Rhett Kessler, Senior Portfolio Manager at Pengana says that despite being out of favour he really likes Seven West Media (ASX: SWM)
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Rhett Kessler, Senior Portfolio Manager at Pengana says that despite being out of favour he really likes Seven West Media (ASX: SWM). He says when Nine roadshowed, pre-listing they trumpeted the strength that Nine has, potentially to the detriment of Seven. We don't think so, but that's ok. If you can buy a well run business in a structurally sound industry on a 10x earnings, a 10% after tax cash earnings yield, at the bottom of the advertising cycle in TV - that's a good bet.
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