The AGL Energy Ltd (ASX: AGL) share price has been shaky the last few months as investors unload their positions en masse.

Shares in the energy giant are now down 19% over the past month of trade and about 25% lower than the $8.58 apiece they were fetching on 10 August.

Spurring the plunge has been a series of unfortunate events for the energy retailer. Most recently, the AGL’s outgoing CEO Graeme Hunt is set to part ways with the company at the end of this month.

If it’s any consolation, AGL will hold its strategy day later this month, where it will reveal the findings of its strategic review.

No strategic changes seen

Despite the purported interest around AGL’s strategy day, analysts at Macquarie aren’t sharing the excitement.

The broker reckons it’s unlikely to see any new major strategic changes as part of the energy giant’s ongoing review.

In previous times, it was AGL’s dividend that was attractive to investors but Macquarie now believes AGL will use its large FY22 profit to fulfil different mandates.

Notably, Macquaries said there’s “a need for debt reduction, funding of provisions and re-investment in batteries and the energy hubs”, according to a note cited by The Australian.

Retaining cash instead of increasing the dividend would “address AGL’s balance sheet debt and provide the capital to co-invest in the development cities,” it added.

What this means for AGL shares, we will have to see, but no change might mean no change to the share price as well.

Also, for what it’s worth, AGL is trading at relatively low multiples right now.

It currently trades on a price-to-earnings ratio (P/E) of 5.2 times, giving investors an earnings yield of more than 19% at its current price.

That sits well below the Global Industry Standard Classification median for the Utilities Sector of 14.4 times. Meanwhile, AGL also generated a 14% return on equity (ROE) last year and trades at a price-to-book (P/B) ratio of 0.7 times.

That means our ROE as investors is 20% with the share trading at that multiple.

Hence, whilst Macquarie sees no strategic change ahead, the question still remains if there’s to be a change in the AGL share price.

The post Despite all the recent noise, is it business as usual for AGL shares? appeared first on The Motley Fool Australia.

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More reading

• What’s next for AGL shares following the company’s latest shake-up?
• AGL share price dips following changing of the guard
• AGL share price slides amid shareholder revolt
• What’s going on with the AGL share price today?
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) tumbled amid global recession fears on Monday. The index closed 1.6% lower at 6,469.40 points.

Its fall followed a similarly tough Friday session on Wall Street. The Dow Jones Industrial Average Index (DJX: .DJI) ended last week with a 1.6% tumble while the S&P 500 Index (SP: .INX) fell 1.7% and the Nasdaq Composite Index (NASDAQ: .IXIC) plunged 1.8%.

The S&P/ASX 200 Energy Index (ASX: XEJ) was the market’s worst performer on Monday, falling 6.3% amid lower oil prices.

The Brent crude oil price fell 4.8% to US$86.15 a barrel on Friday and the US Nymex crude oil price slipped 5.7% to US$78.74 a barrel.

The S&P/ASX 200 Materials Index (ASX: XMJ) also tumbled 5.3%.

But it wasn’t all bad. The S&P/ASX 200 Health Care Index (ASX: XHJ) gained 2% while the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) and the S&P/ASX 200 Information Technology Index (ASX: XIJ) rose 1.2% and 1.1% respectively.

All in all, five of the ASX 200’s 11 sectors closed higher on Monday. But which share outperformed all others? Keep reading to find out.

Top 10 ASX 200 shares countdown

The Nanosonics Ltd (ASX: NAN) share price led the index on Monday gaining close to 5%. That’s despite no news having been released by the healthcare giant.

Find out more about Nanosonics and what it’s been up to here.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Nanosonics Ltd (ASX: NAN)	$3.58	4.68%
Megaport Ltd (ASX: MP1)	$7.44	4.56%
REA Group Limited (ASX: REA)	$119.15	3.49%
TechnologyOne Ltd (ASX: TNE)	$11.01	3.38%
Altium Limited (ASX: ALU)	$35.01	3.27%
Xero Limited (ASX: XRO)	$78.95	3.16%
Seek Limited (ASX: SEK)	$19.63	2.99%
Cochlear Limited (ASX: COH)	$202.34	2.94%
ResMed Inc (ASX: RMD)	$32.96	2.87%
Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)	$17.25	2.68%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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• Why Altium, Greenwing, Superloop, and Universal Store shares are racing higher
• Not all ASX 200 shares are getting hammered today. Here are some winners
• These are the 10 most shorted ASX shares
• Markets move all the time. Why it’s important to ‘keep calm and focus on longer-term strategy’
• Here’s how I’d invest $2,000 in ASX shares if I’d just turned 18

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Cochlear Ltd., MEGAPORT FPO, Nanosonics Limited, ResMed Inc., and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended Nanosonics Limited, ResMed Inc., and Xero. The Motley Fool Australia has recommended Cochlear Ltd., MEGAPORT FPO, REA Group Limited, SEEK Limited, and TechnologyOne Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Coles Group Ltd (ASX: COL) share price has seen a bit of volatility this year. But, arguably, less than the S&P/ASX 200 Index (ASX: XJO).

In 2022, Coles shares have dropped 7% while the ASX 200 is down by 13%.

The supermarket business may be seen as a defensive ASX 200 share. We all need to eat food, right? During the difficult lockdowns of COVID-19, it was businesses such as Coles that were deemed to be essential and could stay open. Shoppers continued buying and the supermarket business kept generating profit.

FY22 saw Coles report that total sales revenue increased by 2% to $39.4 billion and net profit after tax (NPAT) went up by 4.3%.

Is the Coles share price a defensive ASX 200 buy?

Some investors aren’t sure if the business is worth buying yet. For example, writing on The Bull, Arthur Garipoli from Seneca Financial Solutions said:

The supermarket and liquor giant’s result in fiscal year 2022 was in line with market expectations. Like most retailers, Coles experienced cost pressures in response to COVID-19. In a higher interest rate environment, Coles can be sufficiently agile to appeal to shoppers by ensuring affordable prices.

Growth of sales and earnings is certainly not guaranteed. Coles pointed out that in FY23, supermarket sales growth will be cycling against COVID-19 lockdowns in the first half of FY22 (for New South Wales, Victoria and the Australian Capital Territory), and price inflation in the second half of FY22.

While it’s able to pass on price increases for some products, it is suffering from cost inflation in areas like rent, wages, packaging, raw ingredients and freight.

However, some brokers are positive on the business. Both Citi and Morgans think that the Coles share price can rise by around 20% to $20 over the next year. Those analysts believe that the sale of Coles Express to Viva Energy Group Ltd (ASX: VEA) will allow the business to concentrate on and invest in the supermarket and liquor businesses.

Fuel and convenience sale

Coles will receive $300 million and assign leases, which currently represent a liability of $816 million on Coles’ balance sheet, to Viva Energy at completion. This is expected to occur in the second half of FY23, subject to approvals.

Customers will still get existing loyalty benefits, including the 4 cents per litre fuel discount.

The Coles Express-branded network will be rebranded by Viva Energy. The majority of sites will be completed over the next two years.

Coles will continue to partner with Viva Energy in relation to product supply arrangements, including accessing Coles’ own-brand product range.

Coles share price snapshot

Over the last month, Coles shares have dropped 5.5%.

The post Is the Coles share price a defensive ASX 200 buy right now? appeared first on The Motley Fool Australia.

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More reading

• Top brokers name 3 ASX shares to buy next week
• Brokers name 3 ASX shares to buy today
• Goldman Sachs gives its verdict on the Coles share price
• Here are 2 ASX 200 blue chip shares that experts rate as buys
• 5 things to watch on the ASX 200 on Friday

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Syrah Resources Ltd (ASX: SYR) share price is deep in the red today amid the company advising of what it calls “illegal industrial action” at its graphite operation in Mozambique.

Shares in the graphite miner and battery anode developer are currently trading for $1.517 each, a 20.58% drop on Friday’s closing price.

Let’s take a closer look at what the company announced today.

Work halts at Balama site

The update said the company had to stop work at its Balama graphite operation and move its remaining personnel from the site last Tuesday. This was due to actions by “a small contingent of local employees and contractors” causing safety concerns, the update reported.

Syrah notes “the actions taken by this group are not deemed representative of the majority of the Balama workforce”.

Negotiations are reportedly underway between the aggrieved personnel, the site’s internal union committee, and Mozambique government representatives to resolve the issue.

Once the safety of its personnel can be secured, employees and contractors will return to the site with operations restored “as soon as possible”, according to the update.

The company also gave a short operational update. It said 38 kilotonnes of graphite had been produced in the current quarter and sales stood at 54 kilotonnes.

Syrah Resources shares were halted on September 21 to give the company time to post today’s announcement to the market.

My Fool colleague James notes it is not the first time Syrah’s operations have come to an unplanned halt. Previous stoppages include attacks by insurgents at the company’s mine site near Ancuabe, a fair distance from the Balama project.

Syrah Resources share price snapshot

The Syrah Resources share price is down 21.66% year to date. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is 14.5% lower over the same period.

The company’s current market capitalisation is $1.02 billion.

The post Syrah Resources share price sinks 21% amid ‘illegal action’ appeared first on The Motley Fool Australia.

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More reading

• Why BHP, Costa, Link, and Syrah shares are dropping
• Why is the Syrah share price halted?
• Investors are obsessed with ASX lithium shares, but what about this other critical battery metal?
• Batteries and water: Experts name 2 ASX shares you can’t ignore

Motley Fool contributor Matthew Farley has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Woolworths Group Ltd (ASX: WOW) share price is having a solid day despite the market selloff.

In afternoon trade, the retail giant’s shares are up over 2.5% to $34.77.

This compares very favourably to the performance of the S&P/ASX 200 Index (ASX: XJO), which is currently down 1.4% to 6,484.2 points.

Why is the Woolworths share price outperforming?

The Woolworths share price is charging higher today despite there being no news out of the company.

However, it is worth noting that Woolworths is seen as a very defensive option for investors. That’s because demand for the products it sells remains reasonably consistent whatever is happening in the economy.

So, with the Australian share market being sold off today amid concerns that rising interest rates will lead to a global recession, investors appear to have been rotating out of riskier assets like lithium shares and into Woolworths.

It is likely to be for the same reason that rivals Coles Group Ltd (ASX: COL), Metcash Limited (ASX: MTS), and Wesfarmers Ltd (ASX: WES) are pushing higher today.

Is Woolworths good value?

One leading broker that would be supportive of this rotation is Goldman Sachs.

Its analysts recently reiterated their buy rating and $44.10 price target on the company’s shares.

Based on where Woolworths’ shares are trading currently, this implies potential upside of 27% over the next 12 months.

The post Why is the Woolworths share price having such a stellar run on Monday? appeared first on The Motley Fool Australia.

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• Could the current Woolworths dividend be in jeopardy?
• How many Woolworths shares does the CEO hold after his $8.4 million sell-down?
• Are these ASX blue-chip shares losing their defensive benefits?
• Attention Endeavour shareholders: Here’s some news on your dividends
• Have Woolworths shares ‘got their mojo back’?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET and Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s been a busy year for ASX 200 banking shares this year. The beginning of 2022 saw the banking sector take refuge at the top of the leaderboard with investors betting on higher interest rates and a rotation out of tech.

This was short-lived however with the market turning sour on ASX banks in favour of energy and mining stocks that have benefitted from the energy crunch in Europe.

There’s been somewhat of a return to glory for the banking basket in the second half of 2022 following the release of FY22 results and annual reports.

How does ANZ stack up against the other banks?

Measures of profit are crucial in the examination of businesses. Net income or profit is tied to cash flow, revenue and the balance sheet, so it’s an important number.

However, profitability is also measured in a couple of other ways. This is important to make an apples-to-apples comparison between companies and to check against self-averages.

First, the amount of earnings per share (EPS) generated for the period, which measures the profit shareholders would receive for each unit of stock owned.

This is often combined with the price-to-earnings (P/E) ratio to determine valuation.

Free cash flow is also essential, as it measures the available level of cash that’s left over after obligations have been paid.

Meanwhile, a company’s return on assets (ROA) and return on equity (ROE) are also important to know.

ROA records how much income a company generates from the investments it makes into various assets, such as machinery, or software. The higher the better.

The ROE meantime tells us the return each bank generated for its equity holders. Again, the higher the better, as it tells us a high amount of profit was generated for the owners of the company – an ideal situation.

As seen in the table below, if we benchmark the group by its median results, Australia and New Zealand Banking Group Ltd (ASX: ANZ) looks to be mostly in line with peers on the measures of profitability described above.

Net profit margin of 31.6% and ROA are in-line with the median of the big four, whereas it produced a higher amount of free cash flow than all competitors listed.

Name	Revenue	Net Income	Net  Margin	EPS	Free Cash Flow	ROA	ROE
Australia and New Zealand Banking Group	$        19,529.00	$          6,162.00	31.6%	$     2.03	$        4,433.00	0.6%	9.9%
Sector median	$        20,156.00	$          5,458.00	29.3%	$     1.85	$        3,321.00	0.7%	9.1%
Commonwealth Bank of Australia	$        24,293.00	$        10,771.00	44.3%	$     6.01	$        3,351.00	0.8%	12.8%
National Australia Bank Ltd	$        18,034.00	$          6,364.00	35.3%	$     1.85	$        3,976.00	0.7%	10.4%
Westpac Banking Corp	$        22,278.00	$          5,458.00	24.5%	$     1.38	$        3,321.00	0.6%	7.8%
Bank of Queensland Ltd	$          1,688.00	$             369.00	21.9%	$     0.62	$           185.00	0.5%	7.1%

ANZ also came in with an above-peer ROE of 9.9% and shareholders enjoyed $2.03 in earnings per share for the 12 months to June 2022.

In terms of being the most profitable, however, that doesn’t seem to be the case here.

Commonwealth Bank of Australia (ASX: CBA)’s net margin was 44.3% for the period, and it generated $6.01 in EPS as well.

This was carried through to the highest ROA and ROE amongst all peers including ANZ. Similarly, National Australia Bank Ltd (ASX: NAB) outperformed as well.

Therefore based on this rudimentary analysis we could say that ANZ has above-sector profitability, but we can’t necessarily say it has the best profit margins out of the big four ASX banks.

The post Does ANZ really have the best profit margins of the big four bank shares? appeared first on The Motley Fool Australia.

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More reading

• Can the ANZ share price stretch higher if interest rates keep rising?
• Here’s why I decided to buy each of the big 4 ASX 200 bank shares
• Looking to buy CBA shares? Here’s how the bank’s balance sheet stacks up
• Top brokers name 3 ASX shares to buy next week
• Why has the ANZ share price been outperforming the ASX 200 this week?

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Brickworks Limited (ASX: BKW)

According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this building products company’s shares to $24.00. This follows the release of a solid full year profit result last week that was 10.1% ahead of consensus estimates. In addition, Morgans highlights that its shares screen as cheap given the current discount to inferred NTA and the pipeline of value accretive projects to be potentially realised over coming years. The Brickworks share price is trading at $21.18 on Monday.

GPT Group (ASX: GPT)

A note out of Macquarie reveals that its analysts have retained their outperform rating and $4.70 price target on this property company’s shares. Macquarie sees an opportunity for GPT to unlock balance sheet capacity to fund its massive uncommitted development pipeline. It appears to believe that this would bode well for its future growth if done successfully. The GPT share price is fetching $3.86 this afternoon.

Lendlease Group (ASX: LLC)

A note out of Ord Minnett reveals that its analysts have retained their buy rating and $12.50 price target on this property company’s shares. Although the broker acknowledges that Lendlease is operating in a challenging leasing environment, it remains positive enough to retain its buy rating on Lendlease’s shares. This is due partly to company’s development pipeline, which includes high quality projects such as the new Google campus. The Lendlease share price is trading at $9.08 on Monday.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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• Brokers name 3 ASX shares to buy today
• Brickworks has maintained or grown its dividend every year for 46 years. Here’s the latest
• Brickworks share price edges higher on $746 million profit result
• Here are the top 10 ASX 200 shares today
• Why Brickworks, IDP Education, IGO, and New Hope shares are racing higher

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Novonix Ltd (ASX: NVX) share price is in the red once more today, tumbling to its lowest point since January 2021.

The tech favourite’s downfall comes amid a broader market sell-off and despite the strong performance of its home sector.

The Novonix share price is $1.835 right now, 3.93% lower than its previous close.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has recovered much of its earlier slump to trade 1.26% lower this afternoon. At the same time, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is one of a handful of sectors trading in the green. It’s lifted 1.02% right now.

So, what’s going wrong with the Novonix share price? Let’s take a look.

Novonix share price extends losses on Monday

The Novonix share price tumbled to a new 52-week low of $1.805 earlier today, marking a 5.5% fall.

Its tumble came amid a sell-off event that has seen the S&P/ASX 200 Materials Index (ASX: XMJ) slump 4.62% at the time of writing.

And therein might lie the reason behind Novonix’s suffering today.

While the company is technically at home in the technology sector due to its work in the lithium battery industry, it’s also involved in the development and supply of graphite anode material. Thus, it’s feasible that it’s trading more in line with the materials sector today.

The sector appears to be experiencing a major sell-off amid growing fears of a recession.

Additionally, Novonix’s stock has been on a downhill trajectory lately, falling 18.8% over the last fortnight.

Its struggles seemingly kicked off amid the latest round of inflation data from the United States. That news saw Wall Street fall from its September peak, with the Dow Jones Industrial Average Index (DJX: .DJI) slumping 8.6% between 12 September and Friday’s close.

The Novonix share price’s latest fall sees it 83% lower than it was at the start of 2022. It has also fallen 72% since this time last year.

The post Novonix share price dives again, down 19% in two weeks appeared first on The Motley Fool Australia.

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More reading

• Guess how many companies in the ASX 300 actually make no money
• Could this be a red flag or false alarm for Novonix shares?
• Novonix share price sinks 7% amid Wall Street walloping
• Here are the top 10 ASX 200 shares today
• Why is the Novonix share price soaring 7% on Tuesday?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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ASX shares are down again today. The S&P/ASX 200 Index (ASX: XJO) is currently in the red by 1.31%.

Yet expert investors are scouring the market for opportunities. One of these is Andrew Mitchell from Ophir Asset Management, which runs a few different funds including Ophir High Conviction Fund (ASX: OPH).

Speaking to The Australian, Mitchell outlined the problems the ASX share market is seeing, the types of companies he’s avoiding, and whether it’s time to start investing yet.

Why is the ASX share market being pummelled?

The main problem boils down to inflation, caused by various factors including the impacts of the COVID-19 pandemic and the Russian invasion of Ukraine.

There has been plenty of selling action by investors recently but, according to Mitchell, there “isn’t sufficient evidence” to suggest that we’re at the recovery stage yet for ASX shares. He said he wouldn’t be surprised to see a bear market rally. In other words, a short-term rise in shares.

Investors also have to contend with the conundrum of how hard central banks will have to go to bring inflation back under control. Mitchell said this to The Australian:

The global economy is slowing and inflation is stubbornly high. It would take a brave person to say the share market is out of the woods at the moment. Although some indicators suggest market sentiment is almost as pessimistic as mid-June, we’re seeing increased signs of economic stress, including the jump in UK government bond yields on Friday and the spike in spreads on US junk bonds.

The market is focused on core inflation. How much does the Fed need to lift rates before they are satisfied that aggregate demand will slow? We are all hopeful for a Fed pivot, but with their credibility on the line they may talk tough for longer than everyone expects.

For the US economy, he’s expecting this inflation fight to end in recession. He contends the Fed will “likely go too far” because inflation is the central bank’s “number one priority, growth is a far second”.

ASX shares to avoid

The investment style of Ophir means it’s willing to look at most sectors for opportunities.

In terms of investments to avoid, Mitchell doesn’t want to invest in businesses with little pricing power, nor those carrying a lot of debt.

He thinks that while the ASX share market has already experienced the sell-off, investors will also start seeing companies issuing earnings downgrades.

Ophir is “very cautious” on consumer discretionary businesses, companies leveraged to the housing market, and financials. It believes they may not recover until inflation is “well under control”. This may mean that a recovery isn’t seen until inflation is below 2%. This will likely also mean a reset of corporate earnings expectations.

According to Ophir research, over the past 16 bear markets, the share market has bottomed six months before corporate earnings do.

Where are the opportunities?

While he didn’t name specific ASX shares, Ophir is looking for businesses that have good management and can grow “no matter what”.

It believes businesses making acquisitions at this time could also be interesting. On that point, Mitchell said:

Historically, times like this are the best for making money. You just need nerves of steel. We’re focused on companies that are making great acquisitions now that the market won’t acknowledge because it’s obsessed with only the most defensive businesses.

He also wants to find businesses that have been harshly sold off, while their peers haven’t been punished as severely.

Ophir also suggests that choosing good cash-generating businesses will lead to good results. The idea is that the best businesses will emerge stronger than weak competitors.

At 30 June 2022, the five largest holdings (in alphabetical order) in the Ophir High Conviction Fund were: AUB Group Ltd (ASX: AUB), EBOS Group Ltd (ASX: EBO), NIB Holdings Limited (ASX: NHF), Omni Bridgeway Ltd (ASX: OBL), and Resmed (ASX: RMD).

The post ‘Historically, times like this are the best for making money’: expert appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. The Motley Fool Australia has recommended Austbrokers Holdings Limited and NIB Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a sizeable decline. In afternoon trade, the benchmark index is down 1.3% to 6,490.7 points.

Four ASX shares that are falling more than most are listed below. Here’s why they are dropping:

BHP Group Ltd (ASX: BHP)

The BHP share price is down almost 5% to $36.38. Investors have been selling BHP and other mining shares on Monday amid concerns that rising interest rates could cause a global recession. This could lessen demand for commodities and put pressure on prices. The S&P/ASX 200 materials index is down 4.75% this afternoon.

Costa Group Holdings Ltd (ASX: CGC)

The Costa share price is down over 13% to $2.20. This follows the shock announcement of the exit of Costa’s CEO after just 18 months in the top job. According to the release, Sean Hallahan will step down with immediate effect and be replaced on an interim basis by former CEO, Harry Debney.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price is down 9% to $3.00. Investors have been selling this administration services company’s shares after it confirmed that the $4.81 per share takeover by Dye & Durham has now collapsed. One positive is that the company will now pay a special dividend to shareholders. It is also looking for other way to unlock value.

Syrah Resources Ltd (ASX: SYR)

The Syrah share price has crashed 21% to $1.51. This has been driven by news that Syrah’s Balama Graphite Operation in Mozambique has been interrupted by illegal industrial action by a small contingent of local employees and contractors. Management advised that it is working to restore operations as soon as possible.

The post Why BHP, Costa, Link, and Syrah shares are dropping appeared first on The Motley Fool Australia.

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More reading

• BHP share price dips 4% in miserable Monday for ASX 200 miners
• Costa share price craters 12% as CEO walks
• Why BHP might still have a chance at acquiring OZ Minerals shares
• Link share price crashes 11% after takeover collapse
• BHP shares: Boring or beautiful?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Link Administration Holdings Ltd. The Motley Fool Australia has recommended COSTA GRP FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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