Already a subscriber?Sam Byrnes is portfolio manager of ECP Asset Management’s Growth Companies Fund. The Sydney-based firm oversees around $2.9 billion in assets.
It is events like this that often throw up opportunities to buy great businesses at attractive prices. All of these factors should see its return on capital substantially improve over the next five years. The market also often underestimates the value of its countercyclical earnings profile. We’d be happy with $500 in five years.One standout is ResMed. Towards the end of 2023, the company derated due to the frenzy surrounding theThis raised concerns about the future of ResMed’s sleep apnoea treatment.
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