Some investors might be ready to hang up their boots after the most recent episode of market volatility, but I'm not one of them!
In fact, the events of the last week or so have made me even more determined to find shares that I can buy to bolster my investment portfolio.
While the outlook for the remainder of 2016 is a little unclear right now, there are a number of shares that are entering my 'buy zone' including:
Star Entertainment Group Ltd (ASX: SGR)
Shares of Star Entertainment have fallen around 20% as a result of the events impacting Crown Resorts Ltd's (ASX: CWN) VIP program in China. While there is still some uncertainty surrounding the situation at the moment, I believe this has already been priced into Star's current valuation. The company continues to benefit from the surge in tourists visiting its world class properties and earnings should accelerate over the coming years as the company realises the benefits from its extensive capital investment program.
Corporate Travel Management Ltd (ASX: CTD)
Corporate Travel has been one of Australia's greatest business success stories with operations now spanning across 53 countries. Importantly, the company has been able to achieve huge levels of growth through the combination of organic growth and earnings accretive acquisitions. Although the long-term outlook for Corporate Travel is extremely promising, investors should be weary that the recent strength of the Australian dollar could make it harder for the company to reach the top of its recently re-affirmed guidance. Nevertheless, I would take any significant share price weakness as an opportunity to buy this world-class business.
Sirtex Medical Limited (ASX: SRX)
The market has become less enthusiastic about the prospects of this fast-growing biotech company, despite management recently guiding for another year of double-digit dose sales growth. The shares now trade at an attractive 32% discount from their 52-week highs and a historically low forward price-to-earnings ratio of 23. Sirtex should also get a nice tailwind should the U.S. dollar strengthen from current levels.
Freelancer Ltd (ASX: FLN)
Freelancer shares have taken a battering since mid-October after the company released a weaker-than-expected September quarterly update. Despite reporting a record quarter for jobs posted and a healthy increase in cash receipts, investors were clearly disappointed by the weak performance from the recently acquired Escrow.com business. Nonetheless, Freelancer's core business remains well placed to attract a growing proportion of the global workforce through a platform that is increasingly scalable.
