Episode 23: Time to sell? Mike and Claude go through Shopify, EML and other cult stocks in the market right now

Episode 23: Time to sell? Mike and Claude go through EML, Shopify, Wisetech and other cult stocks in the market right now. If you'd like to know more about us see: www.fraziscapitalpartners.com 1:08 - Michael and Claude discuss EML Payments (ASX:EML) 1:44 - The ethical dilemma of EML’s gambling exposure 2:40 - Problems relating to the sale high growth stocks 3:16 - EML’s acquisition of Prepaid Financial Services 3:44 - Accusations from Ownership Matters concerning EML 6:50 - The issue with ‘EBITDA’ as a financial metric 9:05 - Michael and Peter Stevens’ thoughts on EML 10:03 - The long-term threat for EML 10:50 - The macroeconomic impact of the coronavirus  12:10 - Does coronavirus’ growing risk as a pandemic change Frazis Capital’s view of market conditions? 13:45 - Chinese stimulus countering the impacts of the coronavirus 15:35 - Luxury brands negatively impacted by the coronavirus as shopping numbers fall  16:58 - Many Australian technology businesses are still trading at high multiples of sales 18:14 - Michael and Claude discuss Shopify (NYSE:SHOP) and its lofty valuation 22:08 - The global ecommerce opportunity for Shopify 23:30 - The only way to guarantee outstanding returns in fast-growing, high quality businesses like Shopify 25:40 - The pressure to sell Shopify and Frazis Capital’s long-term vision for the company 27:01 - The mentality of never buying at a higher price than a previous sell price  28:20 - Claude discusses his investment in Chant West (ASX:CWL) 29:38 - Chant West’s sale of its business for nearly double the market capitalisation at the time 30:33 - Microcaps more trouble than they are worth? 31:30 - Why Australian smallcap fund managers outperform 33:50 - Why Frazis Capital prefers companies with larger capitalisations 34:38 - People who have left the company and customers are the most useful insights into company dynamics 35:40 - Claude spends a huge amount of time researching the people involved in corporate Australia 37:00 - Frazis Capital’s thoughts on Wisetech (ASX:WTC) and its growth through acquisition 39:20 - J Capital raising questions about Wisetech’s accounting practices 41:25 - Issues regarding Wisetech’s streamlining of products as acquisitions roll in 42:00 - Claude’s failed investment in Vista Group (ASX:VGL) 43:10 - The long-term benefit of being long-only