Rhett Kessler from Pengana said on Sky Business the market has got it wrong on Resmed (ASX: RMD)

Rhett Kessler from Pengana said on Sky Business the market has got it wrong on Resmed (ASX: RMD). It's had 75 consecutive periods of growth and we think they've barely scratched their market. It's a bit under the whip at the moment because instead of having double-digit growth, it only had high single-digit growth. They've got lots of net cash. They're economically insensitive so we don't have to predict the economic cycle. (They're) well diversified geographically so we don't have to worry about currency that much. There's a presumption that it might be going ex-growth because of a couple of tough quarters. We think mid single-digit growth in their core business with lots of ancillary second horizon businesses is fine for us, particularly at this price. (Plus) there's never been a bigger short position on the stock... and we like that.

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