A handful of oil producers lagged the oil price as equity investors doubted the sustainability of the rebound. But a number of factors suggest that oil, while the price will of course be volatile, is now well... Show More
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Rerating to continue after near-death experience
Ashley Services Group (ASX:ASH) listed in 2014 as an integrated vocational training provider and labour hire group. The emphasis was on the Training division but when that business collapsed under the well publicised VET funding scandals it kicked off a long period of restructuring and uncertainty. Show More
MicroCap Reporting Season Wrap - FY17
While the mid and large cap stocks have been well covered thus far, the smaller end of town typically gets less attention and for those that do it is concentrated amongst a few of the market’s favourites. So here are a handful of micro cap stocks that haven’t received much... Show More
Emerging Sleep Solutions Provider On Cusp Of Strong Growth
Rhinomed Ltd (ASX:RNO) is a nasal, respiratory and breathing management technology firm based in Melbourne with a US office in Cincinatti. The company is developing and commercialising its technology platform in the sports, sleep, cold & allergy and drug delivery markets. The technology is based on an adjustable nasal stent... Show More
10 easy mistakes for investors to avoid
They say you learn more from your failures than your successes. I’m not sure that’s true but one thing I am sure of is that if you can learn from the mistakes of others rather than having to make those mistakes yourself then you will save a lot of time... Show More
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A Growing, Dividend Paying Microcap
A recent addition to the fund is Prime Financial (ASX:PFG), an integrated wealth management, accounting and capital advisory business. The company provides a broad range of services from financial planning, investment advice, life insurance, accounting & tax compliance, SMSF establishment and corporate advisory. Show More
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6 pieces of advice rarely given to private investors and SMSFs
Managing your own capital on a full-time basis is a constant process of learning and self-improvement that requires conviction in your views and the ability to shut out external noise and focus on what matters. If you get it right though, all the ups and downs are more than worth... Show More
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SDI Ltd - Global Dental Products Manufacturer Set to Re-rate
SDI Ltd (ASX:SDI) is a developer, manufacturer and distributor of dental restorative materials and small dental equipment. With it’s suite of non-amalgam, significantly higher margin products - glass ionomers, composites and professional whitening - all experiencing growth, the company has guided to NPAT of $7.2-$7.8m in FY16 and is trading... Show More
Wingara Ag (ASX:WNR): Strategy Starting To Play Out
A few months ago we introduced you to Wingara Ag (ASX:WNR) - the emerging exporter of Australian oaten hay to China, Japan and South Korea. Yesterday Wingara announced the acquisition of an additional nearby processing facility - Pyrenees Hay Processing Co-Operative Ltd (PHPC). Show More
Latest investment: Wingara Ag Ltd (ASX:WNR)
Wingara Ag (ASX:WNR) – an emerging agricultural exporter to Asian markets – is an attractive way to play the long term thematic of Asian demand for Australian agricultural produce. An exporter of Australian oaten hay (a high quality feed type for dairy cows) to customers in China, Japan, South Korea and Taiwan,... Show More
Ignore the market; focus on the company
In February, we stuck to our process of unearthing quality businesses led by well-incentivised management teams and began accumulating a new position that we expect will re-rate substantially when the investing community wakes up to the story. Capital H is generally looking for stocks that the investing community either has... Show More
Multiple catalysts for emerging litigation operator
JustKapital (JKL) is a large holding in the fund that still represents good value. Upcoming catalysts include demonstrating to the market that they are growing the debtor book of MML, which would also imply growth in revenue and earnings for the disbursement funding business. Acquisitions in this area, a key... Show More
Adacel's Growth Continues
In January I published this note https://www.livewiremarkets.com/wires/30291 stating the view that Adacel (ASX:ADA) was trading around fair value but that numerous opportunities existed for earnings upgrades and for the impressive growth story to continue. Last Friday Adacel announced another profit upgrade for FY16, guiding to 70% growth over FY15 (previous... Show More
JustKapital: Microcap Growth Story Under The Radar
Earlier this month we published a wire on JustKapital Litigation Partners (ASX:JKL), and shared our view that the company has an enormous growth opportunity in front of it, is led by impressive management and remains significantly undervalued. On Friday JKL announced that the acquisition of Macquarie Medico Legal (MML) is... Show More
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Adacel Technologies: Opportunities Abound
The market has started to wake up to the Adacel Technologies (ASX:ADA) story over the last 12 months with the rapid earnings growth being rewarded with a significant re-rate in the share price. Despite touching a recent high of $2.60 and reflecting what looks to be near fair value, investors... Show More
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JustKapital (ASX:JKL) - Materially Undervalued Opportunity in Litigation
JustKapital (ASX:JKL) is an emerging litigation and disbursement funding company with fantastic growth prospects, strong management and trading at prices that we view as materially undervalued. Show More
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Cogstate Ltd: Rapidly Growing Software and Services Microcap
Cogstate Ltd (ASX:CGS) is a leading software and services provider for the measurement and assessment of cognition. The company’s primary source of revenue is the provision of their core technology and services to clinical trials programs to assess the impact of a drug on a patient’s cognitive performance for indications... Show More
Great read.
On How the demise of Kodak shaped the way this fundie invests -
Bob, I hope you put the proceeds into something else that went up, but selling too early after more than tripling your money is a nice problem to have!
Hi Huiyi, Thanks for the positive feedback. On your point about when exactly to sell - I considered writing an article on that topic but I simply couldn't because I'm still figuring it out myself! And I'm not anywhere close to mastering it. Unless the market just offers you a price that is too good to refuse I think the best you can do is understand the business as deeply as possible so you have an idea when the underlying drivers are changing. And sometimes even if you get that part right the management team will just keep delivering regardless, so understanding their level of motivation and incentives is key too. The main reason I've sold something over the years has been to invest in another idea. That has often paid off but in situations like MNF (and others) I would have been far better to just sit and do nothing!
