Three things that got the team talking this week - Firetrail Investments

Weekly insights from the Trail

Three things that got the team talking this week

February 24, 2023March 3rd, 2023

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1. We don’t want no scrubs…

Australian High Conviction Fund holding The Lottery Corporation, or TLC, delivered a strong result this week. A key strength of the result was that they have grown the active user base and seen digital penetration settle structurally higher than pre-covid. This increase in the number of active registered customers, shown in the graph below, shows their ongoing digital strategy is driving user engagement, which we expect will set them up for further growth.

Source: The Lottery Corporation

Companies mentioned are illustrative only and not a recommendation to buy or sell any particular security.

2. Buy and don’t hold…

The average US stock holding period has fallen from 5 years in 1977 to 10 months in 2023. Good news for S3 Global Opportunities Holding Interactive Brokers.

Source: WFE and IMF

Companies mentioned are illustrative only and not a recommendation to buy or sell any particular security.

3. No consensus is the consensus…

The spread between the most bullish and bearish analysts year end predictions for the S&P500 are the widest in 15 years.

Source: Bloomberg, Evans

Disclaimer

This article is prepared by Firetrail Investments Pty Limited (‘Firetrail’) (ABN 98 622 377 913, AFSL 516821) as the investment manager of the Firetrail Australian High Conviction Fund (ARSN 624 136 045), the Firetrail Absolute Return Fund (ARSN 624 135 879), the Firetrail Australian Small Companies Fund (ARSN 638 792 113) and the Firetrail S3 Global Opportunities Fund (ARSN 653 717 625) (‘the Funds’). Pinnacle Fund Services Limited ('PFSL') (ABN 29 082 494 362, AFSL 238371) is the product issuer of the Fund. PFSL is not licensed to provide financial product advice. PFSL is a wholly-owned subsidiary of the Pinnacle Investment Management Group Limited (‘Pinnacle’) (ABN 22 100 325 184). The Product Disclosure Statement (‘PDS’) and Target Market Determination (‘TMD’) of the relevant Fund are available via the links below. Any potential investor should consider the PDS and TMD before deciding whether to acquire, or continue to hold units in, the Fund.

Links to the Product Disclosure Statement: WHT3810AU, WHT5134AU, WHT3093AU, WHT7794AU

Links to the Target Market Determination: WHT3810AU, WHT5134AU, WHT3093AU, WHT7794AU

For historic TMD’s please contact Pinnacle client service Phone 1300 010 311 or Email service@pinnacleinvestment.com

This communication is for general information only. It is not intended as a securities recommendation or statement of opinion intended to influence a person or persons in making a decision in relation to investment. It has been prepared without taking account of any person’s objectives, financial situation or needs. Any persons relying on this information should obtain professional advice before doing so. Past performance is for illustrative purposes only and is not indicative of future performance.

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