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Sorry oaftar,
I don't know much about managed funds and I don't know who NAOS are.
The context was half a dozen or so fund managers being asked questions about aspects of the year ahead.
The fund manager in question was Simon Marais, fund manager for Orbis.
The question asked was "What are your key stock picks for 2012 and why?"
He answered "Fairfax Media [publisher of The Financial Review] and APN News & Media. Both are trading at very depressed prices and super-geared to the retail cycle. Expectations are for things to be absolutely terrible and I think they will merely be bad. ImpediMed - one of the lowest risk stocks with the most upside. It is a biotech stock but with all US Food & Drug Administration hurdles cleared, great product and good management, but completely undiscovered."
I was looking for multiples before I read this, it was just nice to have some mainstream media attention and the support of an investment professional.
Does the "O" in NAOS stand for Orbis? If not then we have (at least) two fundies on our side.
Cheers,