Ahh, the mystical 10-bagger. A stock that has delivered its investors a 10x return on their initial investment. Initially coined by legendary investor Peter Lynch, who was a fan of discovering undervalued stocks with sustainable and attractive earnings per share growth, a love of 10-baggers saw Lynch's Magellan Fund achieve a 29.2% average return over the 13 years he managed it.  In his book, One Up on Wall Street, Lynch wrote, “In my business a four-bagger is nice, but a ten-bagger is the fiscal equivalent of two home runs and a double.” While this anonymous writer may not know anything about sports, I do know a few talented local fund managers who can help investors identify the ASX's next great 10-baggers.  So, in this episode, Livewire's Ally Selby was joined by Ausbil's Andrew Peros and Ellerston's David Keelan. They share their secrets to identifying long-term compounders, the importance of backing strong founders, the red flags investors should look out for, and whether profitless companies are a problem or worth the risk.  Plus, they each name a company that they believe could become the ASX's next 10-bagger.  Note: This episode of Buy Hold Sell was recorded on Wednesday 20 November 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/could-these-2-stocks-become-the-asx-s-next-10-baggers/ 

Small caps are nimble, fast-growing companies that punch well above their weight when it comes to delivering returns. Small caps may not have the size and scale of their large-cap counterparts, but that’s exactly what makes them so exciting. These companies are often innovators or disruptors, capturing niche markets and delivering rapid growth as they expand. It’s no wonder they’ve become a favourite hunting ground for investors looking for the next great 10-bagger.  However, investing in small caps isn’t without its risks. While some go on to become the blue chips of tomorrow, others can stumble as they navigate challenges like scaling up, raising capital, or competing against larger, better-resourced rivals. That’s why picking the right small-cap stocks is critical - and that’s exactly what this episode aims to help you do today.  In this episode, we’ll delve into five ASX-listed small caps with the help of David Keelan from Ellerston Capital and Andrew Peros from Ausbil Investment Management. From telecommunications to engineering, video game development, and even cyber safety for kids, these companies operate in sectors brimming with opportunity. Some have delivered spectacular returns over the past year - like Superloop, which has soared 215%, and Qoria, up 105%. Others, like Playside Studios, may be flying under investors' radars.  So, are these stocks poised for further growth, or is it time to cash in? You'll find out in this episode of Buy Hold Sell.  Note: This episode was recorded on Wednesday 20 November 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-5-of-the-asx-s-fastest-growing-small-caps/ 

Traditional long-only investors, who don't tinker with their cash levels much, typically participate in all of the market's upside when it is flying and all of its downside when it's not. Markets typically increase over time, so this is a perfectly acceptable way to invest.  Long/short investors, however, can also profit when markets fall—but that's too simplistic an explanation. It suggests that long/short managers make money equally when markets go up and down, which is rarely the case.  Because long/short managers are also active beta managers (i.e. they pick stocks to outperform a benchmark or achieve a specific objective), they typically capture most of a market's upside while significantly limiting losses on the downside.  That means that much of their alpha (overall outperformance) is often generated by providing much better protection when things are bad versus smashing the market when it is flying.  With all that in mind, what better time to ask two long/short managers for their top defensive picks than right now - when equity markets are at all-time highs and valuations are on the ritzy side?  On this episode, Livewire's James Marlay is joined by Jun Bei Liu from Tribeca and David Moberley from ClearLIfe Capital for their analysis of five stocks that could weather a coming downturn - whenever that may be. Note: This episode was recorded on Wednesday 6 November 2024.

One key function of long/short fund managers is to compare similar companies and trade them against each other. These companies are often found within sectors but can also be found across sectors, as companies with similar characteristics. Once identified, a long/short manager will buy the stronger-performing company in the pair and sell the weaker-performing company. This is known as a 'pairs' trade. This strategy also has the benefit of being market-neutral (given one long and one short trade in the pair). The ASX is littered with potential pairs trading opportunities. Some examples include Coles and Woolworths, Fortescue and Rio Tinto, and Santos and Woodside. Given the focus on comparing companies and actively trading them against each other, who better to ask for their best and worst picks in a sector than a couple of long/short fund managers? For those who love stock picks on both sides of the ball, this episode is for you. Livewire's James Marlay was joined by Tribeca Investment Partners' Jun Bei Liu and ClearLife Capital's David Moberley to discuss their best and worst picks in five different sectors. Note: This episode was recorded on Wednesday 6 November 2024.

Lithium darling Pilbara Minerals has overtaken Flight Centre as the most-shorted stock on the ASX. After what seems like years at the top of the list, the travel company has dropped down to the 30th most-shorted stock on the ASX - with a short interest of 5.75%.  Today, only two of the 10 most-shorted stocks are not miners - while out of the top 20, only seven stocks are not within the minerals and resources sectors. It's fair to say then that the market remains bearish on the outlook for many of these stocks - with lithium and uranium miners heavily featured in the list.  So, is there any value among the most shorted stocks on the ASX? Or should investors be steering clear of these stocks?  To find out, Livewire's James Marlay was joined by Tribeca Investment Partners' Jun Bei Liu and ClearLife Capital's David Moberley.  They analyse three of the most heavily shorted stocks on the ASX - including Boss Energy, IDP Education and Seek - and each name a stock that they believe could see a short squeeze.  Note: This episode was recorded on Wednesday 6 November 2024. You can read an edited transcript below. https://www.livewiremarkets.com/wires/buy-hold-sell-hunting-for-value-among-5-of-the-asx-s-most-shorted-stocks/  

Locally, founder-led businesses have been making headlines for all the wrong reasons. Take the downfall of Australian tech billionaire Richard White of WiseTech Global, for example, or the tax scandal claims circling Mineral Resources' Chris Ellison.  On the global stage, founders can be far more divisive. Elon Musk is now being sued by Philadelphia's district attorney over his US$1 million daily election giveaways in a bid to boost Donald Trump's election campaign. In response, he posted a photo of a daily winner with a cheque on his social media platform X. Meanwhile, scandals seem to continuously orbit Facebook/Meta founder Mark Zuckerberg - who has been accused of (among other things) being a robot.  In China, Alibaba's founder and leather jacket enthusiast Jack Ma literally disappeared after criticising the Chinese government. Many thought he was dead.  So, is it worth investing in companies with controversial CEOs, founders and leaders? Or should investors be focusing on companies with leaders who have their heads down and are focusing on business growth instead? To find out, Livewire's Ally Selby was joined by Antipodes' Jacob Mitchell and Magellan's Arvid Streimann.  Note: This episode was recorded on Wednesday 23 October 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-with-controversial-leaders 

We are only a week away from the US election - and it's arguably still anyone's guess who could win.  Currently, betting markets have former US President Donald Trump at a 59% chance of winning a second term next week. That's despite Democrat nominee Kamala Harris leading in some of these same betting polls just one month ago.  So, what would a Trump second term mean for markets? Or if Kamala pulls off the win, how should investors position their portfolios?  In this episode, Livewire's Ally Selby was joined by Magellan's Arvid Streimann and Antipodes' Jacob Mitchell for a deep dive into the US election and its impact on investors.  They discuss the macro forces that could shift as a result of a new administration or the status quo, the sectors and stocks that could benefit and suffer as a result of a Democrat and a Republican administration, and cast their prediction of who will become the next president of the United States.  Note: This episode was recorded on Wednesday 23 October 2024. You can read an edited transcript below. https://www.livewiremarkets.com/wires/trump-v-kamala-what-a-win-for-either-party-will-mean-for-markets  

With the US Federal Reserve cutting its cash rate by 50 basis points in September, Fitch Ratings predicts that the upper US federal funds target will fall to 4.5% by the end of the year, 3.5% by the end of 2025, and 3.0% by June 2026.   Meanwhile, JP Morgan expects the Fed will cut by another 50 basis points in November. Looking out over the next few years, JP Morgan notes the Fed’s “dot plot” has four more 25 bp cuts (totalling 100 bp) in 2025. It also notes that the Fed has increased projections for its neutral funds rate by another eighth of a percentage point to 2.875% — which it expects to reach in 2026. No one has a working crystal ball, but if expectations are anything to go by, interest rates (in the US at least) are on their way south. And while we may never see 0% cash rates again, lower cash rates are still positive for equities.  So, in this episode, Livewire's Ally Selby was joined by Magellan's Arvid Streimann and Antipodes' Jacob Mitchell for their analysis of three interest-rate sensitive stocks that could benefit from this lower rate environment.  Plus, they name two big buys that they are betting on today with this in mind.  Note: This episode was recorded on Wednesday 23 October 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-5-interest-rate-sensitive-stocks-for-a-new-world-of-lower-rates/ 

Founder-led companies typically outperform their peers over the long term. Driven by a strong alignment of interest, a founder's long-term focus, and emotional dedication to a business's success, companies with founders at the helm are seen to be a safer bet than those with hired suits.  Take Milford Asset Management, for example, which found the three-year performance of the founder-led stocks within their portfolio (23 companies) returned 24.9% per annum against the Small Ordinaries 2.7% to April 2024.  Likewise, Solaris Investment Management found that over the last five years (from 2019 to 2024), the 12 largest founder-led companies on the ASX returned 420% while the benchmark accumulation index only returned 65%. So, in this episode, Livewire's Ally Selby was joined by two Hall of Fame fund managers in Ellerston's Chris Kourtis and Airlie's Matt Williams for their analysis of five founder-led companies.  Are these bottom-drawer stocks, or should these founders get the boot? You'll find out in this episode of Buy Hold Sell.  Note: This episode was recorded on Tuesday 8 October 2024. You can read the edited transcript below. https://www.livewiremarkets.com/wires/buy-hold-sell-5-founder-led-companies-on-the-rise 

With decades of experience under their belts, it's fair to say that Ellerston's Chris Kourtis and Airlie's Matt Williams know a thing or two about investing. While their styles differ quite widely - Chris is a contrarian and Matt's all about quality and solid balance sheets - they both have their eyes keenly focused on their next opportunity.  Interestingly, despite the different investment styles - valuation is one thing they can agree on - and make it clear that investors should take a fresh look at their portfolios and make sure they don't get caught out if we see a sell-off in the near future.  Similarly, management is something that both our Hall of Fame fund managers are watching. However, while Matt is searching for businesses with teams that can execute well and help a stock soar, Chris is looking for missteps that could see the market punish a business far more than it should.  So, in this episode, Livewire's Ally Selby sits down with Chris and Matt for their insights into how they are thinking about markets and the macro forces at play, as well as a deep dive into their strategies and what makes them tick.  Plus, they also share one piece of advice so that investors can be successful over the next 12 months, and a stock that can help investors on their way.  I should say this episode is quite long, so sit back, relax and get comfy. But then again, how often do you get to hear straight from two Hall of Fund managers in one episode?  Note: This episode was recorded on Tuesday 8 October 2024. You can read the edited transcript below. https://www.livewiremarkets.com/wires/hall-of-fame-special-how-two-of-australia-s-best-invest

Each year, a fund manager is added to the Hall of Fame. It's an illustrious list, including only the best of the best Australian funds management talent - the likes of Olev Rahn, Kerr Neilson, Peter Morgan, Anton Tagliaferro, Catherine Allfrey and more.  Given another name will be added to the list later this month, we've called on the big guns - Hall of Fame alumni Chris Kourtis from Ellerston Capital and Matt Williams from Airlie Funds Management, who were inducted into the Hall of Fame in 2018 and 2022 respectively.  With a unique opportunity to have two Hall of Famers in one room, Livewire decided that the best use of their talent would be to pick apart each other's highest-conviction stock picks.  So, in this episode, Matt and Chris share their best ideas today - and joyfully point out the holes in each other's theses.  Note: This episode was recorded on Tuesday the 8th of October 2024. You can read the edited transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-2-hall-of-fame-investors-analyse-each-other-s-best-ideas 

For years, experts have predicted a coming surge for copper. BHP, for instance, believes that copper demand will grow by around 70% to over 50 million tonnes (Mt) a year by 2050. For context, the total copper demand in 2023 was 31 million tonnes.  But copper prices haven't really gone anywhere over the last three years - sitting at around the mid-US$4 level since November 2021.  According to today's guests, slowing global economies has had a dampening effect on demand and kept copper prices suppressed at these levels. But looking out over the next five to 10 years, that demand will increase - meaning, it will be very hard for supply to keep up. The Fed's recent 50 bp rate cut is a catalyst - and supply shortages mean this theme won't last for 18 months or two years but for many years to come.  So, in this episode, Money of Mine's Matt Michael was joined by Perennial's Sam Berridge and Argonaut's David Franklyn for their answers to the big copper conundrum.  They analyse three copper stocks listed locally in Australia - including Sandfire Resources (ASX: SFR), Metals Acquisition (ASX: MAC) and Evolution Mining (ASX: EVN).  Plus, they both name two big BUYS in the copper space that they are bullish on today.  Note: This episode was recorded on Thursday 19 September 2024. You can read an edited transcript below. https://www.livewiremarkets.com/wires/buy-hold-sell-copper-s-time-has-finally-come-and-2-big-buys 

Uranium prices have cascaded 23% since hitting a high early in the year, now trading at around US$81/lb. However, Argonaut's David Franklyn believes this is a "pretty good long-term price" - arguing that while demand growth will be substantial, supply will eventually kick in.  Despite that, some of the ASX's uranium darlings have still had a pretty impressive 12 months, with Paladin Energy and Deep Yellow, for instance, up 16% and 27% respectively year to date. That said, other plays, like Boss Energy, have not had a good year - with its share price plummeting 22% in 2024.  So, where are fundies seeing value and which uranium stocks should investors be avoiding?  To find out, Money of Mine host Matt Michael was joined by Franklyn and Perennial's Sam Berridge for their analysis of their uranium market, where they believe prices could be headed, as well as some key learnings following the World Nuclear Association symposium. Plus, they also provide their views on a couple of uranium stocks and name two they would label "buys" today.  Note: This episode was recorded on Thursday 19 September 2024. You can read an edited transcript below. https://www.livewiremarkets.com/wires/buy-hold-sell-5-uranium-stocks-as-prices-bottom-out 

Gold prices are trading at all-time highs, with the yellow metal soaring more than 38% over the last 12 months alone. The "safe haven" commodity's price has been driven by continued economic uncertainty, rising geopolitical tensions, a weakening US dollar, and net purchases of gold by global central banks - particularly emerging market central banks in Asia.  But can gold prices continue even higher from here? And if so, which ASX-listed players are likely to benefit?  To find out, Livewire has handed over the reins to our friends in Perth, Money of Mine, for their specialist knowledge of the resources sector.  Host Matt Michael sits down with two Perth-based fund managers with their ears to the ground on all things resources stocks - Perennial's Sam Berridge and Argonaut's David Franklyn.  In this episode, they analyse the lay of the land when it comes to gold, their preferred exposures in terms of established players versus juniors for greater gold price leverage, and share the stocks they would be selling despite the stellar run in prices.  Note: This episode was recorded on Thursday 19 September 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-gold-soars-to-new-highs-but-fundies-are-selling-these-2-stocks/

Investors love a dividend. Not only do they help provide investors with passive income during even the rockiest periods in markets, but they also make up a significant portion of Australian investors' total return over the long term.  While the current outlook for dividends for the Aussie market may not be super hot, some stocks are boosting their dividend payouts over the next 24 months.  So in this episode, Livewire's Ally Selby was joined by Ausbil Investment Management's Michael Price and Martin Currie's Reece Birtles for their analysis of three stocks with strong dividend per share growth expectations in both 2025 and 2026.  Plus, they each share a stock they are buying today given its strong dividend growth expectations in the future.  Note: This episode was recorded on Wednesday 11 September 2024. You can read an edited transcript below. https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-boosting-their-dividends-over-the-next-2-years/ 

Let’s face it: We’re all capable of being mesmerised by headlines. Whether it's a cracking headline on Livewire or an attractive headline price at the shops ($199 is always more appealing than $200), we’re often reluctant to read the fine print or understand what’s going on beneath the surface. But that reluctance can get you into trouble, particularly when it comes to income investing. There is a point at which a headline yield starts to look more like a pitfall than a probability and there are ways to construct portfolios that maximise the income opportunity. If you’re wondering what that point is, then wonder no more. On today’s episode of Buy Hold Sell, Michael Price from Ausbil and Reece Birtles from Martin Currie share with Livewire's Ally Selby the number at which a dividend yield becomes a red flag. They also share the factors they look for when hunting for great income stocks and, of course, a couple of opportunities they particularly like right now.  Note: This episode was recorded on Wednesday 11 September 2024.

While the August reporting season was mixed itself, the dividend outlook isn't so rosy.  Companies are hoarding their cash, with the payout ratio of the Australian market falling from 62% pre-COVID to 53% today, according to Martin Currie.  The dividend yield for the Australian stock market has also fallen in recent years, with the All Ords now yielding 3.70% compared to the historical average of 4.07%.   So, should investors still hold companies that have announced they will be cutting their dividends or slashing them completely?  To find out, Livewire's Ally Selby was joined by Martin Currie's Reece Birtles and Ausbil Investment Management's Michael Price for their analysis of three stocks that have done exactly that.  Plus, for a little bit of a challenge, we asked our guests to name a stock they are buying today despite announcing they would be cutting or culling their dividends at their August reports. Note: This episode was recorded on Wednesday 11 September 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-slashing-their-dividends/ 

If you feel like your portfolio has taken a hit over the last month, spare a moment of silence for shareholders in stocks like Johns Lyng Group, Audinate, Tabcorp, Megaport, A2 Milk, Kelsian, Mineral Resources, EML Payments, Yancoal, Star Entertainment, Cettire, Liontown, Neuren Pharmaceuticals, Red Hill Minerals, and Boss Energy.  All in all, 117 companies in the All Ords shed more than 10% during the month, 29 saw their share prices fall more than 20%, and eight tumbled more than 30%. For context, the All Ords itself ended the month pretty much flat.  So, in this episode, Centennial Asset Management's Matthew Kidman was joined by First Sentier Investors' David Wilson and Medallion Financial's Michael Wayne for their analysis of three stocks that have been smashed over the past month in the hunt for some value on the ASX.  Plus, the fundies also name two stocks they believe have serious upside ahead of them.   Note: This episode was recorded on Tuesday 27 August 2024. You can read the transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-3-stocks-that-have-been-smashed-and-2-big-buys 

Just like the leaders and losers of the ASX 200 in 2024, the August reporting season has been a tale of two halves.  According to FNArena's corporate results monitor, 36% of companies have missed analyst expectations this results season, while 30.4% have delivered beats. 33.7% of companies delivered results that were in line with analyst expectations. Unsurprisingly, there have been more downgrades than upgrades over the past month.  So, to help you digest the good, bad and (let's face it, mostly) ugly of the FY24 earnings season, Centennial Asset Management's Matthew Kidman was joined by Medallion Financial's Michael Wayne and First Sentier Investors' David Wilson.  They analysed some of the recurring themes that emerged over the last month, revealed whether they have made any portfolio changes in light of these, and named some of the companies that really impressed with their results.  Plus, they share the company that they think had the worst result this August.  Note: This episode was recorded on Tuesday 27 August 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/the-best-and-worst-results-this-reporting-season/ 

We've seen some real whiplash market moves this reporting season. Take Megaport, for instance, which fell 21% in one trading day. Or Audinate, which fell 36% on its preliminary results. Or, on the other side of that, WiseTech, which soared more than 18% on its stellar report. But what about the stocks that didn't move, or hardly moved at all - despite releasing solid results this reporting season? In this episode of Buy Hold Sell, Centennial Asset Management's Matthew Kidman was joined by First Sentier Investors' David Wilson and Medallion Financial's Michael Wayne for their analysis of three stocks that did just that. Plus, they named two solid results that believe could make major market moves in the next few months. Note: This episode was recorded on Tuesday 27 August 2024. You can read the edited podcast below. https://www.livewiremarkets.com/wires/buy-hold-sell-5-solid-results-the-market-missed 

Cash flow is a great measure that allows investors to get a good look at how well a company is balancing its earnings against its expenses. Companies with positive and growing cash flows can hire talented people, invest in innovation, make acquisitions, buy back shares and pay dividends. And there are a few companies on the ASX that are currently spewing out a LOT of cash. So, in this episode, Livewire's Ally Selby was joined by Perpetual's Nathan Hughes and Hayborough's Ben Rundle for their analysis of three highly cash-generative stocks. Plus, they each name two cash flow kings of their own. Note: This episode of Buy Hold Sell was recorded on Wednesday 14 August 2024. You can read an edited transcript below. https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-spewing-out-a-hell-of-a-lot-of-cash 

Management teams can make or break a business. Good management teams focus on a company's long-term success, are aligned with shareholders, and are usually good stewards of capital.  Bad management teams, however, may make "transformational acquisitions" that aren't in the best interest of a business, take on too much debt, dilute shareholders, and are more focused on the short term.  Management teams - whether they be founders or hired suits - are particularly important to the success of small and mid-cap companies. These companies need aligned and driven leaders to help navigate the many economic potholes they will likely encounter, and help steer the team so a business can continue on its path to growth.  So, in this episode of Buy Hold Sell, Livewire's Ally Selby was joined by Perpetual's Nathan Hughes and Hayborough's Ben Rundle for their tips on distinguishing the best management teams in the business.  Plus, they name their favourite management teams across technology, financials, retail, healthcare and resources.  Note: This episode of Buy Hold Sell was recorded on Wednesday 14 August 2024. You can read an edited transcript below. https://www.livewiremarkets.com/wires/the-13-best-small-and-mid-cap-management-teams-on-the-asx

Like most things in life, stock sell-offs come down to simple supply and demand. If there are more sellers than buyers, a company's share price will fall. But in today's market, nearly 30 companies now trade at 52-week lows and many others have suffered double-digit losses over the last 12 months. So, are these oversold companies value traps or investable opportunities? To find out, Livewire's Ally Selby was joined by Perpetual's Nathan Hughes and Hayborough Investment Partners' Ben Rundle. They analyse three oversold companies and also name two beaten-down stocks that they believe are a buy today. Note: This episode of Buy Hold Sell was recorded on Wednesday 14 August 2024. You can read an edited transcript below. https://www.livewiremarkets.com/wires/buy-hold-sell-5-oversold-asx-stocks 

Growth stocks had been on a tear in 2024, with investors betting big on rate cuts at the end of the year and throughout 2025. The last month, however, has been a slightly different story.  The NASDAQ 100 has dropped more than 13% since hitting a peak on July 10. And while our local tech tracker, the S&P All Tech Index (XTX) held up relatively well throughout July, the index crashed 8% in the first week of August.  While the last week has been painful for many investors, growth stocks are now far cheaper than they were a few weeks ago. So, is now the time to load up on some of these names?  To find out, Livewire's Ally Selby was joined by Marcus Today's Henry Jennings and Market Matters' James Gerrish for their analysis of five of the fastest-growing stocks on the ASX - according to earnings per share (EPS) expectations for FY25.  Happy bargain shopping!  Note: This episode was recorded on Wednesday 31 July 2024. You can read an edited transcript below. https://www.livewiremarkets.com/wires/buy-hold-sell-5-of-the-fastest-growing-stocks-on-the-asx-for-fy25 

It's no secret that the ASX is incredibly concentrated. 50% of the ASX 200 is made up of banks and miners. In the top 10 stocks on the ASX alone, only three (CSL, Wesfarmers and Goodman Group) don't fit within the financial or materials sectors. The S&P/ASX 200 Financials index has risen 23.99% over the last 12 months, while the Banks index has pushed 27.82% higher. All the indices that track materials and miners, on the other hand, are in the red - except for the index tracking gold companies, which has soared 19.04%. For context, the ASX 200 has lifted 8.88% in the last 12 months.  So, is concentration a curse? Or should we be putting our trust in Mr Market to get it right? To find out, Livewire's Ally Selby was joined by Market Matters' James Gerrish and Marcus Today's Henry Jennings.  They share the risks and opportunities that come with concentration, how they are positioned on banks and miners, as well as one theme (and one stock) they are really excited about over the next 12 months.  And just because we love a dash of drama, we also asked our guests to name a big bank or miner that they would rate a "STRONG SELL" today.  Note: This episode was recorded on Wednesday 31 July 2024. You can read an edited transcript below. https://www.livewiremarkets.com/wires/50-of-the-asx-is-banks-and-miners-should-you-bet-against-the-market 

It's not shaping up to be an easy reporting season, with weakening consumer sentiment and business conditions, as well as a softening labour market, taking a toll on Australia's listed companies.  That said, while analysts believe earnings will disappoint this August results season, with Goldman Sachs and Macquarie predicting a 3.8% and 6% drop respectively, they dangle the carrot for investors - arguing that earnings will rebound over the year ahead.  So which stocks could surprise investors, beating expectations this results season?  To find out, Livewire's Ally Selby was joined by Marcus Today's Henry Jennings and Market Matters' James Gerrish for their analysis of three stocks that could beat consensus predictions for their earnings result this August.  Plus, they also put their necks on the line and each name a stock that they believe will crush it with an earnings beat.  Note: This episode was recorded on Wednesday 31 July 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-likely-to-surprise-to-the-upside-this-reporting-season 

There are many market maxims that investors hold close to their hearts. Here are just a few of them: It's time in the market not timing the market. Buy the rumour, sell the fact. Be fearful when others are greedy. Be greedy when others are fearful! It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.  But perhaps one that should also be added to the list is "Two views make a market" - highlighting that to buy shares in a company, someone has to be willing to sell them - and vice versa.  So in this episode, Livewire's Ally Selby was joined by Loftus Peak's Alex Pollak and Magellan's Alan Pullen for a bit of a challenge.  We've tasked our fund managers to analyse each other's highest-conviction ideas in their portfolios today - including stocks like Netflix (NASDAQ: NFLX), Meta Platforms (NASDAQ: META), Amazon (NASDAQ: AMZN) and SAP SE (NYSE: SAP).  Plus, they also each name a stock that they would dub a high-conviction "SELL". As you'll soon find out, both of these stocks have sunk into the red in the past week.  Note: This episode was filmed on Wednesday 17 July 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-2-high-conviction-fundies-analyse-each-other-s-top-picks/ 

Back in May, Livewire sat down with the chief investment officer of a family office - i.e. the steward of a billionaire client's wealth.  The main takeaway, for this anonymous writer at least, was that Australia's ultra-wealthy are on the hunt for concentrated, high-conviction funds - those that hold a smaller number of stocks, look very different from the benchmark, and generate returns far different from the index too.  So in this episode of Buy Hold Sell, we're hoping we can learn what sets these types of funds apart - and of course, whether investors at home can replicate these strategies too.  To do that, Livewire's Ally Selby was joined by Magellan's Alan Pullen and Loftus Peak's Alex Pollak. They share the case for concentrated strategies, how they identify the stocks that make their way into portfolios, the perfect number of holdings, ideal holding times and turnover.  They also provide an example of a stock that didn't perform as expected and what they learnt from that, their best-performing positions since their funds' inception, and their highest conviction ideas from their portfolio of best ideas for markets today.  Note: This episode of Buy Hold Sell was recorded on Wednesday, 17 July 2024. You can read an edited transcript below. https://www.livewiremarkets.com/wires/why-you-should-only-focus-on-your-best-ideas-and-2-to-get-you-started   

Growth stocks have had a truly spectacular 12 months, with many fortunes being made from investing in stocks like NVIDIA (NASDAQ: NVDA) and Super Micro Computer (NASDAQ: SMCI), which have soared 154% and 170%, respectively.  In the last year alone, the NASDAQ 100 has lifted 26% - meaning, over the past five years, the bourse is now up 153%. Ahh! The benefit of retrospect.  So, is there any value left on offer among the world's greatest growth stocks?  To find out, Livewire's Ally Selby was joined by Loftus Peak's Alex Pollak and Magellan's Alan Pullen.  They analysed three growth stocks, including Qualcomm (NASDAQ: QCOM), Microsoft (NASDAQ: MSFT) and Walmart (NYSE: WMT) and each named a growth stock that they believe has been undervalued by the market.  Happy bargain hunting! Note: This episode of Buy Hold Sell was recorded on Wednesday 17 July 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-5-mispriced-growth-stocks/ 

Healthcare stocks have been some of Australia's most consistent wealth generators, with stocks like CSL (ASX: CSL) skyrocketing more than 6000% since listing on the ASX 25 years ago.   Over the past 20 years, the S&P/ASX Health Care Index has far outperformed the rest of the market, lifting 994% compared to the S&P/ASX 200's 121% over that same period. By a long shot, it has been the ASX's best-performing sector over the past 20 years.   And yet, while COVID-19 put our health back into the spotlight, healthcare stocks have been a mixed bag since then. Yes, the developed world's populations are ageing - which spells good things for healthcare companies, but many of the sector's former darlings are now on life support.   So how can investors identify the companies with a clean bill of health? To find out, Livewire's Ally Selby was joined by two healthcare analysts in Alphinity Investment Management's Stuart Welch and Yarra Capital Management's Marcus Ryan.   They share some of the trends they are seeing in terms of valuation, cost pressures, and supply chain challenges, whether investors need specialist knowledge to be successful when investing in the sector, and the one non-negotiable healthcare companies need to make their way into these fund managers' portfolios.   Plus, they also analyse three healthcare companies, including CSL (ASX: CSL), Ansell (ASX: ANN) and Sonic Healthcare (ASX: SHL), and each name their highest conviction stock pick within the sector.   Note: This episode was recorded on Wednesday 10 July 2024. You can read an edited transcript below. https://www.livewiremarkets.com/wires/buy-hold-sell-2-high-conviction-healthcare-winners-for-fy25 

Consumer stocks are split into two distinct categories - those that are sensitive to economic cycles (discretionaries) and those that aren't (staples). Both, however, have been on a tear over the past 12 months, despite a cost of living crisis that is continuing to take a bite out of Australians' wallets.  Take Lovisa, for instance, which has soared 59% over the past 12 months. Or Wesfarmers, up 35%. Or Nick Scali, up 44%. Meanwhile, consumer staples stocks, like Bega Cheese, Inghams, and Treasury Wine have risen 41%, 35% and 11% respectively.  All this is to say that the sector is looking pretty hot - other than the supermarkets, of course. However, with savings now starting to dry up, and the economy beginning to slow, how much longer can these stocks hold up?    To find out, Livewire's Ally Selby was joined by two consumer-focused analysts in Alphinity Investment Management's Jacob Barnes and Wilson Asset Management's Hailey Kim.  They share where they are seeing opportunities within the two sectors, some of the trends they believe investors should be aware of and outline which factors will be important to success over the coming 12 months.  Plus, they analyse three major players within the sectors and share their highest conviction buys right now.  Note: This episode was recorded on Wednesday 3 July 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/2-big-buys-and-the-next-steps-for-consumer-stocks     

Over the past 12 months, the S&P/ASX All Tech Index has soared more than 28%, while the tech-heavy NASDAQ has skyrocketed nearly 33%, with investors betting big on the revolutionary change promised by artificial intelligence.  That's not to say there aren't risks - inflation remains stickier than we would have hoped, interest rates are likely to stay higher for longer (in Australia at least), and earnings need to deliver for companies to keep pushing higher.  So in this episode, Livewire's Ally Selby was joined by two tech analysts in Wilson Asset Management's Sam Koch and Alphinity Investment Management's Andrey Mironenko.  They analyse three of the market's tech darlings, including Life360 (ASX: 360), NEXTDC (ASX: NXT) and Data#3 (ASX: DTL), share how they are invested in artificial intelligence on the local bourse, and name some of the factors that will be key to investors success over the next 12 months.  Plus, they each name their highest conviction tech stock for markets today.  Note: This episode of Buy Hold Sell was recorded on Wednesday 3 July 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-2-high-conviction-tech-stocks-for-the-next-12-months/ 

Everyone loves a theme these days. Whether you’re an individual investor looking to capitalise on both short and long-term trends, or a product issuer looking to provide access to opportunities, themes are dominating the way we think and the way we invest. And while themes will fall in and out of fashion (lithium, for example), it is important for us as investors to be aware of them and to understand how to access them, should we choose to participate. In that vein, in this episode of Buy Hold Sell we’re unpacking three of the biggest themes from the first half of 2024 and asking if they still have legs. To do that, Grady Wulff sat down with Steve Johnson from Forager Funds Management, and Luke Laretive from Seneca Financial Solutions. And, for something a bit different, Luke and Steve each name a stock they like within each theme – that’s right, six hot buys to see out the rest of the year. Note: This episode was recorded on Wednesday, 19 June 2024.

Boy oh boy, it has been a big first half. Interest rate expectations have whipped around, sticky inflation has confounded central banks, most commodities are surging - paticularly silver and gold - and AI has lit a fire under.... well, everything.  Did we miss anything? That's right, the ASX 200, like many global markets, is trading at all time highs, at the same time many are calling for a recession in the next 12 months.  By any stretch, that's a lot to unpack. To help untangle the market web, Grady Wulff sat down with Steve Johnson from Forager Funds Management, and Luke Laretive from Seneca Financial Solutions.  In this episode, they work through what has and hasn't worked so far in 2024, share what they think will drive markets for the rest of the year, and highlight one thing investors could get wrong over the next six months.  It wouldn't be an episode of Buy Hold Sell without talking stocks, so they each share their worst stock call so far in 2024, as well as one stock they would bet the house on (if they had to).  Note: This episode was recorded on Wednesday 19 June 2024.

End of financial year can be a drag. With tax time upon us, we need to give up an evening, possibly a weekend, to get our affairs in order. But EOFY also affords us the opportunity to look over our investment portfolios, pat ourselves on the back for what has gone well, and undertake the cathartic experience of culling the underperformers.  It has been a surprisingly strong first half, despite high interest rates and inflation sticking around for longer than we would like, so hopefully it will be more of the former, and less of the latter. With all that in mind, Grady Wulff sat down with Luke Laretive from Seneca Financial Solutions and Steve Johnson from Forager Funds Management for their analysis of three of the first half’s hottest stocks - all of which are trading near 52-week highs.  Plus, they also each name a stock that is in the too-hard basket right now.  Note: This episode was recorded on Wednesday 19 June 2024.

Franking credits are important for many investors, particularly those operating in a low or no-tax environment. A company paying a 5% fully franked yield, for example, gets grossed up to around 7% after franking. Juicy.  More than half of the companies listed on the S&P/ASX200 either fully pay or partially pay franked dividends, and it is important to know the relevant franking level.   With that in mind, Livewire's Ally Selby recently sat down with Peter Gardner from Plato, and Andrew Fraser from Merlon to discuss five stocks with sustainable and fully franked dividends.  For those unfamiliar with franking, they also discuss why franking is important and how it factors into their respective investment processes.  Note: This episode was recorded on Wednesday 5 June 2024. 

There are currently 10 stocks with double-digit yields on the ASX, exactly half the amount there was this time last year.  While double-digit yields certainly sound enticing, investors should be aware that they could indicate that the market believes a company has limited growth prospects, a falling share price, or a one-off dividend.  For those not in the know, dividend yield is calculated by adding up all the dividends (both special and normal) paid over the last 12 months and then dividing that value by a stock's current share price. So, are any of these double-digit yields sustainable?  To find out, Livewire's Ally Selby was joined by Plato Investment Management's Peter Gardner and Merlon Capital's Andrew Fraser.  They share at what point alarm bells should start ringing on the sustainability of these yields, and where they are seeing growing yields over the short and long term. They also each name a stock they are backing - which surprisingly, are both incredibly similar - for attractive income over the next few years.  Note: This episode was recorded on Wednesday 5 June 2024. 

With interest rates up 4.25% in the space of two years, investors have entered a Goldilocks era for income. But while many retirees live happily off the income generated by some of the market’s dividend stalwarts, there are potential traps out there. To help ensure you’re investing in companies with sustainable dividend yields, Livewire's Ally Selby was joined by Plato Investment Management’s Peter Gardner and Merlon Capital’s Andrew Fraser for their analysis of three widely owned dividend stalwarts (and for something different, none of these are iron ore miners). Plus, they also call out two dividend darlings they now regard as traps. Note: This episode was recorded on Wednesday 5 June 2024. You can read an edited transcript below:  https://www.livewiremarkets.com/wires/buy-hold-sell-3-dividend-darlings-and-2-traps/

Do you spend your days searching for the next spicy mining stock headed for the moon, a biotech promising revolutionary health advances, or a tech company changing the status quo?  If that sounds like you, you've come to the right place.  While Buy Hold Sell typically focuses on companies at the larger end of the market cap spectrum, this week, we're digging deeper in search of speculative stocks with upside potential.  This includes punter favourite Brainchip (ASX: BRN) - which we repeatedly receive requests to cover, as well uranium up-and-comer Nexgen Energy (ASX: NXG), and buy-now-pay-later company Zip Co (ASX: Z1P) - which have already soared 36%, 14% and 85% since the beginning of the year, respectively.  So are these stocks actually worthy of investors' attention? To find out, Livewire's Ally Selby was joined by IML's Daniel Moore and Tribeca Investment Partners' Jun Bei Liu.  Plus, they also each name a speculative stock in their portfolios that they would be buying at today's prices.  Note: This episode was recorded on Wednesday 22 May 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-5-speculative-asx-listed-stocks-with-upside-potential 

From 1981 to 2022, the MSCI World Quality Index outperformed the MSCI World Index by 2.6% per year - while the growth and value styles generated returns that were pretty much identical to the broader market.  So, is the trend your friend?  In this episode, Livewire's Ally Selby was joined by IML's Daniel Moore and Tribeca Investment Partners' Jun Bei Liu for their thoughts on why investors should be taking a closer look at quality stocks right now - including the factors that investors should look out for when trying to identify the market's quality companies.  They also each name one large cap and one small cap that they believe are the highest quality companies on the ASX. And, just because you all know I love a bit of drama, they also name one stock that the market shouldn't classify as high quality anymore.  Note: This episode was recorded on Wednesday 22 May 2024. You can read an edited transcript below. https://www.livewiremarkets.com/wires/4-of-the-highest-quality-companies-on-the-asx/ 

Time and time again, investment experts tell us punters the same thing - that earnings drive share prices.  When earnings per share is positive and continues to grow in each reporting period, it means that your share in a company's profit pie is continuing to grow as well. Higher EPS can often translate to a company's share price trading higher, as investors are willing to pay more for a company generating elevated levels of profits - particularly if this growth has been consistent over the long term - or is estimated to continue to grow well into the future.  So in this episode, Livewire's Ally Selby was joined by Tribeca Investment Partners' Jun Bei Liu and IML's Daniel Moore for their analysis of three stocks with EPS growth expectations higher than 25% over the next 12 months.  Plus, they each name a stock that they believe has attractive and sustainable earnings growth over the years to come.   Note: This episode was recorded on Wednesday 22 May 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-5-stocks-with-exceptional-earnings-growth/ 

If there is one thing investors have heard on repeat over the last 12 months, it's that there's a massive opportunity in small-cap stocks, which were, at the time, massively undervalued compared to their large-cap counterparts.  And while experts' predictions seem to have come to fruition, with the Small Ordinaries Index outperforming the ASX 100 since the beginning of the year, a handful of stocks - plagued by negative news - have been left behind by the benchmark.  Take IDP Education (ASX: IEL), for instance, which has seen its share price fall around 14% in 2024. Or Bapcor (ASX: BAP), also down 14%. Or Cettire (ASX: CTT), which has retraced the gains made in the early part of the year and is now trading back where it started.  So, in this episode, Livewire's Chris Conway was joined by Datt Capital's Emanuel Datt and OC Funds Management's Aaron Yeoh to see if there is any value in any of these beaten-down stocks.  Plus, they also each name a darling that has been headed higher in recent months - and they believe it can push higher still.  Note: This episode was recorded on Monday 6 May 2024. 

Given interest rates remain at decade-long highs, and hopes of cuts continue to be pushed out into the future, it may be surprising for some that growth companies have continued to go from strength to strength.  The S&P/ASX 200 Growth Index, for example, has risen 7.76% over the past 12 months. In comparison, the S&P/ASX 200 Value Index has lifted just over half of that at 4.71%.  According to OC Funds Management's Aaron Yeoh, this is because a lot of companies have readjusted to a higher interest rate environment and have had a closer look at their cost bases, meaning earnings are now more sustainable for growth companies.    Similarly, Datt Capital's Emanuel Datt believes it's because valuations within small-cap growth opportunities still remain compelling compared to their large-cap counterparts, and in addition, can help investors earn higher returns to keep up with or exceed inflation.   So in this episode, Livewire's Chris Conway sat down with Datt and Yeoh for their tips and tricks for identifying good growth companies on the ASX.  They analyse the financial factors, management requirements, and competitive advantages that they believe are important to winning growth stocks, and each select a stock that ticks all these boxes and more.  Note: This episode was recorded on Monday 6 May 2024.

Growth stocks are the bread and butter of investors who are happy to stomach typically higher prices for exceptional above-market earnings growth.  These companies typically exhibit high earnings and sales growth, a unique product or service, significant market share in their industries, impressive moats, and loyal customers.  Take WiseTech Global, for example, which has seen its earnings grow at a compound annual growth rate of 43% since listing on the ASX, seeing its share price lift 2,319% (and counting) over that same period.  So in this episode, Livewire's Chris Conway was joined by Datt Capital's Emanuel Datt and OC Funds Management's Aaron Yeoh for their analysis of three quality growth stocks with stellar growth trajectories over the next five years. And as a sneak peek, there's only one stock our fundies agree on.  And just because we know you love a stock pick, each of our guests shares a strong buy they are backing over that same time.  Note: This episode was filmed on Monday 6 May 2024.

Just as in science, catalysts are the starting point for major change or action in life. It may be a whistleblower whose revelations lead to significant systemic change, or an enzyme that helps speed up a chemical reaction.  In investing, however, catalysts trigger a drastic change in a stock's share price trajectory. And while no one can know the future, the prediction of catalysts to come can help investors profit over the short term.  This could be new management, an earnings report, a new product/service announcement, legislative change, mergers and acquisitions, broker ratings changes, and for the short sellers out there, short reports.  So in this episode, Livewire's Ally Selby was joined by Elston's Justin Woerner and LSN Capital's Nick Sladen for their analysis of five small stocks with big catalysts on the horizon.  And for those looking for some spicy stocks for their portfolios, only one of these stocks is rated as a sell by one fund manager - and the other believes it is a buy.  Note: This episode was recorded on Wednesday 24 April 2024. You can read an edited transcript below.  https://www.livewiremarkets.com/wires/buy-hold-sell-5-small-stocks-with-big-catalysts-on-the-horizon

Want to learn how to identify undiscovered stocks before the rest of the market does? Of course, you do - what else are you going to talk about at your next dinner party... Or at the pub over a lukewarm beer... Or around the office coffee machine?  In this episode, Livewire's Ally Selby was joined by LSN Capital's Nick Sladen and Elston Asset Management's Justin Woerner for a deep dive into how investors can do exactly that.  They share why investors, like you and I, may have an advantage in discovering mispriced stocks in the typically undercovered small and micro-cap arena, the screens they use to identify winning stocks, and one non-negotiable that every company that makes its way into their portfolios needs to possess.  They also outline the risks investors should be aware of when hunting for gems in this area of the market, and whether it's worth investing in IPOs - because God knows, this anonymous writer has been burnt doing exactly that.  And just to help you level up your dinner party/office/pub chat, we also asked Woerner and Sladen to name an under-the-radar stock they are buying today. You're welcome.  Note: This episode was recorded on Wednesday 24 April 2024. 

There's something to be said about discovering a gem of a stock the rest of the market missed. Like uncovering a musician before the world does, or being the first to watch a TV series before everyone else's eyes are glued to the same screen. It's a great feeling - and one that may leave you asking, 'Am I better than everyone else?'  In most cases, probably not. But to help you on your way, this episode is dedicated to covering under-covered and undiscovered stocks. This anonymous writer is in the camp that everyone deserves a little confidence boost right now - particularly you, my dear reader.  Today's hunting ground is small-cap stocks - given these are typically less covered by analysts. The stocks in this episode have market caps between $500 million and $850 million, so they are also less likely to be in the playing fields of the big fund managers and are more likely to not be on investors' radars.  Livewire's Ally Selby was joined by LSN Capital Partners' Nick Sladen and Elston Asset Management's Justin Woerner for their analysis of these under-the-radar stocks.  Plus, they also each name an overcrowded small-cap darling that could be due for a sell-off from here.  Note: This episode was filmed on Wednesday, 24 April 2024. 

As the name would suggest, future-facing commodities are those that will carry humanity forward as we take on the momentous task of decarbonising the world.   These are the commodities that are essential to the energy transition, including lithium, nickel, cobalt, manganese, graphite and copper.  Much of the demand for these commodities is expected to be driven by the uptake of electric vehicles over the next two decades, with governments around the world - including Europe, China, the US and Australia - providing incentives for people to 'go electric'.  We have already seen spikes in demand (and subsequent supply responses) for many of these commodities. And while the journey will likely remain volatile, on the whole, the wind only seems to be blowing one way;  Most analysts predict that global demand for lithium will double or even triple by 2030, according to Deloitte Demand for battery-grade nickel is expected to increase 50% by 2030, according to Deloitte Cobalt consumption over the last decade has tripled globally due to rising demand for electronics and EVs, and the demand is set to double again by 2035 Macquarie forecasts a doubling in graphite supply over the next decade but predicts a deficit in 2025 due to demand from the EV market Demand from the EV market is expected to take up more than 60% of global graphite demand by the end of 2030 S&P Global Market Intelligence projected in 2022 that annual global copper demand will nearly double from 25 million to roughly 50 million tonnes by 2035  However you slice it, demand for these commodities is only going to grow and, in most instances, the question is whether or not supply will keep that. That will create a host of opportunities.  As such, we sat down with Lowell Resources’ John Forwood & Acorn Capital’s Rick Squire, to get their take on what's hot and what's not when it comes to future facing metals.  Note: This episode was recorded on Wednesday, 10 April 2024. You can watch the video, listen to the podcast, or read an edited transcript below.