Stephen English joined the piworld Thursday webinar to give an unparalleled insight to small cap investing in COVID-19 markets. Full of wisdom and wit. It's a must watch.
Warning! It is just over an hour long, and packed full of rich content. You might need two sittings!
Intro – 00:19
Give us a very short overview of your background – 00:42
What’s your thoughts on the current market, did you see it coming? – 01:17
Do you think the market has hit the bottom? – 04:17
What is your strategy? – 16:50
Has this changed the business case for any companies you hold? – 24:25
Liquidity: Could you sell if you wanted to? – 27:13
Who will be the winners? – 31:29
Who will be the losers? – 39:29
What are you looking for in companies? – 44:46
Do you think there will be a credit squeeze, everyone holding onto their cash, so severe cashflow pressure? – 46:54
Will there be more M&A: survival of the fittest? Do you see this in any specific sector? – 47:46
What sort of recovery do you think we will have? U, V, W, L or a letter that doesn’t exist? – 50:57
And what structurally will change? (Supply chain, etc) – 54:11
How will government monetary and fiscal policy be financed? Do you think the IHT BPR status is in danger, or other taxes imposed? – 57:15
Q & A 1:02:43
Companies mentioned: Tristel (TSTL). Accrol (ACRL). Smart Metering Systems (SMS). Begbies Traynor (BEG). FRP Advisory (FRP). Strix (KETL). Tracsis (TRCS). Oxford Metrics (OXG). Shoe Zone (SHOE). K3 Business Technology (KBT) Alliance Pharma (APH). EMIS (EMIS). The Property Franchise Group (TPFG). Hollywood Bowl (BOWL). RA International (RAI).
Stephen provides some penetrating insights into the Covid-19 Crash - a very timely interview. It'll be interesting to see whether 'the wisdom of crowds' is validated and the surveyed audience correctly forecast the shape of the recovery?
An excellent contribution - well done Stephen and Piworld.
