Portfolio Managers Marcus Ryan (Large caps), Michael Steele (Small caps) and Joel Fleming (Microcaps) sit down with Chris Conway from Livewire Markets to take a deep dive into the big themes, key sectors, and biggest risks and opportunities emerging from the February 2024 reporting season.
Time stamps
0:20 – Characterising the season
2:00 – What were the major themes?
3:47 – AI – is it making an impact on the ground?
5:30 – The shape of the consumer
8:07 – Highlights of the season
9:30 – Cap space deep dive
9:42 – Funding your own growth
11:00 – The most exciting trends in micro-caps
11:46 – Is 2024 the year small-caps catch up?
13:35 – Where do small-cap valuations sit compared to history?
14:38 – Expensive defensives – are they still expensive?
16:49 – The big miners and their dividends – are they sustainable?
18:27 – Key themes from the season: Lithium
22:18 – A less loved commodity: Copper
25:35 – This sector makes up almost one-third of the market: Financials