Скачать с ютуб How to find “explosive growth” stocks outside the ASX 20 в хорошем качестве

How to find “explosive growth” stocks outside the ASX 20

Among ASX mid-caps and the smaller end of large caps ­is where Antares Capital Partners sees the best equity investment opportunities. The common view that among small caps is where you’ll find the best returns is a myth, explains John Guadagnuolo, Antares’ head of fundamentals and portfolio manager “There’s a couple of problems in small caps, which have a much greater dispersion of returns. But on average, returns in small caps are much lower than in mid-caps,” he says. Guadagnuolo also points to the higher reliance on equity raises to fund growth in the small-cap segment – which in turn dilutes growth and reduces the important compounding effect. He also highlights problems at the other end of the spectrum, among the biggest of the large caps. “They run into the problem of saturated market share, mature markets, and they’re mature businesses, so they struggle to grow their earnings per share,” says Guadagnuolo. That’s why the Antares Ex-20 Australian Equities Fund avoids the 20 largest ASX companies. In the following video, Guadagnuolo explains how his team filters the Australian equity market down to a high-conviction list of between 15 and 30 names. The interview reveals details on how they sift stocks as either core or tactical exposures. He also describes how this approach was successfully applied to the purchase – and exit – of stock in a well-known property firm. This enabled investors to benefit from the “explosive growth” period from 2015, when returns were consistently around 20%, before exiting when the company joined the ASX 20, and its returns dropped by more than half. Watch the video or read the edited transcript below to find out more.