Allan Gray: Distortions are creating opportunities

Contrarian stock picker Simon Mawhinney says price incentive market participants are creating 'good deals' for patient investors. In this interview, Simon discusses distortions on the ASX, the stocks he believes offer potential on the ASX and the toughest position of his 20-year career at Allan Gray. Summary article: https://www.livewiremarkets.com/wires/allan-gray-distortions-make-some-stocks-expensive-these-ones-look-cheap Time Codes 0:00 - Introduction 0:32 - Pervasiveness and drivers of market dislocations 2:52 - What will change the current market distortion? 5:06 - Examples of concentration in the top 10 ASX companies 6:52 - The Federal Budget's impact on credit growth and productivity 10:54 - Rising pool of opportunities vs. falling market liquidity 12:57 - Woodside Energy (ASX: WDS) thesis and Exxon takeover rumors 17:25 - Healthcare sector exposure and CSL Limited (ASX: CSL) analysis 21:35 - High conviction in Ansell (ASX: ANN) 23:46 - Views on the Technology sector (Car Group, Xero, Life360) 27:03 - New ideas and portfolio reallocations 28:38 - Reflecting on 20 years and the most challenging contrarian holding (Alumina Limited) Dislcaimer: Disclaimer: The information in this video is of a general nature only. It is not personal financial product, tax, legal, or investment advice. It has been prepared without taking into account your individual objectives, financial situation or needs. This video represents Allan Gray Australia’s view at a point in time and provides reasoning or rationale on why we bought or sold a particular security for the Allan Gray Funds. We may take the opposite view/position from that stated, as circumstances change. Before acting on anything in this video, you should consider its appropriateness to you, having regard to your objectives, financial situation and needs. You should obtain and consider the relevant Product Disclosure Statement (PDS) relating to any products mentioned, before deciding whether to acquire, or continue to hold, any products. A copy is available from www.allangray.com.au in the ‘Forms and Documents’ section. Equity Trustees Limited ABN 46 004 031 298, AFSL No.240975 is the Responsible Entity and Issuer of units in the Allan Gray Funds. Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX:EQT). Past performance is not a reliable indicator of future performance, and there are risks with any investment. Neither Allan Gray Australia, Equity Trustees nor any of its related parties, their employees or directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it.