Take a deep breath - we're talking about mining services

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Livewire Markets

Take a deep breath - we're talking about mining services. 18 months ago Steve Johnson says the portfolio at Forager Funds had 0% exposure to mining services. Today he says it makes up close to 18% of his portfolio positioning. In the most recent monthly report from Forager Funds, Steve openly says there is a reasonable chance that a number of the exposures in this space may not work out. The flip side is that he sees deep value in the space and expects to make very good money on the positions that do work out. We have already seen companies like Boom Logistics (BOL) and Briety (BYL) start to rally in the past few months. We spoke with Steve about the thinking behind his strategy and how he is protecting his investors from the downside risks.


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