Good Value | Pragmatic Value Investing

Life after SIVB and CS: Winners and losers in global financials

Following the recent bank crises in the US and Europe, Alison Savas and James Rodda discuss the vulnerabilities that remain within global financials, along with the relative winners and losers that could emerge.

The episode also covers potential investment opportunities given the dislocation in US and European financials, including insights into our portfolio holdings UniCredit (BIT: UCG) and ING Group (AMS: INGA).

Key times:

• The unravelling of Silicon Valley Bank: 02:25
• The consequences of the SIVB crisis & longer term impacts on the banking system: 06:30
• The winners a losers in the global banking system moving forward: 14:00
• Credit Suisse and the European banking system: 17:50
• Looking for buying opportunities in global financials: 22:30
• What all this means for the Fed's next move: 25:40

More about Antipodes: https://antipodes.com/

Follow Antipodes on LinkedIn: https://www.linkedin.com/company/antipodes-partners/

Stock commentary you hear in this episode is illustrative only and not a recommendation to buy, hold, or sell any security. 

Dr Christian Bruch on the energy transition

Siemens Energy (ETR: ENR) is a global leader in wind turbines, utility-scale gas turbines, and grid transition equipment. 

In this episode, Siemens Energy CEO, Dr Christian Bruch, provides insights into the demand for wind energy (in particular offshore wind), the role of gas, and shares perspectives on the challenges the world faces in the transition to net zero along with the enormous scale of investment that's required. 

Key times:

• The net zero ‘trilemma’ & are the targets achievable? – 02:40
• The critical role of wind energy – 06:00
• Bottlenecks in delivering sufficient offshore wind infrastructure – 12:10
• Profitability of wind projects – 18:20
• The role of gas in decarbonisation – 27:30
• The enormity of the energy grid investment required to facilitate net zero targets – 31:00

Individual stock commentary is illustrative only and not a recommendation to buy, hold, or sell any security. 

Antipodes website: antipodes.com

Antipodes on Linkedin: Antipodes Partners

Quarterly update: Why US stocks could fall further + the case for investing in gold (Q4 2022)

Alison Savas is joined by Rameez Sadikot, Portfolio Manager and head of Antipodes Quant, Macro and Currency. 

In part 1 (1:00 - 15:00), Alison and Rameez discuss the state of global equities - including Antipodes' views on markets and the macro in the US, Europe and China. 

In part 2 (15:00 - 27:00), the discussion turns to gold. After a lacklustre performance through most of 2022, investors are once again beginning to pay attention to gold. Alison and Rameez share Antipodes' views and due diligence.

Finally, hear the investment case for Australian gold mining giant, Newcrest Mining (ASX: NCM)* (27:00 - 30:00).

*Individual stock commentary is illustrative only and not a recommendation to buy, hold, or sell any security. 

Antipodes website: antipodes.com

Antipodes on Linkedin: Antipodes Partners

Antipodes’ sector-specific investment outlooks for 2023

Four members of the Antipodes investment team join this episode to discuss sector-specific outlooks for 2023. Sectors covered include:

• Hardware, Industrials and Commodities
• Healthcare
• Domestic Asia and EM
• Domestic Developed Markets.

This is our final episode for the year. We thank you all for listening and wish you a safe and happy holiday period. Remember to follow us on LinkedIn or Twitter to stay up to date with our insights. 

Investing in Emerging Markets

In this episode, Alison Savas, talks with Antipodes Emerging Markets co-portfolio managers Sunny Bangia and John Stavliotis. 

They discuss why investors should consider Emerging Markets now, along with some of the key opportunities across emerging economies - including Mexico, Indonesia and Brazil. 

Quarterly update: Outlook for global stocks amid escalating geopolitical tensions & economic volatility (Q3 2022)

Escalating geopolitical tensions, Xi Jinping’s consolidation of power in China, and the US Fed’s economic ‘balancing act’ are some the most significant issues dominating the macroeconomic backdrop for global investors as we move into the final quarter of the calendar year.

In Part 1 (00:30) of this new podcast episode, Alison Savas and Sunny Bangia provide listeners an insight into the way Antipodes is approaching these global affairs and the anticipated consequences for investors.

In Part 2 (20:00), Alison and Sunny provide an update on Antipodes’ portfolio positioning and discuss portfolio holdings, Merck and Co (NYSE: MRK) and Diageo (LON: DGE)*.

Antipodes website: antipodes.com

Antipodes on Linkedin: Antipodes Partners

*Individual stock commentary is illustrative only and not a recommendation to buy, hold, or sell any security. 

Antipodes’ approach to shorting

Through the recent decade-long bull market many have viewed short positions as simply a drag on performance. But in 2022 the regime has shifted. Portfolio protection has come back to the fore with the S&P 500 shedding around a quarter of its value so far this year, and concerns about global economic growth and central bank policy rising.

In this episode, Alison Savas and Jacob Mitchell discuss Antipodes’ approach to short selling and examine the case for Snap Inc. (NYSE: SNAP).

RWE’s Michael Muller on Europe’s power crunch

German energy giant, RWE, is faced with the challenge of helping to power a continent in the midst of a power crunch, while at the same time working towards ambitious decarbonisation targets.  

In this episode, Alison Savas, talks to RWE's Chief Financial Officer, Michael Muller on the energy crisis, decarbonisation and RWE's operations. 

Quarterly update: The time for a contrarian mindset (Q2 2022)

In this quarterly market update episode Alison Savas and Antipodes CIO, Jacob Mitchell, discuss the state of equity markets in Q2 2022 and Antipodes bigger picture views on global investing and portfolio positioning.

Seagate Technology : Uncovering value amid the Nasdaq bear market

 

Tech stocks have borne the brunt of the recent sell off in equity markets and with the Nasdaq firmly in bear market territory, it is unprofitable tech stocks that have been hit the hardest - down almost 60% this year.

 

But amid these sell offs, there can be category leaders that fall to attractive valuations, relative to their long-term growth profile. Antipodes thinks Seagate Technology (NASDAQ: STX) is one of those leaders, and it's priced at just 8x next year’s earnings.

 

In part one of this episode (2:20), Alison Savas speaks to Seagate's CFO, Gianluca Romano. In part two (22.00), Alison Savas and Graham Hay (Antipodes Portfolio Manager of Hardware, Industrials and Commodities) discuss the Seagate investment case.

 

Disclaimer: 

All content in respect of the Antipodes Global Shares (Quoted Managed Fund) (ARSN 625 560 269), the Antipodes Global Fund – Long (ARSN 118 075 764), the Antipodes Global Fund (ARSN 087 719 515), and the Antipodes Asia Fund (ARSN 096 451 393) is issued by Pinnacle Fund Services Limited ABN 29 082 494 371 AFSL 238 371 (“PFSL”) as responsible entity of the Funds and is prepared by Antipodes Partners Limited (ABN 29 602 042 035) (AFSL 481580) (“Antipodes”) as the investment manager of the Trust. PFSL is not licensed to provide financial product advice.

The information provided is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision in respect of the Funds, you should consider the current product disclosure statement (PDS) and Target Market Determination (‘TMD’) of the Funds and the Fund’s other periodic and continuous disclosure announcements lodged with the ASX, which are available at www.asx.com.au, and assess whether the Fund is appropriate given your objectives, financial situation or needs. If you require advice that takes into account your personal circumstances, you should consult a licensed or authorised financial adviser.

Neither PFSL nor Antipodes guarantees repayment of capital or any particular rate of return from the Funds. Neither PFSL nor Antipodes gives any representation or warranty as to the currency, reliability, completeness or accuracy of the information contained in this content. All opinions and estimates included in this website constitute judgments of Antipodes as at the date of website creation and are subject to change without notice. Past performance is not a reliable indicator of future performance.