A Small Cap Primed For Growth

Ron Shamgar

Prime Financial Group (PFG) is an integrated wealth management and accounting services business. PFG provides a range of services from financial planning, investment advice, accounting and insurance. PFG has over $1.1B of FUM now and services over 40,000 clients nationally through its directly owned accounting practices or through its joint... Show More

Pepper Group Looking Hot

Ron Shamgar

Pepper Group (PEP) is the leading non-bank mortgage lender in the country and a global consumer finance company with operations spanning Europe, South Korea and Hong Kong. TBF Small Cap Value Growth Fund took a position in PEP approximately 4 months ago below $2.80. Our thesis for investing in PEP... Show More

Is this the best value growth stock on the ASX?

Ron Shamgar

Investors are constantly on the lookout for growth. Companies growing earnings at double digit rates normaly trade on high multiples - hence finding growth and value at the same time - is hard to come by. Mcpherson's Limited (MCP) is a brand owner within the health, beauty and wellness sector... Show More

The first upgrade is never the last

Ron Shamgar

Three weeks ago, we profiled our investment in Freedom Insurance group (FIG) and explained the business model and its clear path to profitable growth over the coming years. Today the company reported its 1HFY17 results with net revenue up 116% to $25.7M, EBITDA up 546% to $11.1M and NPAT up... Show More

Hi Michael, appreciate your comment and skepticism. Maybe you haven't followed out fund over the last 4 years, but we share our investment ideas and the thesis behind them on a monthly basis for over 4 years now. Livewire is another channel for us to share these ideas and you can choose to do whatever you like with the information presented to you. All the best to you. Cheers

On When You See Value It Smacks You Right In The Face -

Hi Trooki, As we explained in the above article, FIG reports both reported earnings and cash earnings. The difference is the adjustment to the fair value increase in the trail asset book of FIG. As FIG is growing fast, the gap between reported and cash earnings is large. Over time as the business matures and growth tapers somewhat, the difference will be minimal. Prior to this year, FIG was building its scale to the point where from now onwards, operating cash flows will follow cash earnings quite closely. As can be seen from the recent upgrade to prospectus forecasts, any increase in sales can have a material positive effect on the cash earnings of the business as the operating leverage kicks in. Therefore we expect net operating cash flows to be quite strong this year after accounting for the one off IPO costs. Hope that helps. Cheers

On Freedom Insurance Group (FIG) – Free To Prosper -