Patrick Poke at Livewire hosted us, and we talk Disney, our top picks in digital health, growth investing, and why we’ve been so optimistic.
I also recommend ‘Billion Dollar Molecule’, a mix of Barbarians at the Gate and Liar’s Poker… but for pharmaceutical companies.
Michael FrazisFounder and Portfolio Manager at Frazis Capital Partners, is positive about the outlook for equities. Despite the obvious challenges the world faces, a combination of monetary and fiscal stimulus, and economies that are beginning open back up, should present a perfect setup for growth equities. But that doesn’t mean investors can be blasé about what they buy. He warns that in some popular sectors, prices have gotten too high in some names.
“Even in the hottest parts of the market, where there’s companies trading on 25-35 times sales or more, there are companies trading on a tenth of that. I think it’s extraordinarily important now to dodge some of those companies.”
- 2:57 – Michael’s background and how it shaped his investing strategy
- 5:05 – Why he’s bullish and why rising interest rates are a risk
- 8:53 – Will the bifurcation of growth and value stocks continue, or even accelerate?
- 14:46 – Reconciling companies that consumers love but investors hate
- 20:12 – Something ‘strange’ happened that caused Michael to buy Afterpay, why it’s one of the most impressive businesses around, and what Tencent may be thinking of doing with it
- 25:52 – What he sold, mistakes made and additions to the portfolio
- 29:59 – Why the market is mispricing Disney (NYS:DIS)
- 34:30 – Why Tesla (NAS:TSLA) reminds Michael of Apple (NAS:AAPL)
- 37:25 – Michael responds to our three favourite questions
- Livongo Health