WaveStone: On Our Wavelength

Stock analysis involves more than just financial modelling.  The insights gleaned from meeting with management teams, customers, suppliers and competitors provides context and colour into the quantitative factors that can drive share prices.  A deeper understanding of a company’s strategy as well as site visits can bring unique insights into the practical realities of, for example, manufacturing and new innovations.  WaveStone invest in Australian businesses with a global perspective so international travel brings a deeper level of knowledge of not only the company but the industry in which they operate. WaveStone Deputy Portfolio managers Kirsty Mackay-Fisher and Anthony Tan recently returned from research trips to the US and their learnings inform their investment decision making. In this episode, they share what they learned across sectors as diverse as healthcare, technology, logistics and gaming.

In this edition of On our Wavelength, Raaz Bhuyan and Kirsty Mckay-Fisher discuss the August earnings season, the importance of a quality management team when evaluating businesses and the impact of economic factors such as rising interest rates on investment strategies.

Lithium is the trending topic in resources with decarbonisation providing opportunities beyond Australia's heartland of coal and iron ore. Hear from WaveStone Capital's Raaz Bhuyan and Luke Nelson on how they are allocating capital across both large resources companies and the emerging growth opportunities.

The end of China’s zero Covid Policy has spurred a dramatic turnaround in not only China’s equity market, but also those with China-linked revenues.  The opportunity for Australia has historically been in resources, but WaveStone Capital think it will be different this time.  Hear from Raaz Bhuyan, Principal and Portfolio Manager on the opportunities for investors as the biggest contributor to global economic output opens its doors.

WaveStone Capital's Henry Hill and Kirsty Mackay-Fisher recently travelled to the Northern Hemisphere, visiting a large number of companies and gaining insights on the impacts of inflation and a slowing consumer. Hear their insights and observations of the outlook for the Australian share market in this latest episode of On Our Wavelength.

While consumer spending continues to be robust, the impact of inflation, higher rates and higher energy costs will become more acute over the coming months. Consumer discretionary stocks are out of favour and defensives such as staples have attracted significant capital. Hear from WaveStone Capital’s Catherine Allfrey and Raaz Bhuyan as they share their insights from reporting season as well as discussions with management teams. With labour shortages, absenteeism, rising costs and slowing demand front of mind for Australian businesses, Catherine and Raaz will share which companies are most impacted and where they see more resilience.