Building a bridge and getting over it
2020 has been challenging and complex, however successful investing is a forward-looking exercise and it's now time to move on. With the US elections (somewhat) resolved and some good progress being made on a COVID-19 vaccine the macro-economic landscape is fundamentally changing - although don't expect the rising tide to lift all boats equally.
High P/E 'hopes and dreams' business models will come under pressure, private sector credit growth will remain muted and some questionable yield plays will continue to be bid up by retail investors seeking a substitute for term deposits.
Now, more than ever, it is essential not to follow the crowd. To preserve and grow capital in this market will require a mindset that challenges the status quo and seeks out investment opportunities that are distinctively different.
As we enter CY2021 investors need to be carefully considering:
- Who will the longer-term beneficiaries of public sector stimulus?
- What are the risks of investing in a 'lower for longer' interest rate environment?
- What is a fair price to pay for a stock?; and
- Where are corporate revenues derived, and why might they be mispriced by the market?
During this half hour webinar Michael Goldberg (Managing Director & Portfolio Manager) and Rob Hay (Head of Distribution & Investor Relations) share:
- Their contrarian insights into the Australian economy for CY2021;
- Why backing the infrastructure thematic requires a flexible and 'non-consensus' mindset; and
- Their top 3 stock picks (BOL, CRN, DCG) for playing in the infrastructure space over the next 12 - 18 months.
Watch the webinar here:
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Michael is the MD and one of the founding partners of the Collins St Value Fund. The Collins St Value Fund is one of the best performing Funds in Australia - having ranked among the top 10 performing funds across all Australian Equity mandates by...