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

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Three things that got the team talking this week

November 8, 2024

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1. Looking for your next job?

Home health is projected to be the fastest growing job category in the US over the next decade. Software developers and restaurant cooks are also right up there!

Source: Visual Capitalist (November 2024)

2. Capital rising

For the Mag7, AI both a competitive threat and opportunity. Capex budgets for the Mag7 continue grow quickly.

The below chart show how the once capital light businesses are becoming a bit more capital heavy. Game theory suggests it’s going to be hard to pull back given most of the players have had success by being the leader in their field.

For 2025, Mag7 estimates are for 300bn!

Source: S&P Capital IQ (November 2024)

3. US voting was one way traffic

Voting showed that all but two states gravitated towards the Republicans vs the prior election. A resounding victory for Trump.

Source: Financial Times (November 2024)

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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

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