ANALYSE THIS: Electus Fund Managers’ Mish-al Emeran
We analyse Mish-al Emeran, equity analyst at Electus Fund Managers
If someone came to you tomorrow with R100m to invest in just one company, which would it be? Italtile, assuming it is an investor with a long-term time horizon and the company fits the person’s risk profile. The share should also form part of a well-diversified portfolio of assets. Italtile has a strong and sustainable economic moat, which will allow it to continue delivering excess returns and strong cash flows. It has a vertically integrated business model that should enable it to grow earnings ahead of competitors, and it is trading at below its intrinsic value. It has a management team of people who are good stewards of capital. Which talent would you most like to have? It would be amazing to be able to read a woman’s mind. That would level the playing field for me at home, where I’m outnumbered by my wife and three daughters. What was your first job? My first "paying job" was as the scorer for my dad’s cricket team. I was young and got paid a pittance, but I did it for the love...
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