AWE: Right in the sweet spot
Portfolio Manager Ben Griffiths shares his views on the recent market weakness and says expects the Australian market is close to bottoming. “There’s too much cash around on the sidelines, too many fund managers sitting on large hoards of cash for me to be too concerned.” Griffiths also says the volume of IPO product in the market should be seen as a positive signal rather than a negative. With sufficient empirical evidence to suggest that we are now in a seasonally weak period Griffiths points out a number of stocks that he has been buying with a view that they can perform through all conditions. One of the stocks is AWE. Griffiths says the stock is well managed with a quality suite of assets. After a recent resource upgrade at one of AWE’s assets he says the stock is “right in the sweet spot” to take advantage of firming East Coast Gas prices. Watch the full interview here: (VIEW LINK)
Eley Griffiths Group is an independent fund manager specialising in listed Australian small companies. Our investment team has been uncovering hidden opportunities in small caps since 2003.