Where is there value on the ASX?

Note: This extract was taken from Livewire Live 2024’s panel: '5 seismic shifts happening right now and how to take advantage of them' filmed 17 September 2024. You can watch the full panel here.

Where is there value on the ASX?

With the S&P/ASX 200 at all-time highs, it’s a perfectly legitimate question that likely has some not-so-obvious answers.

Matthew Haupt from Wilson Asset Management has been hunting for value in the large pool of companies that have been “massively left behind on a relative basis.”

“Every company we're looking at, we're happy to stay on the defensive side rather than go for the pro-cyclical approach now."

“We can flip quite quickly, but just the opportunity set at the moment is very much on that defensive side – i.e. cheap valuations - for us”, says Haupt.

More specifically, Haupt identified Telstra (ASX: TLS), saying that whilst everyone thinks it’s a boring company, “It’s actually growing again”.

“The data world has moved back towards them. They do have all these sub-sea cables. They're building inner city fibre, a huge rollout, so they're going to get a big return on those assets.

“We think Telstra looks really good”, says Haupt. 

Haupt also likes the healthcare space, noting that CSL Limited (ASX: CSL) looks “interesting” sub-$300. Find out more about Haupt's views in this short video, taken from his appearance at Livewire Live 2024.