It's important to always invest at 'good value' when you're putting your hard-earned money to work.
The market is quite expensive at the moment so it's difficult to find bargains at these levels. However, that doesn't mean that every single stock isn't trading at good value.
I think the following few shares are worth a buy at the current prices:
WAM Microcap Limited (ASX: WMI)
WAM Microcap is the newest listed investment company (LIC) to be launched by Wilson Asset Management. The portfolio has already generated a return of 14.8% since it listed in June and I expect that there will be a lot more impressive updates to come over the next year.
This LIC focuses on the smallest shares on the ASX, this area of the share market is usually left alone by most other professional and retail investors. That's why the WAM team can really use their expertise with this special area of the market.
I think WAM Microcap is a good buy today because it's trading at a much lower premium to NTA compared to the other WAM LICs. The current premium is only 8.2% to the latest reported NTA.
Class Ltd (ASX: CL1)
Class is one of the more exciting software companies on the ASX. It provides valuable and time-saving software to self-managed superannuation fund (SMSF) administrators.
The share price has dropped by around 30% since the start of October, but I think this just makes it a much more appealing share because of the value it now presents investors.
The shift to cloud accounting has slowed in recent months but there are still many thousands of funds that are making the change.
If Class can continue to grow margins and increase its SMSF market share then it should be an impressive winner in the future, particularly if it can grow its non-SMSF product as well. Class Portfolio has the potential to be as big as Class Super because there are a huge number of companies and trusts that have share portfolios too.
Blue Sky Alternatives Access Fund Ltd (ASX: BAF)
Australians are very knowledgeable about shares and real estate. There are other asset classes that are also worth considering.
Blue Sky offers investors exposure to directly-managed assets like water credits, student accommodation and private equity.
It's the first of its type on the ASX and I'm very interested to see how the business goes over the next few years. I will be particularly interested to see what happens through a recession.
Either way, I'm looking to add this company to my portfolio at some point in the medium-term future.
Foolish takeaway
I think both Class and WAM Microcap are very attractive at the current prices. If I had to choose one I'd pick WAM Microcap because it invests in businesses that are much smaller than what I normally choose, giving exposure to a different area of the market for my portfolio.
