Angus Walker (@angus_walker_) profile picture

Angus Walker

@angus_walker_

Global Equity Investor | SMID, Growth, Venture

 Hong Kong
mwp.partners/
Joined October 2024
  • Tweets34
  • Following248
  • Followers199
5Media
Photo by Angus Walker (@angus_walker_)Photo by Angus Walker (@angus_walker_)Photo by Angus Walker (@angus_walker_)Photo by Angus Walker (@angus_walker_)
Last week, @eddymyer_ and I launched MWP Partners, an investment firm centrally focused on conviction investing in the SMID, growth and venture. A long time in the making, but very much the start line of an exciting journey. I will (endeavour) to share updates on our strategy, philosophy and specific investments ideas here.
1
9
810
Core position $BXN.AX growing its top line +149% Y/Y for the first half and only in its first 12mo of entering new European markets. Upgraded guidance implies only 5.6x EV / EBITDA (midpoint of FY26 guidance) even after today's small bounce. North American peers trading at double or triple the multiple with lower or negative growth / loss making...
Image from Angus Walker (@angus_walker_)
1
1
8
1,084
more replies
This news is transformational with the precedent in Tasmania (NSW is 15x larger) showing a 7-fold increase in prescription cannabis following the rule change. Huge tailwind for Bioxyne, who manufactures ~40% of Australian medicinal cannabis nine.com.au/australia-news/n…
NSW to become first to allow medicinal cannabis users to drive | Nine.com.au

NSW to become first to allow medicinal cannabis users to drive | Nine.com.au

NSW could become the first state in the country to allow more than 300,000 medicinal cannabis users behind the wheel.

nine.com.au
1
1
146
Awareness picking up! $BLS.AX afr.com/companies/healthcare…
Black market to biotech: inside Australia’s legal psychedelic factory

Black market to biotech: inside Australia’s legal psychedelic factory

Legitimate manufacturing of MDMA and psilocybin, widely known as illegal party drugs, is big business, but limits on access and high costs remain challenging.

afr.com
1
68
Great piece from @alex_gluyas at the @FinancialReview telling @michaelfrazis story in full. A genuine reinvention, not just a recovery. Clear example of the mental agility and intellectual honesty necessary to thrive. The numbers speak for themselves. Follow the journey with the recently launched ETF ticker $ROAR.AX afr.com/markets/equity-marke…
How Michael Frazis went from redemptions to mega returns

How Michael Frazis went from redemptions to mega returns

The fund manager has learned a lot since his portfolio crashed nearly 70 per cent in 2022. A new quant-based approach is delivering big returns for his high-profile investors.

afr.com
2
2
27
4,159
Angus Walker retweeted
Michael Frazis (@michaelfrazis) profile picture
Michael Frazis
@michaelfrazisJun 4
Our new ETF (ticker ROAR) listed on the ASX Monday. Massive thank you to investors, family and supporters!
Image from Michael Frazis (@michaelfrazis)
Image from Michael Frazis (@michaelfrazis)
Image from Michael Frazis (@michaelfrazis)
22
3
1
89
42,642
🧵 $PNV – Skin in the Game We dedicated our entire March investor letter exclusively to PolyNovo. It's a top position. Here's why. (1/14)
7
3
1
14
6,921
The squeeze looks like its taking shape with $PNV up +18% with a mere 5.8m share traded. I don't know what assumption to make of short covering volume. ~50% should be conservative. So still at least ~97m shares sold short requiring ~200m shares of trading to fully cover.
Image from Angus Walker (@angus_walker_)
2
2
573
The pathway for young Australians to make money is moving offshore. Even just for 5-10 years, this can have a material impact on the start of your compounding journey. Not to mention the benefits of culture, travel, character, network.
Image from Angus Walker (@angus_walker_)
1
1
310
💰 The opportunity from here $PNV should be capable of 50%+ operating margins at scale, vs sub-10% today. That gap reflects deliberate reinvestment in sales force and R&D. On FY26 revenue of ~A$155m, a 50% margin = A$77.5m operating profit against an EV currently below A$700m. That's <9x potential earnings power — before new products or regulatory approvals. (13/14)
1
630
Applying a 25x operating profit multiple to our base case — not aggressive for this margin profile and growth trajectory — we arrive at approximately 150% upside over three years. We know this company, its product, and its history. We have sized accordingly and with conviction. (14/14) This is not financial advice. We are invested in $PNV.
486
Load more