If the last decade was about buying growth at any price, this episode is a reminder that valuations still matter. Tobias Bucks (Ausbil) returns to Equity Mates to explain why the next winners may come from overlooked global small caps tied to electrification, defence, data centres and the rebuild of the grid.
In this episode:
0:00 What Tobias has changed his mind on
3:14 Growth investing biases and why valuation matters
9:04 Where the bull markets still exist in small caps
12:04 AI infrastructure boom: are we near peak CapEx?
18:03 Tobias’ investing process: finding quality small caps
25:25 Stock deep dive: Mueller Industries
36:06 Stock deep dive: NKT
ETFs & Stocks mentioned: Trade Desk (NASDAQ: TTD), Ausbil Global Small Caps Fund, Ausbil Global Small Cap ETF, Mueller Industries (NYSE: MLI), NKT (CPH: NKT), Alphabet (NASDAQ: GOOGL), Oracle (NYSE: ORCL), NVIDIA (NASDAQ: NVDA), Prysmian (BIT: PRY), Nexans (EPA: NEX), S&P 500 Index (INDEXSP: INX)
This episode features insights from Ausbil Investment Management. Please refer to Ausbil’s disclaimer here.
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