Episode 25: Market sell-off and interesting times

Peter Stevens joins us to talk about the market sell-off, how we're positioned, and interesting opportunities that we've found.  If you'd like to know more about us see: www.fraziscapitalpartners.com Peter writes his own market commentary here:  https://insufficientcapital.com/ 0:24 – Peter wipes away his tears 0:50 – There’s growth and then there’s growth (e.g. Afterpay vs Zip) 1:30 – Why you should pay up for quality businesses 2:17 – Illiquidity during sell-offs 2:50 – Electro Optic Systems (ASX:EOS), a great business that does not fit ESG criteria 3:35 – Analysing quality within the WAAAX (the Australian equivalent of the FAANG) 4:54 – Frazis Capital’s avoidance of education and tourism stocks 5:50 – Peter and Michael look at Qantas (ASX:QAN), Australia’s major airline 7:40 – Theoretically maintaining a 20% cash position 8:00 – Michael discusses Ray Dalio’s “Principles” 9:25 – Carvana (NYSE:CVNA), Frazis Capital’s largest coronavirus casualty 10:22 – Afterpay’s (ASX:APT) accelerating growth and Frazis Capital’s internal forecasts 11:40 – Afterpay’s US in-store opportunity 12:30 – The benefits of an equities/treasuries strategy over popular options strategies 13:43 – Global stimulus packages and expansionary monetary policy 14:13 – Renewable energy businesses and how they may benefit from stimulus packages 14:45 – Twist Bioscience (NASDAQ:TWST), a well-performing Frazis Capital position 15:30 – Viruses tend to become less dangerous with time because of evolutionary pressures 16:55 – Gilead’s (NASDAQ:GILD) antiviral drug and the coronavirus 17:25 – Some Aussie smallcaps touting business expansion into virus-induced growth industries (e.g. hand sanitizers, diagnostics) 18:30 – The panic in supermarkets parallels the panic on markets 19:08 – “Buy when there is blood in the streets” (Baron Rothschild) and its relevance to this sell-off 19:25 – The origins of Rothschild’s famous blood in the streets quote 20:45 – Frazis Capital portfolio construction during the coronavirus sell-off 21:55 – Zoom’s (NASDAQ:ZM) coronavirus rally and its rich valuation 23:00 – Peloton (NASDAQ:PTON) and Carnival (NYSE:CCL), two stock picks from NYU Professor, Scott Galloway