3 stocks Eiger Capital is buying and one it has just sold out of
Eiger Capital’s Stephen Wood shares why he is overweight IT services and underweight consumer discretionary right now.
The below was produced by Livewire Markets and published on 15 June 2023.
There have been a few major topics that have taken up far too many pages of Australia’s financial media outlets in 2023.
Think the possible peak of interest rates both locally and abroad, the potential for recession, and the rebound we have seen in mega-cap tech over in the US.
While the first two questions remain unanswered, the meteoric rise in tech stocks is happening in the here and now. Nvidia (NASDAQ: NVDA), for example, has risen 172% in the past five months alone.
But it’s not just the US tech giants that have seen their share prices soar in 2023. Since the beginning of the year, the S&P/ASX All Technology Index has risen more than 20%.
In this interview, Eiger Capital’s Stephen Wood shares why he is overweight IT Services right now (and reveals three stocks he is backing over the year ahead).
He also reveals why he is underweight the consumer discretionary sector, as well as a handful of red flags he believes could be helpful for investors trying to navigate today’s volatile market environment.
Note: This interview was recorded on Thursday 25th May 2023. You can watch the video below.