https://www.cnbc.com/2019/05/06/stock-picks-from-rising-hedge-fund-stars-at-the-sohn-conference.htmlAngela Aldrich, Bayberry Capital Partners
Investment idea: Short Treasury Wine Estates (TWE-AU)
Aldrich, who founded Bayberry in 2018, said that despite a 350% run in recent years, she’s now short Australian wine company Treasury Wine Estates. The company, which includes brands like 19 Crimes, Sterling and Penfolds, originally saw strong growth in China and in its masstige offerings, which include $10 to $15 bottles.
The manager said that barring early success in China, Treasury is now facing a variety of counterfeit offerings in China as well as price pressure as sales pivot toward e-commerce.
“The U.S. … is not growing,” Aldrich said. “19 crimes has really been the company’s savior lately. ... They are stuffing it into every distribution channel they can.”
Aldrich also highlighted recent management departures including five division heads, four chief financial officers and three global executives in the last five years.
Bayberry sees at least 50% downside on this stock, which was last seen at around 16 Australian dollars in Australian trading.
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$7.81 |
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Mkt cap ! $6.337B | |||
| Open | High | Low | Value | Volume |
| $7.79 | $7.85 | $7.71 | $61.82M | 7.938M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5640 | $7.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.82 | 74985 | 1 |
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