Quiet Contrarian. Ep59: Trades for August 2024
Buys
Acrow Ltd – ACF.ASX – Well run services company, and have been spruiked by Under the Radar, and the FNArena brokers for some time now. The market didn’t like the latest announcement, management has still guided for 20% revenue growth. They seem to have consistent earnings, and it feels like all the infrastructure spend will continue for a while longer. Bought the dip.
Close the Loop Group – CLG.ASX – Interesting company, but maybe a bit scattered and unfocussed, playing in the “circular economy” and recycling space. Have a real diversity of products (from computer repair/refurb, to soft plastic recycling, to additives for better asphalt), and I’m not sure this is a strength. Huge one-off payment tanked FY24 earnings, bought on price weakness.
Civmec Ltd – CVL.ASX – Construction and engineering services company to multiple industries. Founder led and has great margins and return on equity. Currently trading cheaply, which seems to be because they are re-domiciling back to Australia, and foreign investors are cashing out.
Sells
Regis Resources Ltd – RRL.ASX – McPhillamys got shut down by the NSW government, I finally decided to just clear these guys out. Had been a weight in my portfolio for some time now, just kept missing and missing and missing. Maybe not the best timing, but happy to have moved them along.
