Perpetual’s Head of Equities, Paul Skamvougeras is seeing patterns of investor behaviour he witnessed in the lead up to the tech wreck of the early 2000s. Investors are focusing on potential reward without taking proper account of the risks in the market. This is a concerning trend because investors are paying higher multiples for the same earnings stream.
Skamvougeras remains true to label with an uncompromising approach to the quality and price of the companies he owns. In this interview with Livewire Markets, Skamvougeras talks about the late cycle environment, areas of the market he’s currently avoiding and a quality stock currently being overlooked.
- Investor psychology and examples of risk taking in the current market
- Why ‘value’ performed so well in the 5 years post the GFC and why it is struggling today
- Is ‘value’ investing dead?
- Areas of the market that Skamvougeras is avoiding
- Forgotten opportunities – a quality company the market is overlooking
- Reducing exposure to Woolworths
- A common trap for value investors to be aware of
Available to listen
Access a podcast of the discussion on SoundCloud