25 Mar 2019
Cyan Investment Management’s Dean Fergie is a bit of a fan of turnaround stories: he’s invested in Murray River Group (ASX:MRG), the raisin-growing small cap that got two months of lift after listing before starting a seemingly endless plunge, and likes Motorcycle Holdings (ASX:MTO).
He says you wait for the bounce — never try to pick the bottom — and look for good looking individuals, not the stars of downtrodden industries.
“You’re trying to catch a falling safe. It’s much safer, rather than standing underneath it and trying to grab it, is to let it it hit the ground, let a bit of money fall out, then walk up and grab a bit of cash,” he says.
But the two he’s excited about in this video are Joint Strike Fighter parts maker Quickstep (ASX:QHL), which turned its first ever profit in the six months to December 31, and former tech darling Freelancer (ASX:FLN) which recently signed a major US partner.