Varun Anand
Portfolio Manager at Starlight Capital
Member since: Jul '19 · 291 Opinions
Rating Card
Premium content| All | 
Rating
| 
Big Win
| 
Win
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Neutral
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Loss
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Big Loss
|  |
|---|---|---|---|---|---|---|---|
| 3.43 | 32 27.35% | 29 24.79% | 13 11.11% | 22 18.80% | 21 17.95% | ||
| 1 Month | 3.41 | 3 10.71% | 8 28.57% | 9 32.14% | 6 21.43% | 2 7.14% | |
| 6 Months | 3.44 | 7 25.93% | 9 33.33% | 1 3.70% | 8 29.63% | 2 7.41% | |
| 12 Months | 3.42 | 7 26.92% | 7 26.92% | 1 3.85% | 5 19.23% | 6 23.08% | |
| 2 Years | 3.45 | 11 39.29% | 4 14.29% | 1 3.57% | 2 7.14% | 10 35.71% | |
| 5 Years | 0 | 4 50.00% | 1 12.50% | 1 12.50% | 1 12.50% | 1 12.50% |
Stock Opinions by Varun Anand
COMMENT
Infrastructure: essential daily services delivered to a majority of the population in a "supply-constrained manner". For example, look at Pearson International Airport in Toronto. You can't have two large international airports in one city, so we're seeing bottlenecks at the one infrastructure asset. Likes infrastructure assets that can capture the value of increased foot traffic and not have to engage in price wars.
COMMENT
Airlines. The airlines are having a tough time. They had to downsize during Covid, and then bounce back. The processes are not easy to turn off and on. Most airports are now operating quite efficiently, though there is a range. He doesn't own any. Too much volatility and price competition. He wants to focus on companies that benefit from volumes and don't take price risk.
BUY
Undervalued, due to small-cap nature and refinery exposure. Really good run this last few weeks. Growth pipeline, possible doubling of EBITDA in 5-10 years. Built out renewables and midstream opportunities. He also owns the spinoff, LCFS, with its flagship renewable diesel project coming online next year.
gas pipelines
BUY ON WEAKNESS
His preferred name in the space, but currently underweight. Last year, lots of excitement around infrastructure plans. But now concerns about economic slowdown. Best in class. Excellent job of executing on accretive M&A. Not a bad entry point, but be prepared for volatility next 12-18 months.
INDUSTRIAL PRODUCTS
DON'T BUY
Terrific run on the back of energy rebound. Fairly valued. Historically, leverage up the balance sheet during good times, and then cut dividends and restructure during bad. He prefers Canadian mid-streams, like PPL or GEI, both of which are focused on cashflow. Both are approaching fair value, but are good candidates if your quest is a good dividend and dividend growth.
0
PAST TOP PICK
(A Top Pick Jul 21/21, Down 19%) He's been buying. Plans to expand fleet annoyed some investors. 17-year track record of executing well. Mega-deal with DHL. Concerns about economic slowdown. Still well positioned, dominant market share, freight rates remain high. His top pick in the space.
Transportation & Environmental Services
