When everyone's anxious about interest rates, inflation, and the economy, it might make sense to seek ASX shares that don't have their entire fortune dependent on such external factors.
A business with its destiny in its own hands is an excellent investment at any time, but is especially useful when the rest of the world is dealing with turbulence.
Seneca Financial Solutions investment advisor Tony Langford this week named two ASX shares that he would buy that fit exactly that criteria:
Image source: Getty Images
'Rapidly emerging scale'
Carnaby Resources Ltd (ASX: CNB) is a mining explorer with copper and gold interests in Western Australia and Queensland.
Langford is bullish on one particular project.
"Recent drilling at the Greater Duchess copper and gold project delivered encouraging intersects at Mount Hope, confirming high purity and high concentrate along strike that adds to its rapidly emerging scale," Langford told The Bull.
"This project could be fast tracked given its close proximity to infrastructure."
The Carnaby share price is almost 22% higher than where it started the year. But there is still a relative buying opportunity with the stock having plunged 26% since a 17 April peak.
Although the $190 million junior miner is not covered widely, CMC Markets encouragingly shows two analysts recommending Carnaby as a strong buy.
'A strong customer order book'
Perhaps a better-known and less speculative buy is ASX veteran ARB Corporation Ltd (ASX: ARB).
"ARB supplies 4-wheel drive accessories to Australian and international markets," said Langford.
"In recent years, the company has engaged with the Ford Motor Co (NYSE: F) to provide accessories to a bigger US growth market."
ARB has also been busy with new products.
"We expect the recently launched earth camper trailer to be popular among its loyal customers," said Langford.
"This innovative company is focused on supporting export markets."
The ARB share price has fallen nearly 5.5% since a 12 May peak, but Langford is nevertheless bullish.
"A strong customer order book supports a brighter outlook."
