"As a huge fan of Marks' works and his prudent investment strategy, which I think can resonate well with cautious optimists who don't want to neglect playing defense in late-stage markets or simply markets that are too hyped with valuations at the higher end, I think his firm, Oaktree Capital Management, is more than worth following closely on any given quarter."
"For investors seeking emerging markets growth, solid managers, and a fairly wide, underrated economic moat, it's tough to overlook Nu Holdings. After a strong third-quarter number that saw considerable earnings growth, and a total addressable market that's quite massive as the firm expands across Latin America, the 19.8 times forward price-to-earnings (P/E) multiple makes Nu Holdings look like one of the "Garpiest" stocks on the market."
Oaktree Capital initiated a new position in Latin American fintech Nu Holdings in Q3, investing about $72 million, roughly 1.5% of its portfolio. Nu is a former Berkshire Hathaway holding, though Berkshire has since exited. Nu showed strong earnings growth and a massive total addressable market across Latin America, trading at about 19.8 times forward P/E. The name appeals to investors seeking emerging-markets growth, solid management, and an underrated economic moat. A second Q3 pick, Sea Limited, is mentioned but detailed information is not provided. The emphasis remains on price of admission and fundamentals.
Read at 24/7 Wall St.
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