Another annual Sohn Hearts & Minds Investment Conference has come to pass today. Charlie Munger warned of bubbly valuations reminiscent of the dot-com era, a few ASX-listed shares received a shoutout, and attendees walked away with a lot of ideas to ponder.
While ASX investors only had a few Australian stock picks, the raft of ideas for international opportunities was extensive. Investing experts laid down investment opportunities situated in Hong Kong to London and everywhere in between.
What shares are the experts betting on?
Investors will be busy tonight trawling through annual reports and doing research after being bombarded with investment opportunities today. Although, out of the 13 speakers, only three mentioned ASX-listed shares as their highest conviction pick — and out of those three, one was a tip to short shares.
Shares in Flight Centre Travel Group Ltd (ASX: FLT) finished flat today despite Regal Funds chief investing officer Philip King placing a target on the company’s back. At the conference, King made his belief known that the company’s shares are overpriced considering the trouble it might have ahead of it still. Namely, the pressure it could face by more competitive online travel offerings.
On the other hand, both Megaport Ltd (ASX: MP1) and Pinnacle Investment Management Group Ltd (ASX: PNI) copped rave reviews by Eleanor Swanson and David Allingham respectively. Notably, Swanson named Megaport as “the most exciting tech adventure of this decade”. The shares in both ASX-listed companies finished the day higher.
Beyond these top picks for 2022, the industry experts delivered a long list of companies that local investors might not have heard of before. However, as we found out, these obscure investment opportunities might be more familiar than originally thought.
For instance, Qiao Ma’s pick of Techtronic Industries Co. Ltd. (HKG: 0669) is the seller of numerous power tool brands including Milwaukee and Ryobi.
All 13 investment opportunities for 2022 revealed
Every stock pick from the Sohn Hearts & Minds Investment Conference is listed below:
|Share pick||Share price||Market Capitalisation||Speaker|
|Bengo4.com Inc (TYO: 6027)||$6,030||A$1.68 billion||Jay Kahn|
|Techtronic Industries Co Ltd (HKG: 0669)||$172.80||A$57.51 billion||Qiao Ma|
|Avalara Inc (NYSE: AVLR)||$132.99||A$16.34 billion||Babak Poushanchi|
|Megaport Ltd (ASX: MP1)||$20.99||A$3.31 billion||Eleanor Swanson|
|Spotify Technology (NYSE: SPOT)||$228.54||A$61.87 billion||Hamish Corlett|
|Delivery Hero (ETR: DHER)||$107.40||A$43.92 billion||Beeneet Kothari|
|GitLab Inc (NASDAQ: GTLB)||$91.23||A$18.39 billion||Yen Liow|
|Flight Centre Travel Group Ltd (ASX: FLT)||$17.24||A$3.44 billion||Phil King|
|ON Semiconductor Corp (NASDAQ: ON)||$62.54||A$38.07 billion||Nick Griffin|
|Wise PLC (LON: WISE)||$738.25||A$13.78 billion||Markus Bihler|
|Beauty Health Co (NASDAQ: SKIN)||$23.81||A$5.03 billion||Joyce Meng|
|Coinbase Global Inc (NASDAQ: COIN)||$284.71||A$86.58 billion||Gavin Baker|
|Pinnacle Investment Management Group Ltd (ASX: PNI)||$15.82||A$3.15 billion||David Allingham|
Despite the enthusiasm from these stock pickers, a cloud of scepticism was cast by Berkshire Hathaway‘s Charlie Munger. The renowned longtime investor put some doubt on current market valuations with his commentary, saying:
Some of the valuations we saw in the dot-com era were higher. But overall I consider this even crazier than the dot.com era.
In addition, Munger handed down his grilling critique of cryptocurrency. Warren Buffett’s right-hand man said, “I wish they’d never been invented.”
All in all, it was an incredibly eventful day. But now, investors have a bigger bank of potential share ideas for the year ahead.