Insights

3 ASX shares Australia’s 73rd richest person loves

Taking stock tips from a wealthy person might be wiser than the alternative. Here’s a trio of companies Alex Waislitz likes currently
The post 3 ASX shares Australia’s 73rd richest person loves appeared first on The Motley Fool Australia. –

Thorney Investment Group chief executive Alex Waislitz knows what he’s talking about when it comes to investments.

He founded Thorney Group after overseeing the investments of cardboard magnate Richard Pratt and Australia’s first billionaire Robert Holmes a Court.

These days he’s in the rich list himself, ranked the 73rd wealthiest person in the nation on the current The Australian rankings.

As well as a private fund, Waislitz runs 2 ASX-listed investment funds — Thorney Technologies Ltd (ASX: TEK) and Thorney Opportunities Ltd (ASX: TOP).

He recently named 3 ASX shares those funds hold that he currently has the most hope for:

Signing up massive clients and cash in the bank

Perth business Yojee Ltd (ASX: YOJ) makes software that manages logistics and supply-chain management.

The share price hasn’t done a great deal this year, dropping from 20 to 18 cents as of Thursday’s market close.

But Waislitz likes how it looks ready for explosive growth.

“This is a company that’s progressively signed up 4 of the largest 10 logistics companies in the world,” he told a Reach Markets webinar.

“It’s got cash in the bank to roll out that growth with those companies and it’s time is coming.”

For the 2021 financial year, Yojee reported 63% revenue growth — but that failed to sustainably push the stock price up.

The Thorney team is willing to be patient though.

“We’re quite excited about them,” said Waitslitz.

“It’s a company to watch… At the moment the revenues are relatively small, but we’re hopeful that over the next 1 to 3 years you might see them really power ahead.”

2 engineering ASX shares that’ll cash in on infrastructure boom

The other 2 ASX shares, which are both engineering-related, are held by the Thorney Opportunities fund.

Southern Cross Electrical Engineer Ltd (ASX: SXE) provides services to clients like data centres, mining sites, and utilities.

For a business that provides a 6% dividend yield, the share price is very low.

“We think it’s really cheap because it’s trading at just over 3 times EBITDA [earnings before interest, taxes, depreciation, and amortisation] to the enterprise value,” said Waislitz.

“Sitting on cash, it’s really well-positioned to win a lot of work into that [resources and infrastructure] thematic.”

He also thought management was “too conservative” in its performance forecasts.

Southern Cross shares closed Thursday at 66 cents, after starting the year at 57 cents.

Construction engineering company Decmil Group Limited (ASX: DCG) has just been a nightmare for investors recently.

Its stock price has dropped about 90% over the past 2 years.

But after dealing with those “bad contracts”, Waislitz is convinced the ASX share has hit the bottom now.

“They had to recapitalise their balance sheet to deal with their debt and allow them some growth capability, which they’ve done,” he said.

“They’ve had a change of leadership at the CEO level, which has happened, and some other executives.”

The Thorney team thinks Decmil is set to rake in more than $500 million of revenue for the current financial year, compared to $298.1 million for the 2021 financial year.

“In a sense, a new beginning for this company that’s been around for a while.”

The post 3 ASX shares Australia’s 73rd richest person loves appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Broker gives its verdict on the Ramsay Health Care (ASX:RHC) share price

2 stellar ASX growth shares that could be strong buys

Why has the Woolworths (ASX:WOW) share price underperforming Coles in the last month?

The ASX share with ‘unassailable’ lead over rivals: expert

2 excellent ASX dividend shares with attractive yields

Motley Fool contributor Tony Yoo 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 Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!