Ann: Trading Update, page-23

Makes the 2023 stock pick on live wire, wow have times changed
https://www.livewiremarkets.com/wires/the-1-stock-picks-for-2023

MMA Offshore (ASX: MRM)

Michael Goldberg: The sector that we like the most at the moment is the energy space. We've liked it for quite some time. I think it offers some promise going forwards in the next couple of years. Specifically, one of the companies that we own quite a bit of is MMA Offshore. They've got their foot in both the old camp - they service and they provide services to offshore oil and gas. But they also have about 20% of their revenue now coming from wind farms. So that's a space that we really like. We think that they're trading at a substantial discount to what we think they're worth. We tend to think they're probably worth about $1.50, which is a little bit less than two times their NTA. They're currently trading at about 75% of their net tangible assets. And that's a real NTA, unlike a lot of companies that make promises but don't deliver when it comes time to sell. So MMA Offshore is probably our favourite pick at the moment.