Afterpay and Lovisa crack a nod from fundies
The AFR reported on the view of Monash Investors' co-founder regarding AfterPay and Lovisa. Speaking about the former, the fund manager believes it still has significant growth potential because it has won over retailers. Consequently, the fund trades Afterpay a lot, because it's a volatile stock "and it gets a bit crazy at times". The fund also plays downs the current Senate inquiry into payday lending, noting that expecting the inquiry to reveal that improper conduct mainly comes from the "vulture funds". Fast-fashion jewellery retailer Lovisa also gets a mention in the article, with the fund being particularly excited about their bricks and mortar outlets, "the return they get on their new stores is just fabulous." For $250,000, Lovisa can have open a new outlet in Australia, and that investment will pay for itself within 12 months. Lovisa's share price peaked in June at $12.53, but closed at $7.36 on Friday.