Paradice Investment Management’s Sam Theodore is visibly excited when he talks about his first trip to Africa a few months ago.It was here that he got to know the management team over several days, sitting next to them on long bus trips to understand the business better.
NexGen, a Canadian uranium hopeful that has a secondary listing on the ASX, is awaiting final environmental approvals and is poised to be a top-quality, low-cost producer, according to Theodore.The Paradice fund manager is more bearish about the broader economic environment. He is underweight the consumer sectors given disposable income still looks “relatively challenged” despite economic conditions appearing “incrementally better”.
Instead, he says, the low-cost gym operations have increased earnings and revenue “strongly” in the past two years, thanks to consistent member growth.He says the business is expected to increase earnings at a compound annual growth rate of 30 per cent over the next three years, and is currently trading at a price-to-earnings ratio of less than 10.
Investing in the smaller end of the sharemarket means Theodore is no stranger to grappling with volatility or when company founders sell down their stakes – the “red flags” to look for when investing in the space.
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Fuente: FinancialReview - 🏆 2. / 90 Leer más »